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- Open MFG2 and click the Chart sheet tab. The management of Twisp is convinced that the quality of its products is highly dependent on their relative labor costs. Experience has shown that direct labor should account for at least 45% of the total product cost. According to the pie chart that appears on the screen, Twisp did not achieve this goal in 2011. How much should Twisp have spent on direct labor to reach its 45% goal? To find out, try different values for direct labor (cell C8), clicking the Chart sheet tab after each attempt. When you find a direct labor level that increases the direct labor percentage to 45%, enter the answer in the space provided: In 2011, direct labor needed to be ________________. Open MFG3 and click the Chart sheet tab. Did Twisp achieve its 45% goal in 2012? If not, answer the following: In 2012, direct labor needed to be ________________. When the assignment is complete, close the files without saving them again. Worksheet. The MFG2 worksheet presents the companys manufacturing activities for 2011. The company also had the following selling and general activities in 2011: sales of 13,503,000, selling expenses of 2,400,000, and general expenses of 1,200,000. Modify the worksheet to include this information in the Data Section and change the Answer Section so that it is in the form of an income statement. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as MFGT. Hint: Expand the Data Section to include these additional input items alphabetically. Insert a row for sales under the heading in the Answer Section. Add the rest of the income statement information to the bottom of the schedule. You will need to enter formulas for gross profit, all the expenses, and net income. You will also need to change the statement name. Chart. Using the MFG2 file, prepare a single 3-D bar chart to show the dollar amount of materials, labor, and overhead incurred by Twisp in 2011 and 2012. Complete the Chart Data Table and use it as a basis for preparing the chart. Enter all appropriate titles, legends, and formats. Enter your name somewhere on the chart. Save the file again as MFG2. Print the chart.Accounting Evman Company has decided to introduce a new product, which can be manufactured by either a computer-assisted manufacturing system or a labour-intensive production system. The manufacturing method will not affect the quality of the product. The estimated manufacturing costs by the two methods are as follows: computer-assisted manufacturing system labour-intensive production system Direct Material $5.00 $5.60 Direct Labour .5DLH @ $12 $6.00 .8 DLH @ $9 $7.20 Variable Overhead .5 DLH @ $6 $3.00 .8 DLH @ $6 $4.80 Fixed Overhead * $2,440,000 $1,320,000 These costs are directly traceable to the new product line. They would not be incurred if the new product were not produced. The company’s marketing research department has recommended an introductory sales price of $30. Selling expenses are estimated to be $500,000 annually plus $2 for each unit…Accounting Evman Company has decided to introduce a new product, which can be manufactured by either a computer-assisted manufacturing system or a labour-intensive production system. The manufacturing method will not affect the quality of the product. The estimated manufacturing costs by the two methods are as follows: computer-assisted manufacturing system labour-intensive production system Direct Material $5.00 $5.60 Direct Labour .5DLH @ $12 $6.00 .8 DLH @ $9 $7.20 Variable Overhead .5 DLH @ $6 $3.00 .8 DLH @ $6 $4.80 Fixed Overhead * $2,440,000 $1,320,000 These costs are directly traceable to the new product line. They would not be incurred if the new product were not produced. The company’s marketing research department has recommended an introductory sales price of $30. Selling expenses are estimated to be $500,000 annually plus $2 for each unit…
- I need help solving this problem. The picture attached is the information which was given. I copy and pasted the part of the problem I need help completing which is asking for the statement of cost of goods manufactured. I found the values which were missing in the original information and have copy and pasted those values. Thanks! a. $59960 $84830 b. $528820 $271120 c. $549650 $216030 d. $544090 $92710 e. $479010 $457230 f. $345740 $263070 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 $ Cost of goods sold: $ $ $ $BE5.5 - Using Excel to Evaluate a Make-Versus-Buy Decision Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. Grunar Industries produces the component parts needed for its popular non-commercial-use drones. One of the key parts has become more costly to produce than first planned, however, so management is considering outsourcing that part. If the company decides not to manufacture this part, a portion of its fixed manufacturing overhead costs would continue. The costs to produce one such part internally and to purchase on part from the suppler are given here. Complete the schedule to support the decision of whether to make or buy the part. Relevant Costs to Make Relevant Cost to Buy Costs to produce internally…Apple produces tablet computers. Identify some of the variable and fixed product costs associated with that production. Hint: Limit costs to product costs.
- COGS??? COGM??? Total manufacturing costs Please don't give solution in an image format thankuHello, I believe Answer 1 may have some errors. You included $4080 as the "indirect material used in production" but the original table has it listed as 4680. This may have changed the remainder of the answer including the "total manufacturing cost" and the "cost of good manufactured". Please advise. Thanks.i need D E F and G to be solved please (a) What is the total manufacturing time required to meet the office chairdemand? =2268 hr(b) What is the total manufacturing time required to meet the reclining chair =1530demand?(c) What is the total manufacturing time required to meet the studio chairdemand?=1632(d) What is the total manufacturing time required to meet the conferenceroom chair demand?(e) Given the current capacity cushion, what is the available manufacturingtime per workstation?(f) With the current setup, is UFS capable of meeting its demand requirements?(g) Suggest a strategy that could achieve a reduction in production costs.Discuss any advantages and disadvantages of your proposed solution.
- A small company manufactures a certain item and sells it online. The company has a business model where the cost, C in dollars, to make x items is given by the equation C = 20/3 x + 50. The revenue R , in dollars , made by selling x items is given by the equation R = 10x. How many items must the company sell in order for the cost to equal their revenue?2. Computer services are among the costs incurred in a factory. Costs expected at a range of activity levels are: 125 150 175 Activity (000 units) Costs ($000): Computer services 42 46 50 What is the amount of fixed cost using the high-low method?May I ask for help with this question? I got an answer of 9,600,000 (Rounded Up) Please check. N Co. incurred the following costs in self-generating computer software: