Hi Can you help me with the attached home work? See attached file and instructions.

Pangea Corporation Pangea manufactures sunglasses with various fashion frame options. Their sunglasses generally sell for $10-$15 per pair. The frames are created in-house (molded), with the lenses and screws purchased from other companies. As the cost accountant for their Delaware plant, you are responsible for budgeting, rate setting and investment analysis. Sometimes the plant management's plans and the requirements from corporate do not align. In "real life", you would discuss any differences with plant management and corporate to reach an agreement. For this project, use the data included below, as well as your best judgement and document any decisions you make as wel Week 1 Assignment 1) Create an annual operating budget for Pangea's Delaware plant for calendar year 2018. Use the budget methodologie Use the table (blue) and data provided below to create your budgets. Document any methodology, calculations or decision 2) Write a few bullet points or a short summary explaining your process, any difficulties, and how any decisions were rea Extra Credit 1) Prepare an annual financial (cash) budget for Pangea's Delaware plant for 2018. Use the budget methodologies in the Required Submit 1 Excel file for this project. The excel file should include the 2018 Operating budget with all backup calculations. If Extra Credit is submitted, include the 2018 Cash budget in the same Excel file (different tab is fine, if preferred). Summary of the process, difficulties, etc can be either included in a text box or Excel files (like this data). Your file should be formatted for printing, so that if the file is printed, no data is cut off. (Portrait or Landscape are both acc Data for Operating Budget Sales Purchased Raw Materials 2016 Full Year 2017 August YTD 7,687,500 6,000,000 3,075,000 2,400,000 Expense Category Salaries and Wages Fringe Benefits Travel & Entertainment Outside Contractors Manufacturing Supplies Parts and Tools Utilities Depreciation Warehousing Costs Total Operating Expenses 775,000 372,000 40,000 145,000 250,000 60,000 300,000 150,000 80,000 2,172,000 485,667 242,833 28,000 100,000 160,000 40,000 220,000 110,000 50,000 1,436,500 Sales and Advertising Exp 450,000 300,000 1,990,500 1,863,500 615,000 480,000 Income from Operations Volume Data for Operating Budget Pangea anticipates 5% increase in demand from the Delaware plant for 2018 (vs 2017). Sales are higher in the warmer portion of the year, so April-Sept sales are usually double Oct-Mar sales. Salaries and Wages includes 10 full time employees. Salaries will increase 3% for the same headcount (annual raises). Fringe Benefits are expected to be 50% of Salaries and Wages in 2018. 2016 and 2017 Outside Contractors includes 3 consultants used regularly. The plant wants to hire an additional outside contractor to help maintain the equipment in 2018. Manufacturing Supplies, Utilites and Warehousing Costs are generally volume-related. The plant is working on some efficiency improvements; these would reduce volume-related costs by approximately 3% for Sales expenses are expected to be consistent based on volume The plant is also interested in adding a new mixing tank to assist with the extra volume: cost would be $65,000 with estima Pangea hopes to finish paying off the loan on the Delaware plant in 2018. As of August 2017, there is $1,200,000 remainin Pangea plans to pay off $400,000 in Sep-Dec 2017 and the remaining $800,000 in 2018. Interest is paid monthly. The loan For simplicity sake, ignore income taxes. Additional Data for Cash Budget Collections from customers are one month lagging, on average. Payments for raw materials and operating expenses are also one month lagging, on average. Materials are purchased even The plant is also interested in adding a new mixing tank to assist with the extra volume: cost would be $65,000 with estima If possible, the plant would prefer to pay cash for the new tank; if not, financing is available at 5% interest over 5 years (not Minimum Cash Balance Desired is 1 month of Raw Material Purchases plus $100,000. Pangea hopes to finish paying off the loan on the Delaware plant in 2018. As of August 2017, there is $1,200,000 remainin Pangea plans to pay off $400,000 in Sep-Dec 2017 and the remaining $800,000 in 2018. Interest is paid monthly. The loan Employees Plant Manager Engineer Engineer Scheduler Senior Operator Senior Operator Operator Operator Operator Operator 2017 Salary 120,000 90,000 90,000 75,000 85,000 8,500 65,000 65,000 65,000 65,000 ir sunglasses generally sell for $10-$15 per pair. rchased from other companies. udgeting, rate setting and investment analysis. porate do not align. nd corporate to reach an agreement. ent and document any decisions you make as well as any assumptions as well. lendar year 2018. Use the budget methodologies in the text as well as the assumptions below. ument any methodology, calculations or decisions. (You may simply leave formulas in the cells for calculations.) any difficulties, and how any decisions were reached. t for 2018. Use the budget methodologies in the text as well as the assumptions below, Operating budget with all backup calculations. el file (different tab is fine, if preferred). ox or Excel files (like this data). ata is cut off. (Portrait or Landscape are both acceptable.) Data for Cash Budget Beginning Cash Balance Minimum Cash Balance desired Available Cash Balance 2016 Full Year 2017 August YTD 300,000 379,333 353,333 359,375 (53,333) 19,958 Cash receipts/disbursements Collections from