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Exercise A baker has contract to bake 3 dozen chocolate chip cookies for a customer's party. Create a bottom up estimate that includes both items needed for the project and the cost. According to your estimate, how much should the baker charge for cookies including a 40% profit margin per cookie? Prep time: 10 mins Cook time: 10 mins Yield: 12 cookies INGREDIENTS FOR 12 1) 8 tablespoons of salted butter 2) 1/2 cup white sugar 3) 1/4 cup packed light brown sugar 4) 1 teaspoon vanilla 5) lege 6) 11/2 cups all-purpose flour 7) 1/2 teaspoon baking soda 8) 1/4 teaspoon salt 9) 3/4 cup chocolate chips WBS: Cost Task 1) Purchase the ingredients Time 30 mins. Resource Direct Labor Indirect Labor Material 2) Prepare the ingredients 3) Bake the cookies 4) Wait 30 minutes to cool down 5) Packing 10 mins 10 minis. 30 mins. 10 mins. 30 mins 6) Deliver cookies customer the to Resources: Initials Group W S May Std Rate CitRate Cost/Use Accrue AL Units Calendar 100% $15.00/hr $0.00/hr $0.00 Prorated Standard $0.00 $2.50 Start 3 $0.00 $0.50 Start L $0.00 Resource Material Name Type Label Worker Work Salted Material Butter White Sugar Material Light Brown Material Sugar Vanilla Material EBB Material Flour Material Soda Material Salt Material Chocolate Material Chips V E F $0.00 $0.00 $0.00 $0.00 $0.00 $0.50 Start $0.20 Start $1.00 Start $0.50 Start $0.50 Start $0.50 Start S S C S0.00 $0.50 Start Assumptions: Baker is the only employee; hourly wage is $15) Total prep time is independent of the number of dozens baked Total cooking time is dependent on the number of dozens baked Total Project Duration: Total Project Cost