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please help me fill out the analysis chart down below and answer the discussion at the bottom The secret is out! Your catering has been
please help me fill out the analysis chart down below and answer the discussion at the bottom
The secret is out! Your catering has been such a hit that you finally opened a small bakery just around the corner. You no longer track costs by job. You have switched to a process costing system. You have three different major processes: mixing, baking, and packaging. Because your business is booming, you purchase ingredients in bulk which has reduced the cost but the new brick-and-mortar store has increased fixed costs. Perform an analysis on the bakery's performance and draft recommendations for making it better. Pay special attention to the "Assumptions" section. | |||||||||
Recent purchases | |||||||||
Material | 15-Jan | 7-Feb | 1 | ||||||
Amt | Cost | Total | Amt | Cost | Total | ||||
Flour (pounds) | 47 | $ 1.75 | $ 82.25 | 32 | $ 2.01 | $ 64.40 | |||
Butter (pounds) | 12 | $ 0.75 | $ 9.00 | 17 | $ 0.86 | $ 14.66 | |||
Sugar (pounds) | 51 | $ 1.00 | $ 51.00 | 30 | $ 1.15 | $ 34.50 | |||
Eggs (dozen) | 17 | $ 0.75 | $ 12.75 | 15 | $ 0.86 | $ 12.94 | |||
Milk (gallons) | 10 | $ 1.50 | $ 15.00 | 12 | $ 1.73 | $ 20.70 | |||
Vanilla (gallons) | 10 | $ 2.50 | $ 25.00 | 12 | $ 2.13 | $ 25.50 | |||
Cocoa Powder (pounds) | 20 | $ 2.00 | $ 40.00 | 25 | $ 1.70 | $ 42.50 | |||
Vanilla Icing (pounds) | 10 | $ 1.00 | $ 10.00 | 17 | $ 0.85 | $ 14.45 | |||
Chocolate Icing (pounds) | 10 | $ 1.15 | $ 11.50 | 20 | $ 0.98 | $ 19.55 | |||
Bakery box | 100 | $ 0.20 | $ 20.00 | 75 | $ 0.17 | $ 12.75 | |||
TOTAL | $ 276.50 | $ 261.95 |
Analysis chart | ||||
1. Calculate the average cost per unit. | ||||
2. Calculate the Cost of Goods PRODUCED for all products | ||||
3. Calculate the Cost of Goods SOLD and the profit or loss for all products | ||||
Vanilla cupcakes w/ vanilla icing | Vanilla cupcakes w/ chocolate icing | |||
Material | Total Cost | Material | Total Cost | |
Flour | Flour | |||
Butter | Butter | |||
Sugar | Sugar | |||
Eggs | Eggs | |||
Milk | Milk | |||
Vanilla | Vanilla | |||
Vanilla Icing | Chocolate icing | |||
Bakery Box | Bakery Box | |||
Labor: Baker | Labor: Baker | |||
Labor: Apprent | Labor: Apprent | |||
Overhead | Overhead | |||
Total Cost | Total Cost | |||
Customer Price | Customer Price | |||
Total Profit/Loss | Total Profit/Loss | |||
Chocolate cupcakes w/ chocolate icing | Chocolate cupcakes w/ vanilla icing | |||
Material | Total Cost | Material | Total Cost | |
Flour | Flour | |||
Butter | Butter | |||
Sugar | Sugar | |||
Eggs | Eggs | |||
Milk | Milk | |||
Cocoa Powder | Cocoa Powder | |||
Chocolate icing | Vanilla Icing | |||
Bakery Box | Bakery Box | |||
Labor: Baker | Labor: Baker | |||
Labor: Apprent | Labor: Apprent | |||
Overhead | Overhead | |||
Total Cost | Total Cost | |||
Customer Price | Customer Price | |||
Total Profit/Loss | Total Profit/Loss |
10 Points for the discussion question | |||||||||||
Evaluate the profitability of each cupcake category. Recommend ways to optimize operations. Operations includes controlling costs and inventories, improving efficiency, etc. |
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