Weighted Average Cost Flow Method Under Perpetual Inventory System

The following units of a particular item were available for sale during the calendar year:

The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5.

Forecasting labour costs is a key aspect of hotel revenue management that enables hoteliers to appropriately allocate hotel resources and fix pricing strategies. Mary, the President of Hellenic Hoteliers Federation (HHF) is interested in investigating how labour costs (variable L_COST) relate to the number of rooms in a hotel (variable Total_Rooms). Suppose that HHF has hired you as a business analyst to develop a linear model to predict hotel labour costs based on the total number of rooms per hotel using the data provided. 3.1 Use the least squares method to estimate the regression coefficients b0 and b1 3.2 State the regression equation 3.3 Plot on the same graph, the scatter diagram and the regression line 3.4 Give the interpretation of the regression coefficients b0 and b1 as well as the result of the t-test on the individual variables (assume a significance level of 5%) Determine the correlation coefficient of the two variables and provide an interpretation of its meaning in the context of this problem.Check statistically, at the 0.05 level of significance whether there is any evidence of a linear relationship between labour cost and total number of rooms per hotel

Which of the following is true regarding the production and pricing decisions of monopolistically competitive firms? Monopolistically competitive firms choose the quantity at which marginal cost equals ________ and then use the _________ curve to determine the price that is consistent with this particular quantity.
A. average total cost; demand
B. average variable cost; demand
C. average total cost; supply
D. marginal revenue; demand
E. marginal revenue; supply

14. When a firm operates in a state of excess capacity,
A. it must be operating in a monopolistically competitive market.
B. additional production would increase average total cost.
C. additional production would decrease the average total cost.
D. A and B, only
E. A and C, only
15. A monopolistically competitive firm is currently producing 15,000 units of output. At this level of output the firm is charging a price equal to $10, has marginal revenue equal to $6, has marginal cost equal to $6, and has average total cost equal to $12. From this information we can infer that
A. the firm is currently maximizing its profit or minimizing its loss.
B. the profits of the firm are equal to negative $30,000.
C. firms are likely to enter this market in the long run.
D. All of the above are correct.
E. A and B, only

A perfectly competitive firm faces a market-determined price of $30 for its product. Fill in columns and answer the question below.

The competitive firm should produce _____ units to maximize profit.

Please complete the weighted average information with the information provided. (Not all information provided may be relevant in completing the question).

Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown:

Hi-Tek produced and sold 60,000 units of B300 at a price of $20 per unit and 12,600 units of T500 at a price of $40 per unit. The company’s traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company’s two product lines is shown below:

The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek’s ABC implementation team concluded that $51,000 and $105,000 of the company’s advertising expenses could be directly traced to B300 and T500, respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company’s manufacturing overhead to four activities as shown below:

Required:

2. Compute the product margins for B300 and T500 under the activity-based costing system.

3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.

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2. Compute the product margins for B300 and T500 under the activity-based costing system. (Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places.)

3.

Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations to 2 decimal places and "Percentage" answers to 1 decimal place and other answers to the nearest whole dollar amounts.)

Consider the following hourly demand and cost schedule for a firm facing a fixed price (Tπ is Total Profit).

Complete the columns for TR, MR, TFC, TVC, TC, ATC, AVC, and MC, as well as those for (TC), TVC, & TFC. Draw the curves for Demand (Price Vs. Quantity), MR (Marginal Revenue), ATC, AVC, and MC, all in one diagram. Also draw the Total Revenue (TR), Total Cost (TC), TVC, and TFC in a second diagram right below the first one.

1. Determine, in order to maximize profit. How many units this firm should produce and explain.
2. Demonstrate the geometric areas (rectangles) of Total Revenue, Total Cost and Total Profit at the profit-maximizing level and calculate the values of each in the diagram above (and not the one below).
3. Show the Total Revenue, Total Cost and Total Profit at the profit-maximizing level in the diagram below.

I've given all the information that I have.

Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown:

Hi-Tek produced and sold 60,300 units of B300 at a price of $19 per unit and 12,600 units of T500 at a price of $40 per unit. The company’s traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company’s two product lines is shown below:

The company has created an activity-based costing system to evaluate the profitability of its products. Hi-Tek’s ABC implementation team concluded that $59,000 and $101,000 of the company’s advertising expenses could be directly traced to B300 and T500, respectively. The remainder of the selling and administrative expenses was organization-sustaining in nature. The ABC team also distributed the company’s manufacturing overhead to four activities as shown below:

Required:

1.

Compute the product margins for the B300 and T500 under the company’s traditional costing system. (Round your intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.)

2.

Compute the product margins for B300 and T500 under the activity-based costing system. (Negative product margins should be indicated by a minus sign. Round your intermediate calculations to 2 decimal places.)

3.

Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations to 2 decimal places and "Percentage" answers to 1 decimal place and and other answers to the nearest whole dollar amounts.)

Martinez Company’s relevant range of production is 9,500 units to 14,500 units. When it produces and sells 12,000 units, its unit costs are as follows:

1. 1. For financial accounting purposes, what is the total amount of product costs incurred to make 12,000 units?

2. . For financial accounting purposes, what is the total amount of period costs incurred to sell 12,000 units?

3. If 10,000 units are sold, what is the variable cost per unit sold? (Round your answer to 2 decimal places.)

4. If 12,000 units are sold, what is the variable cost per unit sold? (Round your answer to 2 decimal places.)

5. 5. If 10,000 units are sold, what is the total amount of variable costs related to the units sold?

6. If 12,000 units are sold, what is the total amount of variable costs related to the units sold?

7. If 10,000 units are produced, what is the average fixed manufacturing cost per unit produced? (Round your answer to 2 decimal places.)

8. If 12,000 units are produced, what is the average fixed manufacturing cost per unit produced? (Round your answer to 2 decimal places.)

9. If 10,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production?

10. If 12,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production?

11-a. If 10,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production?

11-b. If 10,000 units are produced, What is this total amount of manufacturing overhead cost expressed on a per unit basis? (Round your answer to 2 decimal places.)

12-a. If 12,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production?

12-b. If 12,000 units are produced, what is this total amount of manufacturing overhead cost expressed on a per unit basis? (Round your answer to 2 decimal places.)

13-a. If 10,000 units are produced, what are the total amounts of direct manufacturing costs incurred to support this level of production?

13-b. If 10,000 units are produced, what are the total amounts of indirect manufacturing costs incurred to support this level of production?

14. What total incremental cost will Martinez incur if it increases production from 12,000 to 12,001 units? (Round your answer to 2 decimal places.)

I need my answers in numbers only

Martinez Company’s relevant range of production is 7,900 units to 12,900 units. When it produces and sells 10,400 units, its unit costs are as follows: