It looks long but I broke it up into parts
Total Total Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior, After reviewing the data, complete requirements (1) and (2) that follow. Total Machine Units Lumber Utilities Depreciation Produced Cost Cost Cost 10,000 shelves $100,000 $13,000 $145,000 20,000 shelves 200,000 24,500 145.000 40,000 shelves 400,000 47,500 145.000 50,000 shelves 500,000 59,000 145,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of the Lumber Variable Cost Utilities Mixed Cost Depreciation Fixed cost 2. for each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter"0Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Urut x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places Fixed Portion Variable Portion Cost of Cost of Cost (per unit) Lumber Utilities Depreciation High-Low Biblo Files Company is the chief competitor of Cover to cover Company in the bookshell business, Biblio Files is anolyzing its manufacturing costs, and has compiled the following data for the first six months of the year after revwwing the data, answer questions (1) through (3) that fotom Units Produced Total Cost January 4,360 units $65,600 February 300 0,250 March 1,000 15,000 April 6,800 103,750 May 1.750 3,015 48,000 32.500 June High-Low Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow. Units Produced Total Cost January 4,360 units $65,600 February 300 6,250 March 1,000 15,000 April 6,800 103,750 May 1,750 32,500 June 3,015 48,000 1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the high-low method. Recall that Total Costs = (Variable Cost Per Unit x Number of Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit 2. With your Total Foxed Cost and Variable cost per Unit from the high-low method, compute the total cost for the following values of N (Number of Units Produced). Number of Units Produced Total Cost 3,500 4,360 6,800 Contribution Margin Review the contribution margini income statements for Cover-to-Cover Company and Bio Fles Company on their respective Income Statements Complete the following table from the data provided on the recome statements. Each company sold 75,800 units doring the year Cover-to Cover Biblio Files Company Company Contribution maron percent) Unit contribution and Break even sales (units) Break-even sales (Gollars) Income Statement - Cover to Cover Cover-to-Cover Company Contribution Margin Income Statement For the Year Ended December 31, 2018 Sales $379,000 Variable costs: Manufacturing expense $227,400 Selling expense 18.950 Administrative expense 56.850 (303,200) Contribution margin $75,800 Fixed costs: Manufacturing expense $5,000 Fixed costs Manufacturing expense 55,000 Selling expense 4,000 Administrative expense 9,950 (18,950) Operating income $56.850 Income Statement - Biblio Files Biblio Files Company Contribution Margin Income Statement For the Year Ended December 31, 2018 Sales 5379,000 Variable costs Manufacturing expense $191,600 Selling expense 15.100 Administrative expense 60,640 (227.400) Contribution margin 5151,600 Fixed costs: Manufacturing expense $76,750 Selling expense 6,000 Administrative expense 10,000 (94.750) Operating income 556,850 Sales Mix Biblio Files Company is making plans for its next fiscal year, and decides to sell two new types of bookshelves, Basic and Deluxe. The company has compiled the following estimates for the new product offerings. Type of Sales Price Variable Cost Bookshelf per Unit per Unit Basic $5.00 $1.75 Deluxe 9.00 8.10 The company is interested in determining how many of each type of bookshelf would have to be sold in order to break even. If we think of the Basic and Deluxe products as components of one overall enterprise product called "Combined," the unit contribution margin for the Combined product would be 52.31. Fixed costs for the upcoming year are estimated at $344,190. Recall that the totals of all the sales mox percents must be 100%. Determine the amounts to complete the following table. Type of Percent of Break Even Sales Break Even Sales Bookshell Sales Mix in Units in Dollars Basic 96 Deluxe % Target Profit Refer again to the income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statement. Note that both companies have the same sales and net income. Answer questions (1)-(3) that follow, assuming that all data for the coming year is the same as the current year, except for the amount of sales. 1. If Cover-to-Cover Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be? 2. If Biblio Files Company wants to increase its profit by $30,000 in the coming year, what must their amount of sales be
