In: Accounting
It's always fun to get together with family, friends and other acquaintances to share some great fun, food and fellowship. So, lets have ourselves a virtual potluck and you are all invited.
We have all agreed to have a virtual Thanksgiving dinner and split the cost. Everyone has to select and bring their favorite recipe to the potluck. We all agreed to split the cost equally and we'll say that there are 20 of us going to attend. That means that we may need to made several batches of certain recipes to serve 20.
Here's what you need to do:
1.) Provide the detailed recipe that you are going to make.
2.) Price out and show the calculations for the cost of the ingredients required to make the recipe.
3.) Provide the calculations you used to determine the direct labor cost required to make it (this includes the time it tale to go to the store to buy the ingredients, the time it takes to prep and prepare it, and any time required for it to bake or set up in the refrigerator) and the time it takes to clean up. Assume labor costs are $15 per hour.
4.) Don't forget the overhead costs which include gasoline in the car, electric used to bake or cool your dish, detergent to wash the dishes, and others. Assume that the pre-determined overhead rate is $2.50 per direct labor hour. Show how you calculated this as well.
5.) Compute and show your calculations for the total cost of to make the dish and then also the per person cost.
help with my discusiion board! i do not know where to begin !
1) We will be making "Chimichangas".
For making the same, following ingredients are required. (since there are 20 people, average 2 chimichangas per person, so will make 40)
Prep time: 25 min. Cook: 15 min.
2) Cost of the ingredients:-
Total cost of ingredients - $57.50
3) Direct Labour cost:-
Time taken to visit store and purchase the things - $30 (15 * 2 hours)
Time taken for preparation - $22.5 (15 * 1.5hours)
Time taken for baking - $15 (15 * 1 hour)
Time for clean up - $15 (15 * 1 hour)
Total cost of labour - $82.5
4) Gasoline Cost - $5
Electricity used - $3
Detergent to wash dishes - $1
Misc cost - $3
Total overhead cost - $12
5) Total cost to make the dish:-
Ingredients cost = 57.50
Labour cost = 82.50
Overhead cost = 12
Total cost to make 40 chimichangas = $152
Cost per head = $152/20 persons
= $7.6 per person.