Please provide excel calculations for the answers and respond to the last question attached! Thanks

Purpose: Apply real world analysis to a problem faced by a local company using the skills learned in the class. Apple Hilly Farms Ned Hilly was an investment banker and worked in San Francisco at a large bank. As retirement got closer his wife, Sally, and him decided to spend their retirement up in the Sierra Nevada foothills by buying an apple farm in Apple Hill. All their kids were grown and their youngest daughter, Nikki, was finishing an accounting degree at Sac State, whom they were hoping would help them out with the books once she was done. A few years go by and the farm life is bustling. They had a U-Pick your own apples at the farm which cut down costs of running the farm, though they ended up with more apples than they could sell that first year. The second year, Sally came up with the idea of opening a bakery on the farm. She was an excellent baker; she makes the best apple pie west of the Mississippi, at least her family thought so. The bakery was a success that year, more so than expected. Sally made homemade apple pies and caramel apples with her special caramel sauce. In the following year, they expanded bakery operations to include more staff and an extra space for baking. Ned wasn't too sure if the expansion was going to be profitable, he had an idea of the costs involved with apple pie and caramel apple production, but he couldn't pinpoint the details. Since Apple Hill is a seasonal business he wanted to know how well his business did in the peak season to ensure that it made enough to cover the costs in the off-season. Luckily, Nikki just graduated in May and she would be able to work with Ned to work out the details and come up with some possible advice and solutions to his questions. Nikki started by talking with her parents about some of the estimated sales and costs that they thought would incur for the month of September. Here are some of those estimates: Caramel Total Apple Pies Apples Sales price (per unit) $22.00 $8.00 Expected sales units (for September) 15,000 6,000 9,000 Total $20,150.00 Expected Manufacturing costs: Fixed OH (per month) Direct labor (per unit) Direct materials (per unit) Variable OH (per unit) Apple Pies $16,500.00 $3.50 $2.50 $2.00 Caramel Apples $3,650.00 $2.10 $1.75 $0.75 Expected Marketing and admin costs: Fixed costs (per month) Variable costs (per unit) $5,750.00 $4,500.00 $1.25 $1,250.00 $0.25 Additionally, Sally informed her that the farm received a special order to sell their apple pies and caramel apples at the local county fair in September. Sally wanted to sell 3,250 pies and 4,250 caramel apples for a discounted price of $18.00 and $6.50, respectively. With the amount of staff and the size of the bakery, Nikki determined that the maximum capacity for the bakery is 3.700 labor hours a month. At the current projected sale amounts she expects that they'll need 2,850 hours to meet their regular sales volume. After review of the salaries of all the staff, Nikki determined that the average hourly wage was $14.00. Ned was also concerned about how much it cost to keep apple pie inventory on hand at the end of the month, caramel apples should be sold within a couple days so no inventory is left at the end of the month. Since there is a limited shelf life for the apple pies, Ned and Sally try and keep the ending inventories in line with next month's expectations. They estimated that they'd have to start 7,000 apple pies in order to have 1,000 apple pies in-process at the end of the month and 500 finished pies. At the end of August there were 500 pies that were in-process and no finished pies. The variable costs associated with these inventories were as follows: Beginning WIP inventory September costs DM $1,400 $17,500 Conversion $3,350 $38,500 And the conversion cost for the in-process pies is 50% completed and 100% for direct materials. (Use the expected for September Apple Pie Sales for determining units started and units completed and transferred out) September was a success for the bakery! They were able to complete the special order and with some overtime baked a few more pies. Here were the results for the actual sales and costs at the end of the month. (The actuals as presented below are only to be use for Problem 6.) Caramel Total Apple Pies Apples Actual Sales price (per unit) $22.50 $7.00 Actual sales units 17,750 7,250 10,500 Actual variable manufacturing OH $81,625 Actual variable marketing and admin cost $15,125 Actual fixed manufacturing costs $18,000 Actual marketing and admin costs $5,000 Apple Hilly Farms Budget Analysis a. Prepare Master Budget for September Master Budget Sales volume (in units) Sales revenue Variable costs Manufacturing Marketing and admin Contribution margin Fixed costs: Manufacturing Marketing and admin Operating profit b. Calculate Variance Analysis between Actual vs. Flexible Budget vs. Master Budget Cost variances Flexible Budget Master Sales activity variance Sales price variances Actual FAV Flu FAU Budet Sales volume Sales revenue Variable costs: Manufacturing Marketing and admin Contribution margin Fixed costs: Manufacturing Marketing and admin Operating profit 4. Was manufacturing overhead under or over applied? What does over or under applied overhead mean? natual casting gives the F G 1 B C D F Apple Hilly Farms 2 3 a. Total Profit for the month of September 4 5 Apple Pies Caramel Apple Total 6 Revenue $ 132.000.00 $ 72,000.00 $ 204,000.00 7 Variable costs $ 55,500.00 $ 43.650.00 $ 99,150.00 8 Contribution margin $ 76,500.00 $ 28,350.00 $ 104,850.00 9 Fixed costs $ 25.900.00 10 Operating profit $ 78,950.00 11 12 13 14 b. Compute the weighted average contribution margin per unit 15 Percentage 16 Weights: Apple Pies Total Sales Weight 17 132.000 204,000 65% 18 Percentage 19 Caramel Apples Total Sales Weight 20 72.000 204,000 35% 21 Contribution Weighted 22 Margin per unit Weight Average CM 23 Apple Pie $ 12.75 65% S 8.25 24 Caramel Apples $ 3.15 35% $ 1.11 25 26 Weighted average contribution margin per unit $ 9.36 27 2B 29 c. Compute breakeven: 30 Fixed Costs Contrib. Margin Breakeven 32 25,900 9.36 2.767 33 Breakeven per 34 Total Breakeven Weight Unit Apple Pie 2.767 65% 1.790 36 Caramel Apples 2,767 35% 976 37 2.767 31 35 Prob 1 Prob 2 Prob 3 Prob 4 Prob 5 Prob 6 Analysis Purpose: Apply real world analysis to a problem faced by a local company using the skills learned in the class. Apple Hilly Farms Ned Hilly was an investment banker and worked in San Francisco at a large bank. As retirement got closer his wife, Sally, and him decided to spend their retirement up in the Sierra Nevada foothills by buying an apple farm in Apple Hill. All their kids were grown and their youngest daughter, Nikki, was finishing an accounting degree at Sac State, whom they were hoping would help them out with the books once she was done. A few years go by and the farm life is bustling. They had a U-Pick your own apples at the farm which cut down costs of running the farm, though they ended up with more apples than they could sell that first year. The second year, Sally came up with the idea of opening a bakery on the farm. She was an excellent baker; she makes the best apple pie west of the Mississippi, at least her family thought so. The bakery was a success that year, more so than expected. Sally made homemade apple pies and caramel apples with her special caramel sauce. In the following year, they expanded bakery operations to include more staff and an extra space for baking. Ned wasn't too sure if the expansion was going to be profitable, he had an idea of the costs involved with apple pie and caramel apple production, but he couldn't pinpoint the details. Since Apple Hill is a seasonal business he wanted to know how well his business did in the peak season to ensure that it made enough to cover the costs in the off-season. Luckily, Nikki just graduated in May and she would be able to work with Ned to work out the details and come up with some possible advice and solutions to his questions. Nikki started by talking with her parents about some of the estimated sales and costs that they thought would incur for the month of September. Here are some of those estimates: Caramel Total Apple Pies Apples Sales price (per unit) $22.00 $8.00 Expected sales units (for September) 15,000 6,000 9,000 Total $20,150.00 Expected