Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Sales Sale Price 16,400 units 27 Number of Date Beginning March 12 June 5 Units Unit Cost Total Cost 3,500 10.30 $36,050 4,700 10.20 47,940 3,400 10.10 34,340 October 22 8,300 9.90 82,170 Totals 19,900 $200,500 Required: 1. Use your spreadsheet to recalculate the Cost of Goods Sold, Inventory balances, and Gross Profit under each method and enter your results below: (Round your answers to the nearest whole dollar amount.) FIFO LIFO Weighted Average Cost of Goods Sold Ending Inventory Gross Profit

Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Sales Sale Price 16,400 units 27 Number of Date Beginning March 12 June 5 Units Unit Cost Total Cost 3,500 10.30 $36,050 4,700 10.20 47,940 3,400 10.10 34,340 October 22 8,300 9.90 82,170 Totals 19,900 $200,500 Required: 1. Use your spreadsheet to recalculate the Cost of Goods Sold, Inventory balances, and Gross Profit under each method and enter your results below: (Round your answers to the nearest whole dollar amount.) FIFO LIFO Weighted Average Cost of Goods Sold Ending Inventory Gross Profit

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter3: Cost Behavior

Section: Chapter Questions

Problem 5CE: Refer to Cornerstone Exercise 3.4 for data on Dohini Manufacturing Companys purchasing cost and...

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Calculate total revenue and fill in the table below. Price Quantity Total Revenue S50 60 $40 06 $35 110 S30 140 $25 190
Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item Cost Amount ofMarkup Selling Price (in $) PercentMarkupBased onCost PercentMarkupBased onSelling Price Bar of soap $1.16 $0.79 $ % %
Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Sales Sale Price 22,000 units 27 Date Number of Units Unit Cost Total Cost Beginning 5,100 10.30 $52,530 March 12 6,300 10.20 64,260 June 5 5,000 10.10 50,500 October 22 Totals 10,700 9.90 105,930 27,100 $273,220 Required: 1. Use your spreadsheet to recalculate the Cost of Goods Sold, Inventory balances, and Gross Profit under each method and enter your results below: (Round your answers to the nearest whole dollar amount.) FIFO LIFO Weighted Average Cost of Goods Sold Ending Inventory Gross Profit
Refer to Cornerstone Exercise 3.4 for data on Dohini Manufacturing Companys purchasing cost and number of purchase orders. The controller for Dohini Manufacturing ran regression on the data, and the coefficients shown by the regression program are: Required: 1. Construct the cost formula for the purchasing activity showing the fixed cost and the variable rate. 2. If Dohini Manufacturing Company estimates that next month will have 430 purchase orders, what is the total estimated purchasing cost for that month? (Round your answer to the nearest dollar.) 3. What if Dohini Manufacturing wants to estimate purchasing cost for the coming year and expects 5,340 purchase orders? What will estimated total purchasing cost be? (Round your answer to the nearest dollar.) What is the total fixed purchasing cost? Why doesnt it equal the fixed cost calculated in Requirement 1?
* CengageNOWv2 | Online teachin x now.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $19 Direct labor 13 Factory overhead $182,500 10 Selling expenses: Sales salaries and commissions 37,900 4 Advertising 12,800 Travel 2,900 Miscellaneous selling expense 3,100 4 Administrative expenses: Office and officers' salaries 37,100 Supplies 4,600 2…
Requirement 1. Calculate the EOQ. Begin by selecting the formula used to calculate EOQ. (D=Demand in units for one year, P=Ordering cost per purchase order, C=Carrying cost of one unit in stock, Q=Any order quantity.) ModifyingAbove EOQ equals StartRoot StartFraction 2 DP Over Upper C EndFraction EndRoot With Subscript EOQ=2DPC Part 2 (Round your answer to the nearest whole number.) The EOQ is 560 jerseys. Part 3 Requirement 2. Calculate the number of orders that will be placed each year. Determine the formula used to calculate the number of orders that will be placed each year, then calculate the orders per year. (Round your answer up to the nearest whole number.) ÷ = Number of orders
Activity 2: Complete me! Directions: Fill in the needed data to complete the table below. Unit B.E.P in B.E.P in Selling Price per Unit Variable Cost per Unit Total Fixed Cost Contributio Units Pesos n Margin P19,500.00 P15.00 P13.00 P960.00 P18.00 P15.00 P24.00 P3.00 69 P34.00 P3.00 150 P27.00 P5.00 100 2. 3. 4.
... Question 4 QUIZ - CH 05 Exe ezto.mheducation.com Your Texas Benefits... G Google Sy simplify 28(x)=8700... myLoneStar Login CH 05 Exercises & Problems (Algo) i PƏAES Exercise 5-8 (Algo) Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted- Average Method [LO5-2, LO5-3, LO5-4] Hellx Corporation uses the welghted-average method In Its process costing system. It produces prefabrlcated flooring In a serles of steps carrled out in production departments. All of the materlal that Is used In the first production department Is added at the beginning of processing In that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next prdduction department Materials cost added during May…
Example 14: CVP Analysis Application: For example, sale price of one laptop is $500, sales revenue=500Q; Assume that expense is Y=a+bx=$80,000+300Q. We can draw two lines to assume Horizontal line (X) is the units sold Q and Vertical line (Y) is dollar sales $. We need to draw a graph using this information
Assume that Demand (D) = 10,000 units and Ordering Cost (S) = $10 (per order). Suppose that we order at the Economic Order Quantity (EOQ) and the total inventory cost TC $500. What is the EOQ?
Assume that markup is based on selling price. Calculate the dollar markup and cost. (Round your answers to the nearest cent.) Selling price Dollar Item Markup percent Cost markup Canon scanner 2$ 105 40 %