Deluxe Homes is a residential Home Builder. Based on their current production of 300 homes per year, they currently make a profit of $20 per unit, based on the following costs per unit are: Direct labour Direct materials Variable overhead Fixed overhead Variable selling costs Fixed selling costs Total cost per unit (in $'000) $20 200 30 40 10 $310 10
Q: From the following data, prepare a flexible budget for production of 40,000, units and 75,000 units,…
A: A flexible budget is prepared on the basis of the budgeted rate i.e. fixed and variable cost per…
Q: (c2) Estimated daily production costs for April 1 using both the high-low method and the regression…
A: Mixed cost refers to that cost which has both a variable cost as well as a fixed cost. Total…
Q: The balance sheets of Butler, Incorporated and its 70%-owned subsidiary, Cassie Corporation, which…
A: The cash flow statement is prepared at the end of the period to know the cash position. It reflects…
Q: pplying Overhead to Jobs, Costing Jobs agjit Company designs and builds retaining walls for…
A: Direct material cost is the cost of raw material produced or purchased to produce the final…
Q: The accountant of Coronado Shoe Co. has compiled the following information from the company's…
A: Answer:- Income statement meaning:- Income statement means the statement which show the cost of…
Q: Exercise 3-6 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement…
A: SCHEDULE OF COST OF GOODS MANUFACTUREDSchedule Of Cost Of Goods Manufactured are those costs which…
Q: You are provided the following details about a company for a month: Budgeted Unit Sales 80,000…
A: The Direct labor costs are estimated based on units produced not the units sold. So, the units sold…
Q: Required information [The following information applies to the questions displayed below] Financial…
A: EARNINGS PER SHAREEarnings per share indicate the profits per share of common stockholders. It can…
Q: Required: Prepare journal entries to record Maple's import and export transactions during 20X5 and…
A: The foreign currency gain or loss is the amount which has been to the company through when there are…
Q: [The following information applies to th questions displayed below.] A company began 2024 with…
A: Lets understand the basics.The inventory valuation method includes:FIFO methodLIFO methodWeighted…
Q: $5,000 $420 $510 $640 $670 $210 $250 Sales revenue Purchases of direct materials Direct labor…
A: The cost of goods manufactured is the total cost of producing the goods. It includes direct material…
Q: Chaz Corporation has taxable income in 2023 of $1,312,000 for purposes of computing the §179 expense…
A: It is depreciation method that provides greater accelerated depreciation in the initial years of…
Q: In your audit of James Smith Company, you find that a physical inventory on December 31, 2020,…
A: Answer:- Balance sheet meaning:- Balance sheet is one of the most important financial statements of…
Q: In your role as an accountant, conduct a comprehensive evaluation of the relationship between the…
A: Journal: The journal is the initial entry point where all financial transactions are recorded…
Q: Preparing Adjusting Entries Prepare adjusting journal entries for the year ended (date of) December…
A: Journal Entry :— It is an act of recording transactions in books of account when transaction…
Q: Variable selling and administrative costs Fixed selling and administrative costs Total costs $…
A: A special order refers to a unique or customized request for goods or services that deviates from a…
Q: Horizontal analysis Two income statements for Paragon Company follow: Paragon Company Income…
A: Horizontal analysis of income statement :— It is one of the types of income statement in which two…
Q: Cherokee Incorporated is a merchandiser that provided the following information: Number of units…
A: The traditional income statement is a statement that uses the cost of goods sold to derive gross…
Q: Green Thumb Gardening is a small gardening service using activity-based costing to estimate costs…
A: Activity-Based Costing is an accounting and costing methodology used by organizations to allocate…
Q: Use the following to answer questions 43-45: Stiner Company has a materials price standard of $2.00…
A: Material variance :— It is the difference between standard cost of direct material for actual…
Q: Reporting Discontinued Operations On October 31, Leigh Corp. approved a formal plan to dispose of…
A: The income statement describes a company's financial performance over a particular time period. The…
Q: Management expects December's results to be repeated in January, February, and March of 2018 without…
A: An income statement is a financial statement that lists the revenue and expenses of the company.…
