Compute the Cost of Goods Manufactured by completing the Cost of Goods Manufactured Schedule using the following cost data and account balances : 20,000 10,000 5,000 20,000 25,000 Account Balances 50,000 60,000 10,000 6,000 Beg. Direct Materials Ending Direct Materials BegWork-In-Process Inventory BegFinished Goods Ending Work-In-Process Inventory Ending Finished Goods Cookies Produced 50,000 Coconut Flakes Purchase Oven Depreciation Computer Insurance Bakery Security Guard Wages Flour Purchased Bakers Salaries Bakery Electricity Eggs Purchased Corporate Headquarters Heating Cookie Shipping Butter Purchased Baking Supervisor Salary Sanitary Gloves Purchased (Worn by Bakers) Sugar Purchased 5,000 8,000 110,000 cookies 100,000 cookies 500 hrs 1,000 30,000 7,000 1,000 15,000 30,000 Cookies Sold Actual Direct Labor Hours Used 5,500 20,000 Compute the Cost of Goods sold by completing the Cost of Goods Sold Schedule using the COGM found in part 2 and the account balances listed above Compute the predetermined overhead allocation rate for fiscal year 2024. Use the blue shaded areas for inputs Use Excel to journalize the journal entries in the general journal. The account titles are available when you click the down-arrowUse the Increase Indent button on the Home tab to indem Adjust the manufacturing overhead account. Prepare the journal entry Post to Taccounts List the ending balances for Raw Materials Inventory, Workin-Process Inventory , Finished Goods Inventory, and Cost of Goods Sold. Compare using a single plant-wide allocation rate versus using ABC costing to see how that could effect cookie pricing Calculate allocation rates for each activity cost pool. bCalculate total overhead allocated for each type of cookie Compare the amount of overhead allocated using a single plantwide rate to using ABC costing Classify costs from 1 Costs Classification as variable or fixed the data gathered/calculated to this point, find out if Troll House Cookies is making a profit at their current sales price aUse the contribution margin approach to compute the company's monthly breakeven point in units Use the contribution margin ratio approach to compute the breakeven point in sales dollars Use the contribution margin approach to compute the monthly sales level (in units) required to earn a target operating income of $5,000 Calculate the current operating income at the current sales level.

Requirements 2. Compute the Cost of Goods Manufactured by completing the Cost of Goods Manufactured Schedule using the following cost data and account balances 0 1 2 3 4 5 16 37 49 Coconut Flakes Purchase S 20,000 Account Balances Oven Depreciation $ 10,000 Beg. Direct Materials $ 50,000 Computer Insurance $ 5,000 Ending Direct Materials $ 60,000 Bakery Security Guard Wages $ 20,000 Beg. Work-in-Process Inventory $ 10,000 Flour Purchased $ 25,000 Beg. Finished Goods $ 6,000 Bakers Salaries $ 50,000 Ending Work-In-Process Inventory $ 5,000 Bakery Electricity $ 1,000 Ending Finished Goods $ 8,000 Eggs Purchased $ 30,000 Cookies Produced 110,000 cookies Corporate Headquarters Heating $ 7,000 Cookies Sold 100,000 cookies Cookie Shipping $ 1,000 Actual Direct Labor Hours Used 500 hrs Butter Purchased $ 15,000 Baking Supervisor Salary $ 30,000 Sanitary Gloves Purchased (Worn by Bakers) $ 5,500 Sugar Purchased $ 20,000 3. Compute the Cost of Goods sold by completing the Cost of Goods Sold Schedule using the COGM found in part 2 and the account balances listed above 4 Compute the predetermined overhead allocation rate for fiscal year 2024. Use the blue shaded areas for inputs 5. Use Excel to journalize the journal entries in the general journal. The account titles are available when you click the down-arrow. Use the Increase indent button on the Home tab to indent items 6. Adjust the manufacturing overhead account Prepare the journal entry b. Post to T-accounts List the ending balances for Raw Materials Inventory, Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold 7. Compare using a single plant-wide allocation rate versus using ABC costing to see how that could effect cookie pricing & Calculate allocation rates for each activity cost pool. b. Calculate total overhead allocated for each type of cookie Compare the amount of overhead allocated using a single plant-wide rate to using ABC costing 8 Classify costs from 1 Costs Classification as variable or fixed 9. Using the data gathered/calculated to this point, find out if Troll House Cookies is making a profit at their current sales price a. Use the contribution margin approach to compute the company's monthly breakeven point in units b. Use the contribution margin ratio approach to compute the breakeven point in sales dollars Use the contribution margin approach to compute the monthly sales level (in units) required to earn a target operating income of $5,000 d. Calculate the current operating income at the current sales level Instructions 1 Costs Classification 2.COGM 3.COGS 4 MOH Rate 5 Journal Entries 6. MOH adj and End. Bal. 7 ABC Costing