The Fashionable Leather Company manufactures two product lines $($shoes and jackets$)$ and operates in four regions $($North$,$ South, East, and West$).$ The company buys direct materials and supplies only after receiving orders from customers, and therefore does not hold a material amount of inventory. The CFO asked you to analyze the company's performance for the year across a number of dimensions including by region, by product line, and by manufacturing cost. The raw job costing data was exported into Excel from the company's accounting system $($the data is saved in the Data worksheet$).$ itructions: This workbook contains $3$ worksheets: Cover Sheet, Additional Instructions, and Data. It is recommended that you add additional worksheets to perform your calculations, as necessary. However, only answers entered in the Cover Sheet will be graded. The Cover Sheet worksheet contains all of the questions as well as spaces for your answers. The cells on this worksheet are locked. You can only edit the gold colored cells. Column B lists the chapter that each question is most related to$.$ However, there is overlap in many of the chapters. Column C lists the point value for each question. Many questions include either a hint or a check number. Make sure that your calculations match the check numbers. The gold colored answer cells are restricted to accept only certain number formats. For example, the answer for question $4$ will only accept a whole number. If you try to enter $54\mathrm{.}5$ you will receive an error message. The Additional Instructions worksheet contains $1)$ a description of the dataset, $2)$ links to basic Excel video tutorials, and $3)$ additional instructions and hints on how to calculate and answer each of the questions. The majority of this project relies on using formulas to calculate new columns in a table of data and then using Pivot Tables to analyze the data. The Data worksheet contains the raw job costing data from the company's accounting system. Each row of the data table corresponds to one job. Each job can include orders for multiple quantities of a given product. A more detailed description of the data is included in the Additional Instructions tab. It is recommended that you calculate additional columns in the Data worksheet, as needed, before creating your pivot tables. Question $8$: Assume the actual indirect manufactuing OH rate for the year was $25\mathrm{.}66\%.$ Manufacturing overhead is allocated using direct material dollars. $8$a$.$ What was the actual total overhead incurred during the year? Answer: $8$b$.$ What is the difference between actual total manufacturing overhead and the applied manufacturing overhead? $($Hint: Actual total manufacturing overhead $-$ total applied manufacturing overhead.$)$ Answer: $8$c$.$ Was the manufacturing overhead over or underapplied? Answer: Question $9$: The budgeted period fixed costs for the year are $$458,717,$ and the fixed portion of the budgeted total manufacturing overhead is $$495,966.$ What are the total variable costs for the year? $($Hint: The total variable costs is the total direct material costs $+$ total direct labor costs $+$ total manufacturing overhead applied $-$ fixed portion of the budgeted manufacturing overhead.$)$ Answer: Question $10$: What is the average contribution margin per unit for shoes? Assume the fixed overhead costs are $60\mathrm{.}00\%$ of the applied overhead and there are no period variable costs. $($Hint: Divide the total contribution margin for shoes by the total number of shoes sold.$)$ Answer: Check: The average contribution margin per jacket is $$76\mathrm{.}28.$ Question $11$: Assume the contribution margin per unit for shoes is $$8\mathrm{.}25$ and the contribution margin per unit for jackets is $$79\mathrm{.}50.$ What is the break$-$even point in units? Assume a $3$ shoes to $1$ jacket sales mix. $($Hint: Be sure to round your break$-$even number of bundles up to the nearest whole number.$)$ An Question $12$: The company has separate material and quantity standards for the shoes and jackets product lines. Assume the following standard price and quantities: For shoes, assume the budgeted cost per foot of leather $($standard price$)$ is $$14\mathrm{.}74$ and the budgeted feet of leather per pair of shoes produced is $2\mathrm{.}11.$ For jackets, assume the budgeted cost per foot of leather $($standard price$)$ is $$16\mathrm{.}56$ and the budgeted feet of leather per jacket produced is $12\mathrm{.}23.$ That is$,$ the budgeted cost of direct materials to produce $1$ jacket is $$202\mathrm{.}53(\backslash$$$16\mathrm{.}56$ per ft$12\mathrm{.}23$ft per jacket$).($Hint: Calculate the direct material price and efficiency variances for each job and sum all of the variances together.$)12$a: What is the direct material price variance? Make sure you enter the number with the correct sign. Answer: DM Price Variance $(\backslash$$$)$ Favorable$/$Unfavorable $12$b: What is the direct material efficiency variance? Make sure you enter the number with the correct sign. Answer: DM Efficiencv Variance $(\backslash$$$)$ Favorable$/$Unfavorable