Help with Project needed!

Cost Classification (Assignment #1) The first item on his schedule was to list all the key products or items that he would need to start the business. His list included a conventional oven, a cash register, baking pans, butter, eggs, health inspection, business licenses, flour, sugar, baking soda, raisins, and cinnamon. His daughter Michelle and his niece Jennifer offered to help in the bakery. His friend Fern offered to supervise the girls so he could focus on business development. S & S's cost drivers are provided in Table #1. Required: Rich needs your help in classifying the various costs. He provided the information below to assist you in the identification. Use Table 2 for your answers. a) Behavior (fixed or variable) b) Traceability (direct or indirect) c) Financial reporting (product or period) d) If product cost, identify which items are direct materials, direct labor or manufacturing overhead. TABLE #1: COST INFORMATION ITEM AND INGREDIENTS Conventional Oven Refrigerator Baking pans, licenses Baking flour Eggs Sugar Baking soda Batter Raisins Others (cinnamon, yeast walnuts) Cash register Utilities (includes gas, clectric, and water) Mobile phone (business) Salary Rich Wages Michelle Jen Salary Fern Accountant Estimated MOH COST STANDARD PER CAKE $6,000 (depreciated over 5 na years on a SL basis - No salvage) SO (provided by landlord) so (paid by dad) 524 per 8 15. bag 1 pound S2 dozen 4 egg $15 per 25 lb. bag 1 lb 56 per 14 15. box 56.50 per 4 lb. S8 per 2 lbs 530 for all 3 bones per month S12 per month (rental for 2 years) S50 month SSO month S500 month Shr $100 month $100 month S4 per cake persion - 15 hours Table 2 Assignment #1 COST CLASSIFICATION CHART Description Fixed Variable Direct Indirect Product DM DL MOH Period Oven Ep Baking Pas Business License Health Inspections Rent Mobile Phone Flour Sugar Baking Soda Butter Raisins Eggs Other Materials Accountant Jennifer Michelle Rich Fern