Module 6 - Excel Lab Data Sheet Exercise 15.1 Barnaby's Hideaway uses Jim Beam Bourbon to prepare its Manhattans. A 1-litre bottle of Jim Beam costs $12.50. It also uses Martini & Rossi sweet vermouth at $6.60 per litre in the drink. Compute the cost per ounce for the liquor and the vermouth. Exercise 15.2 Complete the Standard Recipe detail and cost card for a Manhattan using the values from 15.1. The sales price of the drink is $4.50 Exercise 15.3 Barnaby's Hideaway uses Smirnoff vodka to prepare its Vodka Martinis. A 1-litre bottle of Smirnoff costs $15.00. The recipe calls for dry vermouth, which costs $8.00 per litre. Compute the cost per ounce for the liquor and the vermouth.

Module 6 - Excel Lab Data Sheet Exercise 15.1 Barnaby's Hideaway uses Jim Beam Bourbon to prepare its Manhattans. A 1-litre bottle of Jim Beam costs $12.50. It also uses Martini & Rossi sweet vermouth at $6.60 per litre in the drink. Compute the cost per ounce for the liquor and the vermouth. Exercise 15.2 Complete the Standard Recipe detail and cost card for a Manhattan using the values from 15.1. The sales price of the drink is $4.50 Exercise 15.3 Barnaby's Hideaway uses Smirnoff vodka to prepare its Vodka Martinis. A 1-litre bottle of Smirnoff costs $15.00. The recipe calls for dry vermouth, which costs $8.00 per litre. Compute the cost per ounce for the liquor and the vermouth.

Name: Module 6 - Excel Lab Data SheetExercise 15.1Barnaby's Hideaway uses J
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Module 6 - Excel Lab Data SheetExercise 15.1Barnaby's Hideaway uses Jim Beam Bourbon to prepare its Manhattans. A 1-litre bottle of Jim Beam costs $12.50. Italso uses Martini & Rossi sweet vermouth at $6.60 per litre in the drink. Compute the cost p

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 10.6C: Just-in-time principles Warm Space Inc. manufactures electric space heaters. While the CEO, Gwen...

