AutoSave . Off ACC 202 Project Workbook (3) - Search (Alt+Q) Jones, Ashley JA X File Home Insert Page Layout Formulas Data Review View Help Comments 15 Share Neutral AutoSum & Cut Calibri 10 ~ A" A" age Wrap Text General Normal Bad Good AY O 1 Fill [B Copy Insert Delete Format Sort & Find & Analyze Paste BIU~ ~ MA~ = CE E Merge & Center ~ Conditional Format as Calculation Check Cell Explanatory ... Input Formatting ~ Table Clear Data Format Painter Filter ~ Select v Clipboard Font Alignment Number Styles Cells Editing Analysis D14 X V Loan payment B D G H K L M N P Q R S T U v w 7 Item Variable Cost/Item Item Fixed Costs 9 High-tensile strength nylon webbing 4.00 Collar maker's salary (monthly) 2,773.33 10 Polyesterylon ribbons 3.00 Depreciation on sewing machines 55.00 11 Buckles made of cast hardware 2.00 Ren 250.00 12//3 12 Price tags 0.10 Utilities and insurance 200.00 50x4 13 Scissors, thread, and cording 400.00 9//3 Loan payment 183.33 15 Salary to self 166.67 16 17 19 Total Variable Costs per Collar 9.10 Total Fixed Costs 4,028.33 20 22 23 Leashes 25 Item Variable Cost/Item Item Fixed Costs 27 High-tensile strength nylon webbing 6.00 Leash maker's salary (monthly) 2,773.00 28 Polyesterylon ribbons 4.50 Depreciation on sewing machines 55.00 29 Buckles made of cast hardware 1.50 Rent 250.00 12//2 30 Price tags 0.10 Utilities and insurance 200.00 .50x3 31 Scissors, thread, and cording 400.00 9//2 32 Loan payment 183.33 33 Salary to self 167.67 34 35 36 38 Total Variable Costs per Leash 12.10 Total Fixed Costs 4,029.00 $ 4,029.00 39 41 42 Harnesses 44 Item Variable Cost/Item Item Fixed Costs 46 High-tensile strength nylon webbing 5.00 Harness maker's salary 2,946.00 12//2 47 Polyesterylon ribbons 4.50 Depreciation on sewing machines 55.00 9//2 48 Buckles made of cast hardware 4.00 Rent 250.00 50x8 49 Price tags 0.10 Utilities and insurance 200.00 50 Scissors, thread, and cording 400.00 51 Loan 183.33 52 Salary to self 167.67 Total Variable Costs per Harness 14.60 Total Fixed Costs S 4,201.00 Cost Classification Variable and Fixed Costs Contribution Margin Analysis Break-Even Analysis COGS Income Statement Variances + D - + 100% Ready Accessibility: Good to goAutoSave . Off ACC 202 Project Workbook (3) - Search (Alt+Q) Jones, Ashley JA X File Home Insert Page Layout Formulas Data Review View Help Comments 15 Share & Cut Arial Black 12 ~ A" A " ae Wrap Text General Normal Bad Good Neutral AutoSum AY O [ Copy 1 Fill Paste CE E Merge & Center Conditional Format as Calculation Check Cell Explanatory ... Input Insert Delete Format Sort & Find & Analyze Format Painter IUV - DAY Formatting ~ Table Clear Filter ~ Select v Data Clipboard Font Alignment Number Styles Cells Editing Analysis E15 X v fx X B C D G L M N 0 P Q R S T U V W X Y Z Milestone One - Cost Classification UT D WN INSTRUCTIONS: Putting an X in the appropriate spot, classify the costs as: Direct Material, Direct Labor, Overhead, or Period Costs. 7 The Fixed and Variable cost classifications have been provided for you. Direct Direct Item/Cost Material Labor Overhead Period Costs Fixed Variable 4 Salary - Collar maker X 13 Salary - Leash maker -. . ..... 14 Salary - Harness maker 15 Salary - Receptionist 16 High-tensile strength nylon webbing -....... 17 Polyesterylon ribbons X 18 Buckles made of cast hardware . . .... 19 Depreciation on sewing machines X X 20 Rent X X 21 Utilities and insurance X 22 Scissors, thread, and cording 23 Price tags 24 Office supplies -........ 25 Other business equipment -......" --...... 26 Loan payment 27 Salary to self Cost Classification Variable and Fixed Costs Contribution Margin Analysis Break-Even Analysis COGS Income Statement Variances + Ready 4 Accessibility: Good to go + 90%AutoSave . off) H . ( ACC 202 Milestone One Operational Costs Data Appendix (2) - Protected View . Saved to this PC . Search (Alt+Q) Jones, Ashley JA X File Home Insert Draw Design Layout References Mailings Review View Help PERRLA RCM Comments Share PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X snhu ACC 202 Milestone One: Operational Costs Data Appendix You plan to open a small business for manufacturing pet collars, leashes, and harnesses. You have found a workshop space you can use for sewing your products. After some research and planning, you have estimates for the various operating costs for your business. The total square footage for the sewing rooms is 1,500 square feet broken into three areas (500 square feet each). You have taken out a loan for start-up costs, and the monthly payment is $550; it goes into effect immediately and should be accounted for in your costs. You will also collect a modest salary for the first year of $500 per month; remember to divide evenly among the services. Salary and Hiring Data . One collar maker, who will be paid $16.00 per hour and work 40 hours per week One leash maker, who will be paid $16.00 per hour and work 40 hours per week One harness maker, who will be paid $17.00 per hour and work 40 hours per week One receptionist, who will be paid $15.00 per hour and work 30 hours per week Other Costs Rent: $750 per month; allocate based on square footage High-tensile strength nylon webbing-$12 per yard of webbing 3 collars per yard of webbing 2 leashes per yard of webbing o 2 harnesses per yard of webbing Polyesterylon ribbons-$9 per yard of ribbon 3 collars per yard of ribbon 2 leashes per yard of ribbon 2 harnesses per yard of ribbon Buckles made of cast hardware-$0.50 per buckle 4 buckles used per collar 3 buckles used per leash o 8 buckles used per harness 3 industrial sewing machines at $3,300 each for a total of $9,900; depreciation is $165 per month (5- year life, zero salvage value) Utilities and insurance: $600 per month; allocate based on square footage Scissors, thread, cording: $1,200 . Price tags: $250 for 2,500 ($0.10 each) Office supplies: $2,400 or $200 per month . Other business equipment: $2,000 Loan payment of $550 per month Salary drawn of $500 per month Page 1 of 1 350 words Text Predictions: On Focus - - + 100%D2L Module Two - ACC-202-R6914 M X DEL Milestone One Guidelines and Ru * ACC 202 Project Workbook Miles C learn.snhu.edu/d21/le/content/1108691/viewContent/18966730/View Listen Overview Successful entrepreneurs understand all aspects of business, especially costs and costing systems. In the course project, you will assume the role of the owner of a small business and apply managerial accounting principles to evaluate and manage costs related to your services within a costing system. In the first milestone of the project, you will determine and classify the costs necessary for opening your business. Scenario You plan to open a business manufacturing collars, leashes, and harnesses for pets. To begin, you will manufacture these in a standard style and size with plans to expand your range over the year. In a few weeks, you will present your company's financial strategy to some key investors. To begin creating your strategy, you need to consider and record all the costs associated with operating your business. You have decided to use the job order costing system. Prompt Use the given operational costs in the Milestone One Operational Costs Data Appendix Word Document to complete the first two tabs, "Cost Classification" and "Variable and Fixed Costs," in the Project Workbook Spreadsheet. Specifically, you must address the following rubric criteria: . Cost Classification. Accurately classify all your costs in the "Cost Classification" tab of your workbook. . Identify direct material, direct labor, overhead, and period costs. (Note: Fixed and variable costs have been classified for you.) . Variable and Fixed Costs. Complete the "Variable and Fixed Costs" tab of your workbook. (Note: Some costs are provided for you. Fill in only the missing costs.) . Determine your total variable cost per unit and the total fixed costs for each product. Show your work using calculations to the side of the table or using appropriate formulas in the table. Guidelines for Submission Submit the Project Workbook with the "Cost Classification" and "Fixed and Variable Costs" tabs completed. This file should be completed and submitted using Microsoft Excel. Milestone One Rubric Exemplary (100%) Needs Improvement Criteria Proficient (85%) Not Evident (0%) Value (55%)