Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

EXCEL work: Cost terms Yummy Carrot Cakes Company is a manufacturing company that makes cakes. Its computer system produces reports on a monthly basis. Three

image text in transcribed
image text in transcribed
image text in transcribed
EXCEL work: Cost terms Yummy Carrot Cakes Company is a manufacturing company that makes cakes. Its computer system produces reports on a monthly basis. Three cost items in the reports are factory rent (in Table 1), carrot in Table 2), and milk (in Table 3). Tables 1 to 3 below show some data extracted from the reports; some data are missing, please calculate them. abl No. of FG units Total Rent cost Month cakes 2000 1800 2100 2600 2250 rent cost perunit 3000 3000_ 3000 3000 3000 Feb Mar April a) Re Table 1, a plot of "total cost" of factory rent (y-axis) and number of cakes (x-axis) would look like this: Total rent number of cakes b)A plot of "rent cost per cake" (y-axis) and number of cakes (x-axis) would look like this: Rent c per cake number of cakes c)....... Please refer to Table 1, is factory rent cost a variable cost (VC) or a fixed cost (FC)? Table 2 below is for the same company for the same accounting periods. You can refer to Table 1 to fill in some of the missing data. able No of lbs Lotal sarrot Carrot cost Carrot cost percaks Month used per lb Ne of cakes Peends per cake an 1000 Feb Mar 1050 Apei 1300 May 1125 0.2 0.2 0.2 2100_ d)..Re Table 2, a plot of "total cost" of carrot (y-axis) and number of cakes (x-axis) would look like this: Total cost 0 number of cakes e).A plot of "carrot cost per cake" (y-axis) and number of cakes (x-axis) would look like this: Carrot cost cake 0 number of cakes f. Is carrot cost a VC or FC? g).Is carrot cost a direct material, direct labor, or overhead? g)Is carrot cost a direct material, direct labor, or overhead? riat Milk seat per Jan 300 Feb 270 Mar 315 Api 390 May 337.s $0.80 S0.80 S0.80 50.80 h).Re Table 3, a plot of "total cost" of milk (y-axis) and number of cakes (x-axis) would look like this: Total milk cost number of cakes i)...Is milk cost a VC or FC? j)Re Table 3, the relationship between milk cost (y-axis) and number of cakes (x-axis) can be represented by the following formula Total milk cost- Is milk cost a direct material, direct labor, or overhead? x number of cakes X k).. I).. . . . ..Using the information available in Tables 1 to 3, ONE carrot cake requires: Quantity x Price Cost lbs. of carrots @ S per lb.S pints of milk @Se pint s

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions