17 Oct 1. A partial listing of costs incurred at SueBelle Corporation during October appears below: Direct Materials $195,0
1. A partial listing of costs incurred at SueBelle Corporation during October appears below:
|
Direct Materials |
$195,000 |
|
Utilities, Factory |
$9,000 |
|
Sales Commission |
$75,000 |
|
Administrative Salaries |
$113,000 |
|
Indirect Labor |
$30,000 |
|
Advertising |
$119,000 |
|
Depreciation of Production Equipment |
$28,000 |
|
Direct Labor |
$105,000 |
|
Depreciation of Administrative Equipment |
$44,000 |
Based on the information provided, answer the following questions:
- What is the total amount of product cost listed above? Show your work.
- What is the total amount of period cost listed above? Show your work.
There is not a word length requirement for this question; however, you must show your work.
2. Bell Corporation reports that at an activity level of 8,700 units, its total variable cost is $653,109, and its total fixed cost is $658,416.
Required: For the activity level of 8,800 units, assume this level is within the relevant range. Compute:
- the total variable cost,
- the total fixed cost,
- the total cost,
- the average variable cost per unit,
- the average fixed cost per unit, and
- the average total cost per unit.
There is not a word length requirement for this question; however, you must show your work.
|
Cosgrove Company Traditional Format Income Statement For the Three Months Ended June 30 |
|||
|
|
April |
May |
June |
|
Sales in Units |
3,000 |
3,750 |
4,500 |
|
|
|
|
|
|
Sales Revenue |
420,000 |
525,000 |
630,000 |
|
Cost of Goods Sold |
168,000 |
210,000 |
252,000 |
|
Gross Margin |
252,000 |
315,000 |
378,000 |
|
Selling and Administrative Expenses: |
|
|
|
|
Shipping Expense |
44,000 |
50,000 |
56,000 |
|
Advertising Expense |
70,000 |
70,000 |
70,000 |
|
Salaries and Commissions |
107,000 |
125,000 |
143,000 |
|
Insurance Expense |
9,000 |
9,000 |
9,000 |
|
Depreciation Expense |
42,000 |
42,000 |
42,000 |
|
Total Selling and Administrative Expenses |
272,000 |
296,000 |
320,000 |
|
Net Operating Income (Loss) |
$(20,000) |
$19,000 |
$58,000 |
Required:
- Identify the fixed and variable costs associated with Cosgrove.
- Calculate the average costs per month.
There is not a word length requirement for this question; however, you must show your work.
4. Explain how sunk costs create a barrier to entry into the market place.
Your response must be at least 200 words in length.
Based on what you have learned from this unit, and based on your personal preferences, identify which type of company for which you would prefer to work as a managerial accountant. Be sure to provide specific reasoning to support your answer.
Your response must be at least 200 words in length.
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