onlocatorinprogress-babe Pri tem eBook Calculator Comprehensive Problems Part A: Note: You must complete part A before completing parts B and C. Genuine Spice Inc. began operations on January 1 of the current year. The company produces sight ounce bottles of hand and body lotion called temal Beauty. The lotion is sold wholesale in 12 bottle cases for $100 per case. There is a selling commission of $20 per case. The awary direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS Cost Units Cost Behavior per Case Direct Materials Cost per Case per Unit Cream base Variable 100 os. $0.02 $2.00 Natural oils Variable 30 ors. 0.30 9.00 Bottle (8-oz.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Cost Time Department Labor Rate per Hour Direct Labor Cost per Case Behavior per Case Mixing Variable 20 min $18.00 $6.00 Filling Variable 5 14.40 1.20 25 min $7.20 Previous Nex Check My Work 1 more Check My Work uses remaining All work saved Save and Ex Submit Assignment for 3. 3 a Oo AH 7/1 2 O TA eBook Calculator Print tem FACTORY OVERHEAD Cost Behavior Total Cost Utilities Mixed $600 Fixed Facility lease Equipment depreciation 14,000 Fixed 4,300 Supplies Fixed 660 $19,560 Part A-Break Even Analysis The management of Genuine Spice Inc. wants to determine the number of cases required to break even per month. The utilities cost, which is part of factory overhead, is a more cost. The following information was gathered from the first six months of operation regarding this cost: Case Production Utility Total Cost 500 $600 January February 800 660 March 1,200 740 April 1,100 720 May 950 690 June 1,025 705 Required: Previous Next Check My Work 1 more Check My Work uses remaining Submit Assignment for Grading All work saved 32 PM 7/