Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Help Needed please Presidential Corporation is a medium sized manufacturing company founded in 2012 to supply the Southern Caribbean with locally produced options. The Senior
Help Needed please
Presidential Corporation is a medium sized manufacturing company founded in 2012 to supply the Southern Caribbean with locally produced options. The Senior Accountant is preparing for a meeting with the executive leadership and has asked all management personnel to prepare reports and schedules based on their department and operational functions. The objective is to determine operational deficiencies and how they can reduce cost to meet customers' budget, while making a profit. Part A Presidential uses a Job Order Costing System to record production costs. Overheads are applied to each job on the basis of direct labour hours. Relevant information for 2022 is as follows: Required: a. Compute the pre-determined overhead application rate. b. Compute the amount of overheads applied to production for the month of January c. Determine the over- or under-applied overhead for January. Question 2 Part B Presidential produces a phone case from recycled cardboard. Information for this product is as follows: Required: a. Compute the Contribution Margin per unit. b. Compute the Break Even Point in units. c. Compute the number of cases that must be sold to earn an operating income of $30,000 per month. d. If the selling price per lamp was reduced by $20, determine: (i) the break even point in dollars. (ii) the sales volume, in units, required to still earn an operating income of $30,000 per monthStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started