Hi I have this project and am a bit lost i have attached the excel files an instructions if you could help explain what i would do and where things go. I am thinking about doing candied apples or popcorn how would i get started

Managerial Accounting, ACCT 102 Professor Kelson Summer Job Project Narrative: This summer you've decided to take on a new venture. After the spring semester ends, you're returning to your hometown for a few weeks. A local church is running its annual carnival and has offered you an opportunity to set up a booth. You have the chance to relive some of your favorite childhood food memories! In your booth space, you can sell any food item you wish (i.e. candied apples, cotton candy, poutine, lemonade, funnel cake, deep-fried Snickers). The carnival will run in the evenings for six days; each evening from 6:00 pm - 10:00 pm. As operator of this booth, you will need to buy all the materials, hire all of your labor (if needed), and pay 12.5% of your sales revenue to N&A Amusement Company and 12.5% of your sales revenue to the church. Additionally, you are required to pay the church a $200 rental cost (which includes utilities expense) for the booth space. You are very excited to put your managerial accounting skills and other business courses to use during the summer. In order to make this opportunity a good use of your time, you need to determine the feasibility/profitability of this venture. If successful, a good portion of the money you earn in the summer can go towards your college education (or that much needed trip to someplace tropical!). Project Requirements A. Determine your financial goal for this one-week venture. B. Briefly describe the product that you will sell at the carnival as well as all of the costs that you will have to incur during the week. On the Excel file (provided), classify each cost as variable, fixed, or mixed. For mixed costs, be sure to identify the variable and fixed components. C. You will need to research all of your costs: direct materials, direct labor, and overhead involved in making your product. On the Excel file tell me your source for each of these costs (e.g. list websites where you found your information). D. Perform market research to determine the appropriate price to charge for your product. E. Before you begin any business venture, it is essential to perform a preliminary breakeven analysis. Your findings provide the basis for assessing the reasonableness of this business opportunity. An important part of this breakeven analysis is for you to determine the contribution margin per unit. From parts C and D, you will be able to determine your contribution margin per unit. After determining your contribution margin per unit, answer the following questions: 1. What is the contribution margin per unit of your product? 2. What is the contribution margin ratio? 3. What are the total fixed costs? 4. What is the sales volume at the breakeven point? 5. What is the sales revenue in dollars at the breakeven point? 6. What is the sales volume in units required to reach your financial goal? 7. What is the sales revenue in dollars required to reach your financial goal? F. In addition to your calculations, summarize your results in one paragraph. Remember, your time to operate the booth has a value too; determine your earnings per hour to conclude if this opportunity is worth your time. A minimum two page Word document will address points A-F. Please organize your thoughts in a concise and academic manner. You will be graded on content, grammar, and spelling. Grading Rubric 3 Planning Statement as to the financial goal Description of the carnival food product Description of the costs to make the carnival food product Classification of each cost as fixed, variable, or mixed Determining the Cost and Selling Price of the Product Direct materials Direct labor Manufacturing overhead Selling price of the carnival food product Preliminary Breakeven Analysis Contribution margin per unit of the product Feasibility of your target profit Total fixed costs Sales volume at the breakeven point Sales revenue in dollars at the breakeven point Sales volume in units required to reach