Sassa Company produces and sells rattan baskets. The number of driftsproduced are the corresponding total production costs for six months, which arerepresentatives for the year, are as follows:MonthUnits ProducedProduction CostsP 4,000AprilМay5007008,000June9006,0007,500JulyAugustSeptember6008008,5005507,250Solve for the variable and fixed cost component using Least- Squares Regressionmanually and not on excel.

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Answered: Sassa Company produces and sells rattan…

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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High Country, Incorporated, produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (per month) Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (per month) Required: 1. Assume that the company uses absorption costing. a. Calculate the unit product cost. b. Prepare an income statement for May. 0 2. Assume that the company uses variable costing. a. Calculate the unit product cost. b. Prepare a contribution format income statement for May. 40,000 35,000 $81 $4 $ 562,000 Management is anxious to assess the profitability of the new camp cot during the…
Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $10, direct labor $4, variable manufacturing overhead $6, fixed manufacturing overhead $13, variable selling and administrative expenses $5, and fixed selling and administrative expenses $13. Using a 40% markup percentage on total per unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.) Target selling price $
Hot'lanta, Inc., which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the company's utilities cost. The company's relevant range of activity varies from a low of 600 machine hours to a high of 1,100 machine hours, with the following data being available for the first six months of the year: Month Utilities Machine Hours January s8700 800 February 8360 720 March 8950 810 April 9360 920 May 9625 950 June 9150 900 1.The variable utilities cost per machine hour is: a) $0.18. b) an amount other than those listed above. C) $4.50. d) $5.00. e) $5.50. 2. The fixed utilities cost per month is: a) an amount other than those listed above. b) $4,760. c) $3,764. d) $5,100. e) $4,400.
Sunland Corporation produces outdoor portable fireplace units. The following cost information per unit is available: direct materials $20, direct labour $14, variable manufacturing overhead $17, fixed manufacturing overhead $24, variable selling and administrative expenses $9, and fixed selling and administrative expenses $16. The company's ROI per unit is $17. (a) Calculate Sunland Corporation's markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, e.g. 15.25%.) Markup percentage eTextbook and Media Save for Later % (b) The parts of this question must be completed in order. This part will be available when you complete the part above.
Monty Corporation produces microwave ovens. The following unit cost information is available: direct materials $36, direct labor $26, variable manufacturing overhead $19, fixed manufacturing overhead $44, variable selling and administrative expenses $15, and fixed selling and administrative expenses $20. Its desired ROI per unit is $30.40. Compute its markup percentage using a total-cost approach. (Round answer to 2 decimal places, e.g. 10.50%.) Markup percentage %
Use the following information for Short Exercises S21-2 and S21-3. Martin Company had the folowing costs: Computing unit product cost, absorption costing Calculate the unit product cost using absorption costing. Round your answer to the nearest cent.
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XYZ Company produces two models of wood chairs, A and B. The selling price per unit and the variable manufacturing cost per unit for model A are $240 and $140 respectively. The selling price per unit and the variable manufacturing cost per unit for model B are $320 and $152 respectively. The variable selling expense per unit for models A and B are $40 per unit and $48 per unit respectively. Assume that total fixed expenses are $158,400 per month and the expected monthly sales for models A and B are 7,200 units and 1,800 units respectively. If the sales mix and sales units are as expected, the break-even in sales ($) is: (round figures to the nearest number) Select one: а. 389,908 b. None of the given answers с. 262,632 d. 356,958 е. 563,200
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The company produced 4000 units in July. The production manager was asked to review these costs and provide her best guess as to how they should be categorized. She responded with the following information. Variable Costs Total Costs Material Costs 36000 50000 Labor Costs 54000 70000 Production Facilities cost 10000 16000 On the basis of above information, what is the estimated cost for 4250 units from the following? Select one: a. 145750 b. 158500 c. 142250 d. 152000
Bramble Corporation produces microwave ovens. The following unit cost information is available: direct materials $30, direct labor $24, variable manufacturing overhead $17, fixed manufacturing overhead $43, variable selling and administrative expenses $19, and fixed selling and administrative expenses $34. Its desired ROI per unit is $31. Compute the markup percentage using variable-cost pricing. (Round answer to 2 decimal places, e.g. 10.50%.) Markup percentage %
Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $12, direct labor $4, variable manufacturing overhead $9, fixed manufacturing overhead $10, variable selling and administrative expenses $5, and fixed selling and administrative expenses $12. Using a 45% markup percentage on total per unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.) Target selling price $

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