Question: answer these based off the pdf document for refreshing iced tea: 1 . A Production Cost Report using both the weighted average and FIFO methods

answer these based off the pdf document for refreshing iced tea:
1. A Production Cost Report using both the weighted average and FIFO methods of assigning costs
to goods transferred out and ending inventory. (25 points)
2. Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold using both the
Weighted Average and FIFO methods of assigning costs to goods transferred out and ending
inventory. (25 points)
3. Gross Margin and Contribution Margin Income Statements (HINT: For the Gross Margin Income
Statement, Total Cost of Goods Sold should be equal to the Cost of Goods Sold calculated based
on the FIFO method of assigning costs to goods transferred out and ending inventory).(25
points)
4. A Break-Even Analysis that includes all of the following components (HINT: Use the information
from parts a, b, and c above for your calculations)(25 points)
4a. Break-Even in gallons and dollars
4b. Target Profit in gallons and dollars if the company wants a net operating income of
$200,000 after taxes. The tax rate is 25%.
4c. Margin of Safety expressed in dollars, units, and as a percentage of sales.

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