question attached qestion 6 in ss's belowthanks for helply1py4y1p41l4p1g14g1 Data tableVariable costs:Direct materialsDirect laborVariable overheadFixed overhead....Total cost...$I0.110.060.100.25$ 0.52XhertoRequirements1. Prepare an incremental analysis to determine whether Collectibles & Moreshould accept the special sales order assuming fixed costs would not beaffected by the special order.2. Now assume that the Hall of Fame wants special hologram baseball cards.Collectibles & More must spend $5,100 to develop this hologram, which will beuseless after the special order is completed. Should Collectibles & More acceptthe special order under these circumstances? Show your analysis. Suppose the Baseball Hall of Fame in Cooperstown, New York, has approachedCollectibles & More with a special order. The Hall of Fame wants to purchase 53,000 baseballcard packs for a special promotional campaign and offers $0.32 per pack, a total of $16,960.Requirement 1. Prepare an incremental analysis to determine whether Collectibles & More should accept the special sales order assuming fixed costs would not be affected by the special order.(Enter a "0" for any zero balances. Use parentheses or a minus sign to indicate a decrease in operating income from the special order.)Incremental Analysis of Special Sales Order DecisionRevenue from special orderLess variable expense associated with the order:Variable manufacturing costsContribution marginLess: Additional fixed expenses associated with the orderIncrease (decrease) in operating income from the special orderPer UnitCollectibles & More's total production cost is $0.52 per pack, as follows:(Click the icon to view the cost information.)Collectibles & More has enough excess capacity to handle the special order.Read the requirements.Total Order(53,000 units)

Variable costs are costs that vary with the change in the level of output whereas fixed costs are…