Q: There are two classes of adjustments: Accrualsand Deferrals. Accrualsinvolve which of the following…
A: Accruals means recording of accrued expenses in the business. Deferrals means adjusted earned…
Q: Supplies Unearned Revenue Supplies Expense Cash Accounts Receivable Accounts Payable Rent Expense…
A: The net income or loss is calculated as the difference between the revenue and expenses. The owners'…
Q: Skip to question [The following information applies to the questions displayed below.] Henna Company…
A: Contribution means the difference between the selling price and variable cost .Fixed cost when…
Q: Merati Corporation has two manufacturing departments--Forming and Assembly. The company used the…
A: Answer:-Predetermined overhead rate:- An indirect cost rate is one that has been predetermined. The…
Q: ABC Company is the manufacturer of a low-noise air-purification system. Its current capacity is…
A: Any expenses that vary according to how much a business produces and sells are considered variable…
Q: Vernon Car Wash, Incorporated expected to wash 1,000 cars during the month of August. Washing each…
A: Labor usage variance = (standard hours - actual hours) * standard rate
Q: (c2) Estimated daily production costs for April 1 using both the high-low method and the regression…
A: Mixed cost refers to that cost which has both a variable cost as well as a fixed cost. Total…
Q: Journal entry worksheet < B C A Note: Enter debits before credits. Purchases of supplies for cash…
A: Journal entries are the basic method for recording financial transactions in the books of accounts.…
Q: Current Attempt in Progress 4 From the following list of independent events (a) state whether the…
A: As per the money measurement concept only those transactions are recorded in the books of the…
Q: Use the following to answer questions 16-20 Determine the company's cash flows based on the…
A: The cash flow statement is one of the important financial statements of the business. It is prepared…
Q: Vernon Car Wash, Incorporated expected to wash 1,000 cars during the month of August. Washing each…
A: Variance is the difference between the standard costs and the actual costs. These are determined to…
Q: Break-Even Point Sheridan Inc. sells a product for $96 per unit. The variable cost is $65 per unit,…
A: Break even point is the sales level at which the company incur no profit or no loss. At break even…
Q: Ivanhoe Company has decided to introduce a new product. The new product can be manufactured by…
A: The break-even point relates to the point at which a company neither makes a profit nor incurs a…
Q: Ending Finished Goods Inventory Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch…
A: FINISHED GOODS INVENTORYFinished Goods Inventory represents the value of stock that is present in…
Q: Current Attempt in Progress Sedgwick Company at December 31 has cash $20,000, noncash assets…
A: The partnership comes into existence when two or more persons agree to do the business and share…
Q: Question 31 Bell's Shop can make 1,000 units of a necessary component with the following costs:…
A: Relevant cost is the cost that is different between different alternatives. This cost is considered…
Q: Required information [The following information applies to the questions displayed below.] Hudson…
A: Break even analysis : Break even point is the point where total sales revenue is equal to total…
Q: Cost allocation bases are ideally based on a cause and effect basis. That is not always easy when…
A: Cost allocation is the process of assigning or distributing a company's indirect costs to various…
Q: Brian Landscaping plants grass seed as the basic landscaping for business campuses. During a recent…
A: Answer:- The term "variance report" refers to a document that contrasts the anticipated and actual…
Q: A company has the following activities and costs: machine setup of $5,000 per setup and factory…
A: The activity rates are calculated as the estimated activity cost divided by the estimated activity…
Q: Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. It makes…
A: As per the Honor code of Bartleby we are bound to give the answer of the first three sub parts only,…
Q: Required information [The following information applies to the questions displayed below.] Assume…
A: The accounting equation is a mathematical representation of financial transactions. The accounting…
Q: In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa…
A: The percentage of completion method is useful when a construction spans over multiple years and the…
Q: On April 1, Sunland Travel Agency, Inc. began operations. The following transactions were completed…
A: As per dual concept of accounting, every transaction has dual impact on the books of accounts.Assets…
Q: Saved Multiple Choice Help Save & Exit A company had common stock with a total par value of…
