ariance Analysis llen Francis Doyle, LLC is a small manufacturer of Monster Candy, a gummy candy haped as monsters. The following information pertains to November's production. Material: 2.3 ounces per unit @ $0.4 per ounce abor: 2 hours per unit @ $13.5 per hour /ariable OH: 2 hours per unit @ $3 per hour Fixed OH: 2 hours per unit @ $0.85 per hour* based on budgeted production of 2,700 units Actuals Production: 3,000 units produced during the month Material: 7,200 ounces purchased and used @ $0.385 per ounce abor: 6,450 direct labor hours @ $13.6 per hour lariable OH: $18,060 Fixed OH: $5,676 REQUIRED Determine the following: .. Material price variance . Material usage (quantity) variance E. Labor rate variance

ariance Analysis llen Francis Doyle, LLC is a small manufacturer of Monster Candy, a gummy candy haped as monsters. The following information pertains to November's production. Material: 2.3 ounces per unit @ $0.4 per ounce abor: 2 hours per unit @ $13.5 per hour /ariable OH: 2 hours per unit @ $3 per hour Fixed OH: 2 hours per unit @ $0.85 per hour* based on budgeted production of 2,700 units Actuals Production: 3,000 units produced during the month Material: 7,200 ounces purchased and used @ $0.385 per ounce abor: 6,450 direct labor hours @ $13.6 per hour lariable OH: $18,060 Fixed OH: $5,676 REQUIRED Determine the following: .. Material price variance . Material usage (quantity) variance E. Labor rate variance

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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16/ Do not solve it in excel, please.
1-The annual demand for Samsung mobiles is 60,000. The cost to place an order is RO 200. The cost of purchase of mobile is RO 4.800 and the carrying cost is 20% of cost. Calculate the number of orders per year. 2-E-Max sold 40 laptops during November and their purchases are given below. Calculate the cost of goods sold by E-Max using average cost method. Purchases No of Laptops Cost/Unit November 10 13 80 November 18 25 100 November 27 30 120 a. 2940 RO b. 4600 RO c. 4200 RO d. 3780 RO
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Question 2: Zeroll Ice Cream company produces and sells premium ice cream cones in Coles supermarkets. The following table shows selling price and cost information of ice cream cones: Price per cone: $ 5.00 Variable cost per cone:Ingredients $1.35Direct labour $0.45Overhead $0.20Fixed cost per month $3,000Required: a. Calculate the breakeven point in units and in dollars. Click or tap here to enter text.b. The company’s general director has determined a target profit of $6,000 for next year. Given the price and cost information above, what are the required sales in units and in dollars for the company to achieve this target? Click or tap here to enter text.c. Calculate Zeroll’s new break-even point (in units and in dollars) for each of the following independent scenarios:  Selling price decreases by $0.50 per cone. Click or tap here to enter text. Fixed costs decrease by $300 per month. Click or tap here to enter text. Variable costs increase by $0.50 per cone Click or tap here to…
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Widget Co. produces widgets for customers. The company has provided the following financial information for the past year. Each scenario below is separate. Product Selling price per unit Sales Quantity Variable cost per unit Fixed costs Widgets $9.00 528,000 $2.00 $67,000 Do not enter dollar signs or commas in the input boxes. Round breakeven units up to the nearest whole number. Round breakeven sales to the nearest whole number. a) Calculate break-even units and break-even sales. Breakeven units = Breakeven sales = $ b) Suppose the company would like to generate an operating profit of $5,000. Determine the revenue that is needed to obtain this target, and calculate the number of units that need to be produced to meet this goal. Breakeven units = Breakeven sales = $ c) Suppose the company decides to lower the selling price from $9.00 per unit to $8.00 per unit. Calculate break-even units and break- even sales. Breakeven units = Breakeven sales = $ d) Suppose that fixed costs drop to…
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Last month Annie's Homemade sold 5,000 servings of ice cream for $5.00 each. Its variable cost is $1.25 per serving and its total fixed costs were $11,000. Required: 1. What was last month's margin of safety? 2. What was last month's margin of safety percentage? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What was last month's margin of safety? Margin of safety
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