May someone please be kind & help me! I am totally lost. Please show work. Thank you
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. 1. Determine whether the costs in the table are variable, fixed, mixed, of none of these. 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 "o", Recali that, for N = Number of Units Produced, Total Costs - (Variable Cost Per Unit xN)+ Fixed Cost, Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Biblio Filos Company is the chief competitor of Cover-to-Cover Company in the booksheif business. Bablio Files is antilyzing itc manufacturing costs. and has compiled the following data for the first six months of the year. After reviewing the data, answer quentions (1) through (3) that follow. 1. From the data previousiy provided, help Biblio Files Company estimate the floced and variable portions of lits total coats using the high low methadi Pecail that Total Costs = (Variable Cost Per Unlt Number of Units Produced) + Fixed Cost. Complete the following table. 2. With your Total Fixed Cost and Variable Cost per Unit from the high-low method, compute the total cost for the following values of N (Rumber of Units Produced). 3. Why does the total cost computed for 4,360 units not match the data for January? a. The high-low method is accurate only for months in which production is at full capacity. b. The high.low method only gives accurate data when fluced costs are zero. c. The high-low method glves a formula for the estimated total cost and may not match levels of production other than the highest and loweit. d. The high-low method glves accurate data only for levels of production outside the relevant ranige. Contribution Margin Review the contribution margin income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income 5 stataments. Complete the following table from the data provided on the income statements. Each company sold 80,800 units during the year: Income Statement - Cover-to-Cover Income Statement - Biblio Files Blblio Files Company Contribution Margin Income Statement For the Year Ended December 31, 20Y8 Sales Variable costs: Fixed cosits: Biblio Files Company is making plans for its next fiscal year, and decides to sell two new types of bookshelves, Basic and Defuxe, The company has complied the following estimates for the new product offerings. 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 ane Deluxe products as components of one overall enterprise product called "Combined, " the unit contribution margin for the Combined product would be $2.31. Fixed costs for the upcoming year are estimated at $323,400. Fecall that the totats of all the sales mix percents must be 100%. Determine the amounts to complete the following table. Refer again to the income statements for Cover-to-Cover Company and Biblio Fles Company on thieir respective income Staternent. Note that both companies have the same soles and net income. Answer questions (1) - (3) that follow, assuming that all data for the corning year is the same as thie current year, except for the amount of sales. 1. If Cover-to-Cover Company wants to increase its profit by $20,000 in the cominio year, what must their amount of salen be? 2. If Bibllo Files Company wants to increase its profit by $20,000 in the coming year, What muat their amount of ales be? 3. What woudd explain the difference between your answers for (1) and (2) ? a. Bibllo. Files Company has a higher contribution margin rato, and so more of each sales dollar is avallable to cover fixnd casts and arouide operatieg income. b. Cover-to-Cover Company's contribution margin ratio is lowec meating that it's more efflcient in its operations. c. The companies have goals that are not in the relevant rahpe, d. The answers are not different; each company has the same required sales amount for the coming vear to achlove the desired tarcot profit
