Homework: Comprehensive Problem 1 for Chp M:1 - M:5 Save Score: 0 of 1 pt 1 of 1 (0 complete) HW Score: 0%, 0 of 1 pt CompM5-1 (similar to) Question Help For the same time period, the Jamestown Shirt Company compiled the following data for the Custom Design Department: (Click the icon to view the Custom Design data.) Read the equirement The Jarnestowri Shirt Compariy makes two types of T-shirts: basic and custom. (Click the icon to view the additional information.) For March 2024, the Jamestown Shirt Company compiled the following data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) (Click the Icon to view the Sewing data.) Production Cost Report-Cutting Department Month Ended March 31, 2024 Equlvalent Units Transferred Conversion Whole Units Direct Materials UNITS In Costs Units to account for: Total units to account for Units accounted for nia nia nia Total unils accounted for Choose from any list or enter any number in the input fields and then click Check Answer. 24 parts remaining Clear All Check Answer Save Homework: Comprehensive Problem 1 for Chp M:1 - M:5 1 0 CompM5-1 (similar to) Score: 0 of 1 pt 1 of 1 (0 complete) HW Score: 0%, 0 of 1 pt Requirements The Jamestown Shirt Company makes two types of T-shirts: basic and custom. (Click the icon to view the additional information.) For March 2024, the Jamestown Shirt Company compiled the following data for the Cutting and Sewing Depa (Click the icon to view the Cutting data.) (Click the loon to view the Sewing data. Production Cost Report-Cutting Department Month Ended March 31, 2024 Equivalent Units Whole Transferred Direct Conversion UNITS Units In Materials 1. Complete a production cost report for the Cutting Department and the Sewing Department. What is the cost of one basic shirt? 2. Determine the total cost and the average cost per shirt for jobs 367, 368,369, and 370. If the company set the sales price at 160% of the total cost, determine the total sales price of each job. 3. In addition to the custom jobs, the Jamestown Shirt Company sold 1,350 basic shirts (assume the beginning balance in Finished Goods Inventory is sufficient to make these sales, and the unit cost of the basic shirts in Finished Goods Inventory is the same as the unit cost incurred this month). If the company set the sales price at 125% of the cost, determine the sales price per unit, total sales revenue, total cost of goods sold, and total gross profit for the basic shirts. 4. Calculate the total revenue, total cost of goods sold, and total gross profit for all sales, basic and custom. 5. Assume the company sold only basic shirts (no custom designs) and incurred fixed costs of S575 per month. a. Calculate the contribution margin per unit contribution margin ratio, required sales in units to break even, and required sales in dollars to break even. b. Determine the margin of safety in units and dollars c. Graph Jamestown Shirt Company's CVP relationships. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, and the operating income area. d. Suppose the Jamestown Shirt Company wants to carn an operating income of $1,200 per month. Compute the required sales in units and dollars to achieve this profit goal. 6. The Jamestown Shirt Company is considering adding a new product line, a cloth shopping bag with custom screen printing that will be sold to grocery stores. If the current market price of cloth shopping bags is $1.88 and the company desires a net profit of 60%, what is the target cost? The company estimates the full product cost of the cloth bags will be $0.65. Should the company manufacture the cloth bags? Why or why not? Costs Units to account for: Total units to account for Units accounted for: nia a' Total units accounted for Choose from any list or enter any number in the input fields and then click Check Answer. Print Done 24 parts Clear All remaining Check Answer Homework: Comprehensive Problem 1 for Chp M:1 - M:5 Save Score: 0 of 1 pt 1 of 1 (0 completa) HW Score: 0%, 0 of 1 pt CompM5-1 (similar to) Question Help 0 The Jamestown Shirt Company makes two types of T-shirts: basic and custom For the sal More Info sign Departmed (Click the icon to view the additional information.) (Click For March 2024, the Jamestown Shirt Company compiled the following data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) Read the Basic shirts are plain shirts without any screen printing on them. Custom shirts are (Click the icon to view the Sewing data. created using the basic shirts and then adding a custom screen printing design. The company buys cloth in various colors and then makes the basic shirts in two Production Cost Report-Cutting Department departments, Cutting and Sewing. The company uses a process costing system Month Ended March 31, 2024 {weighted average method) to determine the production cost of the basic shirts. In Equivalent Units the Cutting Department, direct materials (cloth) are added at the beginning of the process and conversion costs are added evenly through the process. In the Whole Transferred Direct Conversion Sewing Department, no direct materials are added. The only additional