A Stone Age Surfboards Data Department Graystone Fabrication 2.5 Finishing 2 Profit/Unit $40.00 10 11 12 Model 13 Graystone Lava 14 Quantity Produced 15 Fabrication 16 Finishing 17 18 19 Market Mixture 20 21 22 Profit Contribution What is the quantity of Graystone surfboards produced? 7 1 2 3 4 5 6 7 8 9 10 2 5 B C Product Lava 4.2 3.6 $60.00 D Limitations (hours) 74 30 Hours Used Excess Lava Total Profit
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- 12. Menchie Corporation is developing standards for its products. One product requires an input that is purchased for P57.00 per kilogram from the supplier. By paying cash, the company gets a discount of 8% off this purchase price. Shipping costs from the supplier's warehouse amount to P3.60 per kilogram. Receiving costs are P0.26 per kilogram. The standard price per kilogram of this input should be: A.P 57.70 В. Р 56.30 С. Р 65.42 D. P 57.00Q5b) Contribution statement for Chiyeyeye furniture manufacturing LtdProduct A(ZMW) Product B(ZMW)Sales 1000 500Variable costs 600 300Contribution 400 200Fixed costs 200 200Profit 100 -Calculatei) Break-even point for each productii) Contribution ratio for each productiii) Can you close product B and why? ExplainXYZ Inc. manufactures a component D12, and two main products F45 and P67. The following details relate to each of these items: D12 D45 P67 Selling price ? 146 159 Material cost 10 15 26 Component D12 (bought-in price) ? 25 25 Direct labour 5 10 15 Variable overheads 6 12 18 Total variable cost per unit 21 62 84 Fixed overhead costs: P per annum P per annum P per annum Avoidable* 9,000.00 18,000.00 40,000.00 Non-avoidable 36,000.00 72,000.00 160,000.00 Total 45,000.00 90,000.00 200,000.00 * The avoidable fixed costs are product-specific fixed costs that would be avoided if the product or component were to be discontinued. 1. Assuming that the annual demand for component D12 is 5,000 units and that XYZ Inc. has sufficient capacity to make the component itself, the maximum price that should be paid to an external supplier for 5,000 components per year is 2. Assuming that component D12 is bought from an external supplier for P25.00 per unit, the number of units…
- The end product J is made from components K, L, and M. K is made from N and O. O is made from P and Q. What is the gross requirement for Q if the company plans to build 10 of its J model? Assume that there are no beginning inventories. 60 360 10 120 3014. You are given the following Company Information Company LFrom the point of origin Direct materials 120.000Purchases of direct materials 228000Direct labour costs 610000Direct cost initial cost 780000 The stock cost of direct materials is the amount?Fundador Inc. manufactures X product from a process that yields a by-product called Z. The by-product requires additional processing cost of P30,000. The by-product will require selling and administrative expenses totaling P20,000. It is Fundador’s accounting policy to charge the joint costs to the main product only. Information concerning a batch produced during the year ended December 31, 2020 follows: Product Units Produced Market Value at Split off Units Sold X 100,000 P50 60,000 Z 8,000 10 8,000 The Joint costs incurred up to split-off point are: Direct materials P2,000,000 Direct labor 800,000 Factory Overhead…
- Fundador Inc. manufactures X product from a process that yields a by-product called Z. The by-product requires additional processing cost of P30,000. The by-product will require selling and administrative expenses totaling P20,000. It is Fundador’s accounting policy to charge the joint costs to the main product only. Information concerning a batch produced during the year ended December 31, 2020 follows: Product Units Produced Market Value at Split off Units Sold X 100,000 P50 60,000 Z 8,000 10 8,000 The Joint costs incurred up to split-off point are: Direct materials P2,000,000 Direct labor 800,000 Factory Overhead 200,000 The Selling and Administrative expense of Fundador Inc. for the year ended December…Identification. Pocket Umbrella, Inc., is considering producing a new type of umbrella. This newpocket-sized umbrella would fit into a coat pocket or purse. Classify the following costs of thisnew product as direct materials, direct labor, manufacturing overhead, selling expense, oradministrative expense.6. The salary of the supervisor of the people who assembled the product7. Wages of the product tester who stands in a shower to make sure the umbrellas do not leak8. Cost of market research survey9. Salary of the company’s sales managers10. Depreciation of administrative office buildingB. Essay. Answer below questions as required.1. Identify the three elements of cost incurred in manufacturing a product and indicate thedistinguishing characteristics of each. 2. What is the general content of a statement of cost of goods manufactured? 3. What is the relationship of the cost of goods manufactured to the income statement? 4. How did you cope up with your studies in this “new normal”…Unit costs associated with the sale of a product AA101: Direct Materials, P230 Direct labor, P120 Manufacturing support costs, P460 Sales staff salaries, P190Indirect costs per unit of AA101 area. P1000b. P650c. P540d. P580
- f. Short-Term Product-Mix Decision DVD Production Company produces two basic types ofvideo games, Flash and Clash. Pertinent data for DVD Production Company follow:*Based on direct labor hours: 4 direct labor hours (DLHs) per unit of Flash and 2 DLHs perunit of Clash.Flash ClashSales price $250 $140CostsDirect materials 50 25Direct labor (@ $25/hr.) 100 50Variable factory overhead* 50 25Fixed factory overhead* 20 10Marketing costs (all fixed) 10 10Total costs $230 $120Operating profit $ 20 $ 20The DVD game craze is at its height so that either Flash or Clash alone can be sold to keep the plantoperating at full capacity. However, labor capacity in the plant is insufficient to meet the combineddemand for both games. Flash and Clash are processed through the same production departments.Required1. What is the meaning and importance of the statement that “Flash and Clash are processed through thesame production departments”?3. FedExpress has the following information about its truck fleet miles and operating costs:Year Miles Operating2017 400,000 $256,0002018 480,000 $280,0002019 560,000 $320,000What is the best estimate of total costs using the high-low method if the expected fleet mileage for 2020 is 500,000 miles?A. $288,000.B. $296,000.C. $256,000.D. $320,000. Give workings for your answerQUESTION 4 An organisation manufactures a single product. The following information with regard to the raw material needed in the production process is supplied to you: Normal delivery time: 2.5 weeksMaximum delivery time: 3.5 weeksNormal usage: 52 000 units per yearPurchase price per unit: R8.50Cost of placing an order: R18.00Interest rate: 2% per yearStoring cost per unit: R2.50 Required: Calculate the re-order point if the organisation has a policy to keep safety stock. Calculate the safety stock that should be kept by the organisation.