ACCT2003 Final Exam $3 2021.docx - Word Draw Design Layout References Mailings Rev 12 AA Aa A xx'A- Font A 5 uz: LVP Analysis Losting Methods 120 Marks) Paragraph Superb Stained Glass is a business that produces and sells three different types of stained glass windows: small, medium, and liege. The business has two full time employees who work regular schedules to cut glass and assemble the windows The owner borrowed money from the bank to start the business and pay living expenses. She a concerned that her cash flows might not be high enough either to pay herself or to repay the bank loan. She would like to generate approximately $10000 in pre-tax profit each month to cover her living expenses and repay the loan. The following revenue and cost information covers the past four months: Revenues June 59 050 July August September $10 531 512 946 516116 few materials and supplies 1745 2433 3074 4029 Labour 3880 4041 4246 4282 Re 2000 2000 2000 2200 Miscellaneous 525 701 747 Profit 5900 $1.356 $2879 793 54812 Required: 1. Develop a cost function for Superb Stained Glass. Make sure you include your assumptions and workings. There is more than one acceptable solution to this question so make sure you provide justification for how you have classified the costs as either fixed or variable and how you would estimate the costs into the future. [10 marks] 2. Using the cost function you calculated in (1) above, determine the level of revenue Superb Stained Glass must generate to achieve the targeted profit of $10 000 per month. [marks] English (Australia) earch