We have been asked to analyze our denim jeans line by labor cost (from $13.00 to $16.00 by $0.25) and salesprice (from $23.99 to $36.99 by $1.00).Fixed Cost = $133,050 Material cost per pair = $8.26Electricity cost per pair = $0.83 Quantity = 26,000What is the profit at the highest sales price and highest labor cost?$156,450$254,350$195,850O $176,350

Profit is the amount of money earned by an entity. It is computed by reducing the costs from the…

Answered: We have been asked to analyze our denim…

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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SHORT PROBLEMS. Answer the following problems. Show all solutions. 1. Liza’s On-Line Shop sells custom-made leather bags at a selling price that is 150% of the cost. If the markup is P325, find the 1.1 markup rate based on cost 1.2 cost 1.3 selling price 2. What is the cost of a shirt sold at P150 if the markup rate is 35% of the selling price? 3. What is the markup rate based on selling price if markup rate on cost is 10%? 4. Matt, the owner of B1 and B2 Fruit Stand knows that 10% of the bananas they bought from a wholesaler will spoil and will be thrown out. If he buys 200 kilos of bananas for P15 per kilo and he wants a markup of 40% based on selling price, how much is the selling price of 5 kilos of bananas?
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3. JJ Manufacturing builds and sells switch harnesses for glove boxes. The sales price and variable cost for each follows: Product Selling price per unit Variable cost per unit Trunk switch $60.00 $28.00 Gas door switch $75.00 $33.00 Glove box light $40.00 $22.00 Their sales mix is reflected in the ratio 4:4:1. What is the overall Composite Unit Contribution Margin for JJ Manufacturing with their current product mix? If annual fixed costs shared by the three products are $18,840, how many units of each product are to be sold in order for JJ Manufacturing to break even? Trunk Switch? Gas Door Switch? Glove Box Light? Determine their break-even point in sales dollars. Trunk Switch? Gas Door Switch? Glove Box Light?
Cole Company sells both designer and moderately priced fashion accessories. Top management is deciding which product line to emphasize. Accountants have provided the following data: (Click the icon to view the data.) Prepare an analysis to show which product the company should emphasize. (Enter the units displayed per square foot and the contribution marain per square foot to two decimal places.) Units displayed per square foot: Designer Moderately priced Contribution margin per unit Contribution margin per square foot of display space Capacity-Square feet of display space Total contribution margin at capacity Show Transcribed Text Data table CO Average sale price Average variable costs Average contribution margin Average fixed costs (allocated) Average operating income. Designer $ $ Ĉ Product Moderately Priced Per Item Designer Moderately Priced 210 $ 100 110 15 95 $ 85 21 64 5 59 The Cole Company store in Grand Junction, Colorado, has 15,000 square feet of floor space. If Cole…
Veritas is a startup that makes running t-shirts using high-tech fabric. The company has the following cost structure: Total cost = $50,000 + ($25 x number of t-shirts) The amount $50,000 is the: O Cost of Direct Material Cost of Good Sold O Fixed Cost O Overhead Rate O Total Variable Cost
We have been asked to analyze our denim jeans line by labor cost (from $13.00 to $16.00 by $0.25) and electricity costs (from 0.85 to 1.50 by 0.05). Fixed Cost = $184,000 Material cost per pair = $9.17 Revenue per pair = $29.99 Quantity = 27,500 If we are to be profitable, what must the electricity cost be if our labor cost is $13.25 per hour?
Bonita Industries has gathered the following information for one model of its hiking boots: Variable manufacturing costs Variable selling and administrative costs Fixed manufacturing costs Fixed selling and administrative costs Investment ROI Planned production and sales What is the total cost per pair of boots? O $118 O $54 O $166 $86 $80000 $40000 $190000 $120000 $1700000 30 % 5000 pairs
Sheen Co. manufactures a standard cabinet for a Blu-ray player. The variable cost per unit is $16. The fixed cost per unit is $9. The desired ROI per unit is $6. Compute the markup percentage on total unit cost and the target selling price for the cabinet.

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