UULI WULASSE Due Sunday by 11:59pm Points 70 Submitting a text entry box or a file upload Instructions In this assignment, you will be challenged to demonstrate your ability to classify and compute different cost groups. From this understanding, you will complete a variety of standard accounting forms and statements. with a specific emphasis on manufacturing forms. Download the assignment template and complete the problems on each tab. In this assignment Problem 1 - Assigning costs Problem 2 - Calculating Cost of Goods Sold Problem 3 - Understanding the cost flow through the manufacturing process. Assignment Objectives Differentiate between the available costing methods. Deliverables When you have finished, rename the file using your first initial. last name, course number and assignment number (for example JDoe AC306 A1.xlsx"). Estimated time to complete: 4 hours Assignment File(s) AC 306 Unit 1 Assignment tomate (Excell delete Insert View Review Data Insert Formulas Page Layout Home General - Dalate B Wrap Text Sort & Filter Inherit Call Styles Format Conditional Format Formatting as Table Marge & Canter Paste 813 x f x Turbocharged airplane engine 1 Enter titles and accounts in the green cells 2 Enter Numbers in the blue cells Enter your calculations in the yellow cells Intro To Managerial Acctg Unit 1 Admin Overhead Selling Direct labor Direct materials Allocate the costs of each item to the correct category. Total Each column Amount 65,000 Salary of chief compliance officer of company 5.000 Power used by painting equipment 137,000 Instrument panel installed in the airplane cockpit 100,000 Annual bonus paid to the chief operating officer of the company 250,000 Turbo-charged airplane engine 70.000 Interior trim material used throughout the airplane cabin 15,000 Cost of normal scrap from production of airplane body 325,000 Total Hourly wages of employees that assemble the airplane 125,000 Salary of the marketing department personnel 7,000 Cost of paving the headquarters employee parking lot 80,000 Cost of electrical wiring throughout the airplane 350,000 Cost of electronic guidance system installed in the airplane cockpit 90,000 Salary of plant manager 10,000 Cost of miniature replicas of the airplane used to promote and market the airplane 135,000 Human resources department costs for the year 137.000 Metal used for producing the airplane body 50,000 Annual fee to a celebrity to promote the aircraft 95,000 Hydraulic pumps used in the airplane's flight control system 27,000 Yearly cost of the maintenance contract for robotic equipment 28,000 Prebuilt leather seats installed in the first-class cabin Depreciation on factory equipment 57.000 Problem 1 Problem 2 Problem 3 + Ready AC 306 Unit 1 Assignment template Home Data Review View General Eta Wrap Test Marge & Costa Ay - Insert Page Layout Formulas Calibri (Body) - 14 A BU A * v for Delete Paul S $ % ) Conditional Format Formatting as Table Call Styles Format Sort & Filter 857 : Depreciation on factory equipment Special advertising campaign in Aviation World magazine Oil to lubricate factory equipment Masks for use by painters in painting the airplane body Decals for cockpit door, the cost of which is immaterial to the cost of the final product Salary of chief financial officer Totals 57,000 5,000 2,500 1,000 1,000 65,000 Problem Problem 2 Problem 3 . AC306 Unit 1 Assignment template + Shar Data | Review 2.49 - B L Dalata Home Insert Page Layout Formulas * Colibri (Bodyl 14A - A PaleB TU A Di : x v fa Wrap Tout Maroe a Cast. General $ % E D Conditional Format Com Sort & E * Formatting as Table Styles C D Enter titles and accounts in the green cells 2 Enter Numbers in the blue cells Enter your calculations in the yellow cells Unit 1 Intro To Managerial Acctg > Use the folowing cost information to complete the schedules below for Jackson Company # Advertising Expense 21,275 Rent expense office 9 Depreciation office 8,575 Rent expense selling 10 Depreciation selling 10,775 Rent expense factory 11 Depreciation factory 37,350 maintenance factory 12 Factory Supervision 137,250 Sales 13 Factory supplies - used 7,050 Sales salaries 14 Factory utilities 35,700 Raw mat beginning 15 Direct labor 562,475 Raw Mat ending 16 Indirect labor 57,000 WIP Beginning 17 Misc production costs 9,660 WIP Ending 18 Office salaries 67,350 Fin Goods Beginning 19 Raw Mat purchases 837925 Fin Good Ending 24,725 27,350 94,975 27,375 5,928,721 237,950 41,375 72,430 13,550 13,350 175,250 152,750 21 Calculate the total overhead costs: Problem 1 Problem 2 Problem 3 + AC306 Unit 1 Assignment template View + Share age Layout wri (Body - 14 IUL Formulas - A A A Data = Review = = Wrap Text Merge Center. Paste $. % ) Conditional Format Formatting Table Call Styles Format Filter 057 - Totall 12 Complete the cost of Goods Manufatured Schedule Direct materials 34 1 Beginning Raw materials inv 1 2 Raw materials purchases - 3 Total raw materials available 37 4 Less: End Raw materials inv 32 5 Direct materials used 39 6 Direct labor + = 418 Total manufacturing overhead 9 Total manufacturing costs a 10 Beginning Work in process, 1/1 44 11 Total cost of work in process 4 12 Less: Work in process, 12/31 - 13 Cost of goods manufactured 4 14 Beginning Finished Goods Inventory 49 15 Cost of Goods Manufactured 50 16 Total Goods Available for Sale 51 17 Less ending Finished goods 52 18 Cost of Goods Sold 5Compete the partial income statement INCOME STATEMENT Problem Problem 2 Problem 3 + AC306 Unit 1 Assignment template Home Review View Insert Formulas Data - A. A .A. E Insert Page Layout Calibri (Bodyl - 14 B I U R x fx AY Wrap Text Marge Canter. General $ . % ) Conditional Format Cell Sort & Filter Formatting as Table Styles Format DR2 . Compete the partial Income statement INCOME STATEMENT Sales Cost Goods Sold Gross Profit Selling and Admin Expenses Operating Income (EBIT) Compete the partial balance sheet Balance Sheet CURRENT ASSETS INVENTORY RAW MATERIALS INVENTORY WORK IN PROCESS INVENTORY FINISHED GOODS INVENTORY TOTAL INVENTORY Problem Problem 2 Problem 3 + Home Data View incart- * Review - Insert Page Layout Calibri (Body) 14 U x v for Formulas A A A E wrap Text Marge & Center General S. % E 3 * Conditional Format C Formatting as Table h armat Styles Bi : Enter the es and accounts in the green cells Enter Numbers in the blue cells Enter your calculations in the yellow cells Une 1 Intro To Managerial Acctg Complete the cost of Goods Manufactured Schedule (fill in the blanks using the other numbers in the schedule) 165,000 13,500 189,500 Direct materials 1 Beginning Raw materials inv 2 Raw materials purchases 3 Total raw materials available 4 Less: End Raw materials inv 5 Direct materials used us 6 Direct labor 7 Total manufacturing overhead -> 8 Total manufacturing costs - 9 Beginning Work in process, 1/1 - 10 Total cost of work in process 20 11 Less: Work in process, 12/31 11 12 Cost of goods manufactured 137,500 211,500 81,500 509,000 Problem 1 Problem 2 Problem 3 - 11 - ) % 0 Calibri (Body) $ . % Styles Formatting as Table A- A . A. Marge & Center. 3 Paste 35 B I V xv for Enter titles and accounts in the green cells 2 Enter Numbers in the blue cells 3 Enter your calculations in the yellow cells Intro To Managerial Acctg Unit 1 Admin Selling Direct labor Direct materials Overhead Allocate the costs of each item to the correct category. Total Each column Amount 65.000 Salary of chief compliance officer of company 5,000 Power used by painting equipment 137,000 Instrument panel installed in the airplane cockpit 100,000 Annual bonus paid to the chief operating officer of the company 250.000 Turbo-charged airplane engine 70,000 Interior trim material used throughout the airplane cabin 15.000 Cost of normal scrap from production of airplane body 325,000 Total Hourly wages of employees that assemble the airplane 125,000 Salary of the marketing department personnel 7.000 Cost of paving the headquarters employee parking lot Cost of electrical wiring throughout the airplane 80.000 Cost of electronic guidance system installed in the airplane cockpit 350.000 Salary of plant manager 90.000 Cost of miniature replicas of the airplane used to promote and market the airplane 10.000 Human resources department costs for the year 135,000 Metal user producing the airplane body 137.000- Annual fee to celebrity to promote the aircraft 50.000 Hydraulic pumps used in the airplane's flight control system 95,000 Problem 1 Problem? Problem 3 + MacBook Pro Excel File Edit View 05) 66% Wed 7:20 P insert Format Tools Data Window Help AC 306 Unit 1 Assignment template View .. General Insert Page Layout Formulas Data Review .* Calibri (Body) - 14 - An A = = BIU.L. A . 1x v fx Eta Wrap Text Morge & Contor. Insert Delete Format O $ . % ) Conditional Format Formatting as Table Call Styles Hydraulic pumps used in the airplane's flight control system Yearly cost of the maintenance contract for robotic equipment Prebuilt leather seats installed in the first-class cabin Depreciation on factory equipment Special advertising campaign in Aviation World magazine Oil to lubricate factory equipment Masks for use by painters in painting the airplane body Decals for cockpit door, the cost of which is immaterial to the cost of the final product Salary of chief financial officer Totals 95,000 27,000 28,000 57,000 5,000 2,500 1,000 1,000 65,000 Problem 1 Problem 2 Problem 3