Week Units Total Etching Cost 1... $ 18 2.. 3 17 3.. 25 4.. 20 5... 24 6.. 2 16 30 $120
Q: Life-cyde product costing, Activity-based costing OPQ Products makes digital watches. OPQ is…
A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…
Q: Cullumber, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can…
A: Financial advantage (disadvantage) of buying is the difference between total cost to make and total…
Q: Speedy Bikes currently manufactures the bike saddles it uses for the bicycles it builds at its…
A: Total Costs = $ 80,000 Total Saddles produced = 5,000 Cost per Saddle = $ 80,0005,000…
Q: ! Required information George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom…
A: Total etching cost comprises total variable cost and total fixed cost. Variable cost per unit is…
Q: Q.Identify the cost hierarchy level for each cost category
A: Cost Hierarchy: It refers to a classification of the cost of the company with respect to activity…
Q: Determining the Optimal Product Mix with One Constrained Resource and a Sales Constraint Casual…
A: Explanation: 1. Contribution margin per hour of machine time for each type of team shirts Homerun…
Q: The Gourmand Cooking School runs short cooking courses at its small campus. Management has…
A: The flexible budget performance report compares the actual abd budgeted cost data. The variance can…
Q: Pyson company produces air-purifier fan B177 model. This model is the best seller with expected…
A: Incremental analysis is a technique of decision making to determine the true cost difference between…
Q: pre.3
A: The objective of this question is to calculate the actual and budgeted Manufacturing Overhead (MOH)…
Q: Ferry Electronics produces a wide variety of video and audio systems for home entertainment. One of…
A: Direct material cost is the cost of raw material produced or purchased to produce the final…
Q: Carson Construction Consultants performs cement core tests in its Greenville laboratory. The…
A: Answer - Memo providing Proper explanation is given under. Standard costs are usually associated…
Q: Elizabeth, the manager of Sage Hill, is analyzing the company's MOH costs from last year. Sage Hill…
A: PREDETERMINED OVERHEAD RATEPredetermined rate means the indirect cost rate.Predetermined overhead…
Q: Lead Time Pockets Inc. manufactures cargo pants in the cutting and sewing process. Cargo pants are…
A: Value-added activities are those that directly contribute to the creation or enhancement of a…
Q: Determining the Optimal Product Mix with One Constrained Resource and a Sales Constraint Casual…
A: In case of resource constraint like machine hours, product which provided highest contribution…
Q: After reviewing the new activity-based costing system that Nancy Chen has implemented at IVC's…
A: ABC seems to be a costing approach that identifies activities in an organization and allocates the…
Q: Jackson Fabricators Inc. machines metal parts for the automotive industry. Under the traditional…
A: Working: 1. Value added time = Minutes in milling + Minutes in finishing…
Q: Please show all work step by step including formulas.. not using excel. must show work.
A: Step 1: Calculate the annual profit for each processFor each process (Vacuum forming, Pressure…
Q: Alyeski Tours operates day tours of coastal glaciers in Alaska on its tour boat the Blue Glacier.…
A: A flexible Budget can be prepared using the budgeted data based on the actual cost drivers.
Q: 2 George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small…
A: Cost Management Cost management is the process of planning and controlling the costs of running a…
Q: Outdoor Luggage, Incorporated, makes high-end hard-sided luggage for sports equipment. Data…
A: The contribution margin is a product's selling price minus all associated variable…
Q: total etching cost
A: Fixed costs are the costs that remain fixed no matter the production. Variable costs, on the other…
Q: Determining the Optimal Product Mix with One Constrained Resource Comfy Fit Company manufactures…
A: Contribution margin: It is the surplus achieved by a business after meeting all the variable costs…
Q: Simplifying the ABC System: DBC Electan Company produces two types of printers. The company uses…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…
Q: Vermont Instruments manufactures two models of calculators. The finance model is the Fin-X and the…
A: Cost per unit = Material (Parts) Cost per unit + Conversion Costs (Direct Labor + Indirect Materials…
Q: i-Qua group is a drinking water factory in US. As the business progresses, demand is increasing in…
A: Total cost = Total Fixed cost + Total Variable cost Total variable cost = (Material cost/box + labor…
Q: George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots.…
A: The least-squares regression method is a statistical technique used to determine the line of best…
Q: Required information George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom…
A: 2-a.The Variable Etching cost per unit is $1.06. The Fixed Etching Cost per week is $9.29. 2-b. Y =…
Q: Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant…
A: Direct labor cost is calculated by multiplying direct labor hours by direct labor rate. Direct labor…
Q: Which of the following is an example of information that a project manager should include when…
A: Lesson learned during a project means knowledge gained while conducting a project.
