Refer to the below table. If Sherry produces two pairs of earrings, her marginalcost isNumber ofEarringsTVC MC AVC TFC TC AFC ATC100509546.67300270O $45O $122.50O $40O $72.50O12 34 5

Ans. Marginal cost is the change in the total cost that arises when the production is increased by…

Answered: Refer to the below table. If Sherry…

Refer to the below table. If Sherry produces two pairs of earrings, her cost is Number of Earrings TVC MC AVC TFC TC AFC A 100 1 50 95 3 46.67 4 300 270

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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ABC Company sells clothes. They sold a coat for $100. It cost them $60 to get the coat from the manufacturer. Cost of Goods Sold would be: Group of answer choices $100 cannot be determined $40 $60
Leah Wells, a yoga instructor, started a company that sells athletic yoga clothing. You are Leah’s marketing manager. (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. After assessing the competitors, you determine that Leah needs to price her products with a markup percentage of 60%. The cost of her tank tops is $44 and her pullovers is $54. Determine the selling price for each of Leah’s clothing items. b. Leah is ready to launch her yoga pants. You have determined that she should set her price 30% below her competitor’s price of $124. Leah’s cost to produce yoga pants is $52 per unit. Determine the markup percentage on Leah’s yoga pants. c. Calculate the gross profit margin for tank tops, pullovers, and yoga pants. d. After a year, you determine that Leah should set a standard target margin percentage of 45% on all products. Determine the new prices for tank tops, pullovers, and yoga pants.
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Imperial Jewelers manufactures and sells a gold bracelet for $409.00. The company’s accounting system says that the unit product cost for this bracelet is $272.00 as shown below: Direct materials $ 148 Direct labor 85 Manufacturing overhead 39 Unit product cost $ 272 The members of a wedding party have approached Imperial Jewelers about buying 14 of these gold bracelets for the discounted price of $369.00 each. The members of the wedding party would like special filigree applied to the bracelets that would increase the direct materials cost per bracelet by $5. Imperial Jewelers would also have to buy a special tool for $457 to apply the filigree to the bracelets. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $6.00 of the…
Imperial Jewelers manufactures and sells a gold bracelet for $400.00. The company's accounting system says that the unit product cost for this bracelet is $275.00 as shown below: Direct materials $ 148 Direct labor 88 Manufacturing overhead 39 Unit product cost $ 275 The members of a wedding party have approached Imperial Jewelers about buying 17 of these gold bracelets for the discounted price of $360.00 each. The members of the wedding party would like special filigree applied to the bracelets that would increase the direct materials cost per bracelet by $11. Imperial Jewelers would also have to buy a special tool for $466 to apply the filigree to the bracelets. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $12.00 of the overhead is…