Find the product mix that will produce the maximum profit.
Q: Can you please check my work still missing some
A: Required 1: Compute the Conversion Cost Rate per MowerTo compute the conversion cost rate per mower,…
Q: to service a minimum
A: Khaki Pants have a higher contribution margin per minute on the cutting machines. As the cutting…
Q: guurmet Vegetable Soup in a small processing plant. Carrots are one of six different vegetables that…
A: Variance analysis is the difference between the actual and planned (standard) expenses. When the…
Q: A quilter is making table runners and placemats. It takes her 12 minutes to make a table runner and…
A: The question is related to Limiting factor. Limiting factor is that factor that hinders the…
Q: Auto-Motion is a lean manufacturer of self-driving wheelchairs. The company budgets $560,000 of…
A: Standard cost: In the accounting records, the term standard cost refers to the practice of…
Q: Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the…
A: Contribution margin is excess of sales revenue over variable costs in business. Contribution margin…
Q: Mapple, Inc. is a smart phone manufacturer. Each month, to make its smart phones, the firm also…
A: Relevant cost per unit = Direct materials + Direct labor + Variable OH + Avoidable Fixed OH =…
Q: Accounting Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes…
A: As the Khaki pants contribution margin per pair is higher than Khaki shorts hence minimum demand for…
Q: Blended Motors specializes in producing one specialty vehicle. It is called Surfer and is styled to…
A: Variable Cost: Costs that are classified as either fixed or variable generally depend on the…
Q: Heidi owns a fruit smoothie shop at the local mall Each smoothie requires 3/4 pound of mixed bemes,…
A: The variance is the difference between the actual and standard cost of production data. The variance…
Q: Required: 1. Compute the following variances for July: (Indicate the effect of each variance by…
A: Solution:- Given, Dawson Toys, Ltd., produces a toy called the Maze Direct materials = 8 microns per…
Q: ing these mechanisms at full capacity are as follows. Variable costs per unit:…
A: Introduction : Incremental cost means the variable cost which increases with the increase in the…
Q: Which product should be produced to maximize profits? Given the capacity constraint, determine which…
A: Given: Product 1 Product 2 Product 3 Selling Price P12 P16 P21…
Q: 10. Each board is covered in wax during production, each tin of wax costs R600 and can cover 50…
A: Non- manufacturing expenses: Expenses that are not associated with the manufacturing of a product…
Q: The company where Edward works produces skateboards locally but sells them globally for $60 each.…
A: Step 1:*Calculate Direct Materials Price Variances*- *Wood Price Variance:* \((Actual Price -…
Q: Herold manages a company that makes and sells two kinds of speakers, the Boomer and the Rocker. Each…
A: The objective of the question is to determine the number of each type of speakers (Boomer and…
Q: Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the…
A:
Q: Blossom's Wind Toys manufactures decorative kites, banners, and windsocks. During the month of…
A: Contribution Contribution is the difference between the sale price and variable cost. Decision under…
Q: Fashionista Toys makes three versions of the tiny 'Oh My Gosh You' dolls. The first version requires…
A: The problem has been formulated as below : Let X1 = the number of units of version 1 to be…
Q: Garrison Boutique, a small novelty store, just spent $4,000 on a new software program that will help…
A: Relevant cost: Any cost which is relevant to decision making. These costs are avoidable. Relevant…
Q: Comfy Fit Company manufactures two types of university sweatshirts, the Swoop and the Rufus, with…
A: Optimal product mix refers to the ideal combination of products or services that a company should…
Q: Quality Clothing, Inc., produces skorts and jumper uniforms for school children. In the process of…
A: Given,
Q: National Co. manufactures specialty components for the electronics industry in a highly labor…
A: Solution Given Time required for 80 units 150 hours Additional unit required 240 units…
Q: Casual Essentials, Inc. manufactures two types of team shirts, the Homerun and the Goalpost, with…
A: Unit contribution margin per machine hour = Unit contribution margin / Machine hours required per…
Q: XYZ manufactures tables and chairs. A table requires 40 kg of wood and a chair requires 30 kg of…
A: The objective of the question is to formulate a Linear Programming problem that will maximize the…
Q: product should be made? Khaki shorts pairs Khaki pants pairs
A: Contribution margin = Sale price - variable cost
Q: Vikrambhai
A: The objective of the question is to determine the number of Boomers and Rockers that should be…
Q: If Division A needs 11,250 lamps instead of 9,000 during the next year, what should be the minimum…
A: Lets understand the basics.When transfer is made from one division of entity to another division of…
Q: Ibri Company, a manufacturer of stereo systems, started its production in January 2018. For the…
A: Working Notes: Depreciation should be converted into monthly by dividing it by 12 because it is…
Q: d Co. manufactures two types of O rings, large and small. Both rings use the same material but…
A: In this question, we have to calculate different variances.
