The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.

Exercise 16-12 Weighted average: Completing a process cost summary LO C3

Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

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The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.

Exercise 16-12 Weighted average: Completing a process cost summary LO C3

Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.

Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.
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Raw material purchases

Relevant Range and Fixed and Variable Costs

Child Play Inc. manufactures electronic toys within a relevant range of 72,000 to 114,000 toys per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:

Complete the cost schedule below. When computing the cost per unit, round to two decimal places. Round all other values to the nearest dollar.

Relevant Range and Fixed and Variable Costs

Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 128,000 to 200,000 memory chips per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:

Complete the cost schedule below. When computing the cost per unit, round to two decimal places. Round all other values to the nearest dollar.

find the values missing from the table below, and then create two (2) graphs for an individual price-taking firm that produces t-shirts, utilizing both the Marginal Revenue/Marginal Cost approach and the Total Revenue/Total Cost approach.

The graphs should depict the effect of a change in consumer demographics that increases demand for hairnets and increases the market price to $24.

1. Create a graph (Graph 1) showing the starting conditions using the Marginal Revenue/Marginal Cost approach; correctly label all axes, curves, points, prices, and quantities.

• This graph must include curves for marginal cost, average total cost, average variable cost, demand, and marginal revenue.
• Do NOT include curves for total revenue, total cost, or total variable cost on this graph.

2. Create a graph (Graph 2) next to your first graph showing the starting conditions using the Total Revenue/Total Cost approach; correctly label all axes, curves, points, prices, and quantities.

• This graph must include curves for total cost and total revenue.
• Do NOT include curves for marginal cost, average total cost, average variable cost, demand, or marginal revenue on this graph.

3. Calculate and indicate on Graph 1 the firm’s economic profit/loss at the original profit-maximizing quantity and market price using the Marginal Revenue/Marginal Cost Approach.

• Ensure you clearly indicate the original profit-maximizing (or loss-minimizing) quantity and market price on your graph.

4. Calculate and indicate on Graph 2 the firm’s economic profit/loss at the original profit-maximizing quantity and market price using the Total Revenue/Total Cost approach.

• Ensure you clearly indicate the original profit-maximizing (or loss-minimizing) quantity and initial Total Revenue and Total Cost at that quantity.

5. On Graph 1, shift the relevant curve(s) from the change in consumer demographics.

• Ensure you clearly label which curve(s) is/are the original and which curve(s) are new.

6. On Graph 2, shift the relevant curve(s) from the change in consumer demographics.

• Ensure you clearly label which curve(s) is/are the original and which curve(s) are new.

7. Calculate and indicate on Graph 1 the firm’s economic profit/loss at the new profit-maximizing quantity and market price.

• Ensure you clearly indicate the new profit-maximizing (or loss-minimizing) quantity and market price on your graph.

8. Calculate and indicate on Graph 2 the firm’s economic profit/loss at the new profit-maximizing quantity and market price using the Total Revenue/Total Cost approach.

• Ensure you clearly indicate the new profit-maximizing (or loss-minimizing) quantity and new Total Revenue and/or Total Cost at that quantity.

find the values missing from the table below, and then create two (2) graphs for an individual price-taking firm that produces t-shirts, utilizing both the Marginal Revenue/Marginal Cost approach and the Total Revenue/Total Cost approach.

The graphs should depict the effect of a change in consumer demographics that increases demand for hairnets and increases the market price to $24.

1. Create a graph (Graph 1) showing the starting conditions using the Marginal Revenue/Marginal Cost approach; correctly label all axes, curves, points, prices, and quantities.

• This graph must include curves for marginal cost, average total cost, average variable cost, demand, and marginal revenue.
• Do NOT include curves for total revenue, total cost, or total variable cost on this graph.

2. Create a graph (Graph 2) next to your first graph showing the starting conditions using the Total Revenue/Total Cost approach; correctly label all axes, curves, points, prices, and quantities.

• This graph must include curves for total cost and total revenue.
• Do NOT include curves for marginal cost, average total cost, average variable cost, demand, or marginal revenue on this graph.

3. Calculate and indicate on Graph 1 the firm’s economic profit/loss at the original profit-maximizing quantity and market price using the Marginal Revenue/Marginal Cost Approach.

• Ensure you clearly indicate the original profit-maximizing (or loss-minimizing) quantity and market price on your graph.

4. Calculate and indicate on Graph 2 the firm’s economic profit/loss at the original profit-maximizing quantity and market price using the Total Revenue/Total Cost approach.

• Ensure you clearly indicate the original profit-maximizing (or loss-minimizing) quantity and initial Total Revenue and Total Cost at that quantity.

5. On Graph 1, shift the relevant curve(s) from the change in consumer demographics.

• Ensure you clearly label which curve(s) is/are the original and which curve(s) are new.

6. On Graph 2, shift the relevant curve(s) from the change in consumer demographics.

• Ensure you clearly label which curve(s) is/are the original and which curve(s) are new.

7. Calculate and indicate on Graph 1 the firm’s economic profit/loss at the new profit-maximizing quantity and market price.

• Ensure you clearly indicate the new profit-maximizing (or loss-minimizing) quantity and market price on your graph.

8. Calculate and indicate on Graph 2 the firm’s economic profit/loss at the new profit-maximizing quantity and market price using the Total Revenue/Total Cost approach.

• Ensure you clearly indicate the new profit-maximizing (or loss-minimizing) quantity and new Total Revenue and/or Total Cost at that quantity.