Please provide solution this general accounting question Trish's Quilt Connection is an online company specializing in high-quality quilt frames andaccessories. Trish does not charge customers shipping charges for quilt frame orders. Shehas provided the following information:Month Quilt Frames Sold Shipping CostsJanuary 1,075February 780March 1,150April1,280$8,800$8,000$9,000$10,000Using the high-low method, estimate Trish's total variable and fixed costs are at if she sells1,280 frames for the month of May:a. Total variable cost $5,120; Total fixed cost $4,880=b. Total variable cost = $320; Total fixed cost = $9,680c. Total variable cost $10,000; Total fixed cost = $0d. Total variable coste. Total variable cost==$2,000; Total fixed cost = $8,000$7,500; Total fixed cost $500=

Step 1: Define Mixed CostA mixed cost is a cost item that does not stay the same in total when the…

Answered: Trish's Quilt Connection is an online…

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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Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the company’s mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: ■ If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. ■ If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. ■ If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. ■ If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next…
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The Fabric World sells fabrics to a wide range of industrial and consumer users. One of the products it carries is denim cloth, used in the manufacture of jeans and carrying bags. The supplier for the denim cloth pays all incoming freight. No incoming inspection of the denim is necessary because the supplier has a track record of delivering high-quality merchandise. The purchasing officer of the Fabric World has collected the following information: Annual demand for denim cloth 40,700 yards Ordering cost per purchase order $185 Carrying cost per year 10% of purchase costs Safety-stock requirements = None Cost of denim cloth $11 per yard The purchasing lead time is 2 weeks. The Fabric World is open 220 days a year (44 weeks for 5 days a week). Q. Calculate the EOQ for denim cloth.
The Fabric World sells fabrics to a wide range of industrial and consumer users. One of the products it carries is denim cloth, used in the manufacture of jeans and carrying bags. The supplier for the denim cloth pays all incoming freight. No incoming inspection of the denim is necessary because the supplier has a track record of delivering high-quality merchandise. The purchasing officer of the Fabric World has collected the following information: Annual demand for denim cloth 40,700 yards Ordering cost per purchase order $185 Carrying cost per year 10% of purchase costs Safety-stock requirements = None Cost of denim cloth $11 per yard The purchasing lead time is 2 weeks. The Fabric World is open 220 days a year (44 weeks for 5 days a week). Q. Calculate the number of orders that will be placed each year.
Fresh Paper Delivery has decided to analyze the profitability of five new customers. It buys recycled paper at $ 11 per case and sells to retail customers at a list price of $14.70 per case. Data pertaining to the five customers are: Customer 1 2 3 4 5 Cases sold 2,050 8,840 61,800 34,100 2,700 List selling price $14.70 $14.70 $14.70 $14.70 $14.70 Actual selling price $14.70 $14.50 $12.80 $14.18 $13.20 Number of purchase orders 16 22 39 31 34 Number of customer visits 3 2 7 4 4 Number of deliveries 18 32 69 40 34 Miles traveled per delivery 17 7 10 11 44 Number of expedited deliveries 0 0 0 0 3 pop-up content ends ctivity Cost Driver Rate Order taking $200 per purchase order Customer visits $50 per customer visit Deliveries $2 per delivery mile traveled Product handling $0.50 per case sold Expedited deliveries $310 per expedited…
A vendor specializing in outdoor gear offers customers three ways to place orders for home delivery. Customers can place orders either in the store, online, or via telephone using a catalog. Of the orders, one-half are made online with one-quarter each made in stores or via telephone. Of the online orders, 40% are only for clothing, 40% are only for camping supplies, and 20% are for both. For orders placed in the store, all are for clothing (to order a size that is not in stock). Among orders placed via telephone, 60% are only for clothing, 20% are only for camping supplies, and 20% are for both. Answer parts (a) and (b).
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