Answered: Suppose the Baseball Hall of Fame in…

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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Sunland, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a smartphone. The cost structure to manufacture 19,700 Tri-Robos is as follows. Direct materials ($52 per robot) Direct labor ($40 per robot) Variable overhead ($7 per robot) Allocated fixed overhead ($30 per robot) Total Cost (a1) $1,024,400 788,000 137,900 591,000 $2,541,300 Sunland is approached by Tienh Inc., which offers to make Tri-Robo for $119 per unit or $2,344,300. Following are independent assumptions.
i need Part B solution now i have already part A solution i attacheed here also a). Total Manufacturing cost = Direct material + Direct labor + Manufacturing overhead Total manufacturing cost = 9,700 + 5,100 + 8,400 = $23,200 b). Cost of Goods manufactured = Total manufacturing cost + Beginning WIP - Ending WIP 17,100 = 23,200 + 1,100 - Ending WIP 17,100 = 24,300 - Ending WIP Ending WIP = 6,100 c). Goods available for sale = Cost of goods manufactured + Beginning Finished Goods 22,100 = 17,100 + Beginning Finished goods inventory Beginning Finished Goods Inventory = 5,000 d). Cost of Goods sold = Goods available for sale - Ending Finished Goods Inventory Cost of Goods sold = 22,100 - 3,500 = $18,600 e). Gross Profit = Net Sales - Cost of goods sold = (Sales revenue - Sales discounts) - Cost of goods sold = (25,000 - 2,600) - 18,600 = 3,800 f). Net Income = Gross Profit - Operating Expense = 3,800 - 2,800 = 1,000 arrow_forward Step 3 g). Direct Material Used = Total…
Instruction: Read each problem carefully ana proviue h n Prob Problem 1. Classify each of the following costs of Bug Company in two ways: (a) as variable (V) fixed costs (F); (b) as inventoriable costs (I) or period costs (P): Example: Direct labor 1. Salary of company 2. Fire insurance on direct materials controller 3. Property taxes on finished goods held for sale 4. Direct materials used tico of 5. Factory.renty p 6. Sales Commissions R 7. Overtime premium of machine operators 8. Straight-line depreciation of Factory equipment 9. Straight-line depreciation of trucks used for delivery R. of sales to customers 10. Salary of factory supervisor 16
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate compl 2. Compute the contribution margin per unit. [assume direct labor is a fixed cost] 3. Compute the contribution margin per welding hour. [assume direct labor is a fixed cost] 4. Assuming direct labor is a fixed cost: a. Determine the number of WVD drums (if any) that should be purchased and the number of WVD drums and/or bike frames (if any) that should be manufactured. b. What is the increase (decrease) in net operating income that would result from this plan over current operations? 5. Compute the contribution margin per unit. [assume direct labor is a variable cost] 6. Compute the contribution margin per welding hour. [assume direct labor is a variable cost] 7. Assuming direct labor is a variable cost: a. Determine the number of WVD drums (if any) that should be purchased and the number of WVD drums and/or bike frames (if any) that should be manufactured. b.…
The "x" in the overhead cost equation, y = $5.50x + $92,000, represents which of the following? total overhead costs. the variable costs. total fixed costs. the cost driver in units.
Determine fixed and variable costs using the high-low method and prepare graph. E2.26 (LO 3) The controller of Furgee Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs. Total Maintenance Costs Total Machine Hours Month January February March April May June $2,500 3,000 3,600 4,500 3,200 4,900 300 350 500 690 400 700 Instructions a. Determine the fixed and variable cost components using the high-low method. b. Prepare a graph showing the behaviour of maintenance costs, and identify the fixed and variable cost components. Use 100-hour increments and $1,000 cost increments.
Evaluating Selected Cost Driver Assume that a manufacturer of specialized machine parts developed the following total cost estimating equation for manufacturing costs. Y = $14,400 + $1,250 (actual units) a. What is total estimated manufacturing costs if 180 units are produced? $Answer 0
What is the difference in the cost of Widget A, per product, using a traditional labor allocation vs. activity based costing method, assuming the three main cost activities are: Widget A Widget B Total Direct labor hours 300 600 900 Machine hours 100 150 250 Purchase orders = 50 50 100 Here are the summary of fixed costs to consider allocating: Payroll taxes $1,700 Machine maintenance $750 Purchasing Dept. labor $3.500 Fringe benefits $1.500 Purchasing Dept. Supplies $300 Equipment depreciation $1,000 Electricity $1,500 Unemployment insurance $1,300 Traditional method OVER estimates the cost of Product A by $850 Traditional method UNDER estimates the cost of Product A by $850 Traditional method OVER estimates the cost of Product A by $1600 O Traditional method UNDER estimates the cost of Product A by $1600
Sales price OMR 1000; Direct materials OMR250; Directe labor OMR 180; Variable selling cost OMR 100; Fixed selling cost OMR 200; Variable manufacturing cost OMR 150; Fixed manufacturing cost OMR 350 then we get TOTAL MANUFACTURING COST OF GOODS SOLD. O a. OMR 930 O b. OMR 520 O C. Some other answer O d. OMR 320
Learned Corporation has provided the following information: Direct materials. Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions a. Total product cost b. Total period cost Cost per Unit Cost per Period $ 5.80 $ 4.00 $ 1.60 c. Contribution margin per unit d. Total direct manufacturing cost e. Total indirect manufacturing cost $ 0.70 $ 0.60 Variable administrative expense Fixed selling and administrative expense Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 6,000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 6,000 units? c. If the selling price is $23.30 per unit, what is the contribution margin per unit sold? Note: Round your answer to 2 decimal places. d. If 7,000 units are produced, what is the total amount of direct manufacturing cost incurred? e. If 7,000 units are produced, what is the total amount of indirect manufacturing…
In an actual cost system, it is difficult to determine the _____ per unit. Group of answer choices A. overhead B. direct labor C. direct materials D. none of these are easy to determine To purchase materials on account, the entry would be: Group of answer choices A. Debit Finished Goods 2,000; Credit Materials 2,000 B. Debit Materials 2,000; Credit WIP 2,000 C. Debit AP 2,000; Credit Sales 2,000 D. Debit Materials 2,000; Credit AP 2,000 Applied overhead costs are charged to ________________. Group of answer choices A. Wages payable B. Materials C. Finished goods D. Work in process The difference between actual overhead and applied overhead is called a (n) _________________. Group of answer choices A. cost of goods sold B. fixed overhead C. variable overhead D. overhead variance In ___________ costs are accumulated by department. Group of answer choices A. process costing B. activity-based cosing C. direct costing D.…
For each of the following independent cases (A to E), compute the missing values in the table: Case 4 B ola C D E Prime Cost $ 9,520 17,540 55,500 32,450 32,600 Conversion Cost $ Answer is complete but not entirely correct. Direct Labor 110,000 48,350 37,200 Direct Materials 16,440 32,190 * 10,000 $ 4,070 $ 5,510 7,340 42,400 13,100 20,400 11,750 18,800 13,100 Manufacturing Overhead S Total Manufacturing Cost 10,990 s 25,100 98,200 35,500 24,100 20,370 42,440 154 68,750 56,400

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