Problem 5 Mighty Muffler, Inc. operates an automobile service facility, which specializes in replacing mufflers on cars. The following table shows the costs incurred during a month when 750 mufflers were replaced. Number of Muffler Replacements 750 500 1.000 Total costs Fixed costs Variable costs Total costs Cost per muffler replacement Fixed cost Variable cost P60,000 37,500 97,500 a b. f k Total cost per replacement Required: Fill in the missing amounts. m
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I know the answers to the requirements. I only need an explanation as to how was the variable cost in cost per muffler is 50
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- 4. Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on new home construction jobs. The following are some of the costs that they incur. Classify these costs as fixed or variable costs and as product or period costs. Costs Variable / Fixed Product / Period Lumber used to construct decks ($12.00 per square foot) Carpenter labor used to construct decks ($10 per hour) Construction supervisor salary ($45,000 per year) Depreciation on tools and equipment ($6,000 per year) Selling and administrative expenses ($35,000 per year) Rent on corporate office space ($34,000 per year) Nails, glue, and other materials required to construct deck (varies per job)Classifying costs The following is a list of costs that were incurred in the production and sale of all-terrain vehicles (ATVs). a.Attorney fees for drafting a new lease for headquarters offices. b.Cash paid to outside firm for janitorial services for factory. c. Commissions paid to sales representatives, based on the number of ATVs sold. d.Cost of advertising in a national magazine. e.Cost of boxes used in packaging ATVs. f. Electricity used to run the robotic machinery. g.Engine oil used in engines prior to shipment. h. Factory cafeteria cashier's wages. i. Filler for spray gun used to paint the ATVs. j. Gasoline engines used for ATVs. k.Hourly wages of operators of robotic machinery used in production. I. License fees for use of patent for transmission assembly, based on the number of ATVs produced. m. Maintenance costs for new robotic factory equipment, based on hours of usage. n. Paint used to coat the ATVs. o.Payroll taxes on hourly assembly line employees. p.Plastic for outside housing of ATVs. q.Premiums on insurance policy for factory buildings. r. Properly taxes on the factory building and equipment. s.Salary of factory supervisor. t. Salary of quality control supervisor who inspects each ATV before it is shipped. u.Salary of vice president of marketing. v. Steering wheels for ATVs. w. Straight-line depreciation on the robotic machinery used to manufacture the ATVs. x.Steel used in producing the ATVs. y.Telephone charges for company controller's office. z.Tires for ATVs. Instructions Classify each cost as either a product cost or a period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense. Use the following tabular headings for your answer, placing an "X" in the appropriate column.Question 4 You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021. R R Unit selling price 160 Less: Direct materials 50 Direct labour 30 Fixed Overheads: Admin 4.00 Rent 7.50 Rates…
- Question 5 You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021. R R Unit selling price 160 Less: Direct materials 50 Direct labour 30 Fixed Overheads: Admin 4.00 Rent 7.50 Rates…Scrap/Rework HotPie's Bakery's #1 selling product is the Walder Pie. Use this financial information to answer the question. Sales and Cost Information for Walder Pies Financial Information at 80% capacity Units and Per Unit Costs Dollars Sales 10,000 50,000 Direct Materials 1.00 10,000 Direct Labor 1.60 16,000 Variable OH 0.50 5,000 Fixed OH 0.75 7,500 HotPie has discovered that 10% of the time, the chef forgets to brown the butter, making the Walder Pies defective. They can sell the pies to Ramsey Bolton to feed to his dogs for $2/pie. Alternatively, they can rework the pies for an additional per unit cost of $1 in direct materials, $2 in direct labor and $0.10 in variable overhead. the reworked pies can be sold for $5/pie. How much will HotPie make if they sell the defective pies to Ramsey Bolton? Group of answer choices 1,000 1,250 5,000 2,000Question 7 You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021. R R Unit selling price 160 Less: Direct materials 50 Direct labour 30 Fixed Overheads: Admin 4.00 Rent 7.50 Rates…
- BLOCK E/2018/2 Rimz AG is a luxury car wheel manufacturer, which in a two-stage production process first creates the part on which the tires are mounted (unfinished This part is then decorated with very expensive and glittering precious metals on the visible side in order to process them into finished products. The production costs for the finished products amount to € 12,000 per rim and consist of 20% work-in-progress, 70% raw materials and 10% personnel expenses. Rimz AG applies the total cost method in t1 . The commodity account, the work-in-progress account and the finished goods account are managed using the contraction method. Salary payments are to be posted from the bank account without ancillary wage costs. Create the posting records for the following business transactions: 10 finished rims are produced using raw materials already available from the previous periode0 . Rimz AG sells four rims in t1 to its best customer Mr. Obomoyang for 25,000 € net per piece…Question 1.2 Alejandro Kirk Manufacturing produces two types of entry doors: Deluxe and Standard. The assignment basis for support costs has been direct labour dollars. For 2021, Alejandro Kirk the following data for the two products: Deluxe Standard Sales units 50,000 400,000 Sales price per unit $650.00 $475.00 Direct material and labour costs per unit $180.00 $130.00 Manufacturing support costs per unit $80.00 $120.00 Last year, Alejandro Kirk Manufacturing purchased an expensive robotics system to allow for more decorative door products in the deluxe product line. The CFO suggested that an ABC analysis could be valuable to help evaluate a product mix and promotion strategy for the next sales campaign. She obtained the following ABC information: Activity Cost Driver Cost Total Deluxe Standard Setups # of setups $500,000 500 400 100 Machine related # of machine hours…Nelly Technology manufactures a particular computer component. Currently, the costs per unit are asfollows:Direct material P 50Direct labor 500Variable overhead 250Fixed overhead 400Fur Inc. has obtained Nelly with a offer to sell 10,000 units of the component for P1,100 per unit. IfNelly accepts the proposal, P2,500,000 of the fixed overhead will be eliminated. Should Nelly makeor buy the component?
- Question 11 You are contemplating leaving your full-time employment to concentrate your ability on the marketing of a new low-energy portable heater. You have spoken to a group of manufacturers of similar product, and you have produced the following data based upon the production of 1200 heaters in the six months to December 31, 2021. R R Unit selling price 160 Less: Direct materials 50 Direct labour 30 Fixed Overheads: Admin 4.00 Rent 7.50 Rates…Ken Owens Construction specializes in small additions and repairs. His normal charge is $500/day plus materials. Due to his physical condition, David, an elderly gentleman, needs a downstairs room converted to a bathroom. Ken has produced a bid for $5,000 to complete the bathroom. He did not provide David with the details of the bid. However, they are shown here. Ken’s Bid Detail DollarsDirect Material $2,100Direct Labor 1,600Variable overhead 200Fixed overhead 600Profit 500$5,000 A. The town’s social services has asked Ken if he could reduce his bid to $3,900. Should Ken accept the counter offer? Current Bid New BidDirect Material $2,100 $2,100 Direct Labor 1,600 1,600 Variable overhead 200 200 Fixed overhead 600 Profit 500 $5,000 $3,900 _________ B. How much would his income be reduced? $___________ C. If the town’s social services guaranteed him another job next month at his normal price, could he accept this job at $3,900? _________Required information Skip to question [The following information applies to the questions displayed below.] Fancy Furniture produced a batch of 2,000 coffee tables at a cost of $355,000. It was discovered that the entire batch was finished improperly. Fancy can sell the tables as seconds for $305,000 or spend an additional $315,000 to refinish them and sell them for $605,000. In deciding whether to rework the tables or sell them as is, management should: