abled: Exam 5iSavedSantana Rey sees that Business Solutions's line of computer desks and chairs is popular, and she is finding it hard to keep up withdemand. Santana only has 1,211 direct labor hours available. She must determine the best sales mix given her limited hours.Information about the desks and chairs follows.Selling price per unitVariable costs per unitContribution margin per unitDirect labor hours per unitMaximum demand per quarterRequired:Desks$ 1,332.50590.00$ 742.50Chairs$ 388.75130.00$ 258.756 hours171 desks5 hours47 chairsDetermine the best sales mix and the contribution margin the business will earn at that sales mix.Note: Round per unit amounts to 2 decimal places.He

Step 1: Calculate the Contribution Margin per Direct Labor Hour:Desks:Contribution margin per unit:…

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter16: Manufacturing Accounting (mfg)

Section: Chapter Questions

Problem 4R: Open MFG2 and click the Chart sheet tab. The management of Twisp is convinced that the quality of...

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Subject :- Accounting
Santana Rey has found that her line of computer desks and chairs has become very popular and she is finding it hard to keep up with demand. She knows that she cannot fill all of her orders for both items, so she decides she must determine the optimal sales mix given the resources she has available. Information about the desks and chairs follows. Desks Chairs Selling price per unit $ 1,125 $ 375 Variable costs per unit 500 200 Contribution margin per unit $ 625 $ 175 Direct labor hours per unit 5 hours 4 hours Expected demand for next quarter 175 desks 50 chairs Santana has determined that she only has 1,015 direct labor hours available for the next quarter and wants to optimize her contribution margin given the limited number of direct labor hours available. Â Required: Determine the optimal sales mix and the contribution margin the business will earn at that sales mix. (Input all…
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Santana Rey sees that Business Solutions's line of computer desks and chairs is popular, and she is finding it hard to keep up with demand. Santana only has 1,320 direct labor hours available. She must determine the best sales mix given her limited hours. Information about the desks and chairs follows. Desks Chairs Selling price per unit Variable costs per unit $ 1,421.75 580.00 $ 533.50 250.00 Contribution margin per unit $ 841.75 $ 283.50 Direct labor hours per unit Maximum demand per quarter 7 hours 6 hours 162 desks 45 chairs Required: Determine the best sales mix and the contribution margin the business will earn at that sales mix. (Round per unit amounts to 2 decimal places.) Desks Chairs Contribution margin per direct labor hour Desks Chairs Total Maximum number of units to be sold 162 45 Hours required to produce maximum units For most profitable sales mix Desks Chairs Total Hours dedicated to the production of each product 1,320 Units produced for most profitable sales mix…
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Download and fill out the Section 5 Comprehensive Problem Template attached below to complete the problems (ignore question 5-2 as this applies to the "combined accounting and finance" course). Problem 5-1 Redlands Inc. sells one product for $5. The variable cost per item is $3, and the fixed costs for the firm are $40. Required: a. Compute the breakeven point in units. b. Compute the number of units and sales revenue needed to achieve a $20 profit. (Ignore income taxes.) c. Assume that the income tax rate for Redlands is 40%. Compute the number of units and sales revenue needed to achieve an $18 net profit. d. Compute the number of units and sales revenue needed to achieve an 8% profit margin. (Ignore income taxes.) e. Compute the number of units and sales revenue needed to achieve a 12% net profit margin. (Assume a 40% income tax rate.) f. Assume that Redlands currently sells 40 units. Redlands estimates that if it increased sales price to $6 per unit demand would decrease by…
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Open MFG2 and click the Chart sheet tab. The management of Twisp is convinced that the quality of its products is highly dependent on their relative labor costs. Experience has shown that direct labor should account for at least 45% of the total product cost. According to the pie chart that appears on the screen, Twisp did not achieve this goal in 2011. How much should Twisp have spent on direct labor to reach its 45% goal? To find out, try different values for direct labor (cell C8), clicking the Chart sheet tab after each attempt. When you find a direct labor level that increases the direct labor percentage to 45%, enter the answer in the space provided: In 2011, direct labor needed to be ________________. Open MFG3 and click the Chart sheet tab. Did Twisp achieve its 45% goal in 2012? If not, answer the following: In 2012, direct labor needed to be ________________. When the assignment is complete, close the files without saving them again. Worksheet. The MFG2 worksheet presents the companys manufacturing activities for 2011. The company also had the following selling and general activities in 2011: sales of 13,503,000, selling expenses of 2,400,000, and general expenses of 1,200,000. Modify the worksheet to include this information in the Data Section and change the Answer Section so that it is in the form of an income statement. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as MFGT. Hint: Expand the Data Section to include these additional input items alphabetically. Insert a row for sales under the heading in the Answer Section. Add the rest of the income statement information to the bottom of the schedule. You will need to enter formulas for gross profit, all the expenses, and net income. You will also need to change the statement name. Chart. Using the MFG2 file, prepare a single 3-D bar chart to show the dollar amount of materials, labor, and overhead incurred by Twisp in 2011 and 2012. Complete the Chart Data Table and use it as a basis for preparing the chart. Enter all appropriate titles, legends, and formats. Enter your name somewhere on the chart. Save the file again as MFG2. Print the chart.
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