Vernon Boat Company makes inexpensive aluminum fishing boats.Production is seasonal, with considerable activity occurring in thespring and summer. Sales and production tend to decline in the fall andwinter months. During year 2, the high point in activity occurred in Junewhen it produced 205 boats at a total cost of $163,890. The low pointin production occurred in January when it produced 38 boats at a totalcost of $52,000.Requireda. Use the high-low method to estimate the amount of fixed costincurred each month by Vernon Boat Company.b. Determine the total estimated cost if 110 boats are made.a. Fixed costb. Total estimated cost

The high-low method is used to differentiate the mixed costs. Mixed cost is the combination of fixed…

Answered: Vernon Boat Company makes inexpensive…

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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Memofax Inc. produces memory enhancement kits for fax machines. Sales have been very erratic, with some months showing a profit and some months showing a loss. The company's contribution format income statement for the most recent month is given below. Sales (12,600 units at $40 per unit $504,000 Variable 202.40 *
Materials (pounds) 5. Clark, Inc., sells one of its products for $150 each. Sales volume averages 800 units per year. Recently, its main competitor reduced the price of its product to $130. Clark expects sales to drop dramatically unless it matches the competitor's price. In addition, the current profit per unit must be maintained. Information about the product (for production of 800) is as follows: Labor (hours) Setups (hours) Material handling (moves) Warranties (number repaired) Total Required: a. C. SQ 14,400 2,000 O O 0 O b. Calculate the non-value-added cost per unit. AQ 15,000 2.400 1,400 600 400 Actual Cost $30,000 18,000 8,000 4,000 20,000 80000 Calculate the target cost for maintaining current market share and profitability. If non-value-added costs can be reduced to zero, can the target cost be achieved?
Western Trucking operates a fleet of delivery trucks. The fixed expenses to operate the fleet are $70,557 in March and rose to $90,644 in April. It costs Western Trucking $0.61 per mile in variable costs. In March, the delivery trucks were driven a total of 81,549 miles, and in April, they were driven a total of 96,989 miles. Using this information, answer the following: What were the total costs to operate the fleet in March? Round to the nearest whole dollar, no decimals.
need help please
Western Trucking operates a fleet of delivery trucks. The fixed expenses to operate the fleet are $80,910 in March and rose to $93,120 in April. It costs Western Trucking $0.14 per mile in variable costs. In March, the delivery trucks were driven a total of 87,000 miles, and in April, they were driven a total of 97,000 miles. Using this information, answer the following: A. What were the total costs to operate the fleet in March and April, respectively? March April Total cost $fill in the blank 1 $fill in the blank 2 B. What were the cost per mile to operate the fleet in March and April, respectively? If required, round your answers to nearest cent. March April Cost per mile $fill in the blank 3 $fill in the blank 4
ewer D) Portis, Inc. reported sales of $8,000,000 for the month and incurred variable totaling $5,600,000 and fixed expenses totaling $1,440,000. The company has no beginning or ending inventories. A total of 80,000 units were produced and sold last month. (Note that this is the same data that was provided for the previous question.) How many units would the company have to sell to achieve a desired profit of $1,200,000? expenses 88,000 A) 100,000 B) 106,668 C) 150,000 D) Inn renorted sales of $8.000,000 for the month and incurred variable expenses nu hor no
Pena Co. manufactures concert merchandise. During the most productive month of the year, 6,000 hoodies were manufactured at a total cost of $161,600. In its slowest month, the company made 2,800 hoodies at a cost of $104,000. Using the high-low method of cost estimation, total fixed costs are: $53,600 $28,600 $58,000 Cannot be determined from the data given
Po.25.
Whipple Company has sales revenue of $585,000. Cost of goods sold before adjustment is $335,000. The company uses machine hours to allocate manufacturing overhead and estimated 10,450 machine hours would be used during the year. For the year, manufacturing overhead was under-allocated by $13,400. The company's actual manufacturing overhead is $91,000. What is the actual gross profit? Select one: a. $250,000 b. $159,000 c. $236,600 d. $104,400 e. $263,400
Vinubhai
Need help with this problem (number 27). Need help with the blank data. Thanks!

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