Exercise 2-53 (Algo) Cost Behavior and Forecasting (LO 2-5) Trumball Catering served 5,600 meals last month. Trumball recorded the following costs with those meals: Variable costs: Ingredients used Direct labor Indirect materials and supplies Utilities Depreciation on trucks and equipment (straight-line, unit basis) Fixed costs: Managers' salaries. Rent Depreciation on equipment (straight-line, time basis) Miscellaneous fixed costs. $ 11,800 25,700 12,500 5,680 12,600 $ 36,700 22,200 Total variable costs Total fixed costs Total costs Unit costs 15,600 6,700 Required: Trumball expects to serve 30 percent more meals in the next month. Unit variable costs are expected to remain unchanged. The controller at Trumball knows that if the business caters over 6,160 meals in a month, the company must hire an additional manager (part-time) at a cost of $4,087 for the month. Miscellaneous fixed costs are expected to increase by 15 percent. Calculate the unit cost and the total cost if expectations for costs and volume are met next month. Note: Do not round intermediate calculations. Round "Unit costs" answer to 2 decimal places.

Exercise 2-53 (Algo) Cost Behavior and Forecasting (LO 2-5) Trumball Catering served 5,600 meals last month. Trumball recorded the following costs with those meals: Variable costs: Ingredients used Direct labor Indirect materials and supplies Utilities Depreciation on trucks and equipment (straight-line, unit basis) Fixed costs: Managers' salaries. Rent Depreciation on equipment (straight-line, time basis) Miscellaneous fixed costs. $ 11,800 25,700 12,500 5,680 12,600 $ 36,700 22,200 Total variable costs Total fixed costs Total costs Unit costs 15,600 6,700 Required: Trumball expects to serve 30 percent more meals in the next month. Unit variable costs are expected to remain unchanged. The controller at Trumball knows that if the business caters over 6,160 meals in a month, the company must hire an additional manager (part-time) at a cost of $4,087 for the month. Miscellaneous fixed costs are expected to increase by 15 percent. Calculate the unit cost and the total cost if expectations for costs and volume are met next month. Note: Do not round intermediate calculations. Round "Unit costs" answer to 2 decimal places.

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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