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- Costco can purchase a bag of Starbucks coffee for $20.00 less discounts of 20%, 15%, and 7%. It then adds a 40% markup on cost. Expenses are known to be 25% of the regular unit selling price. a. What is the cost of the coffee? What is the regular unit selling price? How much profit will Costco make on a bag of Starbucks coffee? What markup on selling price percentage does this represent? Repeat questions (a) through (d) if the list price changes to $24.00.Q4) ABC costing helps the organization decreases costs associated with good decisions and keep pace with technological changes. Select one: True FalseSelect one: a. price ceiling; below b. price floor; above c. price ceiling; at or below d. price ceiling; above
- Assume a fixed cost of $900, a variable cost of $4.25, and a selling price of $6.00. a. What is the break-even point? (Roundup your answer to the next whole number.) Break-even point unitsComplete the following table of basic calculations. For Percent Contribution Margin, use (P-MC)/P. Round to table standard. Price Quantity Demanded Total Revenue Marginal Revenue Variable Cost Total Cost Average Variable Cost Marginal Cost Profit Percent Contribution Margin 18 600 10800 5210 5710 8.68 5090 17 a 11900 11 b 6140 8.06 4.30 5760 0.75 16 800 12800 9 6135 c 7.67 4.95 6165 d 15 900 13500 e 6700 7200 7.44 5.65 6300 0.62 14 1000 14000 5 7335 7835 f 6.35 6165 g 13 1100 14300 3 8060 8560 7.33 h i 0.44 j 1200 14400 1 8900 9400 7.42 8.40 5000 0.30 a.____________ b.____________ c.____________ d.____________ e.____________ f._____________ g._____________ h._____________ i.______________ j.______________Calculate the maintained markup percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). (HINT: Page 196) NOTE. There are four questions associated with this data. You will ultimately complete a complete RIM exercise. Cost ($) Retail ($) Opening inventory 130,410 201,543 Gross purchases 418,390 884,916 Returns to vendors 1,726 3,514 Cash discounts 2,040 Alteration costs 1,620 Freight 1,690 Gross Sales 806,430 Customer returns 60,340 Markdowns 120,630 Markdown cancellations 3,048 Additional markup 360 Employee discounts 1,010 Closing physical inventory 212,803
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- T Corp gave inventory (winter coats) away to a charity that helps the needy. It's basis in the inventory was $5,000, and the value was $18,000. Determine the dollar amount of the donation for tax purposes. $5,000. $10,000. $11,500. $18,000.Please only answer D-1 and D-2 Assume that Painless Dental Clinics, Inc., offers three basic dental services. The following are its prices and costs. Priceper Unit Variable Costper Unit Units Soldper Year Cleaning $ 400 $ 220 8,500 Filling 680 660 1,200 Capping 1,550 920 300 Variable costs include the labor costs of the dental hygienists and dentists. Fixed costs of $540,000 per year include building and equipment costs, marketing costs, and the costs of administration. Painless Dental Clinics is subject to a 20 percent tax rate on income. A cleaning “unit” is a routine teeth cleaning that takes about 45 minutes. A filling “unit” is the work done to fill one or more cavities in one session. A capping “unit” is the work done to put a crown on one tooth. If more than one tooth is crowned in a session, then the clinic counts one unit per tooth (e.g., putting crowns on two teeth counts as two units). Required: a. Given this information, how…5. What are the characteristics of a company that would be more likely to use process costing than job order costing?