The following is the monthly costs of one of the RAMLEE Burger kiosks: Cost Fixed costs...

The following is the monthly costs of one of the RAMLEE Burger kiosks:

*Cost*	*Fixed costs* *(RM)*	*Variable cost per unit* *(RM)*
Bread and meat	0	1.50
Vegetables	0	0.80
Salaries	1,500	0.20
Utilities	40	0.30
Rental	500	0

Required:

(a) Explain the difference between static and flexible budget.

(b) Prepare a flexible budget for production volume of 2,000 and 2,200 burgers.(7 marks)

(c) Prepare the performance report for June 2019 based on the following actual costs incurred for 2,200 burgers.

*Cost*	*Costs (RM)*
Bread and meat	3,300
Vegetables	1,800
Salaries	1,940
Utilities	1,600
Rental	500

(d) Based on the performance report, discuss the performance of the kiosk for the month of June 2019.

Expert Solution

ekkarill92 answered 1 year ago

1. Which of the following costs is typically not a fixed overhead cost for a factory?...

1. Which of the following costs is typically not a fixed overhead cost for a factory? A.Salaries of factory supervisors. B.Rent on the factory building. Property taxes on the factory building. C.Indirect materials used in production. D. None of the answer choices is correct. 2.Which of the following costs does not change in total when the activity level increases or decreases within the relevant range? A.mixed costs B.fixed cost C.variable costs D.relevant costs E.None of the answer choices is correct....

Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost Fixed Costs ATC Average Fixed Costs Average...

Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost Fixed Costs ATC Average Fixed Costs Average Variable Costs 0 0 - 10 - 10 - - - 1 8 24 14 24 2 16 34 10 17 3 24 42 8 14 4 32 49 7 12.25 5 40 57 8 11.4 6 48 67 10 11.17 7 56 81 14 11.57 8 64 99 18 12.38 9 72 123 24 13.67 1b. At a price of $14, what is...

2. Describe a fixed cost, variable cost. Explain why the variable and fixed costs are important...

2. Describe a fixed cost, variable cost. Explain why the variable and fixed costs are important in cost accounting. Give your opinion

1. The monthly cost of heating our company office is a fixed cost, a CEO says,...

1. The monthly cost of heating our company office is a fixed cost, a CEO says, "because we adjust the thermostat according to the weather conditions which are beyond our control." Do you agree? Is this a variable cost? Explain your ground concisely. 2. At Q company, the annual depreciation expenses for the production equipment are computed under an accelerated depreciation method, resulting in annually changing depreciation amounts. with respect to the production volume, the depreciation amount total level is...

Assume that a radiologist group practice has the following cost structure: Fixed costs $500,000 Variable cost...

Assume that a radiologist group practice has the following cost structure: Fixed costs $500,000 Variable cost per procedure 25 Charge (revenue) per procedure 100 Furthermore, assume that the group expects to perform 7,500 proce- dures in the coming year. a. Construct the group’s base case projected P&L statement. b. part 1 - What is the group’s contribution margin? b. - part 2 - What is its breakeven point? c. part 1 - What volume is required to provide a pretax...

5.3 Assume that a radiologist group has the following cost structure: Fixed costs $500,000 Variable cost...

5.3 Assume that a radiologist group has the following cost structure: Fixed costs $500,000 Variable cost per procedure $25 Charge(revenue) per procedure $100 Furthermore, assume that the group expects to perform 7,500 procedures in the coming year. a. Construct the group's base case projected P & L statement. b. What is the group's contribution margin? What is the breakeven point? c. What volume is required to provide a pretax profit of $100,000? A pretax profit of $200,000? e.Now assume that...

Assume that a radiologist group practice has the following cost structure: Fixed Costs $500,000 Variable cost...

Assume that a radiologist group practice has the following cost structure: Fixed Costs $500,000 Variable cost per procedure 25 Charge (revenue) per procedure 100 Furthermore, assume that the group expects to perform 7,500 procedures in the coming year. a. Construct the group's base case projected P&L statement Total revenues $ 750,000 Total variable costs $ (187,500) Total contribution margin $ 562,500 Fixed costs $ (500,000) Profit (net income) $ 625,000 b. What is the group's contribution margin? What is its...

From the following information on costs of production, calculate Total Fixed Cost, Total Variable Cost, Average...

From the following information on costs of production, calculate Total Fixed Cost, Total Variable Cost, Average Variable Cost, and Marginal Cost. I also need to graph the total cost curves as well as the average and marginal cost curves. TC = TFC + TVC so for Q=1 TC=30, assume TFC=20 so TVC=10 (20+10=30); continue with logic about FC, it is independent of output, so it would be an incremental 20 with each additional level of output, TVC for each Q...

Assume that a radiologist group practice has the following cost structure: Fixed costs $200,000 Variable cost...

Assume that a radiologist group practice has the following cost structure: Fixed costs $200,000 Variable cost per procedure $200 Charge (price) per procedure $400 a. What is the group’s breakeven point in volume? b. Complete the following table. (Hint: total costs= fixed costs + (variable cost per procedure x procedures) Volume (Procedures) Fixed Costs Total Costs Total Revenue 0 100 200 300 400 500 600 700 800 900 1,000 1,100 1,200 1,300 1,400 1,500 c. Sketch out a breakeven graph...

a company sells eyeglasses. The company incurs a one-time fixed cost for $250,000. Each eyeglasses costs...

a company sells eyeglasses. The company incurs a one-time fixed cost for $250,000. Each eyeglasses costs $140 to produce, and sells for $160. a. Find the cost function, C, to produce x eyeglasses, in dollars. b. Find the revenue function, R, from the sales of x eyeglasses, in dollars. c. Find the break-even point, the point of intersection of the two graphs C and R. d. What does the break even point mean? e. Is this a lucrative way to...

Question