material, thread, is considered an indirect material because it cannot be easily traced to the UNITS Units In Materials Costs finished product. Conversion costs are added evenly throughout the process in the Sewing Department. The finished basic shirts are sold to retail stores or are sent to Units to account for the Custom Design Department for custom screen printing. The Custom Design Department creates custom shirts by adding screen printing to the basic shirt. The department creates a design based on the customer's request and then prints the design using up to four colors. Because these shirts have the Total units to account for custom printing added, which is unique for each order, the additional cost incurred is determined using job order costing, with each custom order considered a separate job. Units accounted for: nila Print Done nia nia Total units accounted for Choose from any list or enter any number in the input fields and then click Check Answer. ? 24 parts remaining Clear All Check Answer Homework: Comprehensive Problem 1 for Chp M:1 - M:5 Save Score: 0 of 1 pt 0 1 1 of 1 (0 complete) 1 (0 HW Score: 0%, 0 of 1 pt CompM5-1 (similar to) Question Help The Jamestown Shirt Company makes two types of T-shirts: basic and custom. For the same time period, the Jamestown Shirt Company compiled the following data for the Custom Design i (Click the icon to view the additional information.) Department: (Click the icon to view the Custom Design data.) For March 2024, the Jamestown Shirt Company compiled the following data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) Read the requirements (Click the icon to view the Sewing data.) Production Cost Report-Cutting Department Month Ended March 31, 2024 Data Table Equivalent Units Whole Transferred Direct Conversion UNITS Units In Materials Costs Cutting Department Amount Units Units to account for: Beginning balance $ 0 O shirts Started in March 1,600 shirts Direct materials added in March 2,080 Conversion costs 2.400 Total units to account for Completed and transferred to Sewing ??? 1,600 shirts Ending balance 0 O shirts Units accounted for n/a Print Prini Dono Done nila nila Total units accounted for Choose from any list or enter any number in the input fields and then click Check Answer ? 24 parts remaining Clear All Check Answer Homework: Comprehensive Problem 1 for Chp M:1 - M:5 Save Score: 0 of 1 pt 1 of 1 (0 complete) HW Score: 0%, 0 of 1 pt CompM5-1 (similar to) Question Help 0 The Jamestown Shirt Company makes two types of T-shirts: basic and custom. (Click the icon to view the additional information.) For the same time period, the Jamestown Shirt Company compiled the following data for the Custom Design Department: E (Click the icon to view the Custom Design data.) Read the requirements. . For March 2024, the Jamestown Shirt Company compiled the following data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data) (Click the icon to view the Sewing data.) Production Cost Report-Cutting Department Month Ended March 31, 2024 Equivalent Units Whole Transferred Direct Conversion UNITS Units In Materials Costs Data Table Amount $ 400 Units 100 shirts Units to account for: ??? ??? Sewing Department Beginning balance, transferred in, $280; conversion costs, $120 Transferred in from Cutting Conversion costs added in March Completed and transferred to Finished Goods Ending balance, 80% complete 1,836 772 1,350 shirts Total units to account for 777 777 Units accounted for: nia Print Dane nia nila Total units accounted for Choose from any list or enter any number in the input fields and then click Check Answer. ? 24 parts remaining Clear All Check Answer Save Homework: Comprehensive Problem 1 for Chp M:1 - M:5 0 1 CompM5-1 (similar to) Score: 0 of 1 pt 1 of 1 (0 complete) HW Score: 0%, 0 of 1 pt Question Help For the same time period, the Jamestown Shirt Company compiled the following data for the Custom Design Department: (Click the icon to view the Custom Design data.) Read the requirements. The Jamestown Shirt Company makes two types of T-shirts: basic and custom. (Click the icon to view the additional information.) For March 2024, the Jamestown Shirt Company compiled the following data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) (Click the icon to view the Sewing data.) Production Cost Report-Cutting Department Month Ended March 31, 2024 Equivalent Units Whole Transferred Direct Conversion UNITS Units In Materials Costs Units to account for A Data Table Job Quantity Design Fee Printing Status 367 200 Yes 4 colors 250 No 3 colors 368 369 Complete Complete Complete Complete 150 Yes 2 colors 370 300 Yes 5 colors Total units to account for Units accounted for: The Jamestown Shirt Company has previously determined that creating and programming the design cost $70 per design. This is a one-time charge. If a customer places another order with the same design, the customer is not charged a second time. Additionally, the cost to print is $0.40 per color per shirt. n/a nia a' Total unils accounted for Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 24 parts remaining Clear All Check