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How do I fill out the reminder of production cost report based on the information given. These are the original instructions that I was given.
How do I fill out the reminder of production cost report based on the information given. These are the original instructions that I was given.
Part 2: Develop costing and sales information for 1,000 cookies.
- Estimate and explain the cost per cookie based on job order costing (manufacturing overhead is 30% of direct labor costs). Prepare a job order cost sheet by researching and identifying the top five ingredients and their estimated costs as your direct materials. Research and identify the cost of wages for your two employees as your direct labor. It typically takes two days to make 1,000 cookies.
- Estimate and explain the cost per cookie based on process costing with 40% conversion costs. Identify the top three processes you feel are needed to make the cookies and prepare a production cost sheet for one of those processes.
- Estimate and explain the sales price you plan to set per cookie based on the cost data.
- 2 1/4 Cups of Flour 50 lb bag of fl $20.12 17 July 9 hrs $12 $108 $32.40 1/2 Cup CannaButter $8, 143.47 17 July 80 hrs $25 $2,000 $600.00 2 Cups of Toll house Semi-Sw $152.95 3/4 Cup Granulated Sugar $16.23 3/4 Cup of packed Brown Sug: $20.96 Total $8,351.00 $2, 108 -$632.40 Cost Summary Direct Materials $8,351.00 Direct Labor $2, 108.00 Manufacturing Overhead -$632.40 -$11,091.40 Units 1,000 Cost per unit $11.10 EDUHbles Production Cost Report Department: Mixing Cost: Material Labor Overhead Trans In Total Beginning WIP $0.00 $0.00 $0.00 $0.OC Cost incurred $8,351.00 $2, 108.00 $632.40 $11,091.40 Total $8,351 $2,108 $632.40 $11,091.40 Units: 1,000 Units Completed Equivalent Units (ending WIP) Total Cost per Equivalent unit
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