Deadline: you must submit this assignment electronically via Canvas using the submission link I have provided in the nodule by 11:59pm, Sunday 3/5. Make sure your name, your TA's name, and your discussion section time are clearly ndicated on your submission to ensure you receive credit. 1 - Cost Classifications (2pts): Listed below are costs for a firm that produces of soccer jerseys. For each cost, ill in the table below and indicate which of the following classifications best describe the cost. If the cost is a nanufacturing cost, decide whether it is a DM, DL, or Factory OH cost. If the cost is a non-manufacturing cost, lecide whether it is a selling or a general \& administrative cost. Deadline: you must submit this assignment electronically via Canvas using the submission link I have provided in the module by 11:59pm, Sunday 3/5. Make sure your name, your TA's name, and your discussion section time are clearly indicated on your submission to ensure you receive credit. 2 - flow of costs; schedule of cost of goods manufactured (5pts): Below is the information for the current month ended 1/31/2023 for Bird's Beans, Inc., a coffee manufacturer. Assume all Raw Materials were used as Direct Materials and that all Factory Overhead Costs are assigned to Work in Process Inventory. a. Calculate the cost of direct materials used during the month. b. Calculate total manufacturing costs for the month. c. Calculate the cost of goods manufactured (COGM) for the month. d. Calculate the cost of goods sold (COGS) during the month. e. Prepare an income statement for the month ended 1/31/2023 (assume no income tax expenses; see Thursday's class slides as well as exhibits 1.12 and 1.15 from ch.1 of Wild, Managerial Accounting, in our custom text for examples of format for a manufacturer). Deadline: you must submit this assignment electronically via Canvas using the submission link I have provided in the module by 11:59pm, Sunday 3/5. Make sure your name, your TA's name, and your discussion section time are clearly indicated on your submission to ensure you receive credit. Question 3 - Inventory accounts (3pts): Using the excerpts below from Kraft Heinz Financial Statements and Notes to Financial Statements from its 2020 annual report, answer the following (NOTE: all numbers given in the excerpts are in \$millions): a. If Kraft Heinz used $5,198 million worth of 'Packaging and ingredients' during the fiscal year ended 12/26/2020, how much 'Packaging and ingredients" did they purchase during the fiscal year ended 12/26/2020? Assume all 'Packaging and ingredients' were used as direct materials. b. Calculate the 'Cost of Goods Manufactured' for Kraft Heinz for the fiscal year ended 12/26/2020. c. Using your answer to part b, calculate the 'Total Manufacturing Costs' for Kraft Heinz for the fiscal year ended 12/26/2020. The Kraft Heinz Company Consolidated Balance Sheets (in millions, except per share data) Note 7. Inventories Inventories consisted of the following (in millions): The Kraft Heinz Company Consolidated Statements of Income (in millions, except per share data)
