I got the read-ahead package from the project staff. And I have a few questions.
Q#1 (100 points) This table shows some of the info for the week.
20 sample M923’s were produced. It looks like the parts are in some kind of multiple per unit.
The first section shows the quantity of each part and the total cost. But doesn’t anybody think that I’d be interested in knowing the price for the part?
And I see the direct labor hours and the cost for those labor hours. But what is the average cost per dlh?
Same with overhead? I see that overhead is being driven by direct labor hours. And I can see the total cost for OH. But what is the OH rate?
|
In: Operations Management
Tidewater Company uses the product cost concept of applying the cost-plus approach to product pricing. The cost and expenses of producing and selling 50,000 units of Product K are as follows:
| Variable costs: | |
| Direct materials | $5.00 |
| Direct labor | 8.50 |
| Factory overhead | 2.50 |
| Selling and administrative expenses | 1.00 |
| Total | $17.00 |
| Fixed costs: | |
| Factory overhead | $50,000 |
| Selling and administrative expenses | 34,000 |
Tidewater desires a profit equal to a 10% rate of return on invested assets of $1,285,000.
a. Determine the amount of desired profit from
the production and sale of Product K.
$ 128,500
b. Determine the total manufacturing costs and the cost amount per unit for the production and sale of 50,000 units of Product K.
| Total manufacturing costs | $850,000 |
| Cost amount per unit | $17 |
c. Determine the markup percentage for Product
K.
%
d. Determine the selling price of Product K.
Round your answer to two decimal places.
$21.25
I'm having trouble with C.
In: Accounting
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow.
|
Units |
Total |
Total |
Total Machine |
|---|---|---|---|
|
Produced |
Lumber Cost |
Utilities Cost |
Depreciation Cost |
| 4,000 shelves | $48,000 | $5,600 | $130,000 |
| 8,000 shelves | $96,000 | $10,200 | $130,000 |
| 16,000 shelves | $192,000 | $19,400 | $130,000 |
| 20,000 shelves | $240,000 | $24,000 | $130,000 |
For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N= Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers.
| Cost | Fixed Portion of Cost | Variable Portion of Cost (per Unit) |
| Lumber | ||
| Utilities | ||
| Depreciation |
Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow.
|
Month |
Number of Units Produced |
Total Cost |
|---|---|---|
| January | 4,360 | $65,600 |
| February | 225 | $6,250 |
| March | 1,000 | $15,000 |
| April | 5,475 | $111,250 |
| May | 1,750 | $32,500 |
| June | 3,015 | $48,000 |
1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) +
Fixed Cost. Complete the following table.
| Total Fixed Cost |
Variable Cost per Unit |
| $ | $ |
With your Total Fixed Cost and Variable Cost per Unit from the High-Low Method, compute the total cost for the following values of N (Number of Units Produced).
| Number of Units Produced | Total Costs |
| 3,500 | $ |
| 4,360 | $ |
| 5,475 | $ |
Review the contribution margin income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statements panels. Complete the following table from the data provided in the income statements. Each company sold 84,800 units during the year.
| Cover-to-Cover Company | Biblio Files Company | |
| Contribution margin ratio (percent) | ||
| Unit contribution margin | ||
| Break-even sales (units) | ||
| Break-even sales (dollars) |
|
Cover-to-Cover Company |
|
Contribution Margin Income Statement |
|
For the Year Ended December 31 |
|
1 |
Sales |
$424,000.00 |
||
|
2 |
Variable costs: |
|||
|
3 |
Manufacturing |
$233,200.00 |
||
|
4 |
Selling |
21,200.00 |
||
|
5 |
Administrative |
63,600.00 |
318,000.00 |
|
|
6 |
Contribution margin |
106,000.00 |
||
|
7 |
Fixed Costs: |
|||
|
8 |
Manufacturing |
$5,000.00 |
||
|
9 |
Selling |
4,000.00 |
||
|
10 |
Administrative |
33,400.00 |
42,400.00 |
|
|
11 |
Income from operations |
$63,600.00 |
|
Biblio Files Company |
|
Contribution Margin Income Statement |
|
For the Year Ended December 31 |
|
1 |
Sales |
$424,000.00 |
||
|
2 |
Variable costs: |
|||
|
3 |
Manufacturing |
$169,600.00 |
||
|
4 |
Selling |
16,960.00 |
||
|
5 |
Administrative |
67,840.00 |
254,400.00 |
|
|
6 |
Contribution margin |
169,600.00 |
||
|
7 |
Fixed Costs: |
|||
|
8 |
Manufacturing |
$88,000.00 |
||
|
9 |
Selling |
8,000.00 |
||
|
10 |
Administrative |
10,000.00 |
106,000.00 |
|
|
11 |
Income from operations |
$63,600.00 |
Biblio Files Company is making plans for its next fiscal year, and decides to sell two new types of bookshelves, Basic and Deluxe. The company has compiled the following estimates for the new product offerings.
