Management wants to explore the total profit using What If analysis with the data below. Fixed Cost = $10,000 Material cost per toy = $0.15 Labor cost per toy = $0.10 Vary the Revenue per toy from 0.60 to 1.10 by 0.05, and the labor cost from 0.08 to 0.16 by 0.01 When the quantity sold is 27,000 toys, what is the range of profits when the sales price is $$0.70?
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- List the four functions of management. Explain what type of cost management information isappropriate for each.Please Help I am confused. Classifying Costs The following is a list of costs that were incurred in the production and sale of large commercial airplanes: Classify each cost as either a product cost or a period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense. Costs Classification a. Annual bonus paid to the chief operating officer of the company b. Annual fee to a celebrity to promote the aircraft c. Cost of electronic guidance system installed in the airplane cockpit d. Cost of electrical wiring throughout the airplane e. Cost of miniature replicas of the airplane used to promote and market the airplane f. Cost of normal scrap from production of airplane body g. Cost of paving the headquarters employee parking lot h. Decals for cockpit door, the cost of which is immaterial to the cost of the…Evaluation of employee performance must include measures that are relevant and controllable by the employee. Why is it important to investigate both price (rate) and volume (efficiency)variances when rewarding employees for satisfactory work when performance evaluations are based on meeting budgets?
- Mavis and John have joined forces to start M&J Food Products, a processor of packaged shredded lettuce for institutional use. John has years of food processing experience, and Mavis has extensive commercial food preparation experience. The process will consist of opening crates of lettuce and then sorting, washing, slicing, preserving, and finally packaging the prepared lettuce. Together, with help from vendors, they think they can adequately estimate demand, fixed costs, revenues, and variable cost per 5-pound bag of lettuce. They think a largely manual process will have monthly fixed cost of $50,000and a variable cost of $2.50 per bag. They expect to sell 75,000 bags of lettuce per month. They expect to sell the shredded lettuce for $3.25 per 5-pound bag. John and Mavis has been contacted by a vendor to consider a more mechanized process. This new process will have monthly fixed cost of $125,000 per month with a variable cost of $1.75 per bag. Based on the above scenario: Should…Doughton Bearings produces ball bearings for industrial equipment. In evaluating the financial datafrom the previous year, the management accountant has determined that the company’s selling priceper unit is $25, while the variable cost per unit is $18. What is the contribution margin per unit?VVH Training is a company that provides expert training sessions on how to run your business and make it profitable. They offer these training sessions in their offices and offer catering services during the sessions.You have been hired to complete a profitability analysis and you decided to start by completing a cost analysis of the business, in order to figure out for each training sessions, what costs are fixed and what costs are variable.You were able to gather the following information about the associated costs: • Instructor: $11,000 per session • Training Material: $2,500 per session and $35 per attendee • Catering Services:• Food: $75 per attendee • Setup/cleanup: $25 per attendee• Fixed fee: $5,000 per training session The catering company has also offered VVH Training a 1,000$ discount per session, if they are willing to leave their brochures on the dinner table as a form of advertising. VVH has accepted the offer saying that it is a no-brainerRequired:1. plot a graph that…
- Calculate the EUAC of a company If P = 1000$, n = 10 years and i = 10%. Select one: O a. 163$ O b. 160$ O c. 150$Which of the following scenarios accurately reflects the meaning of the profit leverage effect? Group of answer choices With a 7.6% profit margin, decreasing your cost of goods sold (COGS) by $10,000 increases your pre-tax profits by $10,000, but increasing your sales by $10,000 only increases your pre-tax profits by $760. When operating with a 7.6% profit margin, your cost of goods sold will be $10,000 as long as your sales exceed $10,000. With a 7.6% profit margin, every additional $10,000 in sales increases your pre-tax profits by $10,000, while every $10,000 saved in purchasing increases your pre-tax profits by just $760. If your profit margin is 7.6%, every $10,000 saved in purchasing lowers your COGS sold by $760.Items Selling Price Per Unit Total Sales quantity Direct Labor Cost Direct Material Cost Other Variable expense Management Salaries Utilities (electricity, water, communications) Advertising Expense (80% Fixed, 20% Variable) Interest Expense Distribution Expense(80% Fixed, 20% Variable) Selling and Commission (90% Fixed and 10% Variable) *Taxes (annual) Note: Total tax annually * Unit OMR units or pcs OMR OMR OMR OMR OMR OMR OMR OMR OMR OMR Amount 340 2,852,600 8,390 64,210 1,158,200 1,510 32,990 14,750 140,880 1,600 42,480 11,300
- Determine which factor of production is needed in the following problem. 1.The ABM manufacturing Co.hired a gardener.He uses a lawn mower for landscaping.Which factor of production would you consider this machine? 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of production would you consider cash on hand? 3.The top manager of the firm said "the great ideas,consepts and emotional determination of a person to produce something that consumers want to buy" is very important for the company.What factor of production describes the ability to create great ideas? 4.The farmers planted pineapple cutting in the vacant area located in their locality.Which factor of production would you consider a pineapple plantation?provide a explaining how marginal costing, standard costing and budgeting helps the management in decision making?Scenario Analysis As part of the process of preparing the master budget for the coming year,you’ve been asked to perform What-If analyses, in the form of scenarios, on the original planningassumptions regarding product A produced by your company. The following are the baseline planning data for the coming year for this product:Sales volume (annual, in units) 2,500Selling price per unit $ 1,500Variable cost per unit $ 1,000Fixed costs (per year) $200,000Required1. Based on the baseline planning data, what is the budgeted operating income for product A for the coming year?2. Determine the estimated operating income under each of the following scenarios (for each scenario youshould report both the new budgeted operating income and the percentage change in operating incomefrom the baseline budgeted result):a. Selling price per unit is 10% higher than planned, while fixed costs per year are also 10% higher thanplanned.