For your course project, you will be operating a cookie company, making costing decisions, and performing analysis. In Module 06, you will make a presentation of your analysis.This Week, you will prepare a mission statement; set strategic, tactical, and operating objectives; decide on a company name; set cookie specifications, and decide on a cookie recipe. Additionally, you will calculate a standard cost per cookie and decide on an accounting system.Deliverables:Develop a ---> Microsoft PowerPoint <----- presentation which concisely presents the following information regarding your cookie company:Consider the company's mission. Will you focus on quality, volume, or satisfying a niche? Will you sell using a traditional brick & mortar storefront or through eCommerce? Who is your target market? What are your expansion plans? What will be your main products? Where will you operate?Write a mission statement for your company that reflects the decisions you made in the previous step.Based on your company's mission, describe the long-range goals, strategies, and objectives that your company will pursue. Will you increase sales a certain percent each year, increase the number of stores, co-brand with another product, etc.Decide upon a company name.Determine cookie specifications: size, color, key ingredients, appearance, quantity and packaging.Develop a recipe that fits with your mission, goals, and specifications.Create a job cost card for your cookie recipe and calculate cost per cookie. Assume overhead is allocated at a rate of $2 for every $1 of labor cost.List some of the costs you will include in overhead.Will you use a job order or process accounting system? Why?Include a diagram showing the flow of costs through your chosen system.

Vickie Plato, accounting clerk in the personnel office of Streisand Corp., has begun to compute pension expense for 2019 but is not sure whether or not she should include the amortization of unrecognized gains/losses. She is currently working with the following beginning-of-the-year present values for the projected benefit obligation and market-related values for the pension plan: Projected Benefit obligation Plan Assets Value2016 $2,000,000 $1,900,0002017 2,400,000 2,500,0002018 2,900,000 3,000,000The average remaining service life per employee in 2016 and 2017 is 10 years and in 2018 and 2019 is 12 years. The net gain or loss that occurred during each year is as follows.2016 $280,000 Loss2017 85,000 Loss2018 12,000 Loss2019 25,000 GainYou are the manager in charge of accounting. Write a memo to Vickie Plato, explaining why in some years she must amortize some of the net gains and losses and in other years she does not need to. In order to explain this situation fully, you must compute the amount of net gain or loss that is amortized and charged to pension expense in each of the 4 years listed above. Include an appropriate amortization schedule, referring to it whenever necessary.Just do response each posted # 1 to 3 down below only.Posted 1 Year Projected benefit obligation Plant Asset value 10% Corridor OCI Minimum amortization of loss 2016 2200000 1900000 220000 0 0 2017 2400000 2500000 240000 280000 3000 2018 2900000 2600000 290000 362000 6000 2019 3900000 3000000 390000 368000 0 In this situation the OCI amount of gains/losses does not grow too fast, as the asset and liabilities of gains and losses offset (balance). The corridor approach is a technique used to reduce the amounts of gains/losses to be recognized as an adjustments. “It requires recognition of certain gains and losses in excess of 10 percent of the greater of the projected benefit obligation or the market-related asset value.” this is to prevent the OCI accounts from getting to large. If this is exceed this the account of gains/losses must be amortized.Posted 2 When the amortization balance exceeds the corridor balance, which is set at 10% of the greater of projected benefit obligation or plan assets’ market-related value, then amortization must occur. In 2019 the $368,000 accumulated OCI fell in between the 10% corridor of $390,000 and no amortization was needed. 2017 & 2018 Accumulated OCI exceeded Corridors 10% for each of the years and there for had to report amortization.Year Projected Benefit Obligations Plants Assets Corridor Accumulated Minimum OCI(G/L) Amortization of loss2016 $2,2000,000 1,900,000 220,000 0 02017 2,400,000 2,500,000 250,000 280,000 3,0002018 2,900,000 2,600,000 290,000 362,000 6,0002019 3,900,000 3,000,000 390,000 368,000 0 Posted 3 Year Projected Benefit Obligation (PBO) Plan Assets Value 10% Corridor Accumulative Other Comprehensive Income (G/L) Minimum Amortization of Loss 2016 2,200,000 1,900,000 220,000 0 0 2017 2,400,000 2,500,000 250,000 280,000 3,000 2018 2,900,000 2,600,000 290,000 362,000 6,000 2019 3,900,000 3,000,000 390,000 368,000 0 The corridor rule requires to disclose the gain/ loss that exceeds 10% the larger of the pension projected benefit obligation (PBO) or the fair value of the plan assets. Follow that, this actuarial gain/ loss can be amortized over the periods of time of the service life and displayed on the income statement. Reversely, if the actuarial gain/ loss is less than 10% of the PBO or the market value of the plan assets, do not include them in annual pension expense. Also please note, if there was a gain, subtract it from the unamortized balance; and oppositely if there was a loss, you need to add it to the unamortized balance instead. From the above schedule, you do not need to amortize the $280,000 loss in 2016 because at the beginning year, the balance of the gain/ loss account was $0 and the loss of $280,000 was not recorded until the end of the year.Therefore, at the beginning of 2017, the balance of accumulated other comprehensive income G/L (OCI) was $280,000; 10% corridor was $250,000 = $2,500,000 * 10% which led the loss exceeded the corridor by $30,000 = $280,000 – $250,000.Also, the remaining service life was 10 years, so you should amortize $30,000/ 10 yrs. = $3,000 in 2017.In addition, the previous year’s amortization normally is combined with the current year gain/ loss. Then again, apply the corridor rule of 10% of this new amount. If it was more than 10% of the PBO or the market value of the plan assets, do the same as in 2017 to amortize the excess amount dividing by the remaining years.So, in 2018, the unamortized loss amount from 2017 was $280,000 – $3,000 = $277,000 would need to be added to the $85,000 loss in 2017: $277,000 + $85,000 = $362,000 which was exceeded the new corridor $290,000 by $72,000 = $362,000 – $290,000.Since the new remaining life changed to 12 years in 2018 and 2019, the new amortization would be $72,000 / 12 yrs. = $6,000.Now, in 2019, the loss from 2018 for $12,000 was added to the unamortized amount from the prior year: $362,000 – $6,000 + $12,000 = $368,000 which was less than the corridor of $390,000 which resulted in no amortization.