Q: ABC Tool Company produces 2,410 wooden ladders per day. Each ladder can be sold for $125. To create…
A: Formula: Total material cost = Cost of lumber + cost of screws + cost of dowels. Sum of lumber ,…
Q: Fantastic Plastics manufactures plastic bottles that are used by other companies for packaging. The…
A: Cost is defined as the monetary expense incurred by the company or an organization on the…
Q: Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the…
A: It is the income earned by an entity after incurring all the expenses. It is the net revenue left…
Q: Sager
A: a) Purchase of raw materials on credit to produce 85 units:Raw Materials Inventory is debited for…
Q: the company the working fairies make tablecloths but the whole tablecloth is rectangular and…
A: The cost of production and markup: The cost of production is made up of the costs of direct…
Q: C. W. McCall sells a goldplated souvenir mug; McCall expects to sell 2,100 units for $50 each to…
A: Sales volume variance = (Actual units sold - Budgeted units sold) x Budgeted contribution per unit
Q: e outdoor dining company specialize in producing a set of wood patio furniture, consisting of tables…
A: Cost Classification and Cost Behavior: Cost behavior refers to the link between costs and…
Q: Marvel Parts, Incorporated, manufactures auto accessories. One of the company’s products is a set of…
A: Overhead expenses are the ones that a company pays but that not directly related to a product or…
Q: A furniture company manufactures tables and chairs. A table requires 45 board-feet of wood, and a…
A: Maximizing profits refers to optimizing a company's financial gains through cost reduction, revenue…
Q: Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the…
A: Total cost is the total amount of money spent to produce some form of result. Accounting-wise, the…
Q: C. W. McCall sells a goldplated souvenir mug; McCall expects to sell 1,400 units for $35 each to…
A: The question is based on the concept of Cost Accounting.
Monoblocs, Inc. manufactures set-it-up-yourself furniture for students. He currently makes two products, bookcases and tables. Each bookcase contributes P240 to profits and each table, P200. Each product passes through two manufacturing departments, cutting and finishing. Bookcases take 4 hrs a unit in cutting and 4 in finishing. Table require 3 hours a unit in cutting and 5 in finishing. There are currently 40 hrs available in cutting and 30 in finishing. Find the product mix that will produce the maximum profit.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Robo-Lawn is a lean manufacturer of robotic lawn mowers. The company budgets $800,000 of conversion costs and 10,000 production hours for this year. The manufacturing of each mower requires 5 production hours and $250 of raw materials. During a recent quarter, the company produced 600 mowers and sold 580 mowers. Each mower is sold for $1,000. Required: 1. Compute the conversion cost rate per mower. 2. Prepare journal entries to record (a) purchase of raw materials on credit, (b) applied conversion costs to production, (c) sale of 580 mowers on credit, and (d) cost of goods sold and finished goods inventory. I just need help on D. It needs Cost of goods sold, Finished goods inventory, and Work in process inventory.Quality Clothing, Inc., produces skorts and jumper uniforms for school children. In the process of cutting out the cloth pleces for each product, a certain amount of scrap cloth is produced. Quality has been selling this cloth scrap to Jorge's Scrap Warehouse for $3.30 p pound. Last year, the company sold 42,000 lb. of scrap, which would be enough to make 10,500 teddy bears that the management of Quality is now interested in producing. Their processes would need some reprogramming, particularly in the cutting and stitching processes, but it would require no additional worker training. However, new packaging would be needed. The total variable cost to produce the teddy bears $3.80. Fixed costs would increase by $93,000 per year for the lease of the packaging equipment and Quality estimates it could produce and sell 10,500 teddy bears per year. Finished teddy bears could be sold for $18.00 each. Calculate the effect on operating Income. Round your answers to the nearest dollar. Sell at…Paradise Marine Sails manufactures sails for sailboats. The company’s capacity is 29,000 sails per month. They are currently producing 25,000 sails a month. Current production cost can be found in the chart below: Sales Price $200 Variable Cost Manufacturing Cost $100 Administrative Cost $50 Total Fixed Cost Manufacturing $500,000 Administrative $480,000 Should you accept a special order at a price of $170 for 3000 sails? Fixed cost will increase by $9,000 to produce these sails. Give a numerical justification Would your answer be different if the company was currently producing 28,000 sails?
