Background: The Fashionable Leather Company manufactures two product lines (shoes and jackets) and operates in four regions (North, South, East, and West). The company buys direct materials and supplies only after receiving orders from customers, and therefore does not hold a material amount of inventory. The CFO asked you to analyze the company's performance for the year across a number of dimensions including by region, by product line, and by manufacturing cost. The raw job costing data was exported into Excel from the company's accounting system (the data is saved in the Data worksheet). Instructions: This workbook contains 3 worksheets: Cover Sheet, Additional Instructions, and Data. It is recommended that you add additional worksheets to perform your calculations, as necessary. However, only answers entered in the Cover Sheet will be graded. The Cover Sheet worksheet contains all of the questions as well as spaces for your answers. The cells on this worksheet are locked. You can only edit the gold colored cells. Column B lists the chapter that each question is most related to. However, there is overlap in many of the chapters. Column C lists the point value for each question. Many questions include either a hint or a check number. Make sure that your calculations match the check numbers. The gold colored answer cells are restricted to accept only certain number formats. For example, the answer for question 4 will only accept a whole number. If you try to enter 54.5 you will receive an error message. The Additional Instructions worksheet contains 1) a description of the dataset, 2) links to basic Excel video tutorials, and 3) additional instructions and hints on how to calculate and answer each of the questions. The majority of this project relies on using formulas to calculate new columns in a table of data and then using PivotTables to analyze the data. The Data worksheet contains the raw job costing data from the company's accounting system. Each row of the data table corresponds to one job. Each job can include orders for multiple quantities of a given product. A more detailed description of the data is included in the Additional Instructions tab. It is recommended that you calculate additional columns in the Data worksheet, as needed, before creating your pivot tables. Question 4: How many jackets were sold in the East region? Answer: From Additional Information Worksheet: Column Name Description Job ID Customer ID Region Product Units Produced and Sold Cost per Foot of Leather Feet of Leather per Unit Produced Direct Labor Cost per Hour Direct Labor Hours Per Unit Produced Sales Price per Unit A unique identification number for each job. This ID number cannot be repeated. A unique identification number for each customer. A customer can be associated with multiple jobs. Identifies the region of the corresponding job. Possible values are North, South, East, and West. The product produced and sold for the job. Possible values are shoes or jackets. The number of shoes or jackets produced and sold for the job. Note: An order for 2 shoes is for 2 pairs of shoes. The direct material cost per foot of leather. (e.g., the price of 1 foot of leather.) The number of feet of leather used per unit of output. (e.g. 12 feet of leather to produce 1 jacket). The hourly wage rate for manufacturing employees. (e.g., Employee is paid $31/hour). The number of direct labor hours used to produce 1 unit of output. (e.g., The employee uses 1.05 hours to produce 1 jacket.) The sales price per unit. (e.g., Each jacket is sold for $383.) Additional Instructions General General Question # Additional Information Remember that expenses are subtracted from revenue when calculating gross margin, contribution margin, etc. Therefore, it may be easier to represent the columns which contain expenses as negative numbers. The majority of this project relies on using basic Excel formulas and PivotTables. The links included above will be helpful if you are unfamiliar with Excel.

Background: The Fashionable Leather Company manufactures two product lines (shoes and jackets) and operates in four regions (North, South, East, and West). The company buys direct materials and supplies only after receiving orders from customers, and therefore does not hold a material amount of inventory. The CFO asked you to analyze the company's performance for the year across a number of dimensions including by region, by product line, and by manufacturing cost. The raw job costing data was exported into Excel from the company's accounting system (the data is saved in the Data worksheet). Instructions: This workbook contains 3 worksheets: Cover Sheet, Additional Instructions, and Data. It is recommended that you add additional worksheets to perform your calculations, as necessary. However, only answers entered in the Cover Sheet will be graded. The Cover Sheet worksheet contains all of the questions as well as spaces for your answers. The cells on this worksheet are locked. You can only edit the gold colored cells. Column B lists the chapter that each question is most related to. However, there is overlap in many of the chapters. Column C lists the point value for each question. Many questions include either a hint or a check number. Make sure that your calculations match the check numbers. The gold colored answer cells are restricted to accept only certain number formats. For example, the answer for question 4 will only accept a whole number. If you try to enter 54.5 you will receive an error message. The Additional Instructions worksheet contains 1) a description of the dataset, 2) links to basic Excel video tutorials, and 3) additional instructions and hints on how to calculate and answer each of the questions. The majority of this project relies on using formulas to calculate new columns in a table of data and then using PivotTables to analyze the data. The Data worksheet contains the raw job costing data from the company's accounting system. Each row of the data table corresponds to one job. Each job can include orders for multiple quantities of a given product. A more detailed description of the data is included in the Additional Instructions tab. It is recommended that you calculate additional columns in the Data worksheet, as needed, before creating your pivot tables. Question 4: How many jackets were sold in the East region? Answer: From Additional Information Worksheet: Column Name Description Job ID Customer ID Region Product Units Produced and Sold Cost per Foot of Leather Feet of Leather per Unit Produced Direct Labor Cost per Hour Direct Labor Hours Per Unit Produced Sales Price per Unit A unique identification number for each job. This ID number cannot be repeated. A unique identification number for each customer. A customer can be associated with multiple jobs. Identifies the region of the corresponding job. Possible values are North, South, East, and West. The product produced and sold for the job. Possible values are shoes or jackets. The number of shoes or jackets produced and sold for the job. Note: An order for 2 shoes is for 2 pairs of shoes. The direct material cost per foot of leather. (e.g., the price of 1 foot of leather.) The number of feet of leather used per unit of output. (e.g. 12 feet of leather to produce 1 jacket). The hourly wage rate for manufacturing employees. (e.g., Employee is paid $31/hour). The number of direct labor hours used to produce 1 unit of output. (e.g., The employee uses 1.05 hours to produce 1 jacket.) The sales price per unit. (e.g., Each jacket is sold for $383.) Additional Instructions General General Question # Additional Information Remember that expenses are subtracted from revenue when calculating gross margin, contribution margin, etc. Therefore, it may be easier to represent the columns which contain expenses as negative numbers. The majority of this project relies on using basic Excel formulas and PivotTables. The links included above will be helpful if you are unfamiliar with Excel.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...

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