C213
Problems A company's projected inventory purchase for the year are listed below.
50% of the purchase is paid in the month of purchase, 30% is paid in the month following the purchase
and 20% is paid in the second month following the purchase.
How much will be paid in the last six months of the year Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec 100,000
110,000
120,000
130,000
140,000
150,000
160,000
170,000
180,000
190,000
200,000
210,000 month following the purchase, C213
Problems A company has projected the following sales for the year.
60% is paid in cash. 40% is paid with credit.
Credit sales are collected 40% in the month of sale, 30% in the 1st month following the sale, and
20% in the 2nd month following the sale. How much will be collected in April? May? June? For the three January
February
March
April
May
June Sales
100,000
150,000
200,000
175,000
125,000
150,000 g the sale, and
? June? For the three months ending June 30? C213
Problems
A company's projected inventory purchase for the year are listed below.
30% of the purchase is paid in the month of purchase,
50% is paid in the month following the purchase,
20% is paid in the second month following the purchase.
How much will be paid in the last six months of the year Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec 100,000
110,000
120,000
130,000
140,000
150,000
160,000
170,000
180,000
190,000
200,000
210,000 C213
Problems
A company's projected inventory purchase for the year are listed below.
35% of the purchase is paid in the month of purchase,
35% is paid in the month following the purchase,
30% is paid in the second month following the purchase.
How much will be paid in the last six months of the year Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec 100,000
110,000
120,000
130,000
140,000
150,000
160,000
170,000
180,000
190,000
200,000
210,000 C213
Problems
A company has projected the following sales for the year.
30% is paid in cash.
70% is paid with credit.
Credit sales are collected as follows:
60% in the month of sale
30% in the 1st month following the sale, and
10% in the 2nd month following the sale.
How much will be collected in April? May? June? For the three months ending June 30? January
February
March
April
May
June 50,000
75,000
80,000
60,000
100,000
90,000 C213
Problems
A company has projected the following sales for the year.
75% is paid in cash.
25% is paid with credit.
Credit sales are collected as follows:
50% in the month of sale
30% in the 1st month following the sale, and
10% in the 2nd month following the sale.
How much will be collected in April? May? June? For the three months ending June 30? January
February
March
April
May
June 75,000
80,000
85,000
90,000
95,000
100,000 C213
Problems
A gaming manufacturing company makes the following products: dice, chips, and roulette wheels.
The company uses the following information to allocate overhead costs to each product.
What is the total amount of overhead applied to each product?
Cost object
Machine setups
Batches
Indirect material Cost
300,000
75,000
150,000 Cost Driver Number of setups
Number of batches
Number of orders Activity
Dice Chips Roulette
Wheels 30
20
10 25
30
5 20
10
25 roulette wheels. C213
Problems
ABC
Scorpion Company produces three products: Hammer, Wrenches, and Saws
The company uses ABC for allocating its overhead.
How much overhead will be applied to each product?
Cost Object
Machine utilities
Machine setups
Quality control
Product movement Cost Driver
Machine hours
Number of machine setups
Number of inspections
Forklift service Cost
126,000
38,000
32,500
39,900 Hanmmers
700
195
200
1,520 Cost Driver Activity
Wrenches
280
158
90
760 Saws
420
232
210
1,520 C213
Problems
ABC
Cherry Motorsports produces four products: rear deck fin, roof flaps, and roof strips.
The company uses ABC for allocating its overhead.
How much overhead will be applied to each product?
Cost Object
Machine utilities
Machine setups
Quality control
Product movement Cost Driver
Machine hours
Number of machine setups
Number of inspections
Forklift service Cost
18,750
80,250
21,000
80,000 Deck Fins
3,000
300
35
140 Cost Driver Activity
Roof Flaps
1,800
642
35
108 Roof Strips
2,700
128
105
152 oof strips. C213
Problems
A shoe manufacturer incurred the following costs during the first quarter of the year: Direct labor
Direct Materials
Manufacturing Overhead 780,000
500,000
900,000 The company produced 40,000 pairs of shoes and sold 35,000 pairs.
What was the cost of sales for the first quarter of the year? - If the sales were $5,000,000. How much was the gross profit? If fixed costs were $1,592,500, How much operating income (loss) did the company have for the first qu ompany have for the first quarter? C213
Problems The income statement of Santa's Toy Manufacturing Company had the following income statement for t
Production = 1,000,000 units
Sales
Direct Material
Direct Labor
Mfg Overhead
COS
Gross profit $ 850,000 270,000
380,000
247,000
897,000
(47,000) Overhead was applied at 65% of direct labor.
If the company increases the sales price per unit by $0.15. What will be the new gross profit? income statement for the month of November. gross profit? Cost - Volue- Profit
Cost per unit
Sales (revenue) $10 p/unit
Variable costs $3.40 p/unit
Fixed costs Cost
100,000
35,000
50,000 What is the break even in sales and units using the equation method? What is the brek even in sales and units using the CM per unit method? Equation Method: Sn - VC(n) - FC = 0 CM per unit method: FC / CM S = sales
VC = variable cost
FC = Fixed costs
CM = Sales per unit - variable cost per un per unit - variable cost per unit Cost-Volume-Profit 1 2. Cost-Volume-Profit Total variable costs increase as production increases. Does the per unit variable cost
increase, decrease, or remain the same over the relevant range? Fixed costs remain the same when production increases or decreases. Does the perunit fixed cost increase, decrease or remain the same over the relevant range? Cost-Volume -Profit Mario Brothers Products distributes a single product, water pipes, whose selling price is $15 and whose
variable expense is $12 per unit. The company’s monthly fixed expense is $4,200.
Required:
Solve for the company’s break-even point in unit sales using the equation method. distributes a single product, water pipes, whose selling price is $15 and whose
er unit. The company’s monthly fixed expense is $4,200. any’s break-even point in unit sales using the equation method. Cost Volume Profit Winterhaven School is raising money to purchase new choir robes.
The cost of the robes is $8,000, so the school will need to have a profit of $8,000 from the raffle. The raffle tickets sell for $10 each. The variable cost of the raffle ticket is $2 and the fixed cost is $8,000
Determine the sales volume required to achieve the target income. Cost Volume Profit Winterhaven School is raising money to purchase new choir robes.
The cost of the robes is $8,000, so the school will need to have a profit of $8,000 from the raffle. The raffle tickets sell for $10 each. The variable cost of the raffle ticket is $2 and the fixed cost is $8,000. Determine the sales volume required to achieve the target income.

 

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