Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Textbook Question
Chapter 7, Problem 8R
Reset the November 20 purchase to 150 units, including column G. To test your formulas, suppose that Del had sold 600 units rather than 500. Sales now total $384,000. The extra units sold come from the May 13 purchase (25 units) and the November 20 purchase (75 units). Change cell B17 to 600 and cells D32 through G32 to $384,000. Alter columns E, F, and G in the Data Section to reflect the change. Your formulas should automatically redo the Calculations and Answer sections. Print the results again.
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**This is my second time posting the first time it wasn't answered all the way, thank you.
The Volt Battery Company has forecast its sales in units as follows:
January
1,100
February
950
March
900
April
1,400
May
1,650
June
1,800
July
1,500
Volt Battery always keeps an ending inventory equal to 130 percent of the next month’s expected sales. The ending inventory for December (January’s beginning inventory) is 1,430 units, which is consistent with this policy. Materials cost $12 per unit and are paid for in the month after purchase. Labor cost is $5 per unit and is paid in the month the cost is incurred. Overhead costs are $7,500 per month. Interest of $8,300 is scheduled to be paid in March, and employee bonuses of $13,500 will be paid in June.
a. Prepare a monthly production schedule for January through July.
Volt Battery Company
Production Schedule
January
February
March
April
May
June
July
Projected unit sales
1,100selected…
McGarvey Manufacturing Company had the following 12 months of data on purchasing cost and number of purchase orders.
Month
Purchasing Cost
Number of PurchaseOrders
January
$19,250
370
February
18,060
330
March
18,200
340
April
18,050
410
May
19,345
400
June
19,500
450
July
19,670
460
August
21,300
600
September
19,430
440
October
20,020
570
November
18,800
470
December
19,340
480
Required:
1. Determine the high point and the low point.
Month with high number of purchase orders
_______
Month with low number of purchase orders
_______
2. Calculate the variable rate for purchasing cost based on the number of purchase orders. (Round to the nearest cent.)$_____ per purchase order
3. Calculate the fixed monthly cost of purchasing.$_____
4. Write the cost formula for the purchasing activity showing the fixed cost and the variable rate. Round variable rate to the nearest cent.
Total purchasing cost…
The following is Cullumber Company’s income statement for the past year.
Sales revenue
$336,000
Cost of goods sold
134,400
Gross margin
201,600
Operating expenses
145,600
Operating income
$56,000
If the company wants to sell a new product that costs $49 wholesale while keeping the same markup structure, what will be the price of the new product? (Use the gross margin percentage and round final answer to 2 decimal places, e.g. 25,124.25.)
Price of the new product
$enter the price of the new product in dollars rounded to 2 decimal places
Chapter 7 Solutions
Excel Applications for Accounting Principles
Ch. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - Prob. 3RCh. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - What changes would have taken place if Dels...Ch. 7 - Suppose Dels purchase prices had remained...Ch. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - Reset the November 20 purchase to 150 units,...Ch. 7 - Click the Chart sheet tab. On the screen is a...
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