A company has three types of products: gadgets, widgets, and gizmos. The cost and market price of each type is listed below. Complete the table by applying the lower of cost and net realizable value (LCNRV). Do not enter dollar signs or commas in the input boxes. LCNRV Applied to Description Category Cost NRV Individual Category Total Gadget Type 1 Gadgets $1,170 $1,000 $ Gadget Type 2 Gadgets $5,700 $5,600 $ Total Gadgets $ $ Widget A Widgets $140 $150 $ Widget B Widgets $130 $190 $ Total Widgets $ $ Gizmo 1 Gizmos $2,280 $2,450 $
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- Remember: Gross profit = SP- CP Activity 1.2 enti Complete the following table: Table 1.2: Finding the cost price, the gross profit or the selling price No Cast price Gross prafit Selling price 1.2.1 R5 600 R8 700 1.2.2 R3 400 30% 1.2.3 R6 800 R12 700 1.2.4 R17 500 R35 000 The owner of an enterprise has to calculate both the gross and the net profit. A business has certain operating expenses thai must be deducied from the gross profit to get the net profit. Examples of operating expenses are: • Salaries Wages • Rent paid/rent expense • Advertisements • Stationery. The cost of advertising the business is one example of an operating expense. Gross profit minaş operating expenses equals net profit."Refer to the pictur ebelow: Find: 1. Total Cost of Product A under ABC System2. Total Cost of Product B under ABC System3. Selling Price per unit of Product B assuming profit margin of 20% above cost:On the cost-volume-profit graph, the intersection between the total cost line and (Y) axis represents The profit area a O The fixed cost amount b O The loss area .c O The contribution margin per unit .d O The variable cost amount eeV@hdows Go to Settings to activate Wil 081 ENG hp 19 11 inprt sc delete home end & num 6 8 9. backspace = lock V { Y U 7 V 8. home H. K enter pause N 1 shift 上 end alt ctrl Pm 近
- The line that begins at the origin on a CVP graph represents total expenses. total fixed expenses. total sales revenues. both the total expenses and the total sales revenues. Which of the following best describes the concept of a "constraint?" Expected future costs that differ among alternatives. None of the items in this list of answers. A benefit foregone by choosing one alternative course over another. The distribution of all products to be sold.production. Which one of the following is likely to be a cost driver? Select one: Oa. Machine hours Ob. None of the given answers Oc. depreciation. Od. Retail price O e. Monthly rent. ESET NOD32 A Your system is expos click on this notificat Wers to Ch3 Pau ScrLk NmLk PrtSc Thinklantage Bre SysRqExample 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 $. We need to draw a graph using this information
- Using the Microsoft 10K for the Fiscal Year ended June 30, 2018 to answer questions: 1. Interpret the results of 2018 "above the line" compared to 2017 "above the line" and then 2017 "below the line" and 2017 "below the line". 2. What is the revenue and cost streams of MSFT using the 10K. How are the costs allocated between the product and service streams? 3. What are the revenue recognition policy of MSFT?4. What are some examples of the revenue recognition for each area as mentioned in the report?5. What is the EBIT and EBITDA for MSFT for 2018 and 2017? How did you calculate this? 6. Using the MSFT financial statements, what is the variance for the balances listed below). The answer must include: % change from 2017 to 2018$ change from 2017 to 2018please state whether it is a favorable or unfavorable variance from 2017 to 2018 Cost of services Selling, general, administration and other Gross Profit of services Gross Profit of products 7. In the financial statement, what is the…You are creating part of an Excel model that will set the price of an item based on whether the customer is a preferred customer or not. The partially completed model in the attached file. <-- Click here to download the Excel file. In cell B6, you will enter the formula that will use this logic:When preferred status is Yes, the price is the preferred price. Otherwise the price is the regular price.= Answer ( Answer = "Yes" , Answer , Answer ) As an alternative, you could also use this logic to get the same results:When preferred status is No, the price is the regular price. Otherwise the price is the preferred price.= Answer ( Answer = "No" , Answer , Answer ) Note that these problems use short answer text boxes, and therefore can include any characters (not just numbers). Customer ID: 68YJW Prices: Regular $26.95 Customer Name Reggie Greene Preferred $21.95 Preferred? Y/N: Yes Customer PriceWhich of the following does not represent a cost-volume-profit analysis equation? O a. Contribution margin - fixed expenses - profit = 0 O b. Profit = contribution margin + fixed expenses O c. Sales = total expenses+ profit O d. Sales- fixed expenses – variable expenses = 0 O e. Sales+ fixed expenses + profit = contribution margin + sales US PAGE NE re to search 144 ort sc delete home %23 & 4. backspace R T. U D G K enter pause C M alt ctrl
- Chapter 1: Applying Excel: Excel Worksheet (Part 1 of 2) Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell C18 enter the formula "= B6". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts in both the traditional and contribution format income statements match the numbers in Exhibit 1-7. Check your worksheet by changing the variable selling cost in the Data area to $900, keeping all of the other data the same as in Exhibit 1-7. If your worksheet is operating properly, the net operating income under the traditional format income statement and under the contribution format income statement should now be $700 and the contribution margin should now be $4,700. If you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking “Browse.” Next, click…Direction: Read carefully and answer the questions below. Encircle the letter of the correct answer. 1. Which of the following is an example of a variable cost? а. interest b. ingredients с. insurance d. lease 2. What type of cost varies depending on the quantity of products being produced? а. fixed b. net sales с. total d. variable 3. Which among the following concepts is usually seen on the top item in an income statement from which all costs and expenses is subtracted to arrive at net income? a. fixed cost b. net sales с. total cost d. variable cost 4. When do we obtain the break-even point? When the fixed cost is equal to the total cost When the total cost is equal to the variable cost When the variable cost is equal to the fixed cost d. When the number of units of goods sold covers the all the costs а. b. с. 5. Which of the following is NOT true? а. The fixed cost does not vary over time. b. The total cost is the sum of the fixed cost and the variable cost. с. The total cost is…ctoring Enabled: Chapter 4 The Art of Modellin. i Saved Help Save & Exit An analyst is constructing a simple model to determine the gross and net profit of a product, given its profit per unit, quantity sold, and the total costs assigned to the product. The calculation for gross profit is Profit per Unit times Quantity. The calculation for Net Profit is Gross Profit minus Total Costs. A B 2 Profit per Unit 4 3 Quantity 11,700 4 Gross Profit 5 6. Total Costs 5,900 7 8 Net Profit With the values for Profit per Unit, Quantity, and Total Costs shown above, what should the model return for the following calculated cells? Cell Value Gross Profit Net Profit < Prev 5 of 5 Next