your financial goal Sales revenue in dollars required to reach your financial goal Summary Paragraph Structure and Content Content summarizes the results Professional language and tone Correct grammar and spelling Paragraph organization/Flow of paper External Research (Use, application and citation) Adequate resources to support all cost figures and selling price Total: ____________ Scoring: 0 - 41 points: Does not meet expectations 42 - 53 points: Meets expectations 54 - 60 points: Exceeds expectations SOURCE: C. Andrew Lafond, LaSalle University 2 1 0 Costs Carnival Cost Projections in Excel Course: ACCT 102 Section: Submitted by: online Material: Overhead: $ $0.00 Total Fixed: 250.00 Total Variable: $250.00 $ - Sales price per serving: $0.00 Variable cost per serving: $1.00 Contribution margin per serving: ($1.00) Direct Material per batch of XYZ Line Item Source Quantity Unit Cost Extended Cost Cost Type 1 $ - Variable 2 $ - Variable 3 $ - Variable 4 $ - Variable $ - Total direct material cost Page 1 of 8 Costs Carnival Cost Projections in Excel Course: ACCT 102 Section: Submitted by: online Material: Overhead: $ $0.00 Total Fixed: 250.00 Total Variable: $250.00 $ - Sales price per serving: $0.00 Variable cost per serving: $1.00 Contribution margin per serving: ($1.00) Manufacturing Overhead Line 5 Item Source Rate Booth rental $200 per week Extended Cost $ 200.00 Cost Type Fixed 6 Fixed 7 Fixed 8 Fixed 9 Fixed 10 Damage waiver on equipment www.rental-world.com 50.00 Fixed 11 Fixed 12 Fixed 13 Fixed 14 Fixed 15 Fixed 16 Fixed Total manufacturing overhead $ Page 2 of 8 250.00 Costs Carnival Cost Projections in Excel Course: ACCT 102 Section: Submitted by: online Material: Overhead: $ $0.00 Total Fixed: 250.00 Total Variable: $250.00 $ Sales price per serving: $0.00 Variable cost per serving: $1.00 Contribution margin per serving: ($1.00) - Fixed Costs Line 17 Item Total Amount Booth rental $ 200.00 18 19 20 21 22 Damage waiver 50.00 23 24 25 26 27 28 Total Fixed Costs $ Page 3 of 8 250.00 Costs Carnival Cost Projections in Excel Course: ACCT 102 Section: Submitted by: online Material: Overhead: $ $0.00 Total Fixed: 250.00 Total Variable: $250.00 $ Sales price per serving: $0.00 Variable cost per serving: $1.00 Contribution margin per serving: ($1.00) - Variable costs Line Item Cost per serving Basis 29 30 31 32 33 Fee paid to Church (% of sales price) $4.00 x 12.5% 0.50 34 Fee paid to Amusement Company $4:00 x 12.5% 0.50 Total Variable Costs $ SOURCE: C. Andrew Lafond, La Salle University Page 4 of 8 1.00 BREAK-EVEN ANALYSIS Fixed Cost Costs required to produce the first unit of a product. Definition Cost Total Fixed Costs $ Unit Selling Price: $1.00 The amount of money charged to the customer for each unit of a product or service. Expected Unit Sales: Number of units of the product projected to be sold over a specific period of time. Break-Even Units: SOURCE: C. Andrew Lafond, La Salle University 0 EAK-EVEN ANALYSIS Variable Cost Costs that vary directly with the production of one additional unit. Definiton Cost per unit 12.5% fee paid to Church ($ x 12.5%) 12.5% fee paid to Amusement Co. ($ x 12.5%) Total Variable Costs $ or each unit of a product or service. ld over a specific period of time. - Amount CARNIVAL BREAK-EVEN ANALYSIS 1,200.00 Total Fixed Costs: $0.00 Total Variable Unit Costs: $0.00 800.00 0 600.00 Expected Sales in Units: Price per Unit: $1.00 B/E point 1,000.00 Fixed Cost Total Cost Revenue 400.00 200.00 1,050 950 850 750 650 550 450 350 250 150 0.00 50 0 Break Even Units: Units Units Fixed Cost Variable Cost Total Cost Revenue Profit 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 850 900 950 1,000 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50.00 100.00 150.00 200.00 250.00 300.00 350.00 400.00 450.00 500.00 550.00 600.00 650.00 700.00 750.00 800.00 850.00 900.00 950.00 1,000.00 50.00 100.00 150.00 200.00 250.00 300.00 350.00 400.00 450.00 500.00 550.00 600.00 650.00 700.00 750.00 800.00 850.00 900.00 950.00 1,000.00 1,050 1,100 1,150 0.00 0.00 0.00 SOURCE: C. Andrew Lafond, La Salle University 0.00 0.00 0.00 0.00 0.00 0.00 1,050.00 1,100.00 1,150.00 1,050.00 1,100.00 1,150.00