Your Answers: The costs for Fido's Bakery for the year were: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec # of Dog Treats Produced X 3.8 425 510 625 725 685 575 510 810 700 650 875 680 Factory Utility Costs $ 1659 $ 1,964 $ 2,406 $2,555 $ 2,637 $2,214 $3,333 $3,119 $2,695 $2,503 $3,369 $2,895 Return Using the High-Low method, predict the cost of producing 900 chairs. Enter your answer rounded to the nearest whole number without a dollar sign or comma (i.e., 1250)

Your Answers: The costs for Fido's Bakery for the year were: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec # of Dog Treats Produced X 3.8 425 510 625 725 685 575 510 810 700 650 875 680 Factory Utility Costs $ 1659 $ 1,964 $ 2,406 $2,555 $ 2,637 $2,214 $3,333 $3,119 $2,695 $2,503 $3,369 $2,895 Return Using the High-Low method, predict the cost of producing 900 chairs. Enter your answer rounded to the nearest whole number without a dollar sign or comma (i.e., 1250)

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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Cove’s Cakes is a local bakery. Price and cost information follows: Price per cake $13.51 Variable cost per cake Ingredients 2.24 Direct labor 1.05 Overhead (box, etc.) 0.21 Fixed cost per month $3,203.20 Required: 1. Determine Cove’s break-even point in units and sales dollars. 2. Determine the bakery’s margin of safety if it currently sells 410 cakes per month. 3. Determine the number of cakes that Cove must sell to generate $2,500 in profit.
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Fantastic29 Cleapers owns and operates a large automatic laundry facility in Winchester. The company expects to process 8,100 loads of laundry in June and to collect an average of $6.20 per load processed. The following table provides data concerning the company's costs: Cost per Load of Laundry $ 0.60 $ 0.15 $ 0.40 $0.08 Detergents and Softeners. Equipment Maintenance Staff Compensation $ 4,300 $ 1,200 $ 8,100 $ 2,000 Administrative Expenses $1,500 $ 0.04 For example, utilities costs are $1,200 per month plus $0.08 per load of laundry. Utilities Equipment Depreciation Facility Lease The actual operating results for June are as follows: Fantastic29 Cleaners Income Statement For the Month Ended June 30 Actual loads processed Revenue Expenses: Fixed Cost per Month Detergents and Softeners Equipment Maintenance Staff Compensation Utilities Equipment Depreciation ( Facility Lease Administrative Expenses Total expense Net operating income 8,200 $ 52,320 5,360 1,455 7,900 1,018 8,100 2,200…
Cove's Cakes is a local bakery. Price and cost information follows: Price per cake Variable cost per cake Ingredients $ 14.61 2.31 1.13 Overhead (box, etc.) 0.28 Fixed costs per month 4,464.90 Direct labor Required: 1. Determine Cove's break-even point in units and sales dollars. 2. Determine the bakery's margin of safety in sales dollars if it currently sells 480 cakes per month. 3. Determine the number of cakes that Cove must sell to generate $1,900 in profit. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine Cove's break-even point in units and sales dollars. Note: Round your Break-Even Units answer to the nearest whole number. Round your other intermediate calculations and sales dollars answer to 2 decimal places. Break-Even Units Break-Even Sales Dollars Cakes
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Using the information below from Verdi Diagnostic Services, what is the formula for the total costs of X-rays? March April May X-Rays Taken X-ray Costs $13,500 $10,000 $7,500 7,000 5,000 3,000 O Total cost = $13,500+ ($0.57 x number of X-rays) B U O Total cost $1.75 + ($1,250x number of X-rays) O Total cost = $3,000 + ($1.50x number of X-rays) O Total cost = $2,000+ ($2.00 x number of X-rays)
Cost of Services Sold Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Direct materials Direct labor Variable overhead Fixed overhead ? $472,500 15,000 18,000 Next year, HHH expects to purchase $25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: Direct Materials Inventory Required: Beginning $4,000 2,600 Ending There is no work-in-process inventory and no finished goods inventory; in other words, a cleaning is started and completed on the same day. 1. Prepare a statement of cost of services sold in good form. If an amount is zero, enter "0". Happy Home Helpers, Inc. Statement of Cost of Services Sold For the Coming Year 2. How does this cost of services sold…
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