Enabled: Assignment 2 i Morrisey & Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: Sales in units. Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total operating expenses Net income MORRISEY & BROWN, LTD. Income Statements For the Four Quarters Ending December 31 Quarter 1 Quarter 2 5,900 A$590,000 354,000 236,000 Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Saved 5,400 A$540,000 324,000 216,000 Classification 22,400 39,600 86,400 7,400 7,400 7,400 16,400 16,400 16,400 172,200 168,600 189,080 A$ 63,800 A$ 47,400 A$ 78,120 22,400 41,600 80,800 Quarter 3 6,680 A$668,000 400,800 267, 200 Prax 22,400 46,720 96,160 (Note: Morrisey & Brown, Ltd.'s Australian-formatted income statement has been recast into the format common in Canada. The Australian dollar is denoted by AS.) Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed. Quarter 4 6,000 A$600,000 360,000 240,000 1 of 10 22,400 41,320 93,120 7,400 16,400 180, 640 A$ 59,360 Help Save & E Next > A

Morrisey \& Brown, Ltd., of Sydney. Australia, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: (Note. Morrisey \& Brown, Ltdis Australian-formatted income statement has been recast into the format common in Canada. The Australian dollar is denoted by AS.) Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed. Siegel Corporation manufactures a product available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced several years ago to capture a new segment of the market. Since the introduction of the deluxe model, the company's profits have steadily declined, and management has become concerned about the accuracy of its costing system. Sales of the deluxe model have been increasing rapidly. Overhead is applied to products on the basis of direct labour-hours. At the beginning of the current year, management estimated that $2,219,800 in overhead costs would be incurred and the company would produce and sell 15,000 units of the deluxe model and 53,800 units of the regular model. The deluxe model requires 2.7 hours of direct labour time per unit, and the regular model requires 1.4 hours. Materials and labour costs follow: Required: 1. Compute the predetermined overhead rate using direct labour-hours as the basis for allocating overhead costs to products. Compute the unit product cost for one unit of each model. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Siegel Corporation manufactures a product available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced several years ago to capture a new segment of the market. Since the introduction of the deluxe model, the company's profits have steadily deciined, and management has become concerned about the accuracy of its costing system. Sales of the deluxe model have been increasing rapidly. Overhead is applied to products on the basis of direct labour-hours. At the beginning of the current year, management estimated that $2,219,800 in overhead costs would be incurred and the company would produce and sell 15,000 units of the deluxe model and 53.800 units of the regular model. The deluxe model requires 2.7 hours of direct labour time per unit, and the regular model requires 1.4 hours. Materials and labour costs follow: Required: 1. Compute the predetermined overhead rate using direct labour hours as the basis for allocating overhead costs to products. Compute the unit product cost for one unit of each model. (Do not round intermediate calculations. Round your answers to 2 decimal places.)