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Hi! I am having such a hard time with this assignment and I am so confused. I have a concussion and it is making it
Hi! I am having such a hard time with this assignment and I am so confused. I have a concussion and it is making it so difficult for me to understanding. These assignments. I was wondering if someone could explain to me where I went wrong, how to fix it, and the right answers so I understand how to get there correctly. attached is the data for the workbook and the two excel pages that need to be fixed and have numerous errors. Thank you so much!
You plan to open a small business for manufacturing pet collars, leashes, and harnesses. You have found a workshop space you can use for sewing your products. After some research and planning, you have estimates for the various operating costs for your business. The total square footage for the sewing rooms is 1,500 square feet broken into three areas ( 500 square feet each). You have taken out a loan for start-up costs, and the monthly payment is $550; it goes into effect immediately and should be accounted for in your costs. You will also collect a modest salary for the first year of $500 per month; remember to divide evenly among the services. Salary and Hiring Data - One collar maker, who will be paid $16.00 per hour and work 40 hours per week - One leash maker, who will be paid $16.00 per hour and work 40 hours per week - One harness maker, who will be paid $17.00 per hour and work 40 hours per week - One receptionist, who will be paid $15.00 per hour and work 30 hours per week Other Costs - Rent: \$750 per month; allocate based on square footage - High-tensile strength nylon webbing -\$12 per yard of webbing - 3 collars per yard of webbing - 2 leashes per yard of webbing - 2 harnesses per yard of webbing - Polyesterylon ribbons $9 per yard of ribbon - 3 collars per yard of ribbon - 2 leashes per yard of ribbon - 2 harnesses per yard of ribbon - Buckles made of cast hardware $0.50 per buckle 4 buckles used per collar - 3 buckles used per leash - 8 buckles used per harness - 3 industrial sewing machines at $3,300 each for a total of $9,900; depreciation is $165 per month (5year life, zero salvage value) - Utilities and insurance: $600 per month; allocate based on square footage - Scissors, thread, cording: $1,200 - Price tags: $250 for 2,500 ( $0.10 each) - Office supplies: $2,400 or $200 per month - Other business equipment: $2,000 - Loan payment of $550 per month - Salary drawn of $500 per month INSTRUCTIONS: 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. 3 \begin{tabular}{|lrc} \hline & \multicolumn{2}{c}{ riable Costiltem } \\ \hline High-tensile strength nylon webb & $ & 4.00 \\ Polyesteringlon ribbons & $ & 3.00 \\ Buckles made of cast hardware & $ & 2.00 \\ Price tags & $ & 0.10 \end{tabular} \begin{tabular}{lrr} Item & Fixed Costs \\ \hline Collar maker's salary (monthly) & $ & 2.773 .33 \\ Depreciation on sewing machine & $ & 165.00 \\ Rent & $ & 750.00 \\ Utilities and insurance & $ & 250.00 \\ Scissors, thread, and cording & $ & 200.00 \\ Loan payment & $ & 183.33 \\ Salary to self & $ & 166.67 \end{tabular} Total Variable Costs per t9.10 Total Fized Costs +4.488.33 6 \begin{tabular}{|lrl} Item & \multicolumn{2}{c}{ riable Costiltem } \\ \hline High-tensile strength nylon webb & $ & 6.00 \\ Polyesterinylon ribbons & $ & 4.50 \\ Buckles made of cast hardware & $ & 1.50 \\ Price tags & $ & 0.10 \end{tabular} Item \begin{tabular}{lrr} \hline Leash maker's salary (monthly) & $ & 6.00 \\ Depreciation on sewing machine & $ & 165.00 \\ Rent & $ & 250.00 \\ Utilities and insurance & $ & 200.00 \\ Scissors, thread, and cording & $ & 1,200.00 \\ Loan payment & $ & 550.00 \\ Salary to self & $ & 166.67 \end{tabular} Harnesses \begin{tabular}{|lrr} Item & \multicolumn{2}{c}{ riable