Paint Produced
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Required:
Solve the variable and fixed cost component using:
a) High-Low method
b) Least-Squares Regression method
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- The cost data for Evencoat Paint for the year 2019 is as follows: Using the high-low method, express the companys maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs. Predict the maintenance costs i190,000 gallons of paint are produced. Predict the maintenance costs if 81,000 gallons of paint are produced. Using Excel, create a scatter graph of the cost data and explain the relationship between gallons of paint produced and equipment maintenance expenses.You are provided the following production information for the month of October 2020 Material A Material B Material C Opening WIP Cost RO R5,622 R4 235 Current Months' Cost R57,885 R66,368 R36,329 Equivalent Units 6,264 units 9.863 units 7.959 units If a FIFO system is used, what is the cost per equivalent unit for Material C?Additional information for No.'s 1 and 4 Selling and administrative expenses are 60% fixed and 40% variable What is the net income for 2020 under the Variable Costing Method? What is the net income for 2020 under the Absorption Costing Method? What is the net income for 2021 under the Variable Costing Method? What is the net income for 2021 under the Absorption Costing Method?
- Prepare a COST SHEET, From the following particulars, prepare a cost statement showingcomponents of Total cost and the Profit for the year ended 31st December, 2019 Calculate Prime cost, 10% of work cost, 15% of Cost of production and Profit with 50% sales of yearWhat is the net income for January 2020 under absorption costing? The selling price is P20.00 per unitAdditional data: Selling and Administrative expenses are 60% fixed and 40% variable A. What is the net income for 2020 under the variable costing method? B. What is the net income for 2020 under the absorption costing method? C. What is the net income for 2021 under the absorption costing method?
- PT Sinaran Raya has two plans for production activities in 2019 as follows: Requested: 1. Calculate the estimated total production costs for: a. Total estimated production of 12,000 units b. Total estimated production of 10,000 units 2. Calculate the estimated production cost per unit for the production quantities of 12,000 units and 10,000 units 3. What can you conclude from the two planned levels of production activities?The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method, express the companys overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. Predict the overtime wages if 9,000 invoices are processed. Predict the overtime wages if 6,500 invoices are processed. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices processed and overtime wage expense.The sales and profit for two years are as below: Sales Profit 2019 50000 15000 2020 90000 35000 Calculate Margin of safety at a profit of OMR 22000: Select one: a. OMR 44000 b. OMR 62000 c. OMR 64000 d. OMR 72000
- SCRUMPTIOUS CUPCAKESProfit and loss accountfor the year ended 30 April 20202020£SalesSales 220,000Cost of sales 120,000Gross Profit 100,000ExpensesSalaries 24,000Other Fixed cost 4,800Distribution 3,000Advertising 4,500Rent 13,200AHUtilities 3,600Other Cost 4,00057,100Operating Profit 42,900 SCRUMPTIOUS CUPCAKESBalance Sheetas at 30 April 20202020£Fixed assetsIntangible assets -Tangible assets 35,000Investments -35,000Current assetsStocks 3,000Debtors 10,000Cash at bank and in hand 6,30019,300Written ReportsCreditors: amounts falling duewithin one year (11,300)Net Current Assets 8,000Total assets less currentliabilities 43,000Net Assets 43,000Capital and reservesCalled up share capital 100Profit and loss account 42,900Shareholders' funds 43,000 please calculate the folliwing ratios: Profitability Ratios – Gross Profit Margin, Net Profit Margin and ROCE● Liquidity – Current Test and Acid Test● Gearing● Activity/Performance – Stock Turnover, Debtors’ Collection Period and AssetTurnover…The following information are available for X Corp: (The company uses actual costing). What is the Profit in 2019 under absorption costing? 2019 Beginning Inventory None Production 10,000 units Ending Inventory 3,500 units Sales at 2 per unit ?? Variable Mfg cost in total pesos 7,500 Fixed Mfg cost 5,000 OPEX (50% FC) 4,500 2020 Beginning Inventory ?? Production 9,000 units Ending Inventory 1,000 units Sales at 2 per unit ?? Variable Mfg cost in total pesos ?? Fixed Mfg cost 5,400 (increased by 400 for change of total FC of the company) OPEX (50% FC) 7,500Use the information given below to calculate each of the following independently 3.1 Expected total Marginal Income and Net Profit/Loss Slumber Limited manufactures beds. The following information was extracted from the budget for 2024:Expected production and sales (units) 1 200Selling price per bed R6 000Direct materials cost per bed R1 700Direct labour cost per bed R860Variable manufacturing overheads cost per bed R320Fixed manufacturing overheads cost R1 084 800Sales commission (as a percentage of the selling price) 20%Fixed administrative and selling costs R720 000 PLEASE PUT THE ANSWER IN RANDS