Requirement 4 Complete the cost of Goods Sold schedule. (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers.) Fremont Troll House Cookies Schedule of Cost of Goods Sold Month Ended March 31, 2018 Cost of Goods Sold HINTS values other than the value for Ending Finished Goods Inventory should be entered as positive values. Use minus sign to enter the value for ing Finished Goods Inventory. Cell | Hint: D10, D12 Use an equal sign (-), the appropriate cells and numeric values from the Instructions and ENTERANSWERS2 tabs. - Use the function =SUM( ) to calculate the cost of goods available for sale. Requirement 2 Complete the Schedule of Cost of Goods Manufactured (Always use cell references and formulas where appropriate to receive full credit. Al values should be added as positive numbers.) Fremont Troll House Cookies Schedule of Cost of Goods Manufactured Month Ended March 31, 2018 $ 2,500 $ Direct Materials Used Direct Labor Manufacturing Overhead Beginning Work-in-Process Inventory Ending Work-in-Process Inventory 3,000 11,000 1,500 (1,200) Requirement 3 Using the results from Requirement 2, calculate the cost per unit for goods manufactured assuming 16,000 units were manufactured. (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers.) Cost of Goods Manufactured Total Units Produced Unit Product Cost $ 16,800 16,000 $ 1.05 HINTS values other than the value for Ending Work-in-Process Inventory should be entered as positive values. Use minus sign to enter the value for Cell 1 Hint: inture anual sien lel when entering a single Instructions Accoun Instructions Complete the cost of Goods Sold schedule. Beginning Finished Goods had 500 units that had a cost of $0.98 each. Ending Finished Goods Inventory had 700 units left. (12 pts) a. Complete the heading. b. Using the results from Requirement 3, calculate cost of goods sold assuming FIFO inventory costing is used. c. To select the correct report caption, click in the cell. A drop down arrow will appear to the right. Click the arrow and select the appropriate caption from the alphabetical list. d. Complete the amounts to the right. Use the Excel function SUM to derive the cost of Goods Sold. e. Format the cells requiring dollar signs. f. Format underlines or double underlines as needed. g. Boldface the total. (Always use cell references and formulas where appropriate to receive full cfedit.) Once completed, save the project to the desktop. File name can be anything, but DO NOT include spaces. Return to auto-graded excel activity window, and progress to Step 3. Follow on screen instructions. Requirement 4 Complete the cost of Goods Sold schedule. (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers.) Fremont Troll House Cookies Schedule of Cost of Goods Sold Month Ended March 31, 2018 Cost of Goods Sold HINTS values other than the value for Ending Finished Goods Inventory should be entered as positive values. Use minus sign to enter the value for ing Finished Goods Inventory. Cell | Hint: D10, D12 Use an equal sign (-), the appropriate cells and numeric values from the Instructions and ENTERANSWERS2 tabs. - Use the function =SUM( ) to calculate the cost of goods available for sale. Requirement 2 Complete the Schedule of Cost of Goods Manufactured (Always use cell references and formulas where appropriate to receive full credit. Al values should be added as positive numbers.) Fremont Troll House Cookies Schedule of Cost of Goods Manufactured Month Ended March 31, 2018 $ 2,500 $ Direct Materials Used Direct Labor Manufacturing Overhead Beginning Work-in-Process Inventory Ending Work-in-Process Inventory 3,000 11,000 1,500 (1,200) Requirement 3 Using the results from Requirement 2, calculate the cost per unit for goods manufactured assuming 16,000 units were manufactured. (Always use cell references and formulas where appropriate to receive full credit. All values should be added as positive numbers.) Cost of Goods Manufactured Total Units Produced Unit Product Cost $ 16,800 16,000 $ 1.05 HINTS values other than the value for Ending Work-in-Process Inventory should be entered as positive values. Use minus sign to enter the value for Cell 1 Hint: inture anual sien lel when entering a single Instructions Accoun Instructions Complete the cost of Goods Sold schedule. Beginning Finished Goods had 500 units that had a cost of $0.98 each. Ending Finished Goods Inventory had 700 units left. (12 pts) a. Complete the heading. b. Using the results from Requirement 3, calculate cost of goods sold assuming FIFO inventory costing is used. c. To select the correct report caption, click in the cell. A drop down arrow will appear to the right. Click the arrow and select the appropriate caption from the alphabetical list. d. Complete the amounts to the right. Use the Excel function SUM to derive the cost of Goods Sold. e. Format the cells requiring dollar signs. f. Format underlines or double underlines as needed. g. Boldface the total. (Always use cell references and formulas where appropriate to receive full cfedit.) Once completed, save the project to the desktop. File name can be anything, but DO NOT include spaces. Return to auto-graded excel activity window, and progress to Step 3. Follow on screen instructions
