Excel work

The Coco Lamela Company (CLC) owns the global rights to sell a very fragile glass ornament called "Jack Wilshere's Tears The cost of goods sold for the ornaments are shown on the second page.CL.C sets its selling prices so that each unit sold returns a sixty percent gross margin. Data regarding administration and selling expenses for the past twelve months have been accumulated in order develop a budget estimate for an upcoming month. Coco Lamela's Marketing Department has reviewed this data and could not reach a conclusion as to what is the most appropriate independent variable for predicting variable and mixed costs. These costs may be dependent on shipping weight, unit sales, or distance shipped Marketing just doesn't know since they never had to take this accounting course. It is up to you to figure this out! REQUIRED: A. Get the information from the second page into your Excel workbook. Analyze the data to determine the behavior of each cost. Specifically, you need to determine whether the costs -Advertising, Commissions, Salaries, Packaging, and Cost of Goods Sold- are purely fixed, purely variable, or if they're mixed. You will also need to use Excel's RSQ function to determine what is the cost driver for those costs that are variable and/or mixed. These costs may be dependent on shipping weight, unit sales, or distance shipped. Shipping cost is purely variable with two cost drivers, and is based upon both miles and weight; 5 per mile and $2.97 per pound. B. Once the cost driver is determined for each of the mixed or variable costs you will need to develop the cost formula using the Excel SLOPE and INTERCEPT functions. It can be included in same area you used for requirement "A". C. The Coco Lamela Company wants to estimate profitability for the upcoming month. The following estimates are to be used: unit sales: 77,000; weight shipped: 67,000 pounds; distance shipped: 647,000 miles. First, prepare a pro forma Contribution Format Income Statement for the upcoming month. Regarding selling price, use the ROUND function to limit this amount to two decimal places. Then construct a Traditional Income Statement for the upcoming month. Make certain to present each cost/expense item separately on its own line -do not aggregate the costs D. While the Coco Lamela Company is based in the USA, and conducts business in dollars (USD), its two principle investors, Lewis & Levy,are English. To make the affairs of the company relatable to its investors Coco Lamela presents its financial information both in USD and British pounds (GBP). Copy and paste the conversion factor from http://www.xe.com/currencytables/ Use the February 20, 2019 close rate Once you paste the factor into your spreadsheet use the ROUND function to limit the value to the fourth decimal place. Using the pro forma income statements that you constructed for requirement C as your input, recreate those statements in British pounds (GBP) You must use Excel for this case. All non-input cells will either reference another cell or be a calculated (formula) cell. Format all the cells as "accounting" and the initial sales amount on the income statements as a "currency.Any variable cost elements that you discover should be displayed to four decimal places. The purpose of this case is to reinforce the concept of cost behavior, and to give you some Excel experience. Remember that readability and neatness count when you create your solution. This assignment is worth twenty-five points. While others may give you verbal assistance, this is to be your own work. Make sure to disclose whoyou helped, who helped you, or that you solved this completely alone Month 6 10 12 Cost Drivers Weight Shipped (pounds) 65,000 25,000 5,000 37,500 Distance Shipped (miles) 425,000 420,000 450,000 375,000 550,000 510,900 562,000 176,000 476,000 980,000 784,000 356,000 98,000 50,000 0,000 72,580 85, 38,000 34,000 58 76,000 55,000 0,000 58,900 84,300 9 29,000 33,000 36,000 54,000 59,000 62,000 56,000 Units Sold ,000 COSTS Cost of Goods Advertising 45,000 1,012,500 1,026,000 918,000 1,566,000 1,485,000 783,000 891,000 972,000 1,593,000 ,512,000 1,350,000 54,850 54,500 54,332 54,080 57,380 6,600 53,480 4,630 407 57,490 56,720 S5,859 Selling & Commissions 190,000 195,000 202,000 120,000 120,000 120,000 230,000 250,000 260,000 214,300 95,250 230,400 Salaries Packaging Shipping costs 186,000 283,000 265,000 166,000 182,000 197,000 286,000 273,000 257,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 220,000 340,000 330,000 200,000 210,000 240,000 380,000 350,000 290,000 234,313 279,950 251,265 203,033 259,171 291,100 209,380 223,340 