Problem #1
Horton Foods bakes and sells bagels each week to food service operations. Among the costs are bakers' salaries, $40,000; production management salaries, $25,000, equipment operating costs, $50,000; and flour and ingredient costs, $75,000.
Required:
1. Calculate prime costs
2. Calculate conversion costs.
Problem #2
Information for Mandolin Manufacturing for the year follows:
Required: Prepare the following schedules and statements. Use proper formatting and us formulas for adding and subtracting. You learned the basic formulas in the first excel exercise. Make these statements look like something you would give your employer and your job depends on how they look.
Please properly format your numbers -- with $ signs, commas, underlining, and double rulings. You will be graded on your use of excel tasks (formulas and proper formatting). If you are not sure where to put a dollar sign or where to put an underline or a double rule, go look at examples in the book. (Page 754 demonstration problem answer gives great illustrations for you to use as a guide for preparing and formatting the statements.)
1. Prepare, in proper form, a manufacturing statement for the year ended December 31
2. Prepare, in proper form, an income statement including the required earnings per share disclosure for the year ended December 31. Make sure you also compute the basic earnings per share amount and place that amount directly below the net income.