Requirement 1
For material glass cost suppose the average cost per pound is based on table cost per batch divided by the actual pounds of glass he uses not makes. Evaluate direct material cost per product based on table production information.
Requirement 2
Because production time is evaluated in minutes, and he wants to earn $25/hour, compute a per minute rate for his time. Using table calculate direct labor cost per product based on production time. His total labor time is about 6 hours per day 7 days a week counting making the glass. The cost needs to account for all that time at $25/hour. Allocate any extra time against products in proportion to identified time. Consider how much the production really amounts to in hours because he also spends time talking to visitors.
Requirement 3
In looking at expenses assume hand tools, insurance, repairs, taxes, rent, and Misc are manufacturing costs. Don't forget gas cost. Also note exceptions to annual expenses noted under operating costs. In evaluating manufacturing costs note that he only produces for 40 weeks in computing annual costs. The only variable costs are part time labor and advertising.
Requirement 4
Include an income statement showing profitability. Separate from above cost evaluate depreciation on assets described and interest expense based on payment assumptions per month and noting the balance due.
Requirement 5
Prepare an Excel format to show how you are evaluating things. Provide detailed information of profitability by product and for year. Then make precise recommendations with financial projections.