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CH 1 8 Excel Project INSTRUCTIONS: Identify the costs with the correct classificaton and category table [ [ Description , Cost Classification ] ,

CH 18 Excel Project
INSTRUCTIONS: Identify the costs with the correct classificaton and category
\table[[Description,Cost Classification],[Chocolate chips used in the cookies.,Product],[Depreciation on the ovens.,Product],[Insurance on the computers used in the accounting office.,Period],[Wages for the bakery security guard.,Product],[Salaries of the bakers who make the cookies.,Product],[Electricity for the bakery.,Product],[Heating for the corporate headquarters.,Period],[Freight for shipping the cookies to customers.,Period],[Salary of the baking supervisor.,Product]]
\table[[Category],[Direct materials (DM)],[Factory overhead (FOH)],[Expense],[Direct labor (DL)],[Direct labor (DL)],[Factory overhead (FOH)],[Expense],[Expense],[Direct labor (DL)]]
Instructions: Complete the Schedule of Cost of Goods Manufactured assuming:
Direct materials used, $2,500
Direct labor, $3,000
Other operating costs pertaining to the factory included utilities of $1,000, indirect labor of $2,500 maintenance of $3,500, depreciation of $1,800, and property taxes of $2,200.
There was no beginning or ending finished goods inventory, but beginning work-in-process inventory was $1,500 and ending work-in-process inventory, $1,200.
Troll House Cookies
Statement of Cost of Goods Manufactured
Month ended October 31,20XX
Factory Overhead
Total Factory Overhead
Total Manufacturing Costs Incurred
Total Manufacturing Costs
Cost of Goods Manufactured
Instructions: Using the results from above, calculate the cost per unit for goods
manufactured assuming 16,000 units were manufactured.
Cost of Goods Manufactured
Total Units Produced
Unit Product Cost
Instructions: Complete the Cost of Goods Sold schedule. Beginning Finished Goods had 500 units that had a cost of each. Ending Finished Goods Inventory had 700 units left.
Assume FIFO to calculate the inventory value.
Troll House Cookies
Statement of Cost of Goods Sold
Month ended October 31,20XX
A
B
C
D
Instructions: Complete the Cost of Goods Sold schedule.
Beginning Finished Goods had 500 units that had a cost of $0.98 each. Ending Finished Goods Inventory had 700 units left.
Assume FIFO to calculate the inventory value.
Troll House Cookies
Statement of Cost of Goods Sold
Month ended October 31,20XX
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