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A company sells two products: radios and speakers. The expected sales for radios were 1,500 units;...
Quill Pen Company manufactures two lines of pens: super and executive. Budgeted and actual contri...
Quill Pen Company manufactures two lines of pens: super and executive. Budgeted and actual contribution margin statements follow: Quill Pen Company Budget and actual contribution statements for the year ended 31 December (in '000s) Budget Actual Total Super 150 $900 450 $450 Executive Total Super 130 $780 390 $390 Executive Unit sales Sales revenue Variable expenses Contribution margin Fixed expenses 100 $1000 750 250 250 $1900 1200 700 130 $1 235 975 S 260 260 $2015 1365 650 S 190...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year Create an Income Statement Performance Report, including favourable/unfavourable ratings for all Flex Budget...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year Create an Income Statement Performance Report, including favourable/unfavourable ratings for all Flex Budget...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year Create an Income Statement Performance Report, including favourable/unfavourable ratings for all Flex Budget...
Elsworth Inc. manufactures and sells two fruit drinks: Kostor and Limba. Budgeted and actual results for...
Elsworth Inc. manufactures and sells two fruit drinks: Kostor and Limba. Budgeted and actual results for 2017 are as follows: (Click the icon to view the budgeted and actual results.) Read the requirements Requirement 1. Compute the total sales volume variance, the total sales-mix variance, and the total sales-quantity variance (Calculate all variances in terms of contribution margin.) Show results for each product in your computations, Begin by completing the following table to determine the budgeted contribution margin per unit,...
Ceder Company has compiled the following data for the upcoming year: Sales are expected to be...
Ceder Company has compiled the following data for the upcoming year: Sales are expected to be 15,000 units at $41.00 each. Each unit requires 2 pounds of direct materials at $2.00 per pound. Each unit requires 1.5 hours of direct labor at $15.00 per hour. Manufacturing overhead is $3.00 per unit. Beginning raw materials inventory is $3,500.00. Ending raw materials inventory is $4,100.00. Selling and administrative costs totaled $135,870.00. Required: 1. Determine Ceder's budgeted cost of goods sold. Budgeted...
Assume sales and demand are 1,500 units, how much will the company make on the sale...
Assume sales and demand are 1,500 units, how much will the company make on the sale of the next unit (1,501st)? Discuss which costs will change if the company makes and sells one more unit. Will the company make a profit on the unit if they sell at a price below your answer in 2? Please discuss your calculations and reference to Figure 1. Figure 1: Total at 2,000 Units Per Unit Sales $600,000 $300 Variable Costs 321,000 160.5 Contribution...
Courtney Company uses a periodic inventory system. The following data were available: beginning inventory, 1,500 units...
Courtney Company uses a periodic inventory system. The following data were available: beginning inventory, 1,500 units at $30; purchases, 4,500 units at $40; operating expenses (excluding income taxes), $99,000; ending inventory per physical count at December 31, 1,500 units; sales price per unit, $70; and average income tax rate, 30%. Required: 1. Prepare income statements under the FIFO, LIFO, and weighted average costing methods. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Units FIFO...
C14 on 158 90 153 19 143 Exercise 4-13 Stellar, Inc., produces stereo speakers. The selling...
C14 on 158 90 153 19 143 Exercise 4-13 Stellar, Inc., produces stereo speakers. The selling price per pair of speakers is $1,000. The variable cost of production is $350 and the feed cost per month is 547.600. Calculate the contribution margin associated with a pair of speakers Contribution margin In August, the company sold 9 more pairs of speakers than planned. What is the expected effect on profit of selling the additional speakers? Profit wil Calculate the contribution margin...
Quill Pen Company manufactures two lines of pens: super and executive. Budgeted and actual contribution margin statements follow: Quill Pen Company Budget and actual contribution statements for the year ended 31 December (in '000s) Budget Actual Total Super 150 $900 450 $450 Executive Total Super 130 $780 390 $390 Executive Unit sales Sales revenue Variable expenses Contribution margin Fixed expenses 100 $1000 750 250 250 $1900 1200 700 130 $1 235 975 S 260 260 $2015 1365 650 S 190...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
Elsworth Inc. manufactures and sells two fruit drinks: Kostor and Limba. Budgeted and actual results for 2017 are as follows: (Click the icon to view the budgeted and actual results.) Read the requirements Requirement 1. Compute the total sales volume variance, the total sales-mix variance, and the total sales-quantity variance (Calculate all variances in terms of contribution margin.) Show results for each product in your computations, Begin by completing the following table to determine the budgeted contribution margin per unit,...
Courtney Company uses a periodic inventory system. The following data were available: beginning inventory, 1,500 units at $30; purchases, 4,500 units at $40; operating expenses (excluding income taxes), $99,000; ending inventory per physical count at December 31, 1,500 units; sales price per unit, $70; and average income tax rate, 30%. Required: 1. Prepare income statements under the FIFO, LIFO, and weighted average costing methods. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Units FIFO...
C14 on 158 90 153 19 143 Exercise 4-13 Stellar, Inc., produces stereo speakers. The selling price per pair of speakers is $1,000. The variable cost of production is $350 and the feed cost per month is 547.600. Calculate the contribution margin associated with a pair of speakers Contribution margin In August, the company sold 9 more pairs of speakers than planned. What is the expected effect on profit of selling the additional speakers? Profit wil Calculate the contribution margin...
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