Petrov Drycleaners has capacity to clean up 6,000 garments per mor Requirements 1. Complete the schedule below for the three volumes shown. 2. Why does the average cost per garment change? 3. Suppose the owner, Dennis Petrov, erroneously uses the average cost per unit at full capacity to predict total costs at a volume of 3,000 garments. Would he overestimate or underestimate his total costs? By how much? Requirement 1. Complete the following schedule for the three volumes shown. (Round all unit costs to the nearest cent and all total costs to the nearest whole dollar.) Total variable costs Total fixed costs Total operating costs Variable cost per garment Fixed cost per garment Average cost per garment 3,000 Garments $ $ 4,500 Garments 3,600 2.00 6,000 Garments

Petrov Drycleaners has capacity to clean up 6,000 garments per mor Requirements 1. Complete the schedule below for the three volumes shown. 2. Why does the average cost per garment change? 3. Suppose the owner, Dennis Petrov, erroneously uses the average cost per unit at full capacity to predict total costs at a volume of 3,000 garments. Would he overestimate or underestimate his total costs? By how much? Requirement 1. Complete the following schedule for the three volumes shown. (Round all unit costs to the nearest cent and all total costs to the nearest whole dollar.) Total variable costs Total fixed costs Total operating costs Variable cost per garment Fixed cost per garment Average cost per garment 3,000 Garments $ $ 4,500 Garments 3,600 2.00 6,000 Garments

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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This section has a nine-part comprehensive problem with multiple questions to address. Download the Chapter 9 Comprehensive Problem Template below to complete all parts. You will need your Bergevin and MacQueen book for reference. Redlands Inc. reported standard and actual costs for the product that it manufactures: Item Direct material price Direct materials quantity Direct labor price Direct labor quantity Factory overhead cost Machine hours per unit Number of finished products made Number of finished products sold Sales price per unit Standard $3 per lb. 2 lbs. $5 3 hours $2 per machine hour 2 machine hours 10 10 $40 Actual $2 per lb. 4 lbs. $7 2 hours 3 machine hours 12 11 $40
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Units Total Total Total Machine Produced Lumber Cost Utilities Cost Depreciation Cost 11,000 shelves $132,000 $13,650 $125,000 22,000 shelves 264,000 26,300 125,000 44,000 shelves 528,000 51,600 125,000 55,000 shelves 660,000 64,250 125,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Variable Cost Fixed Cost Mixed Cost None of these Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N= Number of Units Produced, Total Costs =…
how many units of each item should company produce to maximize profit? please solve using solver. previous expert answer is incorrect. Given: Total fabric available: 7700 m2 Total labour hours available: 2, 000 € Skirts Maximum units that can be produced: 1500 Profit per unit: 38 €. Fabric required per unit (m2): 3. Direct Labor required hours per unit: 0.5 Blouses Maximum units that can be produced: 2000 Profit per unit: 28 € Fabric required per unit (m2): 2. Direct Labor required hours per unit: 0.5 Scarves Maximum units that can be produced: 1000 Profit per unit: 17.5 €. Fabric required per unit (m2): 1. Direct Labor required hours per unit: 0.25
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Show your solution in good accounting form Using the high-low method, how much is the total cost of producing 130 grams of honey?
Shanghai Company sells glasses, fine china, and everyday dinnerware. It uses activity-based costing to determine the cost of the shipping and handling activity. The shipping and handling activity has an activity rate of $6 per pound. A box of glasses weighs 2 pounds, a box of fine china weighs 4 pounds, and a box of everyday dinnerware weighs 6 pounds.
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Shanghai Company sells glasses, fine china, and everyday dinnerware. They use activity-based costing to determine the cost of the shipping and handling activity. The shipping and handling activity has an activity rate of $5 per pound. A box of glasses weighs 2 lbs, the box of china weighs 4 lbs, and a box of everyday dinnerware weighs 6 lbs. Round answers to nearest whole dollar. a Determine the shipping and handling activity for each product. Glasses $fill in the blank 1 China $fill in the blank 2 Everyday dinnerware $fill in the blank 3 b Determine the total shipping and receiving costs for the china if 2,000 boxes are shipped.$fill in the blank 4