Wedgewood Candle Co. 2015 General Ledger Report - Quarterly Selected Accounts Account Balance Debit Credit General Ledger Number Date Reference Description Account Description 5100 Wax 1/1/2015 Beginning Balance 3/31/2015 Total Quarterly Activity 6/30/2015 Total Quarterly Activity 9/30/2015 Total Quarterly Activity 12/31/2015 Total Quarterly Activity 540,000.00 660,000.00 810,000.00 990,000.00 0.00 540000.00 1200000.00 2010000.00 3000000.00 5120 Scent 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 86,400.00 105,600.00 129,600.00 158,400.00 0.00 86400.00 192000.00 321600.00 480000.00 5130 Wicks 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 54,000.00 66,000.00 81,000.00 99,000.00 0.00 54000.00 120000.00 201000.00 300000.00 5140 Coloring 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 21,600.00 26,400.00 32,400.00 39,600.00 0.00 21600.00 48000.00 80400.00 120000.00 5150 Clips 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 2,700.00 3,300.00 4,050.00 4,950.00 0.00 2700.00 6000.00 10050.00 15000.00 5191 Cellophane 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 2,700.00 3,300.00 4,050.00 4,950.00 0.00 2700.00 6000.00 10050.00 15000.00 (continued on reverse) Page 2 Account Balance Debit Credit General Ledger Number Date Reference Description Account Description 5192 Packaging Boxes 1/1/2015 Beginning Balance 3/31/2015 Total Quarterly Activity 6/30/2015 Total Quarterly Activity 9/30/2015 Total Quarterly Activity 12/31/2015 Total Quarterly Activity 3,375.00 4,125.00 5,062.50 6,187.50 0.00 3375.00 7500.00 12562.50 18750.00 5193 Information Stickers 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 8,100.00 9,900.00 12,150.00 14,850.00 0.00 8100.00 18000.00 30150.00 45000.00 5210 Apprentice Labor 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 18,900.00 23,100.00 28,350.00 34,650.00 0.00 18900.00 42000.00 70350.00 105000.00 5220 Candlemaker Labor 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 33,075.00 40,425.00 49,612.50 60,637.50 0.00 33075.00 73500.00 123112.50 183750.00 5230 Candle Master Labor 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 20,250.00 24,750.00 30,375.00 37,125.00 0.00 20250.00 45000.00 75375.00 112500.00 5311 Cleaning Supplies 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 4,700.00 5,500.00 6,400.00 7,400.00 0.00 4700.00 10200.00 16600.00 24000.00 Account Balance Debit Credit General Ledger Number Date Reference Description Account Description 5313 Depreciation 1/1/2015 Beginning Balance 3/31/2015 Total Quarterly Activity 6/30/2015 Total Quarterly Activity 9/30/2015 Total Quarterly Activity 12/31/2015 Total Quarterly Activity 90,000.00 90,000.00 90,000.00 90,000.00 0.00 90000.00 180000.00 270000.00 360000.00 5315 Indirect Salaries 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 118,500.00 118,500.00 118,500.00 118,500.00 0.00 118500.00 237000.00 355500.00 474000.00 5317 Insurance 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 3,000.00 3,000.00 3,000.00 3,000.00 0.00 3000.00 6000.00 9000.00 12000.00 5319 Parts and Repairs 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 3,850.00 4,456.00 4,722.00 4,972.00 0.00 3850.00 8306.00 13028.00 18000.00 5321 Rent on warehouse 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 18,000.00 18,000.00 18,000.00 18,000.00 0.00 18000.00 36000.00 54000.00 72000.00 5323 Shipping Costs 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 32,400.00 39,600.00 48,600.00 59,400.00 0.00 32400.00 72000.00 120600.00 180000.00 5325 Utilities 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 11,172.00 14,997.00 12,336.00 21,495.00 0.00 11172.00 26169.00 38505.00 60000.00 Wedgewood Candle Co. 2013 Labor Report - Quarterly - By Type of Labor Wedgewood Candle Co. 2015 Quarterly Labor Report Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Total Labor Type Hours Hours Hours Hours Hours Rate Payroll Payroll Payroll Payroll Payroll Apprentice 2,700.00 3,300.00 4,050.00 4,950.00 15,000.00 $ 7.00 $ 18,900.00 $ 23,100.00 $ 28,350.00 $ 34,650.00 $ 105,000.00 Candlemaker 2,700.00 3,300.00 4,050.00 4,950.00 15,000.00 $ 12.25 $ 33,075.00 $ 40,425.00 $ 49,612.50 $ 60,637.50 $ 183,750.00 Candle Master $ 18.00 1,125.00 1,375.00 1,687.50 2,062.50 6,250.00 $ 20,250.00 $ 24,750.00 $ 30,375.00 $ 37,125.00 $ 112,500.00 Total 6,525.00 72,225.00 7,975.00 88,275.00 9,787.50 108,337.50 11,962.50 36,250.00 132,412.50 $ 401,250.00 REVISED TEMPLATE Insert Your Name Cells "greyed out are "protected and cannot be changed 1. Compute the cost per unit of cost driver for each quarter of the current year for VC and MC. If the quarterly general ledger balances for the cost reveal the cost is the same for every quarter, you deem the cost behavior to be "fixed" (FC). If the cost is a FC, you do not have to compute the cost per unit per quarter. (The cost driver is the total direct hours incurred). You can find the quarterly costs direct labor hours in the quarterly general ledger balance and the quarterly labor report in your textbook at the end of Chapter 2. 2. Classify each cost as to its cost behavior (VC, MC, FC should have been identifed in Step 1). If necessary, use the "Classification of Cost Behavior Flowchart" provided as part of your class presentationotes. 3. Indicate the cost formula for predicting changes at different levels of volume of the cost driver. If the item is deemed a mixed cost, Product Costs (Direct Materials Direct Labor & Factory Overhead Cost per Unit Based Upon Cost Driver #2 #1 TYPE OF COST (VC, MC, FC) 01 Q2 Q3 #3 COST FORMULA 04 General Ledger Number Expense Name 5100 Wax 5120 Scent 5315 Indirect Salaries 5313 Depreciation 5130 Last year's total manufacturing expenses $ 3,000,000 $ 480,000 $ 474,000 $ 360,000 $ 300,000 $ 183,750 $ 180,000 $ 120,000 Wicks 5220 5323 5140 5230 Candlemaker Labor Shipping Costs Coloring Candle Master Labor Apprentice Labor Rent on warehouse Utilities $ 112,500 5210 $ 105,000 $ 72,000 60,000 $ $ 45,000 24,000 $ 5321 5325 5193 5311 5192 5319 5150 5191 5317 18,750 Information Stickers Cleaning supplies Packaging Boxes Parts and Repairs Clips Cellophane Insurance $ $ 18,000 $ $ 15,000 15,000 12,000 $ Direct Labor Hours 4. For each item that you classified as a mixed cost (MC) in #3, perform, an Excel regression analysis and post each analysis to separate workbook pages after the template page to this workbook ("Cost Behavior Analysis Template"). Using your regression analyses, post each mixed cost formula to the "Cost Formula" column. 5. What are the total direct material costs for producing the candles for last vear? Cost Component Cost Total $ 6. What are the total direct labor costs for the candles for last vear? Cost Component Cost Tota 7. What are the total factory overhead costs for the candles for last vear? Cost Component Cost Total Wedgewood Candle Co. 2015 General Ledger Report - Quarterly Selected Accounts Account Balance Debit Credit General Ledger Number Date Reference Description Account Description 5100 Wax 1/1/2015 Beginning Balance 3/31/2015 Total Quarterly Activity 6/30/2015 Total Quarterly Activity 9/30/2015 Total Quarterly Activity 12/31/2015 Total Quarterly Activity 540,000.00 660,000.00 810,000.00 990,000.00 0.00 540000.00 1200000.00 2010000.00 3000000.00 5120 Scent 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 86,400.00 105,600.00 129,600.00 158,400.00 0.00 86400.00 192000.00 321600.00 480000.00 5130 Wicks 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 54,000.00 66,000.00 81,000.00 99,000.00 0.00 54000.00 120000.00 201000.00 300000.00 5140 Coloring 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 21,600.00 26,400.00 32,400.00 39,600.00 0.00 21600.00 48000.00 80400.00 120000.00 5150 Clips 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 2,700.00 3,300.00 4,050.00 4,950.00 0.00 2700.00 6000.00 10050.00 15000.00 5191 Cellophane 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 2,700.00 3,300.00 4,050.00 4,950.00 0.00 2700.00 6000.00 10050.00 15000.00 (continued on reverse) Page 2 Account Balance Debit Credit General Ledger Number Date Reference Description Account Description 5192 Packaging Boxes 1/1/2015 Beginning Balance 3/31/2015 Total Quarterly Activity 6/30/2015 Total Quarterly Activity 9/30/2015 Total Quarterly Activity 12/31/2015 Total Quarterly Activity 3,375.00 4,125.00 5,062.50 6,187.50 0.00 3375.00 7500.00 12562.50 18750.00 5193 Information Stickers 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 8,100.00 9,900.00 12,150.00 14,850.00 0.00 8100.00 18000.00 30150.00 45000.00 5210 Apprentice Labor 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 18,900.00 23,100.00 28,350.00 34,650.00 0.00 18900.00 42000.00 70350.00 105000.00 5220 Candlemaker Labor 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 33,075.00 40,425.00 49,612.50 60,637.50 0.00 33075.00 73500.00 123112.50 183750.00 5230 Candle Master Labor 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 20,250.00 24,750.00 30,375.00 37,125.00 0.00 20250.00 45000.00 75375.00 112500.00 5311 Cleaning Supplies 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 4,700.00 5,500.00 6,400.00 7,400.00 0.00 4700.00 