Q: George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots.…
A: CVP analysis, or cost-volume-profit analysis, is a management accounting technique used to analyze…
Q: exercise can you help me with the solution? Huron Company produces a cleaning compound known as…
A: Step 1: 1) Materials price and quantity variances for the monthStandard and Actual direct materials…
Q: Corsair uses an activity-based system and classifies overhead into three activity pools: Setup,…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant…
A: Direct costs are the expenses that are directly used for the production of goods and services for…
Q: Northern Defense manufactures radar systems. It has just completed the manufacture of its first…
A: Learning curve is the process by which an individual acquires skill, knowledge and ability. When a…
Q: Jobs, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan a…
A: This question is related to the Make and Buy Decision, in which the cost manager compares the making…
Q: Based on the above information, how much would Basil save annually if it manufactured in house the…
A: Currently, Basil purchases 12,000 sensors annually for $98.50 each, for a total cost of:…
Q: Approximately Relevant ABC Silven Company has identified the following overhead activities, costs,…
A: Manufacturing overhead: It is the expense incurred as a result of the production process. These…
Q: Current Designs faces a number of important decisions that require incremental analysis. Recently,…
A: Businesses can assess the financial viability of accepting a one-time or special order from a client…
Q: Trombly Travel Products (TTP) manufactures and sells travel bags and accessories. TTP produces…
A: SCHEDULE OF COST OF GOODS MANUFACTUREDSchedule Of Cost Of Goods Manufactured are those Cost Which is…
Q: The table below shows information on the material cost, demand and production hours for parts in a…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Determine the actual MOH rate and the budgeted MOH rate Metlock would have used last year under…
A: Predetermined rate means the indirect cost rate. It is a rate that is used to allocate estimated…
Q: George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots.…
A: Regression analysis is a statistical method used to analyze the relationship between two or more…
Least-Squares Regression
George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company’s products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks:
For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week.
Required:
1. Prepare a scattergraph plot. (Plot etching costs on the vertical axis and units on the horizontal axis.)
2. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. Express these estimates in the form Y = a + bX.
3. If the company processes five units next week, what would be the expected total etching cost? (Round your answer to the nearest cent.)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 7 images
- Determining the Optimal Product Mix with One Constrained Resource and a Sales Constraint Casual Essentials, Inc. manufactures two types of team shirts, the Homerun and the Goalpost, with unit contribution margins of $5 and $15, respectively. Regardless of type, each team shirts must be fed through a stitching machine to affix the appropriate team logo. The firm leases seven machines that each provides 1,000 hours of machine time per year. Each Homerun shirt requires 6 minutes of machine time, and each Goalpost shirt requires 30 minutes of machine time. Assume that a maximum of 49,830 units of each team shirts can be sold. Required: If required, round your answers to the nearest whole number. 1. What is the contribution margin per hour of machine time for each type of team shirts? Contribution Margin Homerun $fill in the blank 1 Goalpost $fill in the blank 2 2. What is the optimal mix of team shirts? Optimal Mix Homerun fill in the blank 3 units Goalpost fill in…Required information George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Total Etching Week Units 1 13 Cost $ 24 2 11 21 3 16 31 4 15 25 5 18 31 6 18 32 91 $ 164 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Required: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bx. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Express these estimates in the form Y = a + bx. Note: Round your answers to 2 decimal places. Y =Compute Lead Time Jackson Fabricators Inc. machines metal parts for the automotive industry. Under the traditional manufacturing approach, the parts are machined through two processes: milling and finishing. Parts are produced in batch sizes of 80 parts. A part requires 2 minutes in milling and 6 minutes in finishing. The move time between the two operations for a complete batch is 7 minutes. Under the lean philosophy, the part is produced in a cell that includes both the milling and finishing operations. The operating time is unchanged; however, the batch size is reduced to 5 parts and the move time is eliminated. Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the traditional and lean manufacturing methods. If required, round percentages to one decimal place. Traditional Philosophy Lean Manufacturing Philosophy Value-added time min min Non-value-added time min min Total lead time min min Value-added ratio (as a percent) % 0%
