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Cost variable accounting help needed. Any help would be appreciated ACCTG 211 COMPREHENSIVE PROBLEM 6: BOARDS 4 ? 10/25/2015 Comprehensive Problem has a value of

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Cost variable accounting help needed. Any help would be appreciated

image text in transcribed ACCTG 211 COMPREHENSIVE PROBLEM 6: BOARDS 4 ? 10/25/2015 Comprehensive Problem has a value of 10% of your final grade. Objectives: Demonstrate the application of the accounting concepts related to Cost Behavior and Cost - Volume-Profit interactions. Apply the Cost-Volume-Profit relationship to determine target profits Calculate the Required Sales Mix to break even. Calculate the Variable and Fixed Costs in a Mixed Cost scenario Determine Production Budgets based upon the Sales Projection. Part 1. 20% Boards 4 Brides customizes standard board games to depict places and events for the happy couple. These are then provided to the guests at the wedding reception. Boards 4 Brides has the following historical information and is going to use the High - Low method to determine its pricing schedule. Using the following data, determine what Boards 4 Brides must charge for a wedding with 500 guests in order to show a profit of $1,200. # Persons $ Costs 200 700 380 900 425 $ 1700 $ 5200 $ 3040 $ 6850 $ 3500 Part 2. 40% Boards 4 Bucks sells 3 different Board Games: MakinMoney (MM), UpNDown (UD), ChexNBalances (CB) Last year Boards4Bucks sold 36,000 MM games, 63,000 UD games, and 81,000 CB games. MM sells for $22 with a variable cost of $8 UD sells for $28 with a variable cost of $6 CB sells for $35 with a variable cost of $11 Fixed Costs for Boards4Bucks are $3,894,562. The company anticipates that the sales mix proportions will remain the same. For the next year, how many board games of each title must Boards 4 Bucks sell to break even? MM KLINE 1 ACCTG 211 COMPREHENSIVE PROBLEM 6: BOARDS 4 ? 10/25/2015 Part 3. 40% Boards 4 Boomers manufactures retro board games. The company is going through its annual budgeting process. Using the following data, determine the $ Amount that must be budgeted for Direct Materials, Direct Labor, and Factory Overhead. How much will Boards 4 Boomers spend to meet the Production Budget? Projected Sales: 1,250,000 games Inventory Buffer Required: 100,000 Finished Goods Inventory: 68,000 DM Inventory Buffer Required: 70,000 parts DM Current Inventory: 65,000 parts DM = 7 parts / game DM$ = $2.25 / part DL = 20 minutes per part DL$ = $21.75 / hour Factory Overhead is Allocated at $1.10 per game MM KLINE 2

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