ABC Manufacturing currently produces 2,000 glasses per month. The following per unit data apply for sales to regular customers and is based on 1,000 units produced. Direct materials $200 Direct manufacturing labor $40 Variable manufacturing overhead $80 Fixed manufacturing overhead $50 Total manufacturing costs $350 What is the total cost of producing 2,000 glasses? Instructions: Input your answer without using a dollar sign, comma or cents. For example, if your answer is 10000, input your answer as 10000 (and NOT $10000, or $10,000 or 10,000.00 or $10,000.00)
Q: How does a balance sheet and income statement help local town businesses.
A: A balance sheet is a type of financial statement that shows the condition of a company's finances at…
Q: Shamrock Inc. is considering modernizing its production facility by investing in new equipment and…
A:
Q: Scorpio makes premium bikes using two departments, assembly and painting. Assembly estimates using…
A: job order costing is a valuable tool for businesses that produce unique, customized, or complex…
Q: Questions 1. state if each of the costs identified above should be provided for. Give reasons for…
A: 1. The costs identified above and whether they should be provided for are as follows: a) Cost of…
Q: Shalom Company prepared its production plan for each quarter of 2023: Units 24,000 2 30,000 3 32,000…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: Concord Corporation was starting a new style of jacket and was monitoring the costs of its first…
A: Total Manufacturing Costs :— It is the total cost incurred in the manufacturing of product during…
Q: You bought a $3,000 audio system and agreed to pay for the purchase by making 9 equal installments…
A: The time value of money is a key concept in finance. It recognizes that a dollar received today is…
Q: Interest During Construction Sunfish Company is constructing a building that qualifies for interest…
A: The interest related to the loan taken for the construction of building machinery etc can be added…
Q: Newton Labs leased chronometers from Brookline Instruments on January 1, 2021. Brookline Instruments…
A: Preparation of entry for newton labs and brookline instrument are as follows
Q: Botosan Factory has budgeted factory overhead for the year at $551,040, and budgeted direct labor…
A: In the case of Overheads, the allocation of it is based on the predetermined overhead rate on an…
Q: conduct a library research by comparing year to year revenues and profits for years 2020 and 2021…
A: ANSWER:- For America's greatest corporations, the COVID-19 pandemic has resulted in record revenues…
Q: Rossy Investigations purchased land, paying $97,000 cash plus a $250,000 note payable. In Addition,…
A: Cost of the land include purchase price of the land, any related expenses such as closing costs,…
Q: Question 2 of 5 No. 101 112 157 158 201 208 301 306 400 429 711 726 732 Cash Equipment Accumulated…
A: Formula : Net profit / (Loss) = Total revenue - Total expenses
Q: Your client has requested that you assist them in setting up their accounting system and asks that…
A: Answer:- Accounting system:- An accounting system is a collection of accounting processes that have…
Q: Balance Sheet December 31, 2021 Current Assets: Cash 46,200 Accounts Receivable (net)…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: he adjusted trial balance of Erickson Real Estate Appraisal at June 30, 2018, follows:
A: Income Statement Is The One Of The Three Major Financial Statements That Shows The Company's Income…
Q: 1. Supplies for office use were purchased during the year for $560, of which $130 remained on hand…
A: Date Account Debit Credit Year-end Supplies expenses 430.00 supplies inventory 430.00…
Q: January 1, 2023, Pelicans Company sold an equipment to Hornets Company which had a carrying value on…
A: Note receivable is an asset which binded with a promissory note. This promissory note includes term…
Q: 3. Multiple product companies Pet Park International sells cat food and dog food. Its monthly fixed…
A: Break even sale is a point of sale where company don't have any profit or loss. calculation of break…
Q: When establishing an understanding with an audit client, that understanding should be documented
A: While a management representation letter is a key part of the audit process, it is not the only way…
Q: Partnership Liquidation-Safe Payments Several years ago, Ann Dennis, Jill Edwards, Lee Lacy, and…
A: To liquidate the partnership and distribute the proceeds, the partners must first settle all…
Q: Pierson Pet Products produces two models of dog beds: Basic and Custom. Price, cost and expected…
A: Break-even volume is the sales level where a business covers all its costs, but doesn't make any…
Q: c) Peach is to introduced $20000 as capital, part of which was used on 1 January to purchase a new…
A: Question has mentioned that profit and loss are to be shared in proportion of Capital Account…
Q: Primare Corporation has provided the following data concerning last month's manufacturing…
A: Cost of goods manufactured means the amount of cost incurred on the production of the goods. It is…
Q: Riverbed Corporation is a regional company which is an SEC registrant. The corporation's securities…
A: Common stock The value of common stock can be determined the product of number of shares held by a…
Q: The adjusted trial balance of Erickson Real Estate Appraisal at June 30, 2018, follows: ERICKSON…
A: Retained earnings are an accumulation of net profits/losses earned or incurred by the company…
Q: Ramos Corp. uses a process costing system to assign costs to its steel production. During March,…
A: FIFO stands for First in first out, which is a method of inventory valuation and this method states…
Q: Mason Co. is evaluating two alternative investment proposals. Below are data for each proposal:…