- Preparing a Standard Cost Card -Redwing EXO-7 Industries manufactures a Redwing reconnaissance drone. The following information pertains to its manufacturing costs. To make one redwing unit it takes 2 pounds of titanium and 0.5 pounds of carbon fiber. The company expects 0.01 pounds of waste for titanium and 0.02 waste for the carbon fiber materials. Titanium costs are anticipated at $10.25 per pound and carbon fiber costs are anticipated at $5.25 per pound. A 1% discount is offered to EXO-7 Industries from its suppliers. The redwing unit requires two labor processes to complete it -assembly and programming. Assembly laborers are paid $17 per hour and programming laborers are paid $27 per hour. Fringe benefits and payroll taxes for assembly and programming laborers amount to $1.75 and $5.25 per hour, respectively. Based on the company’s experience and research, it expects to use 5.0 hours of assembly and 10 hours of programming. The company uses direct labor hours as…Determining the Optimal Product Mix with One Constrained Resource Casual Essentials, Inc. manufactures two types of team shirts, the Homerun and the Goalpost, with unit contribution margins of $11 and $15, respectively. Regardless of type, each team shirts must be fed through a stitching machine to affix the appropriate team logo. The firm leases seven machines that each provides 1,000 hours of machine time per year. Each Homerun shirt requires 6 minutes of machine time, and each Goalpost shirt requires 30 minutes of machine time. Assume that there are no other constraints. Required: If required, round your answers to the nearest whole number. If an amount is zero, enter "0". 1. What is the contribution margin per hour of machine time for each type of team shirts? Contribution Margin Homerun $fill in the blank 1 Goalpost $fill in the blank 2 2. What is the optimal mix of team shirts? Optimal Mix Homerun fill in the blank 3 units Goalpost fill in the blank 4 units…Thermal Mugs, Inc., manufactures various types of leak-proof personal drink carriers. Thermal's T6 container, its most insulated carrier, maintains the temperature of the liquid inside for 6 hours. Thermal has designed a new lid for the T6 carrier that allows for easier drinking and pouring. The cost to produce the new lid is: Direct materials $1 Direct labor $4 Fixed overhead per unit $9 Variable fixed overhead per unit 6 Plato Plastics has approached Thermal and offered to produce the 140,000 lids Thermal will require for current production levels pf the T6 carrier, at a unit price of $17 each. What are the total relevant costs to buy from Plato? Your Answer: Answer
- Required information George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Week Units 7 2 30 Total Etching Cost $18 17 25 20 24 Expected total etching cost 16 $120 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. 3. If the company processes five units next week, what would be the expected total etching cost? (Round your intermediate calculations and final answer to 2 decimal places.)VijayGerber Clothing Inc. has designed a rain suit for outdoor enthusiasts that is about to be introduced on the market. A standard cost card has been prepared for the new suit, as follows: Standard Quantity or hours Standard price or Rate Standard Direct materials 2.2 metres Direct labour 1.0 hours Manufacturing overhead (1/6 variable) 1.0 hours $ 15 per metre 33 per hour 21 per hour Cost $33.00 Total standard cost per suit 33.00 21.00 $87.00 a. The only variable selling and administrative costs will be $6 per suit for shipping. Fixed selling and administrative costs will be as follows (per year): Salaries Advertising and other Total $ 35,400 157,000 $192,400 b. Since the company manufactures many products, it is felt that no more than 10,500 hours of labour time per year can be devoted to production of the new suits. c. An investment of $550,000 will be necessary to carry inventories and accounts receivable and to purchase some new equipment. The company wants a 20% ROI in new product…
- Vermont Instruments manufactures two models of calculators. The fiancé model is the Fin-X and the scientific model is the Sc-X. Both models are assembled in the same plant and require the same assembling operations. The difference between the models is in the cost of the parts. The following data are available for June: Fin-X Sci-X Total Number of units 12,000 40,000 52,000 Parts cost per unit $25 $23 Other costs: Direct labor $53,000 Indirect materials 18,000 Overhead…Compute Lead Time Jackson Fabricators Inc. machines metal parts for the automotive industry. Under the traditional manufacturing approach, the parts are machined through two processes: milling and finishing. Parts are produced in batch sizes of 50 parts. A part requires 5 minutes in milling and 10 minutes in finishing. The move time between the two operations for a complete batch is 11 minutes. Under the lean philosophy, the part is produced in a cell that includes both the milling and finishing operations. The operating time is unchanged; however, the batch size is reduced to 6 parts and the move time is eliminated. Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the traditional and lean manufacturing methods. If required, round percentages to one decimal place. Traditional Philosophy Lean Manufacturing Philosophy Value-added time ? min ? min Non-value-added time ? min ? min Total lead time ? min ? min Value-added ratio…ces Required Information. George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: 1 2 3 4 5 Units 5 45454 10 Req 2A 16 17 60 Total Etching Cost 5 22 21 25 20 28 32 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. $ 148 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.. 2-b. Express these estimates in the form Y=a+bX Complete this question by entering your answers in the tabs below. eq 28 Express these estimates in the form Y= a + bx. (Round your answers to 2 decimal places.) < Req2A Reg 213
