Superior Company has the following cost and expense data for the year ending December 31, 2017.

Instructions

FunKids Sdn Bhd produces a type of toy which is sold for RM120 per unit. The normal annual production and sales for the toys are 2,800 units, although the company has the capacity to produce up to 3,000 units.

The following data consist of costs incurred during the year ended 2019:

RM
Material (100% variable) 70,000
Labour (70% variable) 80,000
Selling expenses (40% variable) 58,000
Fixed administrative expenses 50,000

The management accountant of the company is proposing the following alternatives to increase sales for the year 2020 and to reduce the idle capacity:

1. Reducing the selling price to RM110 per unit which would lead to an estimated increase in the sales volume by 30%.
2. An increase in sales would result in an increase of variable labour cost per unit by 15%.
3. Fixed selling expenses is also expected to increase to RM32,500 due to an aggressive advertising and marketing campaign planned to boost sales.

Required:

a) Determine the following costs in year 2019:
i. Total variable costs per unit.                                                                       
ii. Total fixed costs.                                                                                       

b) Calculate the following in year 2019:
i. Break-even points in units and in value.                                                      
ii. Margin of safety in units and in value.                                                         
iii. The expected sales value if the company targets for a profit of RM100,000.


c) Advice the management of FunKids Sdn Bhd if the company should implement the proposed alternative for year 2020. (Show profit comparison).                            
(Total: 25 Marks)


Question 2 (Answer)
total variable cost
Material cost =100% variable
Labor cost
selling expenses
fixed administrative expenses
total variable cost per unit

Break even point in units
Break even point in sales
contribution margin ratio

Margin of safety

expected sales value for 100000 profit

Proposed plan
selling price
selling units
variable cost
fixed cost
Income statement
sales
variable cost

Cost Behavior Analysis in a Restaurant: High-Low Cost Estimation
Assume a Potbelly’s restaurant has the following information available regarding costs at representative levels of monthly sales (meals served):

(a) Identify each cost as being variable, fixed, or mixed.

(b) Use the high-low method to develop a schedule identifying the amount of each cost that is mixed or variable per unit. Total the amounts under each category to develop an equation for total monthly costs.

Round variable cost answers to two decimal places.

* where X = Unit sales

(c) Predict total costs for a monthly sales volume of 8,500 units.

The S&OP team at Kansas Furniture, has received estimates of demand requirements as shown in the table. Assuming one-time stockout costs for lost sales of

$125125

per unit, inventory carrying costs of

$2525

per unit per month, and zero beginning and ending inventory, evaluate the following plan on an incremental cost basis:Plan B: Vary the workforce to produce the prior month's demand. The firm produced

1 comma 3001,300

units in June. The cost of hiring additional workers is

$3030

per unit produced. The cost of layoffs is

$6060

per unit cut back.

(Enter

all responses as whole numbers.) Note: Both hiring and layoff costs are incurred in the month of the change (i.e., going from production of

1 comma 3001,300

in July to

10001000

in August requires a layoff (and related costs) of

300300

units in August).

The total hiring cost =

$24,00024,000.

(Enter your response as a whole number.)The total layoff cost =

$18,00018,000.

(Enter your response as a whole number.)The total inventory carrying cost =

$10,00010,000.

(Enter your response as a whole number.)The total stockout cost =

$62,50062,500.

(Enter your response as a whole number.)The total cost, excluding normal time labor costs, for Plan B =

$114,500114,500.

(Enter your response as a whole number.)

Question is complete. Tap on the red indicators to see incorrect answers.

Cortez Company is planning to introduce a new product that will sell for $107 per unit. The following manufacturing cost estimates have been made on 20,000 units to be produced the first year: Direct materials $ 800,000 Direct labor 640,000 (= $16 per hour × 40,000 hours) Manufacturing overhead costs have not yet been estimated for the new product, but monthly data on total production and overhead costs for the past 24 months have been analyzed using simple linear regression. The following results were derived from the simple regression and provide the basis for overhead cost estimates for the new product. Simple Regression Analysis Results Dependent variable—Factory overhead costs Independent variable—Direct labor-hours Computed values Intercept $ 110,000 Coefficient on independent variable $ 5.00 Coefficient of correlation .916 R2 .839 Required: a. What percentage of the variation in overhead costs is explained by the independent variable? 83.90% 92.30% 100.70% 75.50% None of the above b. What is the total overhead cost for an estimated activity level of 60,000 direct labor-hours? $410,000 $420,000 $400,000 $430,000 None of the above c. How much is the variable manufacturing cost per unit, using the variable overhead estimated by the regression (assuming that direct materials and direct labor are variable costs)? $82.00 $90.00 $98.00 $74.00 None of the above d. What is the expected contribution margin per unit to be earned during the first year on 20,000 units of the new product? (Assume that all marketing and administrative costs are fixed.) $25.00 $28.00 $30.00 $23.00 None of the above e. What is the manufacturing cost equation implied by these results? Total cost = $640,000 + ($5.00 × Number of units) Total cost = $110,000 + ($107.00 × Number of units) Total cost = $110,000 + ($16.00 × Number of units) None of the above Next Visit question mapQuestion 3 of 5 Total3 of 5

Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold and Income Statement;

this ie the jouranl entries

Pre-determined manufacturing overhead rate = Total estimated manufacturing overheads / Estimated direct labor hours = = $3600/12 hours = $300 per direct labor hour

Step 2:

Step 3:

Step 4:

answering these questions :

Three years ago, Vincent Chow completed his college degree. The economy was in a depressed

state at the time, and Vincent managed to get an offer of only $25,000 per year as a bookkeeper. In

addition to its relatively low pay, this job had limited advancement potential. Since Vincent was an

enterprising and ambitious young man, he instead started a business of his own. He was convinced

that because of changing lifestyles, a drive-through coffee establishment would be profitable. He

was able to obtain backing from his parents to open such an establishment close to the industrial

park area in town. Vincent named his business The Cappuccino Express and decided to sell only

two types of coffee: cappuccino and decaffeinated.

As Vincent had expected, The Cappuccino Express was very well received. Within three

years, Vincent had added another outlet north of town. He left the day-to-day management of each

site to a manager and turned his attention toward overseeing the entire enterprise. He also hired an

assistant to do the record keeping and other selected chores.

REQUIRED

a. Develop an organization chart for The Cappuccino Express.

b. What factors can be expected to have a major impact on the success of The Cappuccino

Express?

c. What major tasks must Vincent undertake in managing The Cappuccino Express?

d. What are the major costs of operating The Cappuccino Express?

e. Vincent would like to monitor the performance of each site manager. What measure(s) of

performance should he use?

f. If you suggested more than one measure, which of these should Vincent select if he could use

only one?

g. Suppose that last year, the original site had yielded total revenues of $146,000, total costs

of $122,000, and hence, a profit of $24,000. Vincent had judged this profit performance to

be satisfactory. For the coming year, Vincent expects that due to factors such as increased

name recognition and demographic changes, the total revenues will increase by 20 percent to

$175,200. What amount of profit should he expect from the site? Discuss the issues involved

in developing an estimate of profit.

Python Programming- 9.12 S80 MT Practice 2

"""
Enhance your simple food receipt
a. Ask the user for inputs about two food items using the following prompts in turn [add a space after each
question mark]. Do not forget to assign each user
entry to a unique variable name (do not display the Note to add a space just use print() to add a space between each
set of input statements):
Name 1? [add a space after the question mark]
Price 1? [add a space after the question mark]
Quantity 1? [add a space after the question mark]
[Note: add space here using print()]
Name 2? [add a space after the question mark]
Price 2? [add a space after the question mark]
Quantity 2? [add a space after the question mark]
[Note: add space here using print()]
Name 3? [add a space after the question mark]
Price 3? [add a space after the question mark]
Quantity 3? [add a space after the question mark]
[Note: add space here using print()]
b. Convert the price and quantity variables to floats
c. Calculate the total cost for the order by calculating each item's total price by
multiplying price and quantity for each item and then adding up the total prices for the three items
d. Calculate the total cost plus tax for the order by multiplying the total cose calculated in c by the tax
rate of .0545 (5.45 percent tax) then adding the tax to the total cost
e. Display the results using the structure below. Edit the format string "${:,.2f}".format(identfier) to format the
results of your calculation as currency with the NTD currency type, a space between NTD and the calculated costs,
and 3 decimal places:
Summary of Charges
You ordered: [Item Name 1] [Item Name 2] [Item Name 3]
Your cost: [total price for all items calculated in 3c above, formatted with NTD currency, a space & 3 decimal places]
Your cost w tax: [total cost plus tax calculated in 3d above, formatted with NTD currency, a space & 3 decimal places]

"""
#Start your code below