A: Part-(A):- Calculation of Annual Net Cash Flows:- Particulars Proposal A Proposal B Net Income…
Q: Mint Cleaning Incorporated prepared the following unadjusted trial balance at the end of its second…
A: Balance sheet is the financial statement which is prepared at the end of the period. It reports the…
Q: The bookkeeper for Galloway Paints made the following journal entry to record a transaction that…
A: Given, Inventory is debited for $25,000 which results in an increase in the current assets by…
Q: The following information is available for two different types of businesses for the Year 1…
A: Income statement : It is prepared to know the net income (or net loss) earned by the business for a…
Q: Subsequent to the acquisition, Drover obtains information that Exeter's plant assets have a fair…
A: The measurement period adjustments are made against goodwill provided the same is incurred during…
Q: The adjusted trial balance for Sheridan Company is given below: SHERIDAN COMPANY Trial Balance…
A: for preparation of balance sheet, First we need to find out the net profit. SHERIDAN COMPANY…
Q: Russell Co. received a $480 utility bill for the current month's electricity. It is not due until…
A: Business transactions are defined as the dealings that take place between the business and its…
Q: (04-6) Given the following information, calculate the total annual tax liability of the homeowner:…
A: Tax liability is the amount you owe to taxing entities like your local, state, and federal…
Q: Assets Cash Beech Corporation Balance Sheet September 30 Accounts receivable mventory Plant and…
A: Balance sheet refers to the one of the financial statements of the business which is prepared at the…
Q: [The following information applies to the questions displayed below] On July 1, TruData Company…
A: Option B is the correct answer: (B)$ 253,800 Formula for retained earnings as of July 1 is as…
Q: The contribution margin sales volume variance for Product X is: Multiple Choice
A: Contribution Margin Volume Variance = (actual quantity - budgeted quantity) * budgeted contribution…
Q: Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur…
A: 1. April May June Total February sales $23,000 (i.e. $230,000x10%) $23,000 March sales…
Q: QUESTION 2 Billy Bourne makes $97574 annually. How much does Billy pay for his E.I. premium for the…
A: The Employment Insurance (EI) premium rate for 2022 is 1.58% of insurable earnings, up to a maximum…
Q: Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about…
A: calculation of credit sale of each month and total cash receipts of july and august are as follows
Q: Following are the individual financial statements for Gibson and Davis for the year ending December…
A: In an income statement, one-fourth portion of the revenue and expenses is deducted because the…
Q: Tea Blending Specialists has no debt outstanding and a total market value of $349,680. Earnings…
A: Share repurchase refers to those transactions in which a company buys back its own shares. The…
Q: The managerial accountant at Seaside Manufacturing reported the following data: Units: Beginning WIP…
A: Finished goods inventory is the third and final classification of inventory that is used for…
Q: 26 es The general ledger of Zips Storage at January 1, 2024, includes the following account…
A: Unadjusted Trial Balance :— It is the list of debit and credit balance of all ledger accounts before…
Q: Garton Company had net income of $195,000 in 2020. Depreciation expense for the year is $50,000.…
A: INTRODUCTION: Cash flow from operations is the first of three elements of the cash flow statement…
Q: Calculate Net Promoter score given the following: Number of Detractors Number of Passives Number of…
A: The Net promoter score is the disparity between the total number of supporters and opponents. It is…
Q: Johny Company is a merchandising company and has the following information: Month June July August…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: Given that selling, distribution and administrative costs associated with the V380PRO brand of WIFI…
A: Cost of goods sold = sum of issue side - sales return - defective items - lost item
Q: A company purchased a special purpose machine on August 1 of the past year, and it was installed and…
A: The acquisition cost includes the purchase price of fixed assets, non-refundable taxes, and other…
Step by step
Solved in 2 steps with 2 images
- Acme Inc. manufactures and sells widgets. Acme Inc. sells widgets for $15 each. Acme Inc. uses 3 gizmos for each widget. Gizmos cost $2 each. In December, Acme sold 300 widgets. Acme also pays rent of $500 per month. please show work. A.) What is Acme Inc.'s contribution margin per unit? B.) What is Acme Inc.'s contirbution margin ratio? C.) Assuming the about information is all revenue and expenses for scme, what is December's net income? D.) Determine the fixed cost give the following information: Lowest level of activity- 200 units at a total cost of $600 Highest level of activity- 800 units at a total cost of $1,800 Fixed cost =Yarn Basket, Ltd., sells handminus−knit scarves. Each scarf sells for $35. The company pays $350 to rent a vending space for one day. The variable costs are $10 per scarf. What total revenue amount does the company need to earn to break even?Paradise Marine Sails manufactures sails for sailboats. The company’s capacity is 29,000 sails per month. They are currently producing 25,000 sails a month. Current production cost can be found in the chart below: Sales Price $200 Variable Cost Manufacturing Cost $100 Administrative Cost $50 Total Fixed Cost Manufacturing $500,000 Administrative $480,000 Should you accept a special order at a price of $170 for 3000 sails? Fixed cost will increase by $9,000 to produce these sails. Give a numerical justification Would your answer be different if the company was currently producing 28,000 sails?
