solve properly all steps and check answer ..with explanantion.. i will give upvote Textile Crafts Company (TCC) sells craft kits and supplies to retail outlets and through online sites such as Etsy.com. Some of the itemsare manufactured by TCC, while others are purchased for resale. For the products it manufactures, the company currently bases itsselling prices on a product-costing system that accounts for direct material, direct labor, and the associated overhead costs. In additionto these product costs, TCC incurs substantial selling costs, and Roger Jackson, controller, has suggested that these selling costsshould be included in the product pricing structure.After studying the costs incurred over the past two years for one of its products, skeins of knitting yarn, Jackson has selected fourcategories of selling costs and chosen cost drivers for each of these costs. The selling costs actually incurred during the past year andthe cost drivers are as follows:Cost CategorySales commissionsPay-per-click/Search engine optimizationCost of online salesCredit and collectionTotal selling costsOrder SizeSmallMediumLargeThe knitting yarn is sold to retail outlets in boxes, each containing 12 skeins of yarn. The sale of partial boxes is not permitted.Commissions are paid on sales to retail outlets but not on online sales. The cost of online sales includes technology infrastructurecosts and the wages of personnel who process the online orders. Jackson believes that the selling costs vary significantly with the sizeof the order. Order sizes are divided into three categories as follows:Retail SalesOnline Sales1 to 10 skeins1 to 10boxes11 to 20 skeinsOver 20 skeins11 to 20 boxesOver 20 boxesAn analysis of the previous year's records produced the following statistics.ItemsRetail sales boxes (12 skeins per box)Online sales, skeinsNumber of retail ordersNumber of onlineSmall6,00096,000655268,175Sales commissionsPay-per-click/Search engine optimizationCost of online salesCredit and collectionTotal cost for all orders of a given sizeUnits (skeins) soldUnit cost per order of a given sizeAmount$814,500453,240158, 20099,900$ 1,525,840$SmallOrder SizeMedium70,50069,0003,265280,525Required:1. Prepare a schedule showing TCC's total selling cost for each order size and the per-skein selling cost within each order size.Note: Round your intermediate calculations and unit cost per order to 2 decimal places.TEXTILE CRAFT COMPANYComputation of Selling CostsBy Order Size and Per Skein Within Each Order SizeCost DriverBoxes of yarn sold to retail storesNumber of online leadsSkeins sold onlineNumber of retail orders0 $Large195,00061,0007,180206,700Medium? Management may want to consider offering discounts for large orders.7 Small orders are preferable to medium sized orders.7 Large orders are preferable to medium sized orders.7 Marketing should be focused on small sized orders.Order SizeTotal271,500226,00011,100755,40010 SLarge$0 $Total000002. An analysis of selling costs shows:Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correctanswer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a questionmark will be automatically graded as incorrect. Check my work is not available.

Activity-Based Costing (ABC) is a costing methodology that assigns overhead costs to specific…

Textile Crafts Company (TCC) sells craft kits and supplies to retail outlets and through online sites such as Etsy.com. Some of the items are manufactured by TCC, while others are purchased for resale. For the products it manufactures, the company currently bases its selling prices on a product-costing system that accounts for direct material, direct labor, and the associated overhead costs. In addition to these product costs, TCC incurs substantial selling costs, and Roger Jackson, controller, has suggested that these selling costs should be included in the product pricing structure. After studying the costs incurred over the past two years for one of its products, skeins of knitting yarn, Jackson has selected four categories of selling costs and chosen cost drivers for each of these costs. The selling costs actually incurred during the past year and the cost drivers are as follows:

Textile Crafts Company (TCC) sells craft kits and supplies to retail outlets and through online sites such as Etsy.com. Some of the items are manufactured by TCC, while others are purchased for resale. For the products it manufactures, the company currently bases its selling prices on a product-costing system that accounts for direct material, direct labor, and the associated overhead costs. In addition to these product costs, TCC incurs substantial selling costs, and Roger Jackson, controller, has suggested that these selling costs should be included in the product pricing structure. After studying the costs incurred over the past two years for one of its products, skeins of knitting yarn, Jackson has selected four categories of selling costs and chosen cost drivers for each of these costs. The selling costs actually incurred during the past year and the cost drivers are as follows:

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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