The Montreal Opera House has two types of seats: Regular seats and prime seats. The fixed costs sum up to $48,000. Below you find further relevant information: Regular Seats Prime Seats Sales Mix in Units 90% 10% Selling Price Unit CM CM Ratio $16 $6 37.5% $20 $10 50% The total manufacturing costs incurred for the year are $200,000. The overhead cost was 60% of the direct labor cost, and the direct materials cost was $25,000. Direct labor cost was
Q: Provide provide correct answer accounting....
A: Step 1: Introduction to standard costingStandard costing is a management accounting technique used…
Q: The attached picture is Lannister Salon's Comprehensive income for the years 2022-2023. Here are the…
A: The computations and classifications of accounts appear to be correct. The changes in each account…
Q: Provide answer this general accounting question
A: Step 1: Define Operating Cash FlowThe operating cash flow of a business is the cash it generated…
Q: Accounting
A: Step 1: Define Sales ReturnsSales returns and allowances account represents a contra revenue account…
Q: Please give me answer accounting....Bailey company reports
A: Step 1: Define Ratio AnalysisA firm's financial ratios Speak volumes about the firm's overall…
Q: Costs which are assignable beyond the splitoff point at which individual products emerge are called…
A: In cost accounting, there are several types of costs associated with the production process. These…
Q: Provide this question solution financial Accounting
A: Step 1: Define Time to DoubleThe time it takes for an investment to double in value can be found…
Q: What would be the amount debited to the work in process Inventory on these accounting question?
A: Step 1: Define Predetermined Overhead RatesThe manufacturing overhead cost debited to…
Q: 22.)
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: I need answer of this question general accounting
A: Step 1: Define CVP AnalysisCost volume profit analysis is a study of different levels of cost and…
Q: I need answer of this question financial Accounting....claire has invested
A: Step 1: Define Annualized rate of returnThe annualized rate of return is the percentage of return…
Q: During February, RDI Products manufactured 8,500 good sprinklers. The company incurred the following…
A: Step 1: Materials Variances 1.1 Aluminum Variances- Standard Price: $0.40/lb - Actual Price:…
Q: Need answer the accounting question
A: Step 1: Define Current RatioIn accounting, current ratio is the ratio of a firm's current assets to…
Q: Provide answer
A: Explanation of Gross Profit: Gross profit represents the difference between sales revenue and cost…
Q: Accounting Darter corporation uses the weighted overage the following information is available for…
A: Step 1:Computation of the units completed during January: Units completed during January = Units on…
Q: Exercise 6-10 (Algo) Sourcing Decisions [LO6-3] Futura Company purchases the 69,000 starters that…
A: Step 1:The financial advantage (disadvantage) of making the 69,000 starters instead of buying is…
Q: Please provide answer the accounting question
A: a) Computation of the company's total asset turnover: Formula: Return on Assets (ROA) = Profit…
Q: I need answer of this question accounting
A: Step 1: Define Degree Of Operating LeverageThe degree of operating leverage is a financial ratio…
Q: Calculate the net cash provided f accounting
A: Explanation of Net Cash from Operating Activities: Net cash from operating activities represents the…
Q: Need General Accounting Questions Solution provide the Correct answer what is final Answer
A: Step 1: Define Bank Reconciliation StatementA bank reconciliation consists of two parts; in the…
Q: SmartTech Electronics sells wireless earbuds at $80 per unit. The variable cost per unit is $35, and…
A: To determine the sales volume needed to achieve a target profit of $60,000 for SmartTech…
Q: I need answer of this question solution general accounting
A: Step 1: Define Ending InventoryEnding inventory refers to the total dollar amount of finished goods…
Q: Accounting
A: Step 1: Define Direct MaterialDirect material is those materials that go into making a product or…
Q: Financial Accounting
A: Step 1: Define Comprehensive IncomeNet income and unrealized income are both included in a company's…
Q: Please Provide Answer Of this General Finance Question
A: Explanation:The dealership sold 2 more cars than planned, which positively impacts revenue at the…
Q: Pleae fill all cells necessary!!! please help me. The Last column on the right, that is hidden, is…
A: In (a), the accounts affected are cash and notes payable. The ones in red or in blank spaces are…
Q: The image shown is my computation from peso value to percentage ratio of Lannister Comprehensive…
A: First, let's recheck the computation. The total income is indeed the sum of Service Revenue…
Q: Provide correct answer the accounting question
A: Step 1:Break even point is the point where there is no profit and loss situation. It means sales…
Q: I am Waiting for Answer of Accounting Questions
A: Step 1: Define Return On EquityReturn on equity shows the ratio between net income and equity. If…
Q: ANSWER
A: Explanation of Contractual Service Margin (CSM):The Contractual Service Margin represents the…
Q: A company is considering whether to adopt a new accounting standard that would require it to…
A: DefinitionsNew Accounting Standard:A new accounting standard refers to revised guidelines issued by…
Q: Need information
A: Detailed explanation:Benefits of increased segment disclosures : 1. Improved Transparency By making…
Q: subject: financial accounting
A: Step 1: Using the profit margin formula, solve for the net income.original profit margin formula:…
Q: Please give me correct answer gneral accounting...
