Question 3Angie March owns a catering company that stages banquets and parties for both individuals and companies. The business is seasonal, with heavy demand during the summer months and year-endholidays and light demand at other times. Angie has gathered the following cost information from the past year:MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberTotal▼(a)Labor Hours Overhead Costs3,5002,8003,0004,2004,5005,5006,5007,5007,8004,500Variable cost = $x3,1006,50059,400Your answer is partially correct. Try again.Using the high-low method, compute the overhead cost per labor hour and the fixed overhead cost per month. (Round variable cost to 2 decimal places, e.g. 52.75 and all other answers to 0decimal places, e.g. 5,275.)Fixed cost = $$73,00069,08070,00077,00080,00087,00091,00096,00099,58081,00073,00090,000$986,6606.1per labor hour

VARIABLE COST Variable Cost is a cost that varies with the level of output.Variable costs include…

estion 3 ie March owns a catering company that stages banquets and parties for both individuals and companies. The business is seasonal, with heavy demand during the summer months and year-end days and light demand at other times. Angie has gathered the following cost information from the past year: lonth uary ruary ch il ✓ e " ust =tember ober vember cember Total Labor Hours Overhead Costs 3,500 2,800 able cost $l x ed cost (a) Your answer is partially correct. Try again. ng the high-low method, compute the overhead cost per labor hour and the fixed overhead cost per month. (Round variable cost to 2 decimal places, e.g. 52.75 and all other answers to 0 cimal places, e.g. 5,275.) 3,000 4,200 4,500 5,500 6,500 7,500 7,800 4,500 3,100 6,500 59,400 = $ $73,000 69,080 70,000 77,000 80,000 87,000 91,000 96,000 99,580 81,000 73,000 90,000 $986,660 6.1 per labor hour

estion 3 ie March owns a catering company that stages banquets and parties for both individuals and companies. The business is seasonal, with heavy demand during the summer months and year-end days and light demand at other times. Angie has gathered the following cost information from the past year: lonth uary ruary ch il ✓ e " ust =tember ober vember cember Total Labor Hours Overhead Costs 3,500 2,800 able cost $l x ed cost (a) Your answer is partially correct. Try again. ng the high-low method, compute the overhead cost per labor hour and the fixed overhead cost per month. (Round variable cost to 2 decimal places, e.g. 52.75 and all other answers to 0 cimal places, e.g. 5,275.) 3,000 4,200 4,500 5,500 6,500 7,500 7,800 4,500 3,100 6,500 59,400 = $ $73,000 69,080 70,000 77,000 80,000 87,000 91,000 96,000 99,580 81,000 73,000 90,000 $986,660 6.1 per labor hour

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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Fantastic29 Cleapers owns and operates a large automatic laundry facility in Winchester. The company expects to process 8,100 loads of laundry in June and to collect an average of $6.20 per load processed. The following table provides data concerning the company's costs: Cost per Load of Laundry $ 0.60 $ 0.15 $ 0.40 $0.08 Detergents and Softeners. Equipment Maintenance Staff Compensation $ 4,300 $ 1,200 $ 8,100 $ 2,000 Administrative Expenses $1,500 $ 0.04 For example, utilities costs are $1,200 per month plus $0.08 per load of laundry. Utilities Equipment Depreciation Facility Lease The actual operating results for June are as follows: Fantastic29 Cleaners Income Statement For the Month Ended June 30 Actual loads processed Revenue Expenses: Fixed Cost per Month Detergents and Softeners Equipment Maintenance Staff Compensation Utilities Equipment Depreciation ( Facility Lease Administrative Expenses Total expense Net operating income 8,200 $ 52,320 5,360 1,455 7,900 1,018 8,100 2,200…
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8:07 Done A bartleby.com AA C = bartleby Q&A Business / Accounting / Q&A Library / You produce tw... You produce two products, Queen an... You produce two products, Queen and King. Queen King Sales price per unit $800 $1,200 Variable cost per unit 300 450 Stuffing hours required: 1 hour 2 hours You employ three workers who are trained to stuff these products. There are only 7,000 assembly hours available in the year. You believe that you can sell a maximum of 3,000 queen and 4,000 king. A. Which product should you emphasize? Support your answer with calculations. B. How many queen can you (should you) produce? Support your answer with calculations C. How many king can you (should you) produce? Support your answer with calculations Privacy - Terms
Unity University Final Exam for Management And Financial Accounting Consider zagol manufacturing which is engaged in the manufacturing of product ABC. To produce one unit of the product the company incurs the following costs: Direct material ______$5/kg Direct labor_________$10/hour Total Manufacturing overhead __________________$30000 The company produces a total of 10000 units per month. And the actual price the product is sold is around $24. Company XYZ offers to buy a total of 5000 units this month at the price of $ 17/unit. Would you accept the order if you are the manager? (assume 20% of the manufacturing overhead is variable cost). Describe the basic financial statements , their purpose and their importance to various internal and external users. Clearly discuss which users are most interested in which financial statement and why. Form question one above considering all the manufacturing costs are fixed calculate the Breakeven point both in unit and quantity using the…
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