See these instructional videos below – however – videos do not replace reading the textbook, taking notes, and defining terms. Your submission should mirror the textbook examples.
Problems
PA 1 – 7 points
PA 4 - 3 points
PA 5. - 7 points
Show your work for calculated problems
Type answers, for example, #PA4 directly into a worksheet within a workbook in Excel – label the worksheet the same as the problem
Students must create an excel file to answer these problems – use the textbook as a guide. Use the correct heading and format for the problem assigned. Create one workbook with a worksheet for each problem. SAVE as a XLS entitled the File using your name and the Assignment Title.
1. Using Excel to create Financial Statements
https://youtu.be/SNn7HhHtHE0?si=vMBN0MFR_Q2moA2XLinks to an external site.
2. How to make an Income Statement
https://youtu.be/OKsgQSTZKIE?si=RonMQLIzYNWg8w3kLinks to an external site.
or
https://youtu.be/_O9AcV7xbdM?si=HaWudCPAr_zTZuM4Links to an external site.
PA 1.
LO 2.1 Ballentine Manufacturing produces and sells lawnmowers through a national dealership network. They purchase raw materials from a variety of suppliers, and all manufacturing and assembly work is performed at their plant outside of Kansas City, Missouri. They recorded these costs for the year ending December 31, 2017. Construct an income statement for Ballentine Manufacturing to reflect their net income for 2017.
PA 4.
LO 2.2 Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost.
A. Wages of administrative staff
B. Shipping costs on merchandise sold
C. Wages of workers assembling computers
D. Cost of lease on factory equipment
E. Insurance on factory
F. Direct materials used in production of lamps
G. Supervisor salary, factory
H. Advertising costs
I. Property taxes, factory
J. Health insurance cost for company executives
K. Rent on factory
PA 5.
LO 2.2 Wachowski Company reported these cost data for the year 2017.
Use the data to complete the following table.
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Total prime costs |
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Total manufacturing overhead costs |
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Total conversion costs |
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Total product costs |
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Total period costs |
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