|
Type of Bookshelf |
Sales Price per Unit |
Variable Cost per Unit |
|---|---|---|
| Basic | $5.00 | $1.75 |
| Deluxe | $9.00 | $8.10 |
The company is interested in determining how many of each type of bookshelf would have to be sold in order to break even. If we think of the Basic and Deluxe products as components of one overall enterprise product called “Combined,” the unit contribution margin for the Combined product would be $2.31. Fixed costs for the upcoming year are estimated at $346,962. Recall that the totals of all the sales mix percents must be 100%. Determine the amounts to complete the following table.
| Type of Bookshelf | Percent of Sales Mix | Break-Even Sales in Units | Break-Even Sales in Dollars |
| Basic | % | $ | |
| Deluxe | % | $ |
Refer again to the income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statement panels. Note that both companies have the same sales and net income. Answer questions (1) - (3) that follow, assuming that all data for the coming year is the same as the current year, except for the amount of sales. If required, round answers to the nearest dollar.
1. If Cover-to-Cover Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be? $
2. If Biblio Files Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be? $
In: Accounting
For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model is 200 units, and the total annual inventory (carrying and setup) cost is $600. What is the inventory carrying cost per unit per year for this item?
In: Operations Management
A corporation has a total capital of $10,000,000 by issuing shares of stock worth $6,000,000, and by floating bonds worth $4,000,000. If the cost of debt is 8% and cost of equity is 14%, what is the weighted average cost of capital in the absence of corporate tax.
In: Finance
Define the following costs terms and explain their behavior in relation to production on a per unit and total basis and give a specific example for each one.
1. Variable cost
2. Fixed cost
3. Mixed cost
Help me ~~
In: Accounting
Millner Corporation has provided the following data from its activity-based costing accounting system:Millner Corporation has provided the following data from its activity-based costing accounting system:
ACTIVITY COST POOLS TOTAL COST TOTAL ACTIVITY
DESIGNING PRODUCTS $1,372,4478 7,798 PRODUCT DESIGN HOURS
SETTING UP BATCHES 33,300 740 BATCH SET UP
ASSEMBLING PRODUCTS 126,160 6,640 ASSEBLY HOURS
The activity rate for the "designing products" activity cost pool is closest to
In: Accounting
Assume a profit maximizing monopolist faces the following demand, marginal revenue and cost functions: Demand: P = 400 - 50Q Total Cost: TC = 100Q Marginal cost MC = 100 Marginal Revenue MR = 400 – 100Q
a) Find the profit maximizing output level for the monopolist.
b) At this level of output what price will the monopolist charge?
c) What is the total profit for the monopolist?
d) If the monopolist were a revenue maximizer instead of a profit maximizer, what would be the output level to maximize revenue?
In: Economics
The following table shows the daily relationship between the number of workers and output (Q) for a small factory in the short run, with capital held constant. Each worker costs $200 per day, and the firm has fixed costs of $100 per day. Calculate total cost (TC), marginal cost (MC), and average total cost (ATC). (Round your answers to two decimal places.)
WORKERS Q TC MC ATC
1 20 ? ? ?
2 44 ? ? ?
3 70 ? ? ?
4 91 ? ? ?
5 100 ? ? ?
In: Economics
4. Create a program that takes in the following CMD arguments: Item name, quantity, cost per item, and total cost. Your task then is to take this given information to print a simple receipt as indicated below (Don’t worry about the calculations for now.)
1
Sample run 1:
Java lab01_task04 Banana 6 3.25 19.50
Output:
Welcome to FCI Fresh Goods
Sales
======================
You have purchased:
6 X Banana @ N$ 3.25
including 15% VAT
======================
Total Cost: N$ 19.50
======================
In: Computer Science