Requirements are to provide written accounting analysis and/or business recommendations for each scenario and question. Please demonstrate your work and calculations and if possible you can provide your work in excel. Thank you
Background . Compare current month 7/31/2022 COGS actual to budet Calla Lily Industries manufactures perfumes for the beauty industry. They have one facility located in the United States As a member of their finance team, you are a trusted business advisor. In addition to providing the account- ing for the below transactions, leadership is relying upon your analysis and business advice. I Is current month favorable or unfavorable to budget? d. Review the COGS budget vs actual for the last 7 months. Questions/Scenarios L. Write a response in paragraph form communicating your forecast to leadership. Do you think Calla Lily will end the year favorable or unfavorable to budget? You must 1. Below is a list of expenses and inventory data supporting COGS calculations for the month ending 7/31/2022. support your response Categorize the expenses into their appropriate cost categories. Determine if they are necessary to calu- late COGS. a. Scent BAI - $10,000 purchased during month of July L. Beginning Inventory - $5,000 End of document il Ending Inventory - $5,000 b. Scent #BI - $10,000 purchased during month of July L. Beginning Inventory - $2,500 IL Ending Inventory - $2,500 c. Advertising Expense - $25,000 d. Factory Labor - $30,000 e. Factory Utilities - $50,000 1. Beginning Finished Inventory - $100,000 g. Ending Finished Inventory - $50,000 b. Calculate: L Cost of Goods Sold 1. Show your work Read Mode Screens 3-4 of 4 Focus + 100 Type here to search W 71"F ~ 0 ( 40) 2:09 PMBackground e. Factory Utilities - $50,000 Calla Lily Industries manufactures perfumes for the beauty industry. They have one fa- f. Beginning Finished Inventory - $100,000 cility located in the United States. As a member of their finance team, you are a trusted g. Ending Finished Inventory - $50,000 b. Calculate: business advisor. In addition to providing the accounting for the below transactions, leadership is relying upon your analysis and business advice. i. Cost of Goods Sold 1. Show your work. Questions/Scenarios . Compare current month 7/31/2022 COGS actual to budet. 1. Below is a list of expenses and inventory data supporting COGS calculations for DOGS January February March April September October November December the month ending 7/31/2022. Categorize the expenses into their appropriate cost categories. Determine if they are necessary to calculate COGS. i. Is current month favorable or unfavorable to budget? a. Scent #A1 - $10,000 purchased during month of July d. Review the COGS budget vs actual for the last 7 months. i. Beginning Inventory - $5,000 i. Write a response in paragraph form communicating your fore- ii. Ending Inventory - $5,000 cast to leadership. Do you think Calla Lily will end the year favor- b. Scent #B1 - $10,000 purchased during month of July able or unfavorable to budget? You must support your response. i. Beginning Inventory - $2,500 li. Ending Inventory - $2,500 C. Advertising Expense - $25,000 End of document d. Factory Labor - $30,000 Teens 3-4 of 4 Focus 86 - + 100% 8:26 PM Type here to search 65.F ~ ( 4) 4/26/2022
