Assume a Potbelly's restaurant has the following information available regarding costs at represent- tivelevels of monthly sales:Monthly sales in units 5,000 8,000 10,000 Cost of food sold.$10,000 $16,000$20,000 Wages and fringe benefits.........................4,200 4,320 4,400 Fees paid deliveryhelp...........................1,100 1,760 2,200 Rent on building.1,100 1,100 1,100. 900 900 900 UtilitiesDepreciation on equipment...Supplies (soap, floor wax, etc.)..1,700 1,700 Total.........800 920 1,000...........1,700...250 340 400 Administrative costs.....$20,050 $27,040 $31,700 Required a. Identify each cost asbeing variable, fixed, or mixed. b. Use the high-low method to develop a schedule identifying theamount of each cost that is mixed or variable per unit. Total the amounts under each category

The high-low method serves as a managerial accounting tool to dissect mixed costs into fixed and…

Answered: Assume a Potbelly's restaurant has the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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3. Multiple product companies Pet Park International sells cat food and dog food. Its monthly fixed costs average $620,000. Cat food sales represent 80% of the company's total revenue. Dog food sales constitute the remaining 20%. The company has provided the following information expressed on a per-case basis: Cat food Dog food. Selling Contribution Price Margin $16 $40 $30 (a) The total monthly sales revenue required to break-even is $ (Rounded) (b) The total monthly sales revenue required to earn an operating income of $135,000 is $_ (c) The company's margin of safety at a monthly sales level of $2,500,000 is $_ (d) If monthly fixed costs increase by $10,000, the break-even point, expressed in sales dollars, will increase to $
ceive full credit you must show your as a template. Practice Problems 1)Corp sells several products. Information on average revenue and costs is as follows: Selling price per unit $28.50 Variable costs per unit: Direct material $5.50 Direct manufacturing labor $1.15 Manufacturing overhead $0.85 Selling costs $2.50 $125,000 ulations Annual fixed costs How much is operating income if the company sells 15,000 units? 2) If the company decides to lower its selling price by 10%, the operating income is reduced by how r hour: firm (this is conceptually similar to the O/H allocation year 2015, O/H cost estimates total $840,000 for an 2015, it decided to evaluate the use of additional ined that number of design changes, setups, and llowing information was gathered during the analysis: S 0 ! Activity level 300 design changes 5,000 setups 8,000 inspections pital Systems, are expected to use the following lospital Systems 76,000 0 10 38 e O/H cost estimate for Money Managers for a deluxe model.…
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Subject: acounting
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penninsula hardware buys cabinet doors for $24 less 39%, 10% and 4%. the store's overhead expenses are 34% of cost and the required profit is 14% of cost Find the cost= find the expense= find the profit= find the regular selling price=
I. Cost Behavior and Estimation (HP 6) The owners of Mormont Co., Jorah and Lyanna, are expecting sales for August, 2019 to be 250,000 units. Information about Mormont's Sales and costs over the past three months, are as follows: Units Sold Sales Cost of Goods Sold Wage & Salary Expense Admin Expense May O 200,000 300,000 $3,450,000 $5,175,000 $1,575,000 $2,312,500 $950,000 $975,000 $1,300,000 $1,600,000 June July 500,000 $8,625,000 $3,787,500 $1,925,000 $2,500,000 Required: Based on the information provided, provide a projected income statement, using the contribution margin format. 5
Cost Behavior Analysis in a Restaurant: High-Low Cost Estimation Assume a Papa John's restaurant has the following information available regarding costs at representative levels of monthly sales: Cost of food sold Wages and fringe benefits Fees paid delivery help Rent on building Depreciation on equipment Utilities Supplies (soap, floor wax, etc.) Administrative costs Total Monthly sales in units 5,000 8,000 10,000 $15,000 $24,000 $30,000 4,350 4,560 4,700 1,300 2,080 2,600 1.300 1,300 1,300 400 400 400 750 840 900 150 180 200 1.500 1.500 1,500 $24.750 $34,860 $41,600 (a) Identify each cost as being variable, fixed, or mixed. Cost of food sold Wages and fringe benefits Fees paid delivery help Rent on building Depreciation on equipment Variable # Mixed ● Variable ÷ Fixed Fixed
For each total fixed cost listed below, determine the fixed cost per unit when sales are 50, 100, and 200 units. Store rent $ 5,000 Manager’s salary 3,000 Equipment lease 500 Depreciation on fixtures 250
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