Which assumed inventory cost flow method:

1. usually parallels the actual physical flow of merchandise?
2. divides cost of goods available for sale by total units available for sale to determine a unit cost?
3. assumes that the latest units purchased are the first to be sold?

Fine Oak Furniture manufactures high-quality wooden desks and uses a standard cost system. A standard cost card for one model of desk, the “heritage”, developed for 2019, is shown below:

The company expected to produce and sell 300 units of the Heritage in March 2019.

Actual results for March 2019 are as follows:

• 310 units of the Heritage were produced.
• A total of 20,600 BF of wood was purchased and used at a cost of $9,990.
• Actual direct labour costs were $6,918 for 393 direct labour hours worked.
• Actual variable overhead incurred was $1,701 and actual fixed overhead incurred was $2,197.

Required:

Calculate the following variances and provide only numeric values without any formatting to the boxes given below. Be sure to indicate whether the variances are favourable or unfavourable as instructed. Round to the 4th decimal places for interim numbers, and round to the 2nd decimal places for final results.

12-A2 Customer Profitability

The following table gives sales, product cost, and cost-to-serve data for a company that makes three product lines: A, B, and C. The company has two customer types.

The cost to serve all customers is $12,000 and is allocated to customer types based on the number of manager visits to customer locations for pre- and post-sales support.
1. Determine the gross profit margin percentage of sales for each product. Which product is the most profitable?
2. Determine the gross profit margin and the gross profit margin percentage of sales for each customer type.
3. Determine the cost-to-serve percentage of sales for each customer type.

4. Determine the operating income and operating income percentage of sales for each customer type.

5. Which customer is the most profitable based the following profitability measures:

a. Grossmargin

b. Gross margin percentage of sales

c. Operating income

d. Operating income percentage of sales

Cost-Volume-Profit Analysis: Analyze cost behavior in relation to changes in volume. Define contribution margin and its use in computing operating income. Discuss cost-volume-profit (CVP) analysis and how it is used as a decision too.

1. The Advanced Tech Company has a project to design an integrated information database for a major bank. Data for the project are given in the Table. Indirect project costs amount to $300 per day. The company will incur a $150 per day penalty for each day the project lasts beyond day 14. What would be the least cost to achieve this desired result?

Please complete in excel and not in a notebook.

Cost $75,000; Salvage value: $10,000; Useful life: 10 Calculate annual depreciation on this machi... Cost $80,000; Salvage value: $10,000; Useful life: 10 Calculate annual depreciation on this machinery using doublr-declining balance method. Be careful not to exceed the salvage value. If the salvage value is zero, switch to straightline in the year when straight-line yields higher depreciation. (use the remaining valye as the starting point when you change)

Assume Domino's Pizza has the following monthly revenue and cost functions:

Total Revenue= $10.00x Total Cost= $16000+$4.00x

a. Prepare a graph illistrating Domino's cost-volume-profit relationship. The vertical axis should range from $0 to $72,000, in increments os $12,000. The horizontal axis should range from 0 units to 6,000 units, in increments of 2,000 units.

b. Prepare a graph illustrating Domino's profit-volume relationship. The horizontal axis should range from 0 units to 6,000 units, in increments of 2,000 units.

c. When is it most appropriate to use a profit-volume graph?

Problem 2-23A Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO2-6] Superior Company provided the following account balances for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 219,000 Purchases of raw materials $ 266,000 Direct labor ? Administrative expenses $ 158,000 Manufacturing overhead applied to work in process $ 332,000 Total actual manufacturing overhead costs $ 354,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 56,000 $ 37,000 Work in process ? $ 26,000 Finished goods $ 34,000 ? The total manufacturing costs for the year were $690,000; the cost of goods available for sale totaled $745,000; the unadjusted cost of goods sold totaled $664,000; and the net operating income was $34,000. The company’s overapplied or underapplied overhead is closed entirely to Cost of Goods Sold. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Required: a. Prepare a schedule of cost of goods manufactured. b. Prepare a schedule of cost of goods sold. c. Prepare an income statement for the year.