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B Requirement 1 a. Identify the following as either a product cost or a period cost. b. Select the appropriate product cost category, or select expense. Description Coconut flakes used in the cookies. Depreciation on the ovens. Insurance on the computers used in the accounting office. Wages for the bakery security guard. Salaries of the bakers who make the cookies. Electricity for the bakery. Heating for the corporate headquarters. Freight for shipping the cookies to customers. Salary of the baking supervisor. C Cost Classification D E Category G H Fremont Troll House Cookies has been bakung coconut cookies for 27 years Classy manufacturing costs, and prepare schedules for the Cost of Goods Manufactured and the Cost of Goods Solt for the month ended March 31, 2018 Use Excel to classify costs as described below, (18 pes)) a Classify the costs as other period costs or product costs the To classify the cost, ckck in the cell A drop down arow will appear to the right Click amow and select either Product or Penod 6. Clanuly the product costs as direct matanals, direct labor, or manufacturing overhead To identify the classification, cick in the coll A drop down arow wil appear to the right manufacturing Click the arrow It is a product cost, select deoct malorias, drect labor, overhead. If it's a period cost, select experon Complete the Schedule of Cost of Goods Manufactured the the blue shaded was for inputs Use the following amounts direct madenials used, $2.500, direct labor, $3,000, mandachung overhead, $11,000, beginning work in process inventory, $1.500, and ending works inventory, $1,200 (13 pts) a Complete the heading b. To select the correct report canon, dick in the cel A drop down arrow will appear to the night Click the anow and select the appropriate caption from the alphabet ist cindend the captions for Direct Malenials Used, Deact Labor, and Manufacturing Overhead Use the Increase indent button on the Home tab en the Alignment secon d Complute the amounts to the right Use the Excel function SUM) to sum amounts on the schedule e Format the cells requang dollar signs Format undernes or double underlines as needed Bolace the total (Always use cell references and formulas where appropriate to receive full crede) Using the results from Requremont 2, calculate the cost per snit for goods manufactured assuming 1,000 unts were manufactured Use the blue shaded areas for inputs Use a formuis to calculate the cost per und (3 pts) Wome velforences and frommalas where appropriate In receive full credit) 13 ED VIEW Decandalf from the Internet.can.com.vines.Unless need to edit atero stay in Photo Enable Editing Step Instructions 5 Complete the Cost of Goods Sold schedule Beginning Finished Goods had 500 units that had a cost of $0.98 each. Ending Finished Goods Inventory had 700 units left. (12 pts) a. Complete the heading b. Using the results from Requirement 3, calculate cost of goods sold assuming FIFO inventory costing is used. c. To select the correct report caption, click in the cell. A drop down arrow will appear to the right. Click the arrow and select the appropriate caption from the alphabetical list d. Complete the amounts to the right. Use the Excel function SUM to derive the Cost of Goods Sold. e. Format the cells requiring dollar signs. 1. Format underlines or double underlines as needed. g Boldface the total. (Always use cell references and formulas where appropriate to receive full credit.) Once completed, save the project to the desktop. File name can be anything, but DO NOT include spaces. Retum to auto-graded excel activity window, and progress to Step 3. Follow on screen instructions. (To review score, navigate to Results in the MyLab and click on Review link.) Total Points 6 Points Possible 12 0 46 Complete the Schedule of Cost of Goods Manufactured ways use cell references and formulas where appropriate to receive fult credit. All values should be added as positive numbers) Schedule of Cost of Goods Manufactured AT Requirement 3 Using the results from Requirement 2, calculate the cost per unit for goods manufactured assuming 16,000 units were manufactured (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers) 22 Coit of Goods Manufactured 25 Total Units Produced Unit Product Cost 28 HINTS 30 All values other than the value for Ending Work in Process Inventory should be entered as positive valors. Use minn sign to enter the value for Leding Win 21 Process Inventory 32 Cell 10 011-013, E16, C2511e the real from the startins tal for calculations Tes not use a ENTERANSWERS2 INTERANSWERST instructions ENTERANSWERST 16 TO 201 21 B D E F G H 1 Requirement 4 2 Complete the Cost of Goods Sold schedule. 3 (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers.) Schedule of Cost of Goods Sold HINTS 17 All values other than the value for Ending Finished Goods Inventory should be entered as positive values. Use minus sign to enter the 18 value for Ending Finished Goods Inventory. 