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How to solve question 1 with all subquestions? Using this excel template Farm Yard Friends (FYF) manufactures plush toys. There are three products Duck, Cow,

image text in transcribedHow to solve question 1 with all subquestions? Using this excel template
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Farm Yard Friends (FYF) manufactures plush toys. There are three products Duck, Cow, and Chicken. The selling price of the Duck, Cow, and Chicken are $25, 533, and $19 respectively The direct materials costs for the Duck, Cow, and Chicken are 28%, 30%, and 23% of selling price respectively. The other variable costs, consisting of direct labour and variable overhead costs for the Duck, Cow, and Chicken are 35%, 39%, and 32% respectively Budgeted fixed manufacturing costs and fixed selling, general, and administrative costs at FYF are $3,500,000 and $2,200,000 respectively The following table summarizes the above information and budgeted sal es of each of the three products and budgeted market size for each of the three products. Duck Cow Chicken Selling Price Direct Materials Cost Other Variable Costs Contribution Margin $25.00 7.00 8.75 $33.00 9.90 12.87 $9.25 $10.23 $19.00 4.37 6.08 $8.55 Direct Materials Cost % Other Variable Costs % 28.00% 35.00%; 30.00% 39.00% 23.00% 32.00% Fixed Costs Manufacturing $3,500,000 $2,200,000 SGA Static Budget Sales Budget Market Size 250,000 240,000 340,000 6,000000 4,500,000 7,600,000

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