Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR300. At the beginning of the month of May the company has inventory of 1,250 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 450 smartphones remaining in the store. The selling and general expenses for the company include wages and commissions, which include fixed monthly payment of OMR1,500 plus a OMR8 per unit sold; and depreciation of OMR2,000 per month. Assuming a selling price per unit of OMR600, calculate the total contribution margin. Select one: O a. OMR365,000 O b. None of the given answers c. OMR525,600 O d. OMR540.000

Forrest Company manufactures phone chargers and has a policy that ending inventory should equal 10% of the next month's budgeted unit sales. October's ending inventory equals 40,000 units. November and December sales are budgeted to be 400,000 units and 350,000 units, respectively. Prepare the production budget for November. FORREST COMPANY Production Budget Desired ending inventory units Total required units Units to produce November

Crane Marine Products began the year with 10 units of marine floats at a cost of $13.60 each. During the year, it made the following purchases: May 5, 30 units at $19.80; July 16, 15 units at $24.20; and December 7, 20 units at $29.50. Assuming there are 25 units on hand at the end of the period, determine the cost of goods sold under (a) FIFO, (b) LIFO, and (c) average-cost. Crane uses the periodic approach. FIFO LIFO Average-cost $ LA LA tA $ Cost of Goods Sold

Wildhorse's Wind Toys manufactures decorative kites, banners, and windsocks. During the month of January, Wildhorse received orders for 5,000 Valentine's Day banners and 1,300 Easter kites. Because several sewing machines are in the shop for repairs, Wildhorse's has only 1,200 sewing machine hours available for production of these orders. Each Valentine's Day banner sells for $11.00. The banners take one hour to sew and have a total variable cost of $9.00 per banner. The Easter kites sell for $15.00. They take 30 minutes to sew and have a total variable cost of $12.00. (a) With only 1,200 sewing machine hours available, how many units should Wildhorse produce for the below items? Kites Banners Based on your calculations above, which products should Wildhorse prioritize for production in January?

The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $990,000 Selling price per pair of skis $ 450 Variable selling expense per pair of skis $ 47 Variable administrative expense per pair of skis $ 18 Total fixed selling expense $145,000 Total fixed administrative expense $ 125,000 Beginning merchandise inventory $ 70,000 Ending merchandise inventory $ 100,000 Merchandise purchases $ 320,000 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit?

Fukui Electronics manufactures flat screen TVs. In October, they finished manufacturing 82 TVs, started and completed another 175 TVs, and started manufacturing an additional 34 TVs. How would the cost information for manufacturing these TVs be displayed on the company's financial statements?

Walter Pinkman assembles merchandise and is paid $0.11 for each unit assembled. During the most recent week, he worked 46 hours and assembled 5,628 units.Gross Pay = $   Sidney Darling is a telemarketer, who is paid $0.31 for every telemarketing call he places. During the most recent week, he worked 42 hours and placed 1,669 calls.Gross Pay = $

Rundle Woodcraft Company manufactures "antique" wooden cabinets to house modern televisions. The Company began operations in January of last year. Sidney Myrick, the owner, asks for your assistance. He believes that he needs to better understand the cost of the cabinets for pricing purposes. You have collected the following data concerning actual production over the past year: Number of Cabinets Month January February 3,640 March 1,990 April 670 May 1,570 EN June 1,340 July 1,170 August 1,720 September 2,320 October 2,940 November 3,320 December 320 Produced Total Cost 880 $21,400 32,500 29,400 18,400 28,900 27,200 25,900 31,900 32,900 31,100 32,800 9,260 Required a. To understand the department's cost behavior, you decide to plot the points on graph paper and sketch a total cost line. (1) Enter the number of units and their costs in increasing order. b. Using the high-low method, compute the total cost equation for the preceding data. (1) Compute the variable cost per unit. (2)…

Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight- ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows:

At the end of January, Mineral Labs had an inventory of 855 units, which cost $8 per unit to produce. During February the company produced 1,300 units at a cost of $12 per unit. a. If the firm sold 1,650 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.) Cost of goods sold b. If the firm sold 1,650 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.) Cost of goods sold