A trucking company charges different rates for hauling goods based on the distance traveled. Let C(x) represent the cost to transport goods x miles. The company charges as follows: Cost per mile Distance in miles $5.75 0
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- Assume that the linear cost and revenue models apply. An item costs $13 to make. If fixed costs are $1600 and profits are $5700 when 100 items are made and sold, find the revenue equation. (Let x be the number of items.)R(x) =Problem 8-06 Waterway Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 2,900 $18 2/4 Purchase 3,900 26 2/20 Sale 4,400 44 4/2 Purchase 4,900 34 11/4 Sale 4,100 48 Your answer is correct. Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit 27.3675 SHOW SOLUTION LINK TO ΤΕXΤView Policies Current Attempt in Progress You have the following information for Oriole Diamonds. Oriole Diamonds uses the periodic method of accounting for its inventory transactions. Oriole only carries one brand and size of diamonds-all are identical. Each batch of diamonds purchased is carefully coded and marked with its purchase cost. March 1 Beginning inventory 177 diamonds at a cost of €362 per diamond. March 3 Purchased 236 diamonds at a cost of €413 each. March 5 Sold 220 diamonds for €708 each. March 10 Purchased 413 diamonds at a cost of €456 each. March 25 Sold 472 diamonds for €767 each. (a) Assume that Oriole Diamonds uses the specific identification cost flow method. (1) Demonstrate how Oriole Diamonds could maximize its gross profit for the month by specifically selecting which diamonds to s To maximize gross profit, Oriole Diamonds should sell the diamonds with the Demonstrate how Oriole Diamonds could minimize its gross profit for the month by selecting which diamonds…
- Using $3,040,000 as the cost of goods manufactured, compute the cost of goods sold using the following information.You have the following information for Wildhorse Gems. Wildhorse uses the periodic system of accounting for its inventory transactions. Wildhorse only carries one brand and size of diamonds-all are identical. Each batch of diamonds purchased is carefully coded and marked with its purchase cost. March 1 March 31 March 5: March 10- March 25 Beginning inventory 150 diamonds at a cost of $320 per diamond. Purchased 200 diamonds at a cost of $360 each. Sold 180 diamonds for $630 each. Purchased 350 diamonds at a cost of $385 each. Sold 395 diamonds for $680 each.Crane Manufacturing Ltd. has provided you with the following CVP income statement. Sales (1,460 units) Variable costs: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed costs: Cost of goods sold Selling expenses Administrative expenses Operating income $1,022,000 454,060 81,760 67,160 419, 20 153,300 52,560 33,580 $179,580 a. Calculate the contribution margin ratio. b. Calculate the break-even point in sales dollars and number of units.
- (b) Prove the cost of goods sold calculations. (Round the weighted average cost per unit to 2 decimal places, e.g. 52.75 and other answers to O decimal places, e.g. 5,275.) Check of Cost of Goods Sold (FIFO): Apr. 1 Apr. 12 Weighted Average Units Check of Cost of Goods Sold: $ Unit Cost units x $ $ $ Total Cost per unit = $Please give detailed explanations and show calculations on how you got your answer. -I just need part (b)! thank you! Correct answer please
- Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which will affect the actual cost of asset being sold for the buyer and the seller. Consider this case: Green Moose Industries buys most of its raw materials from a single supplier. This supplier sells to Green Moose on terms of 1/10, net 30. The cost per period of the trade credit extended to Green Moose is ________(1.23%, 0.89%, 1.01%, 1.05%) (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.). Green Moose’s trade credit has a nominal annual cost of _______ (22.85%, 19.17%, 16.59%, 18.43%) , assuming a 365-day year. (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) If Green Moose Industries’s supplier shortens its discount period to five days, this will _______ (Increase, Decrease) the cost of the trade credit.Freight costs are also known as freight charges or freight rates. It is the amount paid to a carrier company for the transportation of goods from the point of origin to an agreed location. It is the most important component of a transportation company's revenue.Considering the above principle, Syarikat Pengangkutan Lori Tumpang Pantai Timur Transport Sdn. Bhd. in Tumpat, Kelantan is to deliver 30mt of goods to Syarikat Mah Sing Plastics Industries Sdn. Bhd in Port Klang, Selangor with a total distance of 491.3 km per way and toll charges RM24.70/way on a deadheading basis.The breakdown of the direct and variable costs for the calculation of freight charges for the above truck's journey are as below: Destination: Tumpat to Port Klang Item Basis Monthly maintenance Monthly 9,580Salary…Assume that the situation can be expressed as a linear cost function. Find the cost function in this case. Marginal cost: $60; 120 items cost $8000 to produce. The linear cost function is C(x)= FEE