Customers Payments for Raw Materials Payments for Operating Expenses Payments for Sales Expenses Purchase of new equipment Net Cash receipts/disbursements 7,500,000 (3,000,000) (2,150,000) (450,000) (150,000) 1,750,000 4,811,645 (2,068,958) (1,472,125) (300,000) 970,562 Excess/(def) cash before financing 1,696,667 990,520 Borrowing (Beg of year) Repayments (End of year) Interest Net Cash Inc/(Decr) from Financing (1,200,000) (117,334) (1,317,334) (800,000) (58,667) (858,667) 379,333 131,853 Ending Cash Balance 18 (vs 2017). usually double Oct-Mar sales. he equipment in 2018. ume-related. ce volume-related costs by approximately 3% for the 2nd half of 2018. extra volume: cost would be $65,000 with estimated life of 10 years. As of August 2017, there is $1,200,000 remaining on the 4% loan. 0,000 in 2018. Interest is paid monthly. The loan does not compound interest, gging, on average. Materials are purchased evenly throughout the year. extra volume: cost would be $65,000 with estimated life of 10 years. ancing is available at 5% interest over 5 years (not compounding) s $100,000. As of August 2017, there is $1,200,000 remaining on the 4% loan. 0,000 in 2018. Interest is paid monthly. The loan does not compound interest, alculations.) Pangea Corporation Pangea manufactures sunglasses with various fashion frame options. Their sunglasses generally sell for $10-$15 per pair. The frames are created in-house (molded), with the lenses and screws purchased from other companies. Week 3 Assignment 1) Using your annual budget data from Week 1 and the data provided, calculate the fixed and variable costs for the 3 produc 2) Using your annual budget data from Week 1 and the data provided, calculate the standard costs of the 2 product lines pro Note: You will be using activity based costing; the various cost drivers available are specified in the data 3) Using the budgeted sales data, calculate the standard gross margin for each of the 2 products - both per unit and total gro Note: Present the standard gross margin in a contribution income statement format (per unit for each product line and total fo Note: Because we are costing products and only calculating through standard gross margin, Sales and Advertising Expense and 4) Write a paragraph explaining the results and recommending which product line would be best to advertise to gain additio Plant Equipment Pangea's Delaware plant has 3 production departments: Mixing, Extruding, and Assembly The Mixing department has 1 mixing tank (to mix the plastic), and the Extruding department has 2 extruders (that fill metal mo Each of the three machines was purchased when the plant first started up, and they all had the same original cost and useful li Assembly does not use any production equipment. Mixing uses 40% of the plant's warehouse square footage as well as 40% of utilities costs. Extruding use 40% of the plant's warehouse square footage as well as 40% of utilities costs. Assembly uses 20% of the plant's warehouse square footage as well as 20% of utility costs (climate controlled area). Other plant department information 20% of total Salaries are attributable to the mixing tank 30% of total Salaries are attributable to the extruding line 50% of total Salaries are attributable to the assembly area Fringe Benefits and Travel expenses are allocated the same as Salaries The contractors divide their time between the mixing tank and extruder areas (50% each). Manufacturing supplies are use evenly by all production areas. Parts and Tools are used only in the assembly area. Cost Driver The main cost driver is machine hours for the Mixing and Extruding Department, and Man Hours for the Assembly Department The Mixing Department expects to run 40 hours per week for 50 weeks this year. The Extruding Department expects to run 40 hours per week for 50 weeks this year - for each machine. The 5 employees in the Assembly Department are expected to each work 40 hour weeks for 50 weeks this year. Product Information There are two different frame styles produced in Pangea's Delaware manufacturing plant. Your budget from the prior weeks o Your budgeted volume will be divided by product as follows: 60% Rayz frames, and 40% Beamz frames Rayz glasses sell for $11.50 each, and Beamz glasses sell for $14.00 each. Purchased Material Costs Each pair of sunglasses requires 2 lenses, 4 screws, and 0.5 gallons of plastic polymer (which gets made into frames) Sunglass lenses cost $1.00 per lens, and screws cost $0.10 per screw. Polymer costs $5.00 per gallon Production of Sunglasses Each batch of sunglasses makes 1000 pairs of sunglasses. One batch of Rayz glasses takes 3 hours in the Mixing Department, 5 hours in the Extruding Department, and 12 hours in Assem One batch of Beamz glasses takes 3 hours in the Mixing Department, 8 hours in the Extruding Department, and 21 hours in Ass ly sell for $10-$15 per pair. d variable costs for the 3 production departments. costs of the 2 product lines produced in your factory. cts - both per unit and total gross margin with budgeted volume. or each product line and total for each product line) les and Advertising Expense and Interest Expense can be ignored this week. best to advertise to gain additional sales, and why you chose that product line. as 2 extruders (that fill metal molds with plastic to form the sunglass frames). e same original cost and useful life. mate controlled area). rs for the Assembly Department 0 weeks this year. r budget from the prior weeks only included total volume. ets made into frames) partment, and 12 hours in Assembly Department, and 21 hours in Assembly