308,860 The Coco Lamela Company (CLC) owns the global rights to sell a very fragile glass ornament called "Jack Wilshere's Tears The cost of goods sold for the ornaments are shown on the second page.CL.C sets its selling prices so that each unit sold returns a sixty percent gross margin. Data regarding administration and selling expenses for the past twelve months have been accumulated in order develop a budget estimate for an upcoming month. Coco Lamela's Marketing Department has reviewed this data and could not reach a conclusion as to what is the most appropriate independent variable for predicting variable and mixed costs. These costs may be dependent on shipping weight, unit sales, or distance shipped Marketing just doesn't know since they never had to take this accounting course. It is up to you to figure this out! REQUIRED: A. Get the information from the second page into your Excel workbook. Analyze the data to determine the behavior of each cost. Specifically, you need to determine whether the costs -Advertising, Commissions, Salaries, Packaging, and Cost of Goods Sold- are purely fixed, purely variable, or if they're mixed. You will also need to use Excel's RSQ function to determine what is the cost driver for those costs that are variable and/or mixed. These costs may be dependent on shipping weight, unit sales, or distance shipped. Shipping cost is purely variable with two cost drivers, and is based upon both miles and weight; 5 per mile and $2.97 per pound. B. Once the cost driver is determined for each of the mixed or variable costs you will need to develop the cost formula using the Excel SLOPE and INTERCEPT functions. It can be included in same area you used for requirement "A". C. The Coco Lamela Company wants to estimate profitability for the upcoming month. The following estimates are to be used: unit sales: 77,000; weight shipped: 67,000 pounds; distance shipped: 647,000 miles. First, prepare a pro forma Contribution Format Income Statement for the upcoming month. Regarding selling price, use the ROUND function to limit this amount to two decimal places. Then construct a Traditional Income Statement for the upcoming month. Make certain to present each cost/expense item separately on its own line -do not aggregate the costs D. While the Coco Lamela Company is based in the USA, and conducts business in dollars (USD), its two principle investors, Lewis & Levy,are English. To make the affairs of the company relatable to its investors Coco Lamela presents its financial information both in USD and British pounds (GBP). Copy and paste the conversion factor from http://www.xe.com/currencytables/ Use the February 20, 2019 close rate Once you paste the factor into your spreadsheet use the ROUND function to limit the value to the fourth decimal place. Using the pro forma income statements that you constructed for requirement C as your input, recreate those statements in British pounds (GBP) You must use Excel for this case. All non-input cells will either reference another cell or be a calculated (formula) cell. Format all the cells as "accounting" and the initial sales amount on the income statements as a "currency.Any variable cost elements that you discover should be displayed to four decimal places. The purpose of this case is to reinforce the concept of cost behavior, and to give you some Excel experience. Remember that readability and neatness count when you create your solution. This assignment is worth twenty-five points. While others may give you verbal assistance, this is to be your own work. Make sure to disclose whoyou helped, who helped you, or that you solved this completely alone Month 6 10 12 Cost Drivers Weight Shipped (pounds) 65,000 25,000 5,000 37,500 Distance Shipped (miles) 425,000 420,000 450,000 375,000 550,000 510,900 562,000 176,000 476,000 980,000 784,000 356,000 98,000 50,000 0,000 72,580 85, 38,000 34,000 58 76,000 55,000 0,000 58,900 84,300 9 29,000 33,000 36,000 54,000 59,000 62,000 56,000 Units Sold ,000 COSTS Cost of Goods Advertising 45,000 1,012,500 1,026,000 918,000 1,566,000 1,485,000 783,000 891,000 972,000 1,593,000 ,512,000 1,350,000 54,850 54,500 54,332 54,080 57,380 6,600 53,480 4,630 407 57,490 56,720 S5,859 Selling & Commissions 190,000 195,000 202,000 120,000 120,000 120,000 230,000 250,000 260,000 214,300 95,250 230,400 Salaries Packaging Shipping costs 186,000 283,000 265,000 166,000 182,000 197,000 286,000 273,000 257,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 220,000 340,000 330,000 200,000 210,000 240,000 380,000 350,000 290,000 234,313 279,950 251,265 203,033 259,171 291,100 209,380 223,340 308,860