In: Accounting
Risk Assessment: Question 1 | |||||||||||||||
Analyze the risk associated with the cost of ingredients | |||||||||||||||
Using the data provided, determine the cost of each type of cupcake | |||||||||||||||
Presentation matters when showing the results of data analytics, because you are trying to take many numbers and present them in a way that someone unfamiliar with your computations can quickly understand your results. An example of one type of presentation for the cost of cupcakes is shown below. You can use this example as a template, or come up with a better way to present your work. If you click on the yellow cells below, you can see the formulas used in this particular visualization. It can also serve as a check to ensure that you are arriving at the correct cost when you create your cost analysis. | |||||||||||||||
Hint: There are many ways to set up a visualization, pick a way that makes sense for you. You can copy and paste the recipes or make reference in the cells below to the original numbers on the data pages. | |||||||||||||||
Vanilla | Vanilla Cupcakes | Butter Cream Frosting Cupcakes | Total | ||||||||||||
Ingredient | eggs | sugar | salt | vanilla | flour | baking powder | butter | vanilla | butter | shortening | confec. Sugar | salt | milk | ||
Unit measured as | dozen | pounds | pounds | quart | pounds | pounds | pounds | quart | pounds | pounds | pounds | pounds | gallons | ||
Amount of unit used per 36 cupcakes | 0.7500 | 0.9923 | 0.0049 | 0.0150 | 1.2375 | 0.0195 | 1.0000 | 0.0225 | 0.7500 | 0.6780 | 3.9600 | 0.0049 | 0.0473 | ||
price/unit | $1.50 | $0.50 | $0.20 | $40.00 | $0.30 | $3.00 | $2.00 | $40.00 | $2.00 | 0.55 | $0.56 | $0.20 | $3.00 | ||
Ingredient cost per /36 cupcakes | $1.12500 | $0.49613 | $0.00098 | $0.60000 | $0.37125 | $0.05850 | $2.00000 | $0.90000 | $1.50000 | $0.37290 | $2.21760 | $0.00098 | $0.14175 | $9.78508 | |
Cost /cupcake | $0.270 | ||||||||||||||
Determination of cost of each type of Cupcake, per unit | |||||||||||||||
Particulars | Source | Vanilla Cup Cake | Total | Butter cream frosting cupcakes | Total | ||||||||||
Eggs | Sugar | Salt | Vanilla | Flour | Baking powder | Butter | Vanilla | Butter | Shortening | Confec.S | |||||
A | Unit of Measurement | Given | Dozen | Pounds | Pounds | Quarts | Pounds | Pounds | Pounds | NA | Quarts | Pounds | Pounds | Pounds | NA |
B | Quantity required for 36 cupcakes | Given | 0.7500 | 0.9923 | 0.0049 | 0.0150 | 1.2375 | 0.0195 | 1.0000 | 4.0192 | 0.0225 | 0.7500 | 0.6780 | 3.9600 | 5.4105 |
C | Ingredient Cost for 36 cupcakes | Given | $1.12500 | $0.49613 | $0.00098 | $0.60000 | $0.37125 | $0.05850 | $2.00000 | $4.6519 | $0.90000 | $1.50000 | $0.37290 | $2.21760 | $4.9905 |
D | Cost of ingredients for 1 Cupcake | C/36 units | $0.03125 | $0.01378 | $0.00003 | $0.01667 | $0.01031 | $0.00163 | $0.05556 | $0.1292 | $0.02500 | $0.04167 | $0.01036 | $0.06160 | $0.1386 |
Therefore, Cost of per unit of | |||||||||||||||
Vanilla Cupcake = | $0.1292 | ||||||||||||||
Butter cream frosting cake = | $0.1386 |