Question

In: Operations Management

Prime cost worksheet (figure %, cost & sales to two decimal places) Open and use the...

Prime cost worksheet (figure %, cost & sales to two decimal places)

Open and use the following chart below for the “prime cost” quiz. 10 questions for boxes A - J

Cost of sales + cost of Labor = Prime cost

Prime cost – cost of labor = cost of sales

Prime cost – cost of sales = cost of labor

Prime cost ÷ sales = prime cost %

Prime cost x PC% = Sales

Sales X PC% = prime cost

COST OF SALES	COST OF LABOR	PRIME COST	SALES	PRIME COST %
(A)	116,571.25	253,192.72	(B)	65.15%
82,317.54	89,994.45	(C)	283,850.50	(D)
736,780.23	(E)	1,511,023.48	2,497,560.95	(F)
(H)	2,439.23	(G)	6,420.75	72.99%
32,115.78	(I)	66,269.35	(J)	63.81%

A

B

C

D

E

F

G

H

I

J

Expert Solution

Cost of sales	Cost of labour	Prime Cost	Sales	Prime Cost %
(A)	1,16,571.25	253192.72	(B)	65.15%
82317.54	89994.45	( C )	283850.5	(D)
7,36,780.23	( E )	1511023.48	2497560.95	(F)
(H)	2439.23	(G)	6420.75	72.99%
32,115.78	(I)	66269.35	(J)	63.81%

Cost of sales + cost of Labor = Prime cost

Prime cost – cost of labor = cost of sales

Prime cost – cost of sales = cost of labor

Prime cost ÷ sales = prime cost %

Prime cost ÷ PC% = Sales

Sales X PC% = prime cost

A: Cost of sales = prime cost - cost of labor = 253192.72 - 116571.25 = 136,621.47

B: Sales = Prime cost/PC% = 253192.72/65.15% = 388,630.42

C: Prime cost = cost of sales + cost of labour = 82317.54 + 89994.45 = 172,311.99

D: Prime cost% = prime cost/sales = 172311.99/283850.5 = 60.71%

E: Cost of labour = Prime cost - cost of sales = 1511023.48 - 736780.23 = 774,243.25

F: Prime cost % = prime cost/sales = 1511023.48/2497560.95 = 60.50%

G: Prime cost = sales X PC% = 6420.75X72.99% = 4,686.51

H: Cost of sales = Prime sales - cost of labour = 4686.51 - 2439.23 = 2,247.28

I: Cost of labour = prime sales - cost of sales = 66269.35 - 32115.78 = 34,153.57

J: Sales = prime cost/PC% = 66269.35/63.81% = 103,854.18

keosha answered 2 months ago

Profit and Loss Worksheet - (Figure %’s to 2 decimal places) Cost of sales Open and...

Profit and Loss Worksheet - (Figure %’s to 2 decimal places) Cost of sales Open and use the chart below for the Cost of Sales Quiz. 7 questions A – G Cost of sales ÷ sales = cost of sale % Sales × cost of sale % = cost of sales Cost of sales ÷ Cost % = Sales Cost of food sales 256,820.32 Food Sales 802,562.50 Cost of Food % (A) Cost of Beer Sales (B) Beer Sales 32,505.00...

2. Complete the following cost schedule. Round to two decimal places. Answer the questions below ...

2. Complete the following cost schedule. Round to two decimal places. Answer the questions below after completing the table. Rate of Output Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $1000 1 1200 2 1450 3 1750 4 2100 5 2500 a. Use the cost data above to graph the ATC and MC curves. b. At what output rate is ATC minimized?

PYTHON PLEASE I'd also like to use decimal to two places when calculating the money $$...

***PYTHON PLEASE*** I'd also like to use decimal to two places when calculating the money $$ values for budget and fee areas. Thank you! -------------------------------------------------------- Create a Park class. Include the following seven data members: Name of Park Location Type of Park (National, State or Local) Fee Number of Employees Number of visitors reported for the past 12 months Annual Budget Write your __init__ class In addition write four separate instance methods that: Return a string containing the name of...

Use the Dynamic Exhibit to answer the following questions. Round your answers to two decimal places,...

Use the Dynamic Exhibit to answer the following questions. Round your answers to two decimal places, if necessary. 1. When the number of units produced is 50,000, the total fixed cost is $ 500,000 and the cost per unit is $ . 2. When the number of units produced is 100,000, the total fixed cost is $ and the cost per unit is $ . 3. When the number of units produced is 150,000, the total fixed cost is $...

Round answers to 5 decimal places. Suppose there are two consumers, A and B, and two...

Round answers to 5 decimal places. Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 3 units of good X and 7 units of goodY. Consumer B is given an initial endowment of 8 units of good X and 5 units of good Y. ConsumerA’s utility function is given by:UA(X, Y) =X^1/2 Y^1/2 and Consumer B’s utility function is given byUB(X, Y) =X^1/5 Y^4/5. Therefore, the marginal...

ROUND TO ZERO DECIMAL PLACES. THANK YOU! Current Proposed Sales 2,000,000 % change in sales 0.015...

ROUND TO ZERO DECIMAL PLACES. THANK YOU! Current Proposed Sales 2,000,000 % change in sales 0.015 Cost of capital 0.05 Credit terms 30 60 Bad debt 0.03 0.05 1. What are the sales under the new policy? 2. What is the change in sales under the new policy? 3. What is the current accounts receivable balance? 4. What is the accounts receivable balance under the proposed policy?

Determine the pH (to two decimal places) of the following solutions. If the 5% approximation is...

Determine the pH (to two decimal places) of the following solutions. If the 5% approximation is valid, use the assumption to compute pH. 8.72×10-3 M sodium hydrogen sulfate pKa hydrogen sulfate ion is 1.92 8.73×10-3 M trifluoroacetic acid pKa trifluoroacetic acid is 0.20 8.20×10-3 M ethylamine pKa ethylammonium ion is 10.87 2.51×10-1 M sodium nitrite pKa nitrous acid is 3.37

Question

Prime cost worksheet (figure %, cost & sales to two decimal places) Open and use the...

Solutions

Expert Solution

Related Solutions