Assignment2-4-2

Cost Accounting Problem

Down load the Excel file "Cost Acctg problem" and complete the following:

On the tab titled "Summary," complete the spreadsheet calculating the opening inventory for days 2 through 14, closing inventory for day 14, cost of food consumed for days 1 through 14 (today and month to date), sales for days 1 through 14 (today and month to date) and cost of food% for days 1 through 14 (today and month to date). Also fill in the totals for the columns "stores purchases," "food storeroom requisitions," "direct purchases," "cost of food consumed" and "sales."

On the tab titled "Cost of Sales," complete the following (1) Variance for days 1 through 14; (2) Ending Inventory reconciliation; (3) Cost of sales for income statement for days 1 through 14, and (4) Cost of sales reconciliation. The following information is provide to help in the completion of these calculations:

Additional information:
Employee meals	$ 188
Food cost at standard for days 1 through 14	$ 7,100
Ending inventory per physical count	$ 2,090

Once you have finished you should:

Send E-mail to Marja Verbeeten
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