Good afternoon,

I am stuck on the last two sheets of my 5-2 ACC 202 Milestone Thee: Actual Costs & Revenue Data Appendix

which is the Income Statement & Variances tabs (last 2 Excel sheets). Here's what I have completed so far:

2 Milestone One - Cost Classification 5 INSTRUCTIONS: 6 Putting an X in the appropriate spot, classify the costs as: Direct Material, Direct Labor, Overhead, or Period Costs. The Fixed and Variable cost classifications have been provided for you. Direct Direct Item/Cost Material Labor Overhead Period Costs Fixed Variable Salary - Collar maker X 13 Salary - Leash maker Salary - Harness maker X 15 Salary - Receptionist High-tensile strength nylon webbing 17 Polyesterylon ribbons A - - . . . .. Buckles made of cast hardware X 19 Depreciation on sewing machines 20 Rent 21 Utilities and insurance Scissors, thread, and cording 23 Price tags 24 Office supplies 25 Other business equipment 16 Loan payment 27 Salary to self 28 29 41 Cost Classification Variable and Fixed Costs Contribution Margin Analysis Break-Even Analysis COGS Income Statement VariancesMilestone One - Variable and Fixed Costs Collars Item Variable Cost/Item Item Fixed Costs LD 1 High-tensile strength nylon webbing 3 4.00 Collar maker's salary (monthly) 2,773.33 516 per hr.*40 hrs. per wk)*52 wks. per yr./12 months =$2,773.33 10 Polyesterylon ribbons 3.00 IDepreciation on sewing machines 55.00 $3,300/60 months - 5 yrs. =$55 11 Buckles made of cast hardware in ut ut 2.00 Rent 250.00 $750 per month*($500/$1,500 square foot)=$250 12 Price tags 0.10 Utilities and insurance 200.00 $600 per months*($500/1,500)=$200 13 Scissors, thread, and cording 400.00 $1,200/3 products =$400 14 Loan payment 183.33 $550*($500/1,500 square foot) =$183.33 15 Salary to self 166.67 $500 per month/3 services = $166.67 16 17 19 Total Variable Costs per Collar 9.10 Total Fixed Costs 1,028.33 20 22 23 Leashes 5 Iten Variable Cost/Item tem Fixed Costs 27 High-tensile strength nylon webbing $ 6.00 Leash maker's salary (monthly) ,773.33 (516 per hr.*40 hrs. per wk)*52 wks. per yr./12 months =$2,773.33 28 Polyesterylon ribbons 4.50 Depreciation on sewing machines 55.00 $3,300/60 months - 5 yrs. =$55 29 Buckles made of cast hardware 1.50 Rent 250.00 $750 per month *($500/$1,500 square foot)=$250 30 Price tags 0.10 Utilities and insurance 200.00 $600 per months*($500/1,500)=$200 31 Scissors, thread, and cording 400.00 $1,200/3 products =$400 32 Loan payment 183.33 $550*($500/1,500 square foot)=$183.33 33 Salary to self 166.67 $500 per month/3 services =$166.67 34 35 36 38 Total Variable Costs per Leash S 12.10 Total Fixed Costs S 4,028.33 39 41 Harnesses 44 Item Variable Cost/Item Item Fixed Costs 46 High-tensile strength nylon webbing $ 6.00 Harness maker's salary 2,946.67 ($17 per hr.*40 hrs. per wk)*52 weeks per yr./12 months =$2,946.67 47 Polyesterylon ribbons 4.50 Depreciation on sewing machines 55.00 $3,300/60 months - 5 yrs. =$55 in in ut 48 Buckles made of cast hardware 4.00 Rent 250.00 $750 per month*($500/$1,500 square foot)=$250 49 Price tags 0.10 Utilities and insurance 200.00 $600 per months*($500/1,500)=$200 50 Scissors, thread, and cording 400.00 $1,200/3 products =$400 51 Loan 183.33 $550*($500/1,500 square foot)=$183.33 52 Salary to self 166.67 $500 per month/3 services =$166.67 53 54 Total Variable Costs per Harness S 14.60 Total Fixed Costs S 4,201.67 60A E G H 3 Milestone Two - Contribution Margin Analysis 4 5 6 COLLARS LEASHES HARNESSES 8 Sales Price per Unit S 20.00 S 22.00 25.00 Variable Cost per Unit 9.10 12.10 14.60 11 Contribution Margin S 10.90 S 9.90 10.40 12A B D E G H 2 Milestone Two - Break-Even Analysis 3 4 COLLARS LEASHES HARNESSES 7 Sales Price S 20.00 S 22.00 25.00 8 9 Fixed Costs S 4,028 S 4,028 S 4,202 10 11 Contribution Margin S 10.90 S 9.90 S 10.40 12 13 Break-Even Units (round up) 370 407 404 14 16 17 Target Profit S 300.00 S 400.00 S 500.00 18 19 Break-Even Units (round up) 397 447 452 20 22 23 Target Profit S 500.00 S 600.00 S 650.00 24 25 Break-Even Units (round up) 415 468 467 26 78A B C D 1 Milestone Three - Statement of Cost of Goods Sold 3 4 6 Beginning Work in Process Inventory 7 Direct Materials: Materials: Beginning 9 Add: Purchases for month of January S 20,000 11 Materials available for use 20,000 12 Deduct: Ending materials (4,000) 14 Materials Used 16,000 15 Direct Labor 8,493 16 Overhead 3,765 18 Total Costs 28,258 19 20 Deduct: Ending Work in Process Inventory 0 21 22 Cost of Goods Sold S 28,258 23 241 2 Milestone Three - Income Statement 3 A 5 Revenue: 6 Collars 7 Leashes 8 Harnesses 9 10 Total Revenue: 11 Cost of goods sold 12 Gross profit S 13 14 Expenses: 15 General and administrative salaries 16 Office supplies 17 Other business equipment 18 Total Expenses $ 20 21 Net Income/Loss $ 22 23 24 26A B C D E F Milestone Three - Variance Analysis 4 5 Data for Variance Analysis: Budgeted Budgeted Actual Actual (Standard) (Standard) Hours/Qty Rate 6 Hours/Qty Rate 7 8 Labor 9 10 11 Materials 12 13 14 15 Variances for Collar Sales Favorable/ 16 Variance Unfavorable 17 Direct Labor Time Variance 18 (Actual Hours - Standard Hours) x Standard Rate 19 20 Direct Labor Rate Variance 21 (Actual Rate - Standard Rate) x Actual Hours S 22 23 Direct Materials Quantity/Efficiency Variance 24 (Actual Quantity - Standard Quantity) x Standard Price S 25 26 Direct Materials Price Variance 27 (Actual Price - Standard Price) x Actual Quantity S 28 29