Solo Assignment #4 Instructions: The assignment should be a series of calculations addressing the requested items. This will be done in cleanly designed and clearly labeled spreadsheets that are formatted for printing. Name the tab of the sheet with your answers with your first and last name. Submit your Excel spreadsheet to me via D2L Heavenly Scents was founded by Riley Williams when she bought Bund Farm in 2015. Heavenly Scents has two departments, a harvesting department and a processing department. Currently. all of the harvesting department's output goes to the processing department for extraction of the oils, and the oils are then sold to Frutarom (a division of IFF, a major flavor and fragrance supplier). The processing division averages a yield of 500 milliliter (ml) of oils for each 1000 pounds (lb) of source materials (flowers and other plant materials). Estimated cost and market data for the two divisions are as follows: $0.10 $0.18 Harvesting (led by Jack Brown) Average variable cost per pound (lb) of source material Fixed cost per lb of source material Selling price per lb of unprocessed source material to outside market Processing (led by Jill Smith) Average variable cost per milliliter (ml) of oil Fixed cost per ml of oil Selling price per milliliter of oil to Frutarom $0.30 $0.68 $0.35 $2.45 As the new accountant, you have been tasked with determining several items and with making some suggestions: 1) What is the estimated operating income for the 2021 growing season from the estimated harvest of 480,000 pounds of source materials and processing it for final sale to Frutarom? 2) Heavenly Scents rewards its division managers with a bonus equal to 6% of their division's operating Income. Compute the bonus estimated to be earned by each division manager for the 2021 growing season for each of two transfer pricing policies, a) 225% of full cost and b) market cost. 3) Which transfer pricing method would each division manager prefer? Give some suggestions on how Heavenly Scents could resolve ar reduce transfer pricing and bonus compensation conflicts. Solo Assignment #4 instructions: The assignment should be a series of calculations addressing the requested items. This will be done in cleanly designed and dearly labeled spreadsheets that are formatted for printing. Name the tab of the sheet with your answers with your first and last name. Submit your Excel spreadsheet to me via D2L Heavenly Scents was founded by Riley Williams when she bought Bund Farm in 2015. Heavenly Scents has two departments, a harvesting department and a processing department. Currently, all of the harvesting department's output goes to the processing department for extraction of the oils, and the oils are then sold to Frutarom (a division of IFF, a major flavor and fragrance supplier). The processing division averages a yield of 500 milliliter (ml) of oils for each 1000 pounds (lb) of source materials (flowers and other plant materials). Estimated cost and market data for the two divisions are as follows: $0.10 Harvesting (led by Jack Brown) Average variable cost per pound (lb) of source material Fixed cost per lb of source material Selling price per lb of unprocessed source material to outside market $0.18 $0.30 $0.68 Processing (led by Jill Smith) Average variable cost per milliliter ml) of oil Fixed cost per ml of oil Selling price per milliliter of oil to Frutarom $0.35 $2.45 As the new accountant, you have been tasked with determining several items and with making some suggestions: 1) What is the estimated operating income for the 2021 growing season from the estimated harvest of 480,000 pounds of source materials and processing it for final sale to Frutarom? 2) Heavenly Scents rewards its division managers with a bonus equal to 6% of their division's operating income. Compute the bonus estimated to be earned by each division manager for the 2021 growing season for each of two transfer pricing policies, a) 225% of full cost and b) market cost. 3) Which transfer pricing method would each division manager prefer? Give some suggestions on how Heavenly Scents could resolve or reduce transfer pricing and bonus compensation conflicts. ACCT3321 Solo Assignment #4 Instructions: The assignment should be a series of calculations addressing the requested items. This will be done in cleanly designed and clearly labeled spreadsheets that are formatted for printing. Name the tab of the sheet with your answers with your first and last name. Submit your Excel spreadsheet to me via DL. Heavenly Scents was founded by Riley Williams when she bought Bund Farm in 2015. Heavenly Scents has two departments, a harvesting department and a processing department. Currently, all of the harvesting department's output goes to the processing department for extraction of the oils, and the oils are then sold to Frutarom (a division of IFF, a major flavor and fragrance supplier). The processing division averages a yield of 500 milliliter (ml) of oils for each 1000 pounds (lb) of source materials (flowers and other plant materials). Estimated cost and market data for the two divisions are as follows: $0.10 $0.18 Harvesting (led by Jack Brown) Average variable cost per pound (lb) of source material Fixed cost per lb of source material Selling price per lb of unprocessed source material to outside market Processing (led by Jill Smith) Average variable cost per milliliter (ml) of oil Fixed cost per ml of oil Selling price per milliliter of oil to Frutarom $0.30 $0.68 $0.35 $2.45 As the new accountant, you have been tasked with determining several items and with making some suggestions: 1) What is the estimated operating income for the 2021 growing season from the estimated harvest of 480,000 pounds of source materials and processing it for final sale to Frutarom? 2) Heavenly Scents rewards its division managers with a bonus equal to 6% of their division's operating income. Compute the bonus estimated to be earned by each division manager for the 2021 growing season for each of two transfer pricing policies, a) 225% of full cost and b) market cost. 3) Which transfer pricing method would each division manager prefer? Give some suggestions on how Heavenly Scents could resolve or reduce transfer pricing and bonus compensation conflicts