- A chain saw requires 2 hours of assembly and a wood chipper 5 hours. A maximum of 30 hours of assembly time is available. The profit is $170 on a chain saw and $250 on a chipper. How many of each should be assembled for maximum profit? To attain the maximum profit, assembiechain saws and wood chippers.Mosbius Designs, an architectural firm based in the Upper West Side of New York. Currently, Mosbius Designs is run single-handedly by its owner, Ted Mosby. Ted is considering hiring an assistant, PJ, to help him answer phone calls as business picks up. For the year ended December 31, 2009, Mosbius Designs produced 200 design plans. The following information was provided for 2009: Sales Revenue $250,000 Variable Costs $50,000 Fixed Costs $25,000 If the company hires PJ, Ted believes he can raise the price of each design by $250 due to the improved level of customer service. He will also be able to produce 50 more designs in a year with the extra time. However, the annual fixed costs will increase by the amount of PJ's salary, $55,000. Based on the above information, which of the following statements is incorrect? Question 5 options: The company's contribution margin per unit in 2009 was $1,000. If the company hires PJ, the company must make $96,000…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 15 Home Office systems are sold?
- Chadwick Shoe Co. produces and sells an e xcellent-quality walking shoe. After production, the shoes are distributed to 20 warehouses around the country. Each warehouse services approximately 100 stores in its region. Chadwick uses an EOQ model to determine the number of pairs of shoes to order for each warehouse from the factory. Annual demand for Warehouse OR2 is approximately 120,000 pairs of shoes. The ordering cost is $250 per order. The annual carrying cost of a pair of shoes is $2.40 per pair. Q. Assume each month consists of approximately 4 weeks. If it takes 1 week to receive an order, at what point should warehouse OR2 reorder shoes?Lightview produces and sells overhead projectors to schools and colleges. Each overhead projector uses $22 of materials and requires 3 hours of labor at $10 per hour. Each overhead projector sells for $70.17. Lightview has fixed overheads of $244386. What is Lightview's break-even point in sales units?Each year, Giada Company produces 20,000 units of a component part used in tablet computers. An outside supplier has offered to supply the part for $1.39. The unit cost is: Direct materials $0.83 Direct labor 0.34 Variable overhead 0.13 Fixed overhead 2.55 Total unit cost $3.85 1. What are the alternatives for Giada Company? a. Make the part in house b.Buy the part externally c.Make the part in house or buy the part externally d.None 2. Assume that none of the fixed cost is avoidable. List the relevant cost(s) of internal production. a.Direct materials, direct labor and variable and fixed overhead b.Direct materials, direct labor and variable overhead c.Direct materials, direct labor and fixed overhead d.None List the relevant cost(s) of external purchase. a.Purchase price b.Sales price c.Material price d.None 3. Which alternative is more cost effective and by how much? a. Making the part in house b. Buying the part from the external supplier by $___________ 4. What if…
- Quality Clothing, Inc., produces skorts and jumper uniforms for school children. In the process of cutting out the cloth pieces for each product, a certain amount of scrap cloth is produced. Quality has been selling this cloth scrap to Jorge's Scrap Warehouse for $3.15 per pound. Last year, the company sold 39,000 lb. of scrap, which would be enough to make 9,750 teddy bears that the management of Quality is now interested in producing. Their processes would need some reprogramming, particularly in the cutting and stitching processes, but it would require no additional worker training. However, new packaging would be needed. The total variable cost to produce the teddy bears $3.80. Fixed costs would increase by $94,000 per year for the lease of the packaging equipment and Quality estimates it could produce and sell 9,750 teddy bears per year. Finished teddy bears could be sold for $18.00 each. Calculate the effect on operating income. Round your answers to the nearest dollar. Sell at…Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the cutting machine area, which is the chief constraint during production. Khaki shorts take 15 minutes on the cutting machine and have a contribution margin per pair of shorts of $15. Khaki pants take 24 minutes on the cutting machine and have a contribution margin per pair of pants of $30. If it is assumed that Rough Stuff has 4,800 hours available on the cutting machine to service a minimum demand for each product of 3,000 units, how much will profits increase if 82 more hours of machine time can be obtained?Garrison Boutique, a small novelty store, just spent $4,000 on a new software program that will help in organizing its inventory. Due to the steep learning curve required to use the new software, Garrison must decide between hiring two part-time college students or one full-time employee. Each college student would work 20 hours per week, and would earn $15 per hour. The full-time employee would work 40 hours per week and would earn $15 per hour plus the equivalent of $2 per hour in benefits. Employees are given two polo shirts to wear as their uniform. The polo-shirts cost Garrison $10 each. What are the relevant costs, relevant revenues, sunk costs, and opportunity costs for Garrison?