Costhtem } \\ \hline High-tensile strength nylon webb & $ & 6.00 \\ Polyesteringlon ribbons & $ & 4.50 \\ Buckles made of cast hardware & $ & 4.00 \\ Price tags & $ & 0.10 \end{tabular} Total Fixed Costs 2.537 .67 Total Yariable Costs per $14.60 Total Fized Costs 2.548 .67 You plan to open a small business for manufacturing pet collars, leashes, and harnesses. You have found a workshop space you can use for sewing your products. After some research and planning, you have estimates for the various operating costs for your business. The total square footage for the sewing rooms is 1,500 square feet broken into three areas ( 500 square feet each). You have taken out a loan for start-up costs, and the monthly payment is $550; it goes into effect immediately and should be accounted for in your costs. You will also collect a modest salary for the first year of $500 per month; remember to divide evenly among the services. Salary and Hiring Data - One collar maker, who will be paid $16.00 per hour and work 40 hours per week - One leash maker, who will be paid $16.00 per hour and work 40 hours per week - One harness maker, who will be paid $17.00 per hour and work 40 hours per week - One receptionist, who will be paid $15.00 per hour and work 30 hours per week Other Costs - Rent: \$750 per month; allocate based on square footage - High-tensile strength nylon webbing -\$12 per yard of webbing - 3 collars per yard of webbing - 2 leashes per yard of webbing - 2 harnesses per yard of webbing - Polyesterylon ribbons $9 per yard of ribbon - 3 collars per yard of ribbon - 2 leashes per yard of ribbon - 2 harnesses per yard of ribbon - Buckles made of cast hardware $0.50 per buckle 4 buckles used per collar - 3 buckles used per leash - 8 buckles used per harness - 3 industrial sewing machines at $3,300 each for a total of $9,900; depreciation is $165 per month (5year life, zero salvage value) - Utilities and insurance: $600 per month; allocate based on square footage - Scissors, thread, cording: $1,200 - Price tags: $250 for 2,500 ( $0.10 each) - Office supplies: $2,400 or $200 per month - Other business equipment: $2,000 - Loan payment of $550 per month - Salary drawn of $500 per month INSTRUCTIONS: 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. 3 \begin{tabular}{|lrc} \hline & \multicolumn{2}{c}{ riable Costiltem } \\ \hline High-tensile strength nylon webb & $ & 4.00 \\ Polyesteringlon ribbons & $ & 3.00 \\ Buckles made of cast hardware & $ & 2.00 \\ Price tags & $ & 0.10 \end{tabular} \begin{tabular}{lrr} Item & Fixed Costs \\ \hline Collar maker's salary (monthly) & $ & 2.773 .33 \\ Depreciation on sewing machine & $ & 165.00 \\ Rent & $ & 750.00 \\ Utilities and insurance & $ & 250.00 \\ Scissors, thread, and cording & $ & 200.00 \\ Loan payment & $ & 183.33 \\ Salary to self & $ & 166.67 \end{tabular} Total Variable Costs per t9.10 Total Fized Costs +4.488.33 6 \begin{tabular}{|lrl} Item & \multicolumn{2}{c}{ riable Costiltem } \\ \hline High-tensile strength nylon webb & $ & 6.00 \\ Polyesterinylon ribbons & $ & 4.50 \\ Buckles made of cast hardware & $ & 1.50 \\ Price tags & $ & 0.10 \end{tabular} Item \begin{tabular}{lrr} \hline Leash maker's salary (monthly) & $ & 6.00 \\ Depreciation on sewing machine & $ & 165.00 \\ Rent & $ & 250.00 \\ Utilities and insurance & $ & 200.00 \\ Scissors, thread, and cording & $ & 1,200.00 \\ Loan payment & $ & 550.00 \\ Salary to self & $ & 166.67 \end{tabular} Harnesses \begin{tabular}{|lrr} Item & \multicolumn{2}{c}{ riable Costhtem } \\ \hline High-tensile strength nylon webb & $ & 6.00 \\ Polyesteringlon ribbons & $ & 4.50 \\ Buckles made of cast hardware & $ & 4.00 \\ Price tags & $ & 0.10 \end{tabular} Total Fixed Costs 2.537 .67 Total Yariable Costs per $14.60 Total Fized Costs 2.548 .67Step by Step Solution
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