19 Cell | Hint: 20 D9:D10, D12 | Use an equal sign (-1, the appropriate cells and numeric values from the Instructions and ENTERANSWERS2 tabs 21 D11 | Use the function -SUM() to calculate the cost of goods available for sale.. 22 23 24 455 6 7 8 9 10 11 12 NMASKA 13 14 15 16 A M B Requirement 1 a. Identify the following as either a product cost or a period cost. b. Select the appropriate product cost category, or select expense. Description Coconut flakes used in the cookies. Depreciation on the ovens. Insurance on the computers used in the accounting office. Wages for the bakery security guard. Salaries of the bakers who make the cookies. Electricity for the bakery. Heating for the corporate headquarters. Freight for shipping the cookies to customers. Salary of the baking supervisor. C Cost Classification D E Category G H Fremont Troll House Cookies has been bakung coconut cookies for 27 years Classy manufacturing costs, and prepare schedules for the Cost of Goods Manufactured and the Cost of Goods Solt for the month ended March 31, 2018 Use Excel to classify costs as described below, (18 pes)) a Classify the costs as other period costs or product costs the To classify the cost, ckck in the cell A drop down arow will appear to the right Click amow and select either Product or Penod 6. Clanuly the product costs as direct matanals, direct labor, or manufacturing overhead To identify the classification, cick in the coll A drop down arow wil appear to the right manufacturing Click the arrow It is a product cost, select deoct malorias, drect labor, overhead. If it's a period cost, select experon Complete the Schedule of Cost of Goods Manufactured the the blue shaded was for inputs Use the following amounts direct madenials used, $2.500, direct labor, $3,000, mandachung overhead, $11,000, beginning work in process inventory, $1.500, and ending works inventory, $1,200 (13 pts) a Complete the heading b. To select the correct report canon, dick in the cel A drop down arrow will appear to the night Click the anow and select the appropriate caption from the alphabet ist cindend the captions for Direct Malenials Used, Deact Labor, and Manufacturing Overhead Use the Increase indent button on the Home tab en the Alignment secon d Complute the amounts to the right Use the Excel function SUM) to sum amounts on the schedule e Format the cells requang dollar signs Format undernes or double underlines as needed Bolace the total (Always use cell references and formulas where appropriate to receive full crede) Using the results from Requremont 2, calculate the cost per snit for goods manufactured assuming 1,000 unts were manufactured Use the blue shaded areas for inputs Use a formuis to calculate the cost per und (3 pts) Wome velforences and frommalas where appropriate In receive full credit) 13 ED VIEW Decandalf from the Internet.can.com.vines.Unless need to edit atero stay in Photo Enable Editing Step Instructions 5 Complete the Cost of Goods Sold schedule Beginning Finished Goods had 500 units that had a cost of $0.98 each. Ending Finished Goods Inventory had 700 units left. (12 pts) a. Complete the heading b. Using the results from Requirement 3, calculate cost of goods sold assuming FIFO inventory costing is used. c. To select the correct report caption, click in the cell. A drop down arrow will appear to the right. Click the arrow and select the appropriate caption from the alphabetical list d. Complete the amounts to the right. Use the Excel function SUM to derive the Cost of Goods Sold. e. Format the cells requiring dollar signs. 1. Format underlines or double underlines as needed. g Boldface the total. (Always use cell references and formulas where appropriate to receive full credit.) Once completed, save the project to the desktop. File name can be anything, but DO NOT include spaces. Retum to auto-graded excel activity window, and progress to Step 3. Follow on screen instructions. (To review score, navigate to Results in the MyLab and click on Review link.) Total Points 6 Points Possible 12 0 46 Complete the Schedule of Cost of Goods Manufactured ways use cell references and formulas where appropriate to receive fult credit. All values should be added as positive numbers) Schedule of Cost of Goods Manufactured AT Requirement 3 Using the results from Requirement 2, calculate the cost per unit for goods manufactured assuming 16,000 units were manufactured (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers) 22 Coit of Goods Manufactured 25 Total Units Produced Unit Product Cost 28 HINTS 30 All values other than the value for Ending Work in Process Inventory should be entered as positive valors. Use minn sign to enter the value for Leding Win 21 Process Inventory 32 Cell 10 011-013, E16, C2511e the real from the startins tal for calculations Tes not use a ENTERANSWERS2 INTERANSWERST instructions ENTERANSWERST 16 TO 201 21 B D E F G H 1 Requirement 4 2 Complete the Cost of Goods Sold schedule. 3 (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers.) Schedule of Cost of Goods Sold HINTS 17 All values other than the value for Ending Finished Goods Inventory should be entered as positive values. Use minus sign to enter the 18 value for Ending Finished Goods Inventory. 19 Cell | Hint: 20 D9:D10, D12 | Use an equal sign (-1, the appropriate cells and numeric values from the Instructions and ENTERANSWERS2 tabs 21 D11 | Use the function -SUM() to calculate the cost of goods available for sale.. 22 23 24 455 6 7 8 9 10 11 12 NMASKA 13 14 15 16 A M