#items Şunit cost $unit retail $total cost $total MU% retail Style 1 Style 2 Style 3 10 $66 45% 15 $45 52% In addition to the two styles mentioned about, the dress department plans to purchase another style (i.e. Style 3) of 12 dresses to retail at $60 each. If the average markup goal on the total merchandise including all the three styles of dresses is 53%, what is the maximum unit cost the department buyer can pay to each dress of this new purchase (i.e. style 3)?|

#items Şunit cost $unit retail $total cost $total MU% retail Style 1 Style 2 Style 3 10 $66 45% 15 $45 52% In addition to the two styles mentioned about, the dress department plans to purchase another style (i.e. Style 3) of 12 dresses to retail at $60 each. If the average markup goal on the total merchandise including all the three styles of dresses is 53%, what is the maximum unit cost the department buyer can pay to each dress of this new purchase (i.e. style 3)?|

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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tudent question Time to preview question: 00 : 09 : 34 What should we price Fragrance at if we want to have a 45.6% margin. Account for unit cost, period expenses and overhead. The production cost is in the report. Ignore inventory carrying costs and assume period expenses and overhead is 50% of production cost. What should the price point be? Info given for Fragrance: Category Sales $28,413 Variable Costs Direct Material $11,755 Direct Labor $7,763 Inventory Carry $76 Total Variable Costs (Labor, Material, Carry) $19,594 Category Contribution Margin $8,819 Period Costs Depreciation $1,193 SG&A $0 R&D $970 Promotions $1,245 Sales $1,795 Administration $225 Total Period Costs $5,428 Net Margin $3,391 Current Price $38 Current Contribution Margin 31% Total units produced this year 748 Material cost per unit: $16.12 Labor cost per unit: 10.38 PRICING OPTIONS: 26.50 46.38 72.80 39.75 52.21 Please include all calculations
Ava Co. sells custom jewelry for $200. The variable cost per jewel is $160. Ava has fixed operating costs of $4,000. What is Ava's operating breakeven quantity of sales, in units? A. 150 units B. 120 units C. 90 units D. 100 units
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I. Cost Behavior and Estimation (HP 6) The owners of Mormont Co., Jorah and Lyanna, are expecting sales for August, 2019 to be 250,000 units. Information about Mormont's Sales and costs over the past three months, are as follows: Units Sold Sales Cost of Goods Sold Wage & Salary Expense Admin Expense May O 200,000 300,000 $3,450,000 $5,175,000 $1,575,000 $2,312,500 $950,000 $975,000 $1,300,000 $1,600,000 June July 500,000 $8,625,000 $3,787,500 $1,925,000 $2,500,000 Required: Based on the information provided, provide a projected income statement, using the contribution margin format. 5
MANUFACTORING Investigate % A packaging employee making $18 per hour can package 90 items during that hour. The direct material cost is $1.20 per item. What is the total direct cost of 1 item? A. $1.20 C. $1.40 o' F5 ^ F6 & F7 S F8 B. $0.20 a D. $1.00 DELL F9 I= ACC prtsc F10 home F11 end F12
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Oriental Furnitures makes three types of quality wooden furniture. Information for these three products are shown below: A1 A2 A3 Total Selling price per unit $200 $500 $1 000 Variable cost per unit $60 $250 $600 Expected unit sales (annual) 15,000 7,000 2,000 24,000 Sales mix 60 percent 30 percent 10 percent 100 percent Total annual fixed costs are $4,000,000. Assume the sales mix remains the same at all levels of sales. Required: SHOW YOUR WORKINGS FOR ALL SECTIONS Calculate the weighted average unit contribution margin, assuming a constant sales mix.
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Illustration 3- Economic Order Quantity Solution (EOQ) The Company is engaged in the sale of toys. The cost per order is PHP 1,000 and its carrying cost per unit is PHP25. The Company has a demand of 50,000 units per year. Determine the fT: Economic Order Quantity H 1 EOQ 2,000 units 2. Number of Orders Per Year 2 (50,000 units)(PHP 1,000) PHP 25 3. Total Ordering Costs Average inventory 4. 5. Total Carrying Costs Illustration 3- Economic Order Quantity The Company is engaged in the sale of toys. The cost per order is PHP 1,000 and its carrying cost per unit is PHP25. The Company has a demand of 50,000 units per year. Determine the ff: 1. Solution( Number of Orders Per Year) No. of Orders Per Year- Annual Quantity / EOQ EOQ No. of Orders= 50,000 units/ 2,000 units 2. Number of Orders Per Year 3. Total Ordering Costs No. of Orders= 25 orders 4. Average inventory 5. Total Carrying Costs Illustration 3- Economic Order Quantity The Company is engaged in the sale of toys. The cost per order…