A: A non controlling interest is the minority interest, in which shareholders own less than 50% of…
Q: Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting…
A: Answer:- The identification of the overall direct cost of producing the product is related to the…
Q: use a minus sign. Bankhead, Inc. Statement of Cash Flows (Direct Method) For the Year Ended December…
A: Lets understand the basics.The cash flow statement is prepared to record the cash flow from various…
Q: Selling price Kg 4.6 5.1 5.6 et market share is 5% elling rice/Kg Variable cost/Kg $2.5 2.7 2.9 4.6…
A: Variance analysis is a technique used in financial and performance management to compare actual…
Please do not give solution in image format thanku
Step by step
Solved in 4 steps
- Use the information below to answer the following question(s). Franscioso Company sells several products. Information of average revenue and costs is as follows: Selling price per unit $28.50 Variable costs per unit: Direct material $5.25 Direct manufacturing labour $1.15 Manufacturing overhead $0.25 Selling costs $1.85 Annual fixed costs $110,000 The Franscioso Company contribution margin ratio is O A. 0.702:1. O B. 1.425:1. O C. 0.298:1. O D. 1.102:1. O E. 0.637:1.Best Windows is a small company that installs windows. Its cost structure is as follows: Selling price from each window installation Variable cost of each window installation Annual fixed costs $ $ $ 160,000 Use (a) the equation method and (b) the contribution method to calculate operating income if Best installs 4,000 windows. Use (a) the Equation method to calculate operating income if Best installs 4,000 windows. Begin by determining the formula to calculate the operating income using the equation method. Then, calculate the operating income. (Abbreviation used: FC = Fixed costs, SP = Selling price, VCU = Variable cost per unit, Q = Quantity of units sold.) X X )-( )-( X X 700 600 X = Operating income = Next, use (b) the contribution method to calculate operating income if Best installs 4,000 windows. Begin by determining the formula to calculate the operating income using the contribution method. Then, calculate the operating income. = Operating incomeBernard Windows is a small company that installs windows. Its cost structure is as follows: Selling price from each window installation $500 Variable cost of each window installation $400 Annual fixed costs $150,000 Use (a) the Equation method and (b) the contribution method to calculate operating income if Bernard installs 2,000 windows. Use (a) the Equation method to calculate operating income if Bernard installs 2,000 windows. Begin by determining the formula to calculate the operating income using the equation method. Then, calculate the operating income. (Abbreviation used: FC = Fixed costs, SP = Selling price, VCU = Variable cost per unit, Q = Quantity of units sold.) ( × ) - ( × ) - = Operating income ( × ) - ( × ) - =
- Cullumber Company makes three models of tasers. Information on the three products is given below. Sales Variable expenses Contribution margin Fixed expenses Net income (a) Net income $ (b) Shocker Net Income Tingler $300,000 $500,000 Tingler Net Income $ Total Net Income (c) Why or why not? Compute current net income for Cullumber Company. ta Net income would 151,400 148,600 $ 119,400 S $29,200 Fixed expenses consist of $298,000 of common costs allocated to the three products based on relative sales, as well as direct fixed expenses unique to each model of $30,000 (Tingler), $80,800 (Shocker), and $34,300 (Stunner). The common costs will be incurred regardless of how many models are produced. The direct fixed expenses would be eliminated if that model is phased out. James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income. Shocker 197,000 303,000 229,800 $73,200 Compute net income by product line and in total for…Accel Corp makes two products: C and D. The following data have been summarized (Click the icon to view the data.) Accel Corp desires a 28% target gross profit after covering all product costs. Considering the total product costs assigned to the Products C and D, what would Accel have to charge the customer to achieve that gross profit? Round to two decimal places Begin by selecting the formula to compute the amount that the company should charge for each product Direct labor cost per unit Direct materials cost per unit Indirect manufacturing cost per unit Product cost as a percentage of sales price Target gross profit percentage Total product cost per unit Get more help. Clear all Show work Required sales price per unit Check answerWindows is a small company that installs windows. Its cost structure is as follows: Selling price from each window installation $500 Variable cost of each window installation $400 Annual fixed costs $150,000 Use (a) the Equation method and (b) the contribution method to calculate operating income if Bernard installs 2,000 windows. Use (a) the Equation method to calculate operating income if Bernard installs 2,000 windows. Begin by determining the formula to calculate the operating income using the equation method. Then, calculate the operating income. (Abbreviation used: FC = Fixed costs, SP = Selling price, VCU = Variable cost per unit, Q = Quantity of units sold.) ( SP × Q ) - ( VCU × Q ) - FC = Operating income ( $500 × 2,000 ) - ( $400 × 2,000 ) - $150,000 = $50,000 Next, use (b) the contribution method to calculate operating income if Bernard…