A: Step 1:To calculate the debt-equity ratio, First calculate the Equity multiplier using the DuPont…
Q: Describe the answer with explanation
A: Explanation of Unwinding of Discount: The unwinding of discount refers to the gradual increase in…
Q: Condensed income statements for Prince Inc. for Year 1 and Year 2 follow. GAAP Tax Year 1 Year 2…
A: Explained above.
Q: If you give me wrong answer I will give you unhelpful rate on these accounting question
A: Step 1: Define Sales VarianceThe two causes of variance related to sales are price and volume. The…
Q: General Accounting Question pls need answer
A: Step 1: Define Credit TermsCredit terms are conditions indicated on an invoice which specify both…
Q: Financial Accounting
A: Step 1: Define Variable Overhead VariancesThe formulas used to calculate the variable overhead…
Q: Financial Accounting
A: The CAPM formula will be used here. The formula is: Expected return = risk free rate + beta*(market…
Q: GOODWILL IS____?
A: Explanation of Goodwill:Goodwill is an intangible asset that represents the excess of the purchase…
Q: I need answer of this question general accounting
A: Step 1: Define Variance AnalysisCompanies perform variance analysis to determine the source of…
Q: Manac
A: Material Quantity Variance:Standard quantity per unit = R20.00 ÷ R8.00 = 2.5 kgStandard quantity for…
Q: Accounting....
A: Step 1: Define Overhead AppliedOverhead Applied is a fixed rate applied for the production of the…
Q: If you give me wrong answer I will give you unhelpful rate on these general accounting question
A: Step 1: Define Stockholders EquityShareholders' equity can be calculated by adding the share capital…
Q: I want answer. Help me
A: Explanation of Contribution Margin: Contribution margin is the difference between total sales…
Q: 17 > AA - Assignment: Company Master Budget Question 1 of 1 education.wiley.com 0.13/1 E! Crane…
A: Gumm Required for ProductionEach Snare bag requires 5 pounds of Gumm.Bags to Produce for Quarter…
Q: Investment property under construction is measured at?
A: The correct answer is:a) Fair value if reliably measurable, otherwise costExplanation: According to…
Q: Please help, give me a detailed answer to this.
A: Initial Recognition of the Plant AssetThe plant asset is purchased for $5,488,000, and Sheridan…
Q: Help
A: Explanation of Appraised Value: Appraised value represents the estimated fair market value of a…
Provide ans with Steps
Step by step
Solved in 2 steps
- Crystal Pools estimates overhead will utilize 250,000 machine hours and cost $750,000. It takes 2 machine hours per unit, direct material cost of $14 per unit, and direct labor of $20 per unit. What is the cost of each unit produced?Remarkable Enterprises requires four units of part A for every unit of Al that it produces. Currently, part A is made by Remarkable, with these per-unit costs in a month when 4,000 units were produced: Variable manufacturing overhead is applied at $1.60 per unit. The other $0.50 of overhead consists of allocated fixed costs. Remarkable will need 8,000 units of part A for the next years production. Altoona Corporation has offered to supply 8,000 units of part A at a price of $8.00 per unit. If Remarkable accepts the offer, all of the variable costs and $2,000 of the fixed costs will be avoided. Should Remarkable accept the offer from Altoona Corporation?Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin is $25 per unit and $40 s used in direct labor, while the direct material for the double is $40 per unit, and the labor cost is $50 per unit. Box Springs estimates it will make 5,000 twins and 9,000 doubles in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?
