18- Given the historical cost of product Z is $150, the selling price of product Z is $ 210, costs to sell product Z are $21.and the cost to complete product Z is $30, what is the net realizable value that should be used in the lower-of-cost-or-net realizable value comparison?20030827a) $150..$160.C)0(d) $169.e)$139.

LCNRV stands for Lower of cost or Net realizable Value method which is used to determine the value…

Answered: 8- Given the historical cost of product…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Q. 12. The markup percent is based on cost. Compute the missing terms. 100% + Markup Percent 50% Markup % Cost Selling Price $636
37 7 nces Mc Graw Hill E4-20 (Algo) Calculating Target Cost [LO 4-8] Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to introduce a new product with the following estimates: Estimated market price Annual demand Life cycle Target profit Required: $ 1,300 87,000 1. Target Cost 2. Target Cost 3. Target Cost units years 7 29 percentage return on sales. 1. Compute the target cost of this product. 2. Compute the target cost if Majesty wants a 42 percent return on sales. 3. Compute the target cost if Majesty wants a 11 percent return on sales.
2.9 Company X and Company Y sells the same product for the same price. Company X has fixed costs of Birr 100 and variable costs of Birr 10 per unit. Company Y has fixed costs of Birr 200 and variable costs of Birr8. What is the unit sales price at which these companies will have the same break-even point in terms of unit sales?
If, Total Fixed cost OMR 32000, Selling price per unit OMR 20, and Variable cost per unit OMR 12. What will be the Margin of safety and profit if actual sales are OMR 85000? Select one: O a. None of the options O b. Margin of Safety OMR 5000, Profit OMR 2000 c. Margin of Safety OMR 10000, Profit OMR 4000 O d. Margin of Safety OMR 26667, Profit OMR 16000
use 26 as reference for 27
h7
Q.3.5 Complete the following table by filling in the missing amounts: (6) Mark-up on Cost Price Profit Selling Price Cost (excluding VAT) (excluding VAT) (excluding VAT) 25% 1 000 100% 6 000 1 500 2 500
Holding other factors constant, a company's contribution margin per unit will increase with: O a. any decrease in quantity sold. O b. increase in its total fixed costs c. O c. any decrease in the selling price per unit O d. any increase in variable cost per unit O e. None answers given are correct. 14:0 nere to search W A a 10) ENG 15-04-2 prt sc delete home end $ 96 & 6. num 8. + backspace lock V E T P home D F J K enter pause C 1 shift end alt ctrl
Total Fixed cost OMR 25000, Selling Price per unit OMR 20, and Variable cost per unit OMR 12, What will be the Quantity (units) of sales if it is desired to earn a profit of OMR 18000 Select one: O a. 3125 Units O b. 10000 Units O c. 2083.33 Units O d. 1000 Units
PROBLEM 8. The Color Company manufactures and sells two products. The selling prices and variable costs of the products are as follows: Blujets Blupens P20 Selling prices Variable costs P40 8 24 The sales for 2021 were in the ratio of 3 Blujets to 1 Blupen. Sales volume for 2021 was P1 million. Fixed costs for 2020 amounted to P390,000. Requirements: 4. If the sales mix was to change to 2 units of blujets to 1 unit of Blupen, would this have any effect on the breakeven sales? If so, what would be the new breakeven sales? 5. Assuming that the sales volume would remain at P1 million, what net income would be generated using the sales mix in number (4) above? 6. What sales revenue would be required if the firm wishes to generate a net income of P328,900 if the original mix of 3:1 prevailed?
Problem 13-2 (Algo) Expected value and standard deviation [LO13-1] Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given next: Possible Market Reaction Low response Moderate response High response Very high response Expected value a. What is the expected value of unit sales for the new product? Note: Do not round intermediate calculations and round your answer to the nearest whole unit. Sales in Units 25 40 55 60 33 units Standard deviation Probabilities 0.20 0.30 0.20 0.30 b. What is the standard deviation of unit sales? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. 19.77 units
EA5. LO 2.2Rose Company has a relevant range of production between 10,000 and 25,000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?

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