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howe Data table par Song Dow Cal ning Det Amy Done Lik SPONS AL Studen -X Comer CHE witt C Data table Camily Day They Data Table www Done Boy we Colten Daigi da Gre func Dore DEL Requirements D 0 Der of Check STEM St 1/N-2 Requirements 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 140% of the total cost, determine the total sales price of each job. 3. In addition to the custom jobs, the Raleigh Shirt Company sold 1,850 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 $500 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 Raleigh 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 Raleigh Shirt Company wants to earn an operating income of $1,000 per month. Compute the required sales in units and dollars to achieve this profit goal. 6. The Raleigh 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? - X - Cutting Department Beginning balance Started in March Direct materials added in March Conversion costs Completed and transferred to Sewing Ending balance Data table Print 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, 70% complete Amount Units $ Done $ ??? Amount 400 ??? 2,470 2,850 2,226 ??? ??? 0 0 0 shirts 1,900 shirts 1,900 shirts 0 shirts Units 100 shirts ??? 1,850 shirts ??? = X Ending work-in-process Total costs accounted for Now complete a production report for the Sewing Department. (Complete all input fields. Enter a "0" for any Raleigh Shirt Company Production Cost Report-Sewing Department Month Ended March 31, 2024 UNITS Units to account for Beginning work-in-propess Transferred in Total units to account for Units accounted for Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for Beginning work-in-process Costs added during the period Total costs to account for i Divided by Total EUP Cost per equivalent unit Whole Units 100 1.900 2.000 THE 1,850 150 2,000 n/a Transferred In 1,850 150 2.000 Transferred In 280 2,470 $ Equivalent Units Direct Materials n/a na na na n/a na na 2,850 $ na Conversion Costs Direct Conversion Materials Costs 1,850 105 1,955 120 2220 5,320 Total Costs Data table 400 Job 367 368 369 370 Quantity 300 350 200 100 Design Fee - Yos No Yes Yes Printing 3 colors 4 colors 5 colors 2 colors Print The Raleigh 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. Status Complete Complete Complete Complete Done