- Rongon Company manufactures twotypes of product. Selected information is given below:FantasyJoySelling price per unit$25$150Variable expenses per unit$15$35Number of units sold annually20,0005,000Fixed expenses total $480,800 per year. Required: i.Assuming the sales mix given above, do the following: a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole. b. Compute the break-even point in dollars for the company as awhole and the margin of safety in both dollars and percent.ii.The company has developed a new product to be called Delight. Assume that the company could sell 10,000 units at $65each. The variable expenses would be $58each. The company’s fixed expenses would not change. a. Prepare another contribution format income statement, including sales of the Samoan Delight (sales of the other two products would not change). b. Compute the company’s new break-even point in dollars and the new margin…Northenscold Company sells several products. Information of average revenue and costs are as follows: Selling price per unit $20.00 Variable costs per unit: Direct materials $4.00 Direct manufacturing labor $2.00 ABC cost per unit $0.50 Fixed MOH $0.40 Variable MOH $0.30 Selling costs $2.00 Annual fixed costs $96,000 Calculate the number of units Northenscold's must sell to yield a profit of $144,000. (round to nearest whole unit).The total revenue function for a product is given by R=805 x dollars, and the total cost function for this same product is given by c=24500+70x+x square, where C is measured in dollars. For both functions, the input x is the number of units produced and sold. a. Form the profit function for this product from the two given functions. b. What is the profit when 26 units are produced and sold? c. What is the profit when 40 units are produced and sold? d. How many units must be sold to break even on this product?
- Johnson Company manufactures and sells a single product. The company's sales and expenses for last year follow: E(Click the icon to view the information.) X Data Table Read the requirements Requirement 1. Fill in the missing numbers in the table. Use the following questions to help fill in the missing numbers in the table: Total Per Unit % a. What is the total contribution margin? $ 81,250 $ Sales 25 ? The total contribution margin is $ ? Variable expenses Contribution.margin. 13,000 Fixed expenses $ 19,500 Operating income Done PrintSpectrum Corp. makes two products: C and D. The following data have been summarized: (Click the icon to view the data.) Spectrum Corp. desires a 27% target gross profit after covering all product costs. Considering the total product costs assigned to the Products C and D, what would Spectrum have to charge the customer to achieve that gross profit? Round to two decimal places. Begin by selecting the formula to compute the amount that the company should charge for each product. Total product cost per unit Spectrum should charge 2091.10 for Product C. Data table Direct materials cost per unit Direct labor cost per unit Indirect manufacturing cost per unit Total costs assigned Print Product cost as a percentage of sales price Product C $ 900.00 $ 400.00 226.50 $ 1,526.50 $ Done Product D 2,400.00 100.00 531.00 3,031.00 X = Required sales price per unit GThe following is yearly information on two main sources for the company profit: Row material Labor cost Unit made Demand price cost PRODUCT A $30 $100 3000 1850 250 PRODUCT B $45 $78 2500 2100 170 The fixed cost is estimated to be $1000 annually. Based on the above information find the following: 1- The company yearly profit 2- Use goal seek to find the following a. At what PRODUCT B demand both products will generate the same revenuc? b. How much they should produce from each Product A and B, to reach a profit of $500,00, if the demand of them is equal to .75 of the production and Product A should be 50% of Product B. 3- If the company will sell the same amount from Product A and Product B which represents 65% for Product A and 76% for Production B, how much they should produce from both the get profit of $750,000