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Could I get some helping working through this set of accounting problems? Managerial Accounting Course Workbook Assignments Must Be Submitted as Indicated The data below
Could I get some helping working through this set of accounting problems?
Managerial Accounting Course Workbook Assignments Must Be Submitted as Indicated The data below have been taken from the cost records of the Ivanhoe Book Company. The data relate to the cost of operating one of the company's processing facilities at various levels of activity: Month January..... February..... March..... April..... May..... June..... July..... August..... Books Processed 8,000 4,500 7,000 9,000 3,750 6,000 3,000 5,000 Total Cost $16,000 $10,000 $12,500 $15,500 $7,000 $12,500 $8,500 $11,500 Required: 1. Using the high low method, what is the approximate monthly fixed cost? The approximate variable cost per unit processed? 2. Give the model that predicts cost - appropriately label the variables. 3. What would you expect total variable costs be be with 5600 books 4. What would you expect total fixed costs to to with 5600 books processed? processed? 5. What would you expect total costs to be with 5600 books processed? 6. Use least square regression to develop a model that predicts cost appropriately label the variables. 7. Using the model from #6, what would you expect total fixed costs to be with 5600 books processed? 8. Using the model from #6, what would you expect total variable costs to be with 5600 books processed? 9. Using the model from #6, what would you expect total costs to be with 5600 books processed? Computational Problem 2 Kiefer Hockey Corporation has a single product, a high powered hockey stick whose selling price is $140 and whose variable cost is $60 per unit. The company's monthly fixed expense is $40,000. Required: 1. Solve for the unit sales that are required to earn a target profit of $6,000. 2. Solve for the dollar sales that are required to each a target profit of $8,000. Computational Problem 3 The Glee Club is planning its annual Arch Extravaganza. The Extravaganza committee has assembled the following expected costs for the event: Dinner (per person) $7 Drink Glasses and Souvenirs (per person) Band Tickets and advertising $3 $1,500 $700 Arch rental $4,800 Music and magicians $1,000 The committee members would like to charge $30 per person for the evening's activities. Required: 1. Compute the break-even point for the Extravaganza (in terms of the number of persons that must attend). 2. Assume that only 250 persons attended the Extravaganza last year. If the same number of guests attend this year, what price per ticket must be charged to break evenStep by Step Solution
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