Chapter 10 18) For February, the cost components of a picture frame include $0.30 for the glass, $0.75 for wooden frame, and $0.80 for assembly. The assembly desk and tools cost $500. 250 frames produced in the coming year. What cost function best represents these costs? A) y = 1.85 + 500X B) y = 500+ 1.85X C) y = 3.85 + 600X D) y = 1.05 + 500X

Chapter 10 18) For February, the cost components of a picture frame include $0.30 for the glass, $0.75 for wooden frame, and $0.80 for assembly. The assembly desk and tools cost $500. 250 frames produced in the coming year. What cost function best represents these costs? A) y = 1.85 + 500X B) y = 500+ 1.85X C) y = 3.85 + 600X D) y = 1.05 + 500X

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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A company produces three components on the same machine. The components are used i the manufacture of a finished product. The budget for next year indicates a requirement for 3,000 units of each component, but only 60,000 hours of machine time will be available. Additional components can be purchased from an external supplier to meet any production shortfall. Component Machine hours per unit A B с 9 5 O $537,000 O $543,000 O $549,000 O $553,000 12 Show Transcribed Text Variable production cost per unit $ per unit 45 70 56 Purchase price from external supplier $ per unit 65 78 80 What is the minimum total variable cost at which the 3,000 units of all three components can be obtained?
Chapter 23, Question 2
Item 3 Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.32 per micron Direct labor: 1.3 hours per toy at $6.70 per hour During July, the company produced 5,400 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of $0.30 per micron. 32,500 of these microns were still in inventory at the end of the month. Direct labor: 7,420 direct labor-hours were worked at a cost of $52,682. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price…
nku.3 answer must be in table format or i will give down vote
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
Question 6 Amundsen Company makes 60,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows: Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Variable Selling Fixed Selling Total $ 10.10 $17.40 $ 2.70 $15.00 $ 2.75 $ 3.25 $51.20 An outside supplier has offered to sell the company all of these parts it needs. If the company accepts this offer, the facilities now being used to make the part would be idle and fixed manufacturing overhead would be reduced by 80% of current cost. The variable selling costs would be reduced to 40% of current cost. Required: What is the maximum amount the company should be willing to pay an outside supplier per unit for the part?
Q5: Clone Computers assembles and packages personal computer systems from brand-name components. Its Home Office PC System is assembled from components costing $1400 per system and sells for $2000. Labour costs for assembly are $100 per system. This product line's share of overhead costs is $10,000 per month. a) How many Home Office Systems must be sold each month to break even on this product line? ________ b) What will be the profit or loss for a month in which 13 Home Office Systems are sold? _________
9. 3. exercise )uagement. Problem 1 Rosanna Di Magiba Ltd recorded the following costs for the past six months: Using High-Low Method and Least Square Method. Month Total cost Activity level Units (000) K'000 1 40 6,586 30 5,826 36 6,282 4 38 6,396 42 6,700 33 6,052 Required: a. Estimate the fixed cost per month b. Estimate the total costs for the following activity levels in a month 75units 90 units Problem 2 Meng Company is preparing a flexible budget for the next year and requir