Consider Miller Chemicals that produces water purification crystals for swimming pools. The major inputs used in the production process are labor, raw materials and energy. The labor costs are $200,000; raw materialscosts are $80,000; and energy costs are $9,000. Labor costs in year two are $350,000; raw materials costs $95,000; and energy costs $11,000. Labor costs in year three are $350,000; raw materials costs $40,000; andenergy costs $6,000. Miller Chemical produced 100,000 pounds of crystal in year 1; 150,000 pounds of crystals in year 2, and 184, 500 pounds of crystals in year 3. The productivity in year two increases/decreases byBlank 1 and the productivity from year one to year three increases/decreases by Blank 2. (Enter your numbers only. R

The objective of the question is to calculate the change in productivity from year one to year two…

Answered: Consider Miller Chemicals that produces…

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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Thompson Industrial Products Inc. (TIPI) is a diversified industrial-cleaner processing company. The company's Dargan plant produces two products: a table cleaner and a floor cleaner from a common set of chemical inputs (CDG). Each week, 945,000 ounces of chemical input are processed at a cost of $213,000 into 630,000 ounces of floor cleaner and 315,000 ounces of table cleaner. The floor cleaner has no market value until it is converted into a polish with the trade name FloorShine. The additional processing costs for this conversion amount to $244,200, Floor Shine sells at $20 per 30-ounce bottle. The table cleaner can be sold for $21 per 25-ounce bottle. However, the table cleaner can be converted into two other products by adding 315,000 ounces of another compound (TCP) to the 315,000 ounces of table cleaner. This joint process will yield 315,000 ounces each of table stain remover (TSR) and table polish (TP). The additional processing costs for this process amount to $102,000. Both…
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Linwood Company recently began production of a new navigation device, which required a capital investment of $660,000. Linwood is currently considering establishing a selling price for this new device that will ensure a 25% return on the capital investment. The engineering and the sales department compiled the following estimates for producing and selling 77,000 devices: Per Unit Total (77,000 units) Direct Materials $12 Direct Labor $26 Variable Manufacturing Overhead $14 Selling and Administrative Expenses $17 Fixed Manufacturing Overhead $223,000 General and Administrative Expenses $73,000 Required:Do not enter dollar signs or commas in the input boxes.Round all answers to 2 decimal places.a) Using the cost plus pricing method, calculate the markup percentage.Full Cost: $AnswerMarkup Percentage: Answer%b) The company has a cost plus pricing policy that uses the absorption (full) cost as the cost base and the markup percentage calculated in part a).…
Please answer it properly
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Rahul

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