CH $18$ Excel Project

INSTRUCTIONS: Identify the costs with the correct classificaton and category

$\backslash$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$]]$

$\backslash$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 $31,20$XX

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 $31,20$XX

A

B

C

D

Instructions: Complete the Cost of Goods Sold schedule.

Beginning Finished Goods had $500$ units that had a cost of $$0\mathrm{.}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 $31,20$XX