Unit variable costs and total fixed costs are expected to remain unchanged next quarter. Calculate the unit cost and the toal cost if 5,940 meals are served next quarter. (Round "unit costs" answer to 2 decimal places.) Sophia's Restaurant served 6,600 meals last quarter. Sophia recorded the following costs with those meals.Variable costs:Ingredients usedDirect laborIndirect materials and supplies$17,12013,7008,500Utilities4,900Fixed costs:Managers' salaries30,00026,000RentDepreciation on equipment (straight-line,time basis)10,000Other fixed costa11,148Required:Unit variable costs and total fixed costs are expected to remain unchanged next quarter. Calculate the unit cost and the total cost if5,940 meals are served next quarter. (Round "Unit costs" answer to 2 decimal places.)Total variable costsTotal fixed costsTotal costsUnit costs

Total variable costs for 6600 meals = Ingredients used + Direct labor + Indirect materials and…

Sophia's Restaurant served 6,600 meals last quarter. Sophia recorded the following costs with those meals. Variable costs Ingredients used Direct labor Indirect materials and aupplies Utilities Fixed costs: $17,120 13,700 8,500 4,900 Managers' salaries Rent Depreciation on equipment (straight-line, time basis) Other fixed costa 30,000 26,000 10,000 11,148 Required: Unit variable costs and total fixed costs are expected to remain unchanged next quarter. Calculate the unit cost and the total cost if 5,940 meals are served next quarter. (Round "Unit costs" answer to 2 decimal places.) Total variable costs Total fixed costs Total costs Unit costs

Sophia's Restaurant served 6,600 meals last quarter. Sophia recorded the following costs with those meals. Variable costs Ingredients used Direct labor Indirect materials and aupplies Utilities Fixed costs: $17,120 13,700 8,500 4,900 Managers' salaries Rent Depreciation on equipment (straight-line, time basis) Other fixed costa 30,000 26,000 10,000 11,148 Required: Unit variable costs and total fixed costs are expected to remain unchanged next quarter. Calculate the unit cost and the total cost if 5,940 meals are served next quarter. (Round "Unit costs" answer to 2 decimal places.) Total variable costs Total fixed costs Total costs Unit costs

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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A company has $25 per unit selling price, $7.00 per unit in variable production cost and $2.00 per unit in variable selling and administrative cost. The annual fixed production cost is $400,000. The annual fixed selling and administrative cost is $50,000. Complete the table below for each year. Assume a FIFO flow.
6. Craig Company Inc. earns a contribution margin ratio of 36% on its main product is sold at $120 per unit. Assume that the annual break-even point is 80,000 units. 1. Compute the annual total fixed costs. 2. What is the contribution margin for every unit sold beyond the break-even point? (Round your answer to 2 decimal places).
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19 )
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[The following information applies to the questions displayed below.] Alden Company's monthly data for the past year follow. Management wants to use these data to predict future variable and fixed costs. Month Units Sold Total Cost Month Units Sold Total Cost 1 324,500 $ 162,000 7 355,500 $ 245,564 2 169,500 105,750 8 274,500 156,250 3 269,500 210,100 9 75,100 60,500 4 209,500 104,500 10 154,500 135,125 5 294,500 206,000 11 6 194,500 116,500 12 98,500 104,500 98,500 77,150 Problem 18-1A (Algo) Part 1 1. Estimate both the variable costs per unit and the total monthly fixed costs using the high-low method. (Do not round intermediate calculations.) High-Low method - Calculation of variable cost per unit Total cost at the high point Variable costs at the high point: Volume at the high point: Variable cost per unit Total variable costs at the high point Total fixed costs High-Low method - Calculation of fixed costs Total cost at the low point Variable costs at the low point: Volume at the…
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