Manufacturing costs: Fixed OH (per month) Direct labor (per unit) Direct materials (per unit) Variable OH (per unit) Apple Pies $16,500.00 $3.50 $2.50 $2.00 Caramel Apples $3,650.00 $2.10 $1.75 $0.75 Expected Marketing and admin costs: Fixed costs (per month) Variable costs (per unit) $5,750.00 $4,500.00 $1.25 $1,250.00 $0.25 Additionally, Sally informed her that the farm received a special order to sell their apple pies and caramel apples at the local county fair in September. Sally wanted to sell 3,250 pies and 4,250 caramel apples for a discounted price of $18.00 and $6.50, respectively. With the amount of staff and the size of the bakery, Nikki determined that the maximum capacity for the bakery is 3.700 labor hours a month. At the current projected sale amounts she expects that they'll need 2,850 hours to meet their regular sales volume. After review of the salaries of all the staff, Nikki determined that the average hourly wage was $14.00. Ned was also concerned about how much it cost to keep apple pie inventory on hand at the end of the month, caramel apples should be sold within a couple days so no inventory is left at the end of the month. Since there is a limited shelf life for the apple pies, Ned and Sally try and keep the ending inventories in line with next month's expectations. They estimated that they'd have to start 7,000 apple pies in order to have 1,000 apple pies in-process at the end of the month and 500 finished pies. At the end of August there were 500 pies that were in-process and no finished pies. The variable costs associated with these inventories were as follows: Beginning WIP inventory September costs DM $1,400 $17,500 Conversion $3,350 $38,500 And the conversion cost for the in-process pies is 50% completed and 100% for direct materials. (Use the expected for September Apple Pie Sales for determining units started and units completed and transferred out) September was a success for the bakery! They were able to complete the special order and with some overtime baked a few more pies. Here were the results for the actual sales and costs at the end of the month. (The actuals as presented below are only to be use for Problem 6.) Caramel Total Apple Pies Apples Actual Sales price (per unit) $22.50 $7.00 Actual sales units 17,750 7,250 10,500 Actual variable manufacturing OH $81,625 Actual variable marketing and admin cost $15,125 Actual fixed manufacturing costs $18,000 Actual marketing and admin costs $5,000 Apple Hilly Farms Budget Analysis a. Prepare Master Budget for September Master Budget Sales volume (in units) Sales revenue Variable costs Manufacturing Marketing and admin Contribution margin Fixed costs: Manufacturing Marketing and admin Operating profit b. Calculate Variance Analysis between Actual vs. Flexible Budget vs. Master Budget Cost variances Flexible Budget Master Sales activity variance Sales price variances Actual FAV Flu FAU Budet Sales volume Sales revenue Variable costs: Manufacturing Marketing and admin Contribution margin Fixed costs: Manufacturing Marketing and admin Operating profit 4. Was manufacturing overhead under or over applied? What does over or under applied overhead mean? natual casting gives the F G 1 B C D F Apple Hilly Farms 2 3 a. Total Profit for the month of September 4 5 Apple Pies Caramel Apple Total 6 Revenue $ 132.000.00 $ 72,000.00 $ 204,000.00 7 Variable costs $ 55,500.00 $ 43.650.00 $ 99,150.00 8 Contribution margin $ 76,500.00 $ 28,350.00 $ 104,850.00 9 Fixed costs $ 25.900.00 10 Operating profit $ 78,950.00 11 12 13 14 b. Compute the weighted average contribution margin per unit 15 Percentage 16 Weights: Apple Pies Total Sales Weight 17 132.000 204,000 65% 18 Percentage 19 Caramel Apples Total Sales Weight 20 72.000 204,000 35% 21 Contribution Weighted 22 Margin per unit Weight Average CM 23 Apple Pie $ 12.75 65% S 8.25 24 Caramel Apples $ 3.15 35% $ 1.11 25 26 Weighted average contribution margin per unit $ 9.36 27 2B 29 c. Compute breakeven: 30 Fixed Costs Contrib. Margin Breakeven 32 25,900 9.36 2.767 33 Breakeven per 34 Total Breakeven Weight Unit Apple Pie 2.767 65% 1.790 36 Caramel Apples 2,767 35% 976 37 2.767 31 35 Prob 1 Prob 2 Prob 3 Prob 4 Prob 5 Prob 6 Analysis