- Danisa has fixed expenses of R2 800 per month. He spends R18,53 to manufacture an item. b) Calculate a selling price based on the percentage mark-up of 15% on your cost price in a). What is his cost price per unit when he produces 100 units? Show your calculations. Classwork activity 3.2 a) Round the answer up to the next R5. c) Copy and complete the table. 46.53 peR UNILS 250 Total sold 100 10 50 Fixed expenses (R) 2 800,00 Variable expenses (R) Total expenditure (R) Income (R) Profit (R) d) (i) On the same set of labelled axes, draw the expenditure and income graphs. (ii) What does the point of intersection of the two graphs represent? (iii) Write down the approximate number of units sold at the point of intersection. Elana has monthly fixed expenses of R8 730,00. er variable costs to deliver a service is R93,16. Calculate the cost price per unit if she services 50 customers. Show your calculations. Calculate a selling price based on a percentage mark-up of 25%. Round the answer up…Team Spirit Calendars imprints calendars with college names. The company has fixed expenses of $1,065,000 each month plus variable expenses of $3.50 per carton of calendars. Of the variable expense, 71% is cost of goods sold, while the remaining 29% relates to variable operating expenses. The company sells each carton of calendars for $13.50. Read the requirements. Requirement 1. Compute the number of cartons of calendars that Team Spirit Calendars must sell each month to breakeven. Begin by determining the basic income statement equation. Variable expenses Sales revenue ... The breakeven sales is 106,500 cartons. Fixed expenses Using the basic income statement equation you determined above solve for the number of cartons to break even. = Operating income Requirement 2. Compute the dollar amount of monthly sales Team Spirit Calendars needs in order to earn $304,000 in operating income. Begin by determining the formula. Fixed expenses + Target operating income ( (Round the contribution…3. Batman Products Inc. manufactures two items, masks and capes. Each item passes down two assembly lines. Masks take one hour on line I and 3 hours on line II. They sell for $24 each. Capes take 1 hour on line I and. 1 hour on line II. They sell for $4.00 each. Line I is available for 6 hours daily and line II is available for 12 hours daily. What is the maximum revenue from a day's production and how should they achieve it?
- Firm X sold 1,000 units of their product last month at a price of $600. If it costs them $300 to produce each unit, what is their gross margin for the month? Answer 2$ Show your work or leave a commentA clothing retailer is going to mail out 10,000 catalogues. It costs $2 to mail out each catalogue. When a customer places an order from a catalogue assume a profit of $50 per order is earned. It is assumed that 5% of those who receive a catalogue will place an order however, this number can vary. Use the file below to help you with your tables. Assume that: [total profit = total profit made from the orders – the amount spent on mailing out the catalogues]. a) Use a one-variable data table to determine how the total profit earned from the mailing will vary depending on a response rate between 4% and 10% (with increments of 2%). b) Create a two-variable data table to show how the total profit changes with a varying response rate and number of catalogues mailed. Vary the response rate between 4% and 10% with increments of 2% and vary the number of catalogues mailed from 10,000 to 30,000 at increments of 5000.Roe manufactures and sells cloth facial masks. Per unit direct material and direct labor costs are $1 and $2 respectively. Other than these costs, Roe pays $1,000 for rent, $1,500 for the floor manager's salary, and recognizes $300 depreciation on the equipment every month. Roe sells each mask at $10. If Roe sells 500 masks, what would be Roe's total revenue and total costs? Group of answer choices Total revenue: 5,000; Total costs: 1,500 Total revenue: 5,000; Total costs: 4,300 Total revenue: 3,500; Total costs: 1,500 Total revenue: 3,500; Total costs: 2,800
- XYZ is a retailer and sells 171,000 units per year. It purchases from a single supplier. Fixed cost per order is $900 and carrying cost is $5 per unit. Suppose XYZ orders 9,000 units per order from the supplier. What are the total costs (sum of carrying costs and shortage costs)? Round off your answer to two decimal points. Do not enter $ in the answer box.Williams Performance Co. manufactures sports cars. After making a sale, the salesperson sends the car to be detailed before the customer takes it home. Detailing the car takes 15 minutes at a cost of $16 per hour for direct labor and $6 per car for materials. If the average salesperson sells six cars per day, what is the average cost per 5-day week for detailing cars? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) What is the answer/how do you get it?[The following information applies to the questions displayed below.]Shadee Corp. expects to sell 630 sun visors in May and 410 in June.Each visor sells for $24. Shadee’s beginning and ending finishedgoods inventories for May are 75 and 45 units, respectively. Endingfinished goods inventory for June will be 60 units.!Suppose that each visor takes 0.80 direct labor hours to produce and Shadee pays itsworkers $8 per hour.Required:Determine Shadee's budgeted direct labor cost for May and June. (Do not round yourintermediate values. Round your answers to 2 decimal places.)$ $May JuneBudgeted Direct Labor Cost 0.00 0.0