Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information [The following information applies to the questions displayed below] Crispin Company's sales from last year were $8 million. The company maintains no beginning
Required information [The following information applies to the questions displayed below] Crispin Company's sales from last year were $8 million. The company maintains no beginning or ending inventories. It has assembled all of its costs from last year and would like your assistance in sorting these costs into various categories, depicting them graphically, and preparing traditional and contribution format income statements. Click here to download the Excel template, which you will use to answer the questions that follow Click here for a brief tutorial on PivotTables in Excel Click here for a brief tutorial on PivotCharts in Excel. Click here for a brief tutorial on SUMIF in Excel 2. Using PivotTable and Charts a. Calculate the company's total variable costs and total fixed costs. b. Calculate the portions of the total variable costs that would be classified as product costs and period costs. c. Calculate the portions of the total fixed costs that would be classified as product costs and period costs. Complete this question by entering your answers in the tabs below. Reg 2A Req 2B Req 2C Calculate the company's total variable costs and total fixed costs. The total vanable costs are The total foced costs are Req 28> 2. Using PivotTable and Charts: a. Calculate the company's total variable costs and total fixed costs. b. Calculate the portions of the total variable costs that would be classified as product costs and peri c. Calculate the portions of the total fixed costs that would be classified as product costs and period Complete this question by entering your answers in the tabs below. Req 2A Req 28 Req 2C Calculate the portions of the total variable costs that would be classified as product costs and period c The total variable product costs are The total variable period costs are < Req 2A Req 2C > 2. Using PivotTable and Charts: a. Calculate the company's total variable costs and total fixed costs. b. Calculate the portions of the total variable costs that would be classified as product costs and period cos c. Calculate the portions of the total fixed costs that would be classified as product costs and period costs. Complete this question by entering your answers in the tabs below. Req 2A Req 28 Req 2C Calculate the portions of the total fixed costs that would be classified as product costs and period costs. The total fixed product costs are The total fixed period costs are < Req 2B Req 2C> 1 Product/ Cost Classifications: Manufacturing/ Fixed/ 2 Account Amount Period Nonmanufacturing Variable 3 Equipment depreciation: Molding $ 400,000 Product MOH Fixed 4 Equipment depreciation: Fabrication $ 300,000 Product MOH Fixed 5 Equipment depreciation: Assembly $ 50,000 Product MOH Fixed 6 Equipment depreciation: Materials Handling $ 15,000 Product MOH Fixed 7 Equipment depreciation: Other S 10,000 Product MOH Fixed 8 Production suprvision: Molding $ 60,000 Product MOH Fixed 9 Production supervision: Fabrication $ 65,000 Product MOH Fixed 10 Production supervision: Assembly $ 58,000 Product MOH Fixed 11 Indirect labor Maintenance & Repairs S 72,000 Product MOH Fixed 12 Indirect labor: Materials Handling S 68,000 Product MOH Fixed 13 Indirect labor: Engineering S 170,000 Product Fixed 14 Indirect labor: Raw Materials Purchasing S 93,000 Product MOH Fixed 15 Indirect labor: Quality Control S 38,000 Product Fixed 16 Indirect labor: Packaging & Shipping S 99,000 Product MOH Fixed 17 Indirect materials: Molding $ 18,000 Product MOH Variable 18 Indirect materials: Fabrication $ 13,000 Product MOH Variable 19 Indirect materials: Assembly $ 8,000 Product Variable 20 Utilities: Molding $ 24,000 Product MOH Variable. 21 Utilities: Fabrication $ 20,000 Product MOH Variable 22 Utilities: Assembly $ 6,000 Product MOH Variable 23 Utiltiles: Plant lighting and other equipment S 12,000 Product MOH Fixed 24 Utilities: Heating and cooling $ 24,000 Product MOH Fixed 25 Property insurance $ 26,000 Product MOH Fixed 26 Liability insurance 27 Medical insurance $ 18,000 Product MOH Fixed $ 45,000 Product MOH Fixed 28 Workers' compensation insurance S 13,000 Product MOH Fixed 29 Other salaries: Plant manager $ 165,000 Product MOH Fixed 30 Other salaries: Accounting S 89,000 Product MOH Fixed 31 Other salaries: Administrative support $ 56,000 Product MOH Fixed 32 Other salaries: Janitorial $ 48,000 Product MOH Fixed 33 Other salaries: Security and grounds maintenance S 44,000 Product MOH Fixed 34 Property taxes $ 18,000 Product MOH Fixed 35 Payroll taxes: Direct labor S 79,000 Product MOH Variable 36 Payroll taxes: Other $ 165,000 Product MOH Fixed 37 Direct materials 38 Direct labor 39 Accounting manager's salary 40 Administrative office insurance 41 Advertising 42 Depreciation on office equipment S 2,220,000 Product Direct materials Variable $ 1,365,000 Product Direct labor Variable S 88,000 Period Administrative Fixed $ 2,000 Period Administrative Fixed S 400,000 Period Selling Fixed S 15,000 Period Administrative Fixed 43 Heat & electricity for the general office $ 4,000 Period Administrative Fixed 44 Janitorial services for administrative offices S 26,000 Period Administrative Fixed 45 Salaries of accounts receivable/payable clerks $ 78,000 Period 46 Sales commissions Administrative Fixed S 480,000 Period 47 Sales manager's salary Selling Variable S 120,000 Period 48 Supplies for administrative office Selling Fixed S 1,000 Period 49 Customer billing supplies Administrative Fixed S 2,000 Period 50 Administrative Variable PinTable
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started