- Bobcat uses a traditional cost system and estimates next years overhead will be $800.000, as driven by the estimated 25,000 direct labor hours. It manufactures three products and estimates the following costs: If the labor rate is $30 per hour, what is the per-unit cost of each product?Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs: If the labor rate is $25 per hour, what is the per-unit cost of each product?Jay-Zee Company makes an in-car navigation system. Next year, Jay-Zee plans to sell 16,000units at a price of $320 each. Product costs include: Direct materials $68Direct labor $40Variable overhead $12Total fixed factory overhead $500,000 Variable selling expense is a commission of 5 percent of price; fixed selling and administrativeexpenses total $116,400.Required:1. Calculate the sales commission per unit sold. Calculate the contribution margin per unit.2. How many units must Jay-Zee Company sell to break even? Prepare an income statementfor the calculated number of units.3. Calculate the number of units Jay-Zee Company must sell to achieve target operatingincome (profit) of $333,408.4. What if the Jay-Zee Company wanted to achieve a target operating income of $322,000?Would the number of units needed increase or decrease compared to your answer inRequirement 3? Compute the number of units needed for the new target operating income.
- RantauBags Company plans to sell 10,000 handbags at $400 each in the comingyear. Data on cost per handbag are as follows:Direct materials $80Direct labour $125Variable overhead $15Variable selling expense is a commission of 5 per cent of the sales price. Total fixedfactory overhead amounts to $800,000. Fixed selling and administrative expensetotalled $400,000.Required:1) Prepare a contribution margin income statement for RantauBags for the comingyear.2) What is the effect on RantauBags operating income if 13,000 units aremanufactured and sold next year? Show computation.3) Calculate the number of units RantauBags must sell to breakeven.4) Calculate the number of units RantauBags must sell to achieve a targetoperating income of $240,000.5) Calculate the margin of safety in sales ($) for the coming year.6) Discuss TWO benefits of manager's possessing the knowledge/understanding oncost-volume-profit analysis.Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs: Fixed Cost per Month Direct materials Direct labor $ 42,600 Supplies Utilities Depreciation Insurance $ 1,800 $ 14,600 $ 11,400 Required: Cost per Machine-Hour $ 5.40 $0.30 $ 0.10 For example, utilities should be $1,800 per month plus $0.10 per machine-hour. The company expects to work 4,100 machine-hours in June. Note that the company's direct labor is a fixed cost. Complete the company's planning budget for manufacturing costs for June.RantauBags Company plans to sell 10,000 handbags at $400 each in the coming year. Data on cost per handbag are as follows: Direct materials $80Direct labour $125Variable overhead $15Variable selling expense is a commission of 5 per cent of the sales price. Total fixed factory overhead amounts to $800,000. Fixed selling and administrative expense totalled $400,000. Required: (a) Prepare a contribution margin income statement for RantauBags for the coming year.(b) What is the effect on RantauBags operating income if 13,000 units are manufactured and sold next year? Show computation.(c) Calculate the number of units RantauBags must sell to breakeven.(d) Calculate the number of units RantauBags must sell to achieve a target operating income of $240,000.(e) Calculate the margin of safety in sales ($) for the coming year.(f) Discuss TWO benefits of manager's possessing the knowledge/understanding on cost-volume-profit analysis.
- Landor Appliance Corporation makes and sells electric fans. Each fan regularly sells for $42. The following cost data per fan is based on a full capacity of 150,000 fans produced each period. Direct materials Direct labor Manufacturing overhead (70% variable and 30% unavoidable fixed) $8 $9 $10 A special order has been received by Landor for a sale of 25,000 fans to an overseas customer. The only selling costs that would be incurred on this order would be $4 per fan for shipping. Landor is now selling 120,000 fans through regular channels each period. Assume that direct labor is an avoidable cost in this decision. What should Landor use as a minimum selling price per fan in negotiating a price for this special order?Head-First Company plans to sell 4,200 bicycle helmets at $67 each in the coming year. Product costs include: Direct materials per helmet $29 Direct labor per helmet 8.00 Variable factory overhead per helmet 5.00 Total fixed factory overhead 19,000 Variable selling expense is a commission of $4.00 per helmet, fixed selling and administrative expense totals $29,900. Required: 1. Calculate the total variable cost per unit 2. Calculate the total fixed expense for the year. 3. Prepare a contribution margin income statement for Head-First Company for the coming yearJay-Zee Company makes an in-car navigation system. Next year, Jay-Zee plans to sell 19,000 units at a price of $340 each. Product costs include: Direct materials $71.00 Direct labor $41.00 Variable overhead $10.00 Total fixed factory overhead $584,800 Variable selling expense is a commission of 4 percent of price; fixed selling and administrative expenses total $98,600.