Please help me with correct answer thanku Gallery Corporation makes two products, footballs and baseballs. Additional information follows:UnitsSalesVariable costsFootballs2,000Baseballs$60,0002,500$25,00024,00013,750Fixed costs10,0005,250Net income$26,000$6,000Yards of leather per unit1.250.30Profit per unit$13.00Contribution margin per unit$18.00$2.40$4.50Assume that Gallery is able to order an additional 2,500 yards of leather and wishes to maximize its income. Of the additional units it produces, at least 500 ofeach product are necessary for sales.How many units of each must be produced?Units produceFootballsBaseballs8000

Answered: Image /qna-images/answer/34d249e5-31db-4fb7-be17-11bd4bd977f9.jpg

Answered: Gallery Corporation makes two products,…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

See similar textbooks

Similar questions

Bramble Corporation makes two products, footballs and baseballs. Additional information follows: Footballs Baseballs Units 2,000 2,500 Sales $144,000 $60,000 Variable costs 57,600 33,000 Fixed costs 24,000 12,600 Net income $62,400 $14,400 Yards of leather per unit 1.25 0.30 Net income per unit $31.20 $5.76 Unit contribution margin $43.20 $10.80 Assume that Bramble is able to order an additional 4,000 yards of leather and wishes to maximize its net income. Of the additional units it produces, at least 800 of each product are necessary for sales. How many units of each must be produced? (Round contribution margin per yard to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275.) Units produce Footballs Baseballs
Ayayai Corporation makes two products, footballs and baseballs. Additional information follows: Footballs Baseballs Units 2,000 2,500 Sales $48,000 $20,000 Variable costs 19,200 11,000 Fixed costs 8,000 4,200 Net income $20,800 $4,800 Yards of leather per unit 1.25 0.30 Net income per unit $10.40 $1.92 Unit contribution margin $14.40 $3.60 Assume that Ayayai is able to order an additional 2,000 yards of leather and wishes to maximize its net income. Of the additional units it produces, at least 400 of each product are necessary for sales. How many units of each must be produced? (Round contribution margin per yard to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275.)
The following costs are for Optical View Incorporated, a contact lens manufacturer: Output in Units Fixed Costs Variable Costs Total Costs 250 $ 4,750 $ 7,500 $ 12,250 300 4,750 9,000 13,750 350 4,750 10,500 15,250 400 4,750 12,000 16,750 For each level of output calculate the per-unit total cost, per-unit variable cost, and per-unit fixed cost. (Round your answers to the nearest whole dollar amount.)
A-6
S
The following costs are for Optical View Incorporated, a contact lens manufacturer: Output in Units Fixed Costs Variable Costs Total Costs 250 $ 4,750 $ 7,500 $ 12,250 300 4,750 9,000 13,750 350 4,750 10,500 15,250 400 4,750 12,000 16,750 Required: 2. For each level of output calculate the per-unit total cost, per-unit variable cost, and per-unit fixed cost. (IMAGE ATTACHED) 3. Using the results from requirement 2, graph the per-unit total cost, per-unit variable cost, and per-unit fixed cost. (Use the line tool to draw the per-unit total cost, per-unit variable cost, and per-unit fixed cost. To earn full credit for this graph you must plot all required points for each curve. While plotting the points a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed.)
Sandhill Company makes three models of tasers. Information on the three products is given below. Tingler Shocker Stunner Sales $296,000 $504,000 $200,000 Variable expenses 151,700 207,900 138,200 Contribution margin 144,300 296,100 61,800 Fixed expenses 117,800 231,800 95,000 Net income $26,500 $64,300 $(33,200) Fixed expenses consist of $300,000 of common costs allocated to the three products based on relative sales, as well as direct fixed expenses unique to each model of $29,000 (Tingler), $80,600 (Shocker), and $35,000 (Stunner). The common costs will be incurred regardless of how many models are produced. The direct fixed expenses would be eliminated if that model is phased out. James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income. (a) Compute current net income for Sandhill Company. Net income A
Ivanhoe Company makes three models of tasers. Information on the three products is given below. Tingler Shocker Stunner Sales $296,000 $504,000 $200,000 Variable expenses 151,100 203,300 138,600 Contribution margin 144,900 300,700 61,400 Fixed expenses 116,616 228,184 93,900 Net income $28,284 $72,516 $(32,500) Fixed expenses consist of $296,000 of common costs allocated to the three products based on relative sales, as well as direct fixed expenses unique to each model of $29,000 (Tingler), $79,000 (Shocker), and $34,700 (Stunner). The common costs will be incurred regardless of how many models are produced. The direct fixed expenses would be eliminated if that model is phased out.James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company’s net income.(a)Compute current net income for Ivanhoe Company. Net income $ (b)Compute net income by product line…
CVP single product; comprehensiveBeantown Baseball Company makes baseballs that sell for $13 per two-pack. Current annual production and sales are 960,000 baseballs. Costs for each baseball are as follows:Direct material$2.00Direct labor1.25Variable overhead0.50Variable selling expenses0.25Total variable cost$4.00Total fixed overhead$1,250,000a. Calculate the unit contribution margin in dollars and the contribution margin ratio for the company.Note: Round percentage to two decimal places (for example, round 32.5555% to 32.56%).Unit contribution margin in dollars $AnswerContribution margin ratio Answer%\\n
Paxton Company can produce a component of its product that incurs the following costs per unit: direct materials, $10.50; direct labor, $14.50, and incremental overhead $3.50. An outside supplier has offered to sell the product to Paxton for $37.00. Compute the net incremental cost or savings of buying the component. Multiple Choice $3.50 cost per unit $8 5 savings per unit. $0 cost or savings per unit $8.50 cost per unit. $3.50 savings per unit
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
Polaris Inc. manufactures two types of metal stampings for the automobile industry: door handles and trim kits. Fixed cost equals 146,000. Each door handle sells for 12 and has variable cost of 9; each trim kit sells for 8 and has variable cost of 5. Required: 1. What are the contribution margin per unit and the contribution margin ratio for door handles and for trim kits? 2. If Polaris sells 20,000 door handles and 40,000 trim kits, what is the operating income? 3. How many door handles and how many trim kits must be sold for Polaris to break even? 4. CONCEPTUAL CONNECTION Assume that Polaris has the opportunity to rearrange its plant to produce only trim kits. If this is done, fixed costs will decrease by 35,000, and 70,000 trim kits can be produced and sold. Is this a good idea? Explain.

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS