Toys Inc. manufacturers toy robots. Financial data for the manufacturing operations of Toys Inc. for the past year are provided in the table below. This data are also available in this excel worksheet: High low.xlsx Month Number of units Total costs ($) Jan 160 24 17,200 Feb 310 %24 24,000 Mar 335 24,500 2$ 24 Apr 272 22,800 May 165 17,000 Jun 185 17,900 Jul 300 24 23,650 Aug 125 2$ 15,300 Sep 370 %24 25,900 Oct 130 15,600 Nov 290 23,750 Dec 232 19,050 Normal manufacturing capacity of the factory is 250 units. When monthly demand exceeds normal capacity, Toys Inc. has been leasing a machine at a cost of $4,000 per month (the machine increases potential output to 400 units), and also receives a bulk discount on all raw materials purchases for monthly production. Using high-Low analysis, calculate the discount per unit that Toys Inc. receives when raw materials are purchased for more than 250 units in a month. Enter your answer to 2 decimal places.

Toys Inc. manufacturers toy robots. Financial data for the manufacturing operations of Toys Inc. for the past year are provided in the table below. This data are also available in this excel worksheet: High low.xlsx Month Number of units Total costs ($) Jan 160 24 17,200 Feb 310 %24 24,000 Mar 335 24,500 2$ 24 Apr 272 22,800 May 165 17,000 Jun 185 17,900 Jul 300 24 23,650 Aug 125 2$ 15,300 Sep 370 %24 25,900 Oct 130 15,600 Nov 290 23,750 Dec 232 19,050 Normal manufacturing capacity of the factory is 250 units. When monthly demand exceeds normal capacity, Toys Inc. has been leasing a machine at a cost of $4,000 per month (the machine increases potential output to 400 units), and also receives a bulk discount on all raw materials purchases for monthly production. Using high-Low analysis, calculate the discount per unit that Toys Inc. receives when raw materials are purchased for more than 250 units in a month. Enter your answer to 2 decimal places.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Want the Correct answer
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 6,400 Selling price per unit $| 600 Unit cost of goods sold $ 416 Variable selling expense per unit $ | 56 Total fixed selling expense $ 125,900 Variable administrative expense per unit | $| 24 Total fixed administrative expense $| 207,800 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income statement for July.
The annual data that follow pertain to Carl's Crazy Eyewear, a manufacturer of swimming goggles. (Carl's Crazy Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Read the requirements. Data table Number of goggles produced Number of goggles sold Sales price per unit Variable manufacturing cost per unit Sales commission cost per unit Fixed manufacturing overhead Fixed selling and administrative costs Print Done $ 235,000 195,000 30 7 3 940,000 230,000 Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Carl's Crazy Eyewear for the year ended December 31. 2. Which statement shows the higher operating income? Why? 3. Carl's Crazy Eyewear's marketing vice president believes a new sales promotion that costs $360,000 would increase sales to 225,000 goggles. Should the company go ahead with the promotion? Give your reasoning. Print Done - X ember 31. (Round intermediary
Family Fun Time, Inc. makes board games. The following data pertains to the last six months: Manufacturing Overhead Direct Labor Hours 45,000 63,000 57,000 Month 1 Month 2 Month 3 Month 4 Month 5 $247,250 $178,200 $165,500 Month 6 Based on this data, what is the linear cost equation? (Round intermediary calculations to the nearest cent. Use the "high" data month to calculate your final answer. Do not use the "low" month, as it will result in an approximation of the cost.) 52,000 34,000 24,000 O A. y = $0.26X + $152,500 O B. y = $5.40X + $33,100 O C. y = $3.91X + $71,670 O D. Cannot be determined from information given. $295,000 $318,000 $323,000
Subject: accounting
.
Bag Teeth manufactures dental supplies & equipment. Bag Teeth Acts Total sales for year 2022 is $1,587,560 cost of goods sold & gross margin Calculate Inventory: Finished Goods, Jan. 01 Work in process, Jan.ol Raw Materials, Jan. 01 31 Raw materials purchased Raw Materials, Dec Workin Process, Dec. 31 Finished Goods, Dec. 31 other Factory Expenses: Factory Supervisor salary Equipment repairs Plant utilities plant property tax Assembly employees info: # of employees. Wages per Daily hours hour Annual total days work per employee 552,000.00 165,000.00 Calculate 16,500.00 28,000.00 15,000.00 21,000.00 465,000.00 the total overhead cost? 45,000.00 15,500.00 13,500.00 11,500.00 18. 18.50 8 260 mufacturing manu
Need help with this question
1. How much is the raw materials used in production? 2. How much is the total manufacturing cost? 3. How much is the cost of goods manufactured? 4. How much is the cost of good sold? 5. How much is the gross income?
Strait Co. manufactures office furniture. During the most productive month of the year, 3,200 desks were manufactured at a total cost of $84,500. In the month of lowest production, the company made 1,170 desks at a cost of $55,500. Using the high-low method of cost estimation, total fixed costs are a.$84,500 b.$55,500 c.$29,000 d.$38,772