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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Willis Company is trying to decide which of two bicycle wheels to manufacture next quarter. Cost data pertaining to the two choices follow. Multiple Choice Cost of materials per unit Cost of direct labor per unit Advertising cost per year 4,000 Depreciation on equipment 6,000 Which costs are relevant to the decision of which wheel to produce? Cost of materials and direct labor Wheel A $25 30 Cost of direct labor, advertising, and depreciation Cost of materials, direct labor and advertising Cost of advertising and depreciation Wheel XZ $45 35 7,000 9,000
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Question 2 (L03) Yates Corp. wants to develop a cost equation for its administrative costs. The controller believes the appropriate cost driver is units produced. Last year's data are presented below: Month January February March April May June July August September October November December Total Average Units produced 32,500 37,700 24,700 40,300 49,400 42,900 53,300 45,500 26,000 48,100 61,100 54,600 516,100 43,008 Administrative Costs $24,288 27,720 17,820 30,360 37,290 29,040 32,670 30,030 20,460 34,320 40,920 36,630 $361.548 $30,129 Required: (a.) What is the equation for administrative costs using the high-low method? (b.) Prepare an estimate of administrative costs for a month when 30,000 units are produced.
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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? _________
The following is Alsatia Corporation's contribution format income statement for last month: The company has no beginning or ending inventories and produced and sold 10,000 units during the month.Required: What is the company's contribution margin ratio? What is the company's break-even in units? If sales increase by 100 units, by how much should net operating income increase? How many units would the company have to sell to attain target profits of $225,000? What is the company's margin of safety in dollars? What is the company's degree of operating leverage?