10200.00 16600.00 24000.00 Account Balance Debit Credit General Ledger Number Date Reference Description Account Description 5313 Depreciation 1/1/2015 Beginning Balance 3/31/2015 Total Quarterly Activity 6/30/2015 Total Quarterly Activity 9/30/2015 Total Quarterly Activity 12/31/2015 Total Quarterly Activity 90,000.00 90,000.00 90,000.00 90,000.00 0.00 90000.00 180000.00 270000.00 360000.00 5315 Indirect Salaries 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 118,500.00 118,500.00 118,500.00 118,500.00 0.00 118500.00 237000.00 355500.00 474000.00 5317 Insurance 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 3,000.00 3,000.00 3,000.00 3,000.00 0.00 3000.00 6000.00 9000.00 12000.00 5319 Parts and Repairs 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 3,850.00 4,456.00 4,722.00 4,972.00 0.00 3850.00 8306.00 13028.00 18000.00 5321 Rent on warehouse 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 18,000.00 18,000.00 18,000.00 18,000.00 0.00 18000.00 36000.00 54000.00 72000.00 5323 Shipping Costs 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 32,400.00 39,600.00 48,600.00 59,400.00 0.00 32400.00 72000.00 120600.00 180000.00 5325 Utilities 1/1/2015 3/31/2015 6/30/2015 9/30/2015 12/31/2015 Beginning Balance Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity Total Quarterly Activity 11,172.00 14,997.00 12,336.00 21,495.00 0.00 11172.00 26169.00 38505.00 60000.00 Wedgewood Candle Co. 2013 Labor Report - Quarterly - By Type of Labor Wedgewood Candle Co. 2015 Quarterly Labor Report Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Total Labor Type Hours Hours Hours Hours Hours Rate Payroll Payroll Payroll Payroll Payroll Apprentice 2,700.00 3,300.00 4,050.00 4,950.00 15,000.00 $ 7.00 $ 18,900.00 $ 23,100.00 $ 28,350.00 $ 34,650.00 $ 105,000.00 Candlemaker 2,700.00 3,300.00 4,050.00 4,950.00 15,000.00 $ 12.25 $ 33,075.00 $ 40,425.00 $ 49,612.50 $ 60,637.50 $ 183,750.00 Candle Master $ 18.00 1,125.00 1,375.00 1,687.50 2,062.50 6,250.00 $ 20,250.00 $ 24,750.00 $ 30,375.00 $ 37,125.00 $ 112,500.00 Total 6,525.00 72,225.00 7,975.00 88,275.00 9,787.50 108,337.50 11,962.50 36,250.00 132,412.50 $ 401,250.00 REVISED TEMPLATE Insert Your Name Cells "greyed out are "protected and cannot be changed 1. Compute the cost per unit of cost driver for each quarter of the current year for VC and MC. If the quarterly general ledger balances for the cost reveal the cost is the same for every quarter, you deem the cost behavior to be "fixed" (FC). If the cost is a FC, you do not have to compute the cost per unit per quarter. (The cost driver is the total direct hours incurred). You can find the quarterly costs direct labor hours in the quarterly general ledger balance and the quarterly labor report in your textbook at the end of Chapter 2. 2. Classify each cost as to its cost behavior (VC, MC, FC should have been identifed in Step 1). If necessary, use the "Classification of Cost Behavior Flowchart" provided as part of your class presentationotes. 3. Indicate the cost formula for predicting changes at different levels of volume of the cost driver. If the item is deemed a mixed cost, Product Costs (Direct Materials Direct Labor & Factory Overhead Cost per Unit Based Upon Cost Driver #2 #1 TYPE OF COST (VC, MC, FC) 01 Q2 Q3 #3 COST FORMULA 04 General Ledger Number Expense Name 5100 Wax 5120 Scent 5315 Indirect Salaries 5313 Depreciation 5130 Last year's total manufacturing expenses $ 3,000,000 $ 480,000 $ 474,000 $ 360,000 $ 300,000 $ 183,750 $ 180,000 $ 120,000 Wicks 5220 5323 5140 5230 Candlemaker Labor Shipping Costs Coloring Candle Master Labor Apprentice Labor Rent on warehouse Utilities $ 112,500 5210 $ 105,000 $ 72,000 60,000 $ $ 45,000 24,000 $ 5321 5325 5193 5311 5192 5319 5150 5191 5317 18,750 Information Stickers Cleaning supplies Packaging Boxes Parts and Repairs Clips Cellophane Insurance $ $ 18,000 $ $ 15,000 15,000 12,000 $ Direct Labor Hours 4. For each item that you classified as a mixed cost (MC) in #3, perform, an Excel regression analysis and post each analysis to separate workbook pages after the template page to this workbook ("Cost Behavior Analysis Template"). Using your regression analyses, post each mixed cost formula to the "Cost Formula" column. 5. What are the total direct material costs for producing the candles for last vear? Cost Component Cost Total $ 6. What are the total direct labor costs for the candles for last vear? Cost Component Cost Tota 7. What are the total factory overhead costs for the candles for last vear? Cost Component Cost Total