See similar textbooks

Similar questions

Ch. 8 Homework Question 8 (a) Please solve and show the following Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $1.25 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 per hour. Additional information: Selling costs are expected to be 6 percent of sales.Fixed administrative expenses per month total $1,200.Required: Complete Shadee's budgeted income statement for the months of May and June
Ch. 8 Homework Question 8 (a)Please solve and show the following Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units.Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $1.25 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 per hour.Additional information: Selling costs are expected to be 6 percent of sales.Fixed administrative expenses per month total $1,200.Required: Complete Shadee's budgeted income statement for the months of May and JuneStep 1Given information is:Shadee Corp.…
Ch. 8 Homework 4(a) Please solve and provide method to solve the following problem: Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30. Additionally, Shadee’s fixed manufacturing overhead is $1,000 per month, and variable manufacturing overhead is $1.25 per unit produced. Required:1. Determine Shadee's budgeted cost of closures purchased for May and June. (Round your answers to 2 decimal places.) 2. Determine Shadee's budget manufacturing overhead for May and June. (Do not round your intermediate calculations. Round your answers…
Comprehensive Problem 5 Part B: Note: This section is a continuation from Part A of the comprehensive problem. Be sure you have completed Part A before attempting Part B. You may have to refer back to data presented in Part A and use answers from Part A when completing this section. Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight- ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS Cost Behavior Units per Case Cost per Unit Direct Materials Cost per Case Cream base Variable 100 ozs. $0.02 $2.00 Natural oils Variable 30 ozs. 0.30 9.00 Bottle (8-oz.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Department Cost Behavior Time per Case Labor Rate per Hour Direct…
Chapter 1: Applying Excel: Excel Worksheet (Part 1 of 2) Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell C18 enter the formula "= B6". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts in both the traditional and contribution format income statements match the numbers in Exhibit 1-7. Check your worksheet by changing the variable selling cost in the Data area to $900, keeping all of the other data the same as in Exhibit 1-7. If your worksheet is operating properly, the net operating income under the traditional format income statement and under the contribution format income statement should now be $700 and the contribution margin should now be $4,700. If you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking “Browse.” Next, click…
Problem 2. A small woodworking shop makes hand carved tables and chairs. Each product goes through two stages of production. Stage 1, the assembly stage, has 60 minutes available per shift. The second stage, finishing and painting, has 40 minutes available per shift. Each table requires 12 minutes of assembly time and 4 minutes of painting and finishing time. Each chair requires 4 minutes of assembly time and 8 minutes of finishing and painting time. Profit per table is $100, while profit per chair is $60. Write the complete mathematical model for this problem.
Problem 4-15 (Algo) Comprehensive Problem-Weighted-Average Method [LO4-2, LO4-3, LO4-4, LO4-5] Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Units Materials Conversion Work in process, beginning 72,000 70% 40% Started into production 358,500 Completed and transferred out 348,500 Work in process, ending 82,000 75% 25% Materials Conversion Work in process, beginning $ 26,900 $ 9,400 Cost added during June $ 288,800 $ 200,930 Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2.…
Ch. 8 Homework Question 7 (a) Please solve and explain the following problem. Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30. Additionally, Shadee’s fixed manufacturing overhead is $1,000 per month, and variable manufacturing overhead is $1.25 per unit produced. Each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 per hour. Additional information: Selling costs are expected to be 6 percent of sales.Fixed administrative expenses per month total $1,200. Determine Shadee's budgeted selling and…
Comprehensive Problem 5Part C: Note: This section is a continuation from Parts A and B of the comprehensive problem. Be sure you have completed Parts A and B before attempting Part C. You may have to refer back to data presented in Parts A and B as well as use answers from those parts when completing this section. Genuine Spice Inc. began operations on January 1 of the current year. The company produces 8-ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS Cost Behavior Units per Case Cost per Unit Direct Materials Cost per Case Cream base Variable 100 ozs. $0.02 $2.00 Natural oils Variable 30 ozs. 0.30 9.00 Bottle (8-oz.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Department Cost Behavior Time per Case…
Question 5Study the scenario and complete the question that follows:Chopper LtdChopper Ltd manufactures confectionery food in the North West province and it has been supplying thewhole province for the past ten years. They manufacture a popular sweet for kids called ‘Dama’, whichrequires three ingredients: Hola, Suca, and Sira. Since the appointment of Ms Stellah as the productionmanager three years ago, after she completed her Master’s degree in Management and CostingAccounting from Pearson Institute of Higher Education, she had adopted the use of standard costingsystem to monitor its costs. The standard materials usage and cost for one unit of ‘Dama’ is as follows:Hola: 25 grams at 3 cents per gramSuca: 20 grams at 4 cents per gramSira: 15 grams at 3½ cents per gramAt the end of 31 August 2020, Chopper Ltd produced 120 000 units of ‘Dama’ using 4 000 kilograms ofHola, 1 680 kilograms of Suca, and 2 000 kilograms of Sira.Required:Calculate the material variances (usage, mix, and yield…
Question 1: Problem 1. Geppetto’s Workshop is a toy manufacturing firm. It makes all different kinds of wooden toys, which are sold to retailers all over Canada. One of the most popular toys is a wooden puzzle with all the letters of the alphabet. The puzzle generally sells for $300. The standard cost card for the puzzle follows: DM (2.1 board feet of wood @ $25 per linear foot) $52.50 DL (.25 hour @ $25/hour) 6.25 VOH (3 MH @ 1.5/hour) 4.50 FOH (3 MH @ 25.50/hour) 76.50 TOTAL COST $139.75 Due to the world-wide economic slowdown, Geppetto’s has not been producing at its normal full capacity, which is 450,000 MH. For the upcoming month, the budget will be based on an expected…
Part 1: Based on the data presented in the Unit VIII Spreadsheet Template in Excel (CM Breakeven tab):• Calculate the contribution margin (CM) for each of the three products sold at the cookie business.• Calculate the weighted average CM.• Calculate the breakeven point.Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results based on your calculations as far as which type of cookie you think is the most profitable, which has the highest CM, etc.