Need the sales price per shirt
Homework: Project 1 Save HW Score: 62.26% , 31.13 of 50F Score: 31.13 of 50 pts 1 of 1 (1 complete) Comp21-1 (similar to) EQuestion Help The Richmond Shirt Company makes two types of T-shirts: basic and custom (Clck the ioon to view the addifional information.) For the Depart Data Table For March 2018, the Richmond Shirt Company compled the folowing data for the Cuting and Sewing Departments Read m(Click the icon to view the Cutting and Sewing data) Department Htem Amount Units va 740 Ending work-in-process Beginning balance 0 shits Cutting 7,148 2,288 S 4,860 n/a S Started in March 1,700 shits Total costs accounted for Direct materials added in March 2,720 Requirement 2. Determine the tolal cost and the average cost per shirt for jobs 367, 368, 369, and 370. If the compa 1870 Conversion costs Begin by determining the total oost of each order (job). In the steps that follow, calculate the average cost per shirt, th the table below, round al total cost amounts to the nearest whole dollar and all per unit (shirt) amounts to the neares Completed and transferred to Sewing 22m 1,700 shirts Ending balance 0 shirts 367 Job (Custom Shirts) 368 369 370 Beginning balance, transferred in, $270 Sewing 800 S Total cost of basic shirts 200 600 S 1,200 400 100 shirts conversion costs, $130 100 100 100 Design costs 2?? Transfered in from Cuting 280 630 Prining costs 105 420 2,158 Conversion costs added in March 1,180 S 305 S 1,120 1,930 Total cost of the order Completed and transferred to Finished Goods 1,600 shirts 6.10 $ 5.90 $ 7.47 6.43 Average cost per shirt Ending balance, 80 % complete 2?7 6.00 Sales price per shirt Print Done Enter any number in the edit felds and then click Check Answer. 16 parts remaining Check Answer Clear All HW Score: 62.26 % , 31.13 of 50 pts 1 of 1 (1 complete Score: 31.13 of 50 pts EQuestion Help- Comp21-1 (similar to) For the same tme pesod, the Richmond Shirt Company compiled the folowing data for the Custom Design Department (Cick the loon to view the Custom Design data) The Rchmond Shit Company makes two types of T-shirts: basic and oustom (Click the icen to view the additional information) For March 2018, the Richmond Shirt Company compled the folowing data for the Cutting and Sewing Depatments: (Cick the lcon to view the Cutting and Sewing data.) Read the reauirement Data Table Ending work-in-process r40 4.800 na 2.288 S 7.148 Total costs accounted for Status Quantity Design Fee Printing Job Requiremant 2. Determine the total cost and the average cost per shit for jpbe 367, 368, 369, and 370. If the company set the sales 367 200 Yes 2 colors Complete Begin by determining the tolal cost of esch order (ob). in the stops that foliow, calculale the average coet per shirt, the sales price p the table below round al total cost amounts to the neast whole doilar and all per unt (shit) amounts to the nearost cent C 368 Complete 50 No 3 colors leta Complete Yes 4 colors 369 150 Job (Custom Shirts) 367 368 Tetal 370 370 300 Yes 3 colors Complete 800 S 200 S Total cost of basic shits 1,200 The Richmond Shit Company has previously determined that creating and programmng Pe design cost $100 per design This is a ane-ime charpe if customer places ancther ander with the same design, the oustomer is not charged a second time. Additionaltly, the cost to print is $0.70 per color per Design costs 100 100 100 280 Printing costs 105 420 630 Total cost of the orden s 1,180 305 $ 1,120 1,030 4.535 shirt 6.10 S Auerage cost per shirt 5.90 S 747 6.43 Print Done Sales prce per snn Enter any rumbw in the edt felds and then cick Check Answe parts emaining Clear All Check Answer Save f1 (1 complete) HW Score: 62.26%, 31.13 of 50 pts X Requirements For the same Department (Click the 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. wing Read the requ 40 3. In addition to the custom jobs, the Richmond Shirt Company sold 1,600 basic shirts (assume the beginning balan 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. 288 $ 7,148 ished Goods Inventory is and 370. If the company set rage cost per shirt, the sales mounts to the nearest cent. 4. Calculate the total revenue, total cost of goods sold, and total gross profit for all sales, basic and custom. Tota 370 S 1,200 Assume the company sold only basic shirts (no custom designs) and incurred fixed costs of $400 per month. 100 Calculate the contribution margin per unit, contribution margin ratio, a. required sales in units to break even, and required sales in dollars to 630 break even. 1,930 $ b. Determine the margin of safety in units and dollars. Graph Richmond Shirt Company's CVP relationships. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line. the oneratina loss area. and the oDeratina income area. S 6.43 c. Print Done Check Answer Clear All F12 FI F10 F8 F6 & delete 0 8 7 +II Homework: Project 1 Save HW Score: 62.26% , 31.13 of 50F Score: 31.13 of 50 pts 1 of 1 (1 complete) Comp21-1 (similar to) EQuestion Help The Richmond Shirt Company makes two types of T-shirts: basic and custom (Clck the ioon to view the addifional information.) For the Depart Data Table For March 2018, the Richmond Shirt Company compled the folowing data for the Cuting and Sewing Departments Read m(Click the icon to view the Cutting and Sewing data) Department Htem Amount Units va 740 Ending work-in-process Beginning balance 0 shits Cutting 7,148 2,288 S 4,860 n/a S Started in March 1,700 shits Total costs accounted for Direct materials added in March 2,720 Requirement 2. Determine the tolal cost and the average cost per shirt for jobs 367, 368, 369, and 370. If the compa 1870 Conversion costs Begin by determining the total oost of each order (job). In the steps that follow, calculate the average cost per shirt, th the table below, round al total cost amounts to the nearest whole dollar and all per unit (shirt) amounts to the neares Completed and transferred to Sewing 22m 1,700 shirts Ending balance 0 shirts 367 Job (Custom Shirts) 368 369 370 Beginning balance, transferred in, $270 Sewing 800 S Total cost of basic shirts 200 600 S 1,200 400 100 shirts conversion costs, $130 100 100 100 Design costs 2?? Transfered in from Cuting 280 630 Prining costs 105 420 2,158 Conversion costs added in March 1,180 S 305 S 1,120 1,930 Total cost of the order Completed and transferred to Finished Goods 1,600 shirts 6.10 $ 5.90 $ 7.47 6.43 Average cost per shirt Ending balance, 80 % complete 2?7 6.00 Sales price per shirt Print Done Enter any number in the edit felds and then click Check Answer. 16 parts remaining Check Answer Clear All HW Score: 62.26 % , 31.13 of 50 pts 1 of 1 (1 complete Score: 31.13 of 50 pts EQuestion Help- Comp21-1 (similar to) For the same tme pesod, the Richmond Shirt Company compiled the folowing data for the Custom Design Department (Cick the loon to view the Custom Design data) The Rchmond Shit Company makes two types of T-shirts: basic and oustom (Click the icen to view the additional information) For March 2018, the Richmond Shirt Company compled the folowing data for the Cutting and Sewing Depatments: (Cick the lcon to view the Cutting and Sewing data.) Read the reauirement Data Table Ending work-in-process r40 4.800 na 2.288 S 7.148 Total costs accounted for Status Quantity Design Fee Printing Job Requiremant 2. Determine the total cost and the average cost per shit for jpbe 367, 368, 369, and 370. If the company set the sales 367 200 Yes 2 colors Complete Begin by determining the tolal cost of esch order (ob). in the stops that foliow, calculale the average coet per shirt, the sales price p the table below round al total cost amounts to the neast whole doilar and all per unt (shit) amounts to the nearost cent C 368 Complete 50 No 3 colors leta Complete Yes 4 colors 369 150 Job (Custom Shirts) 367 368 Tetal 370 370 300 Yes 3 colors Complete 800 S 200 S Total cost of basic shits 1,200 The Richmond Shit Company has previously determined that creating and programmng Pe design cost $100 per design This is a ane-ime charpe if customer places ancther ander with the same design, the oustomer is not charged a second time. Additionaltly, the cost to print is $0.70 per color per Design costs 100 100 100 280 Printing costs 105 420 630 Total cost of the orden s 1,180 305 $ 1,120 1,030 4.535 shirt 6.10 S Auerage cost per shirt 5.90 S 747 6.43 Print Done Sales prce per snn Enter any rumbw in the edt felds and then cick Check Answe parts emaining Clear All Check Answer Save f1 (1 complete) HW Score: 62.26%, 31.13 of 50 pts X Requirements For the same Department (Click the 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. wing Read the requ 40 3. In addition to the custom jobs, the Richmond Shirt Company sold 1,600 basic shirts (assume the beginning balan 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. 288 $ 7,148 ished Goods Inventory is and 370. If the company set rage cost per shirt, the sales mounts to the nearest cent. 4. Calculate the total revenue, total cost of goods sold, and total gross profit for all sales, basic and custom. Tota 370 S 1,200 Assume the company sold only basic shirts (no custom designs) and incurred fixed costs of $400 per month. 100 Calculate the contribution margin per unit, contribution margin ratio, a. required sales in units to break even, and required sales in dollars to 630 break even. 1,930 $ b. Determine the margin of safety in units and dollars. Graph Richmond Shirt Company's CVP relationships. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line. the oneratina loss area. and the oDeratina income area. S 6.43 c. Print Done Check Answer Clear All F12 FI F10 F8 F6 & delete 0 8 7 +II
