Question
The goal of this assignment is to design a spreadsheet to compute product costs for Healthy Harvest Bakery. The bakery uses a FIFO process costing
The goal of this assignment is to design a spreadsheet to compute product costs for Healthy Harvest Bakery. The bakery uses a FIFO process costing system. Healthy Harvest Bakery makes breads using only natural ingredients and no added fats. The bakery makes four varieties of breads: white, wheat, sourdough and raisin. Your task is to determine the cost of raisin bread made during January. The raisin bread is made in two departments: baking and packaging. In baking, the ingredients are mixed and the bread is baked. Baked loaves are then moved to packaging, where they are allowed to cool before placing them in a plastic wrapper. The basic ingredients (flour, yeast, etc.) are added to the bread at the start of production in the baking department. Raisins are added to the bread in the baking department after the basic ingredients have been mixed; this occurs when the baking department is one-fourth complete with their work. The plastic wrapper is added at the end of the production process in the packaging department, after the bread has cooled. Conversion costs are incurred evenly throughout the production process in both departments. Your workbook should consist of sheets: 1. Input Sheet 2. Baking Department Cost of Production 3. Packaging Department Cost of Production The spreadsheet should be designed so that information is added into the Input Sheet only. All information in Baking and Packaging should be either references or formulas. The input section of your spreadsheet should contain the following data:
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