HELP WITH PART 2-5 PLEAAAASSSEEEEE

PART 2: Costing Systems (Chapter 4) - 25 Points Jamie discussed the business plan with her accounting professor who agreed to serve as her part time accountant. His first advice was for the business to develop a budget. Since Jamie did not complete her Accounting Degree, she was not aware of the various costing systems that exist in businesses. Her accounting professor told Jamie of two of the many different types of costing systems that exist in organizations - job order and process costing. Required: Which type of costing system is J\&J Bakery most likely to use? Explain why this is the case? PART 3: Business Transactions (Chapter 4 \& ACCT-111) - 25 Points Jamie spent the month of December talking to various suppliers in order to determine her cost structure. She has presented cost data information in Table 1. TABLE 1: COST INFORMA TION J\&J Bakery Inc. opened for business on January 1,2015 as planned. During the month Since Jamie did not know how to perform this calculation and in order to save money, of January, the business purchased and used 200 pounds of flour, 200 pounds of sugar, she asked you to calculate the company's breakeven point and the target sales need to 67 dozen eggs, 20 baking soda boxes, 200 pounds of butter, 100 pounds of raisins, 50 achieve a monthly profit of $500. bottles of rum, and the other ingredients (one box of each for a total of four) all from one supplier on account. Manufacturing overhead is applied during production of the cakes Required: Calculate J\&J Bakery Inc's breakeven point in both units and sales dollars. at a rate of $4.00 per cake. Also, calculate the sales needed in order to achieve a monthly profit of $500.Use four Jamie purchased the oven using the start-up capital and paid all salaries. Her nieces worked 300 hours in total for the month. January was a very good month for the bakery since it baked 200 cakes and sold all for cash. The average selling price was $50 per cake. All manufacturing overhead is closed out at month end by making the appropriate journal entry to the Cost of Goods Sold Account. The supplier was paid at month end. Required: Document J\&J Bakery Inc. January transactions using journal entries (round all calculations to 2 decimal places). Presume that all transactions are paid in cash if appropriate (no need for an Accounts Payable). PART 4: Reporting (Chapter 2) - 25 Points Since Jamie was not paying much attention to the discussion on journal entries in her one accounting class, she does not understand the journal entries that you provided. However, she heard through her accountant that there is a manufacturing report that would provide her with the same information as the posted journal entries presented as a trial-balance. She believes there are reports that will more succinctly summarize the data in a better format. Required: Prepare a Schedule of Cost of Goods Manufactured for January. Prepare a Schedule of Cost of Goods Sold for January Prepare an Income Statement for January (There are examples of these reports in chapter 2) PART 5: Breakeven Analysis/Target Sales (Chapter 3) - 25 Points Although business was off to a good start in January, Jamie realized that she will need to be profitable in order to continue as a viable business. Jamie discussed the subject of profitability with her accountant who suggested that she first needs to determine her breakeven point in both unit sales and dollars. He explained to her that break-even is the point where all costs are covered by sales and so, profit is equal to zero. He also suggested that the company should establish monthly target profitability levels in order to determine the amount of cakes it would need to sell to achieve the desired result. PART 2: Costing Systems (Chapter 4) - 25 Points Jamie discussed the business plan with her accounting professor who agreed to serve as her part time accountant. His first advice was for the business to develop a budget. Since Jamie did not complete her Accounting Degree, she was not aware of the various costing systems that exist in businesses. Her accounting professor told Jamie of two of the many different types of costing systems that exist in organizations - job order and process costing. Required: Which type of costing system is J\&J Bakery most likely to use? Explain why this is the case? PART 3: Business Transactions (Chapter 4 \& ACCT-111) - 25 Points Jamie spent the month of December talking to various suppliers in order to determine her cost structure. She has presented cost data information in Table 1. TABLE 1: COST INFORMA TION J\&J Bakery Inc. opened for business on January 1,2015 as planned. During the month Since Jamie did not know how to perform this calculation and in order to save money, of January, the business purchased and used 200 pounds of flour, 200 pounds of sugar, she asked you to calculate the company's breakeven point and the target sales need to 67 dozen eggs, 20 baking soda boxes, 200 pounds of butter, 100 pounds of raisins, 50 achieve a monthly profit of $500. bottles of rum, and the other ingredients (one box of each for a total of four) all from one supplier on account. Manufacturing overhead is applied during production of the cakes Required: Calculate J\&J Bakery Inc's breakeven point in both units and sales dollars. at a rate of $4.00 per cake. Also, calculate the sales needed in order to achieve a monthly profit of $500.Use four Jamie purchased the oven using the start-up capital and paid all salaries. Her nieces worked 300 hours in total for the month. January was a very good month for the bakery since it baked 200 cakes and sold all for cash. The average selling price was $50 per cake. All manufacturing overhead is closed out at month end by making the appropriate journal entry to the Cost of Goods Sold Account. The supplier was paid at month end. Required: Document J\&J Bakery Inc. January transactions using journal entries (round all calculations to 2 decimal places). Presume that all transactions are paid in cash if appropriate (no need for an Accounts Payable). PART 4: Reporting (Chapter 2) - 25 Points Since Jamie was not paying much attention to the discussion on journal entries in her one accounting class, she does not understand the journal entries that you provided. However, she heard through her accountant that there is a manufacturing report that would provide her with the same information as the posted journal entries presented as a trial-balance. She believes there are reports that will more succinctly summarize the data in a better format. Required: Prepare a Schedule of Cost of Goods Manufactured for January. Prepare a Schedule of Cost of Goods Sold for January Prepare an Income Statement for January (There are examples of these reports in chapter 2) PART 5: Breakeven Analysis/Target Sales (Chapter 3) - 25 Points Although business was off to a good start in January, Jamie realized that she will need to be profitable in order to continue as a viable business. Jamie discussed the subject of profitability with her accountant who suggested that she first needs to determine her breakeven point in both unit sales and dollars. He explained to her that break-even is the point where all costs are covered by sales and so, profit is equal to zero. He also suggested that the company should establish monthly target profitability levels in order to determine the amount of cakes it would need to sell to achieve the desired result