The Fraternity of Future Fire Fighters sold bottled water at the festival. They paid a $40 booth fee and they spent $40 at the grocery store for 200 bottles of water. With so manybottles on hand, they decided to spend $10 on styrofoam coolers and $10 on loe, in order to keep the water cold while they worked in the booth. What is their unit cost?O $0.10O $0.20O $0.30$0.40O $0.50$1.00All of the aboveO None of the above

Product cost refers to all cost incurred in manufacturing or procuring the product.

Answered: The Fratemity of Future Fire Fighters…

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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You work for a sprinkler manufacturing company. You want to propose the manufacturing of a new type of sprinkler head. The manufacuring process has a fixed annual cost of $750,000. If you want to charge $275 per sprinkler head, and each sprinkler head costs $205 to manufacture, how many sprinkler heads will you need to sell in order to break even? 9,882 sprinkler heads 10,715 sprinkler heads 7,515 sprinkler heads 15,312 sprinkler heads
H1.
3. Bill Braddock is considering opening a Fast 'n Clean Car Service Center, He estimates that the following costs will be incurred during his first year of operations: Rent $9,200, Depreciation on equipment $7,000, Wages $16,400, Motor oil $2.00 per quart. He estimates that each oil change will require 5 quarts of oil. Oil filters will cost $3.00 each. He must also pay The Fast 'n Clean Corporation a franchise fee of $1.10 per oil change, since he will operate the business as a franchise. In addition, utility costs are expected to behave in relation to the number of oil changes as follows: Number of Oil Changes 4,000 6,000 9,000 Utility Costs $ 6,000 $7,300 $ 9,600 12,000 $12,600 $15,000 14,000 Bill Braddock anticipates that he can provide the oil change service with a filter at $25 each. Instructions: (a) Using the high-low method, determine variable costs per unit and total fixed costs. (b) Determine the break-even point in number of oil changes and sales dollars. (c) Without regard…
4. The KLK Clothing Company manufactures professionals clothing for women. In order to keep costs low while still producing quality clothes, KLK conducts many research and development projects. On a current project KLK researchers used P35,000of cotton and P27,000 of wool from its inventory. KLK paid its researchers P30,000 in wages and purchased ed a special weaving machine for P60,000 cash. The machine was not suitable for use in production activities and was not expected to be used in other research projects. In addition, depreciation of the project's research lab amounted to P20,000. Required Prepare the joumal entry to record KLK's research and development costs.
displaying at a craft fair, a representative of a mail order catalog company wants to put your product in the catalog. It will pay you $40 and mark up the product to $55 for the catalog. It estimates that your market share could be substantial and should be dependent only on your production output. You decide to quit your real job and devote all your time to making wreaths, but you want to match your current $50,000 salary. You really don’t want to work more than 40 hours per week in actual wreath manufacturing (assume all paperwork, material purchasing, and such takes place beyond those 40 hours). You want four weeks a year for vacation, holidays, and sick days or personal days. Taking into consideration time constraints, the price you will get from the catalog company, and your revised costs, does this make sense? Assume each wreath has $5 costs and takes one hour to construct.
Please don't give image based answer..thanku
I own a Supercuts barber shop. Up to 12 people an hour want to come get haircuts, which I charge $20 each for. I have 1 cashier that can process 20 people an hour. I have 2 barbers who can process 3 people an hour each (so 6 people an hour total). I pay barbers $17 an hour and cashiers $11 an hour. If I can't change demand, and I can hire as many people as I want, what is my maximum profit per hour? Round to the nearest dollar, and don't enter a dollar sign (so if your answer is $443.363, round to 443)
7)Corp is holding a fundraising banquet. He has two options for the banquet: OPTION one: a. Fixed rental cost of $1,000 b. $12 per person for food OPTION two: a. Fixed rental cost of $3,000 b. A caterer who charges $8.00 per person for food It has budgeted $1,800 for administrative and marketing expenses. He will hire a band which will cost another $800. Tickets will be $30 per person. Which option provides the greatest operating income if 600 people attend? 8) How many people would need to attend such that the costs for the two options are the same?
E4
How would I find the effect on the total cost
please answer do not image.
Joey Bag-o-donuts owns an ice cream shop. Looking at last year's utility bills, the highest utility bill was $4000 for 2000 machine hours. The lowest utility bill was $2500 for 1200 machine hours. Calculate the variable rate per machine hour and the total fixed utility cost. Show the equation for determining total utility costs. If Joey plans on using 1500 machine hours, what will the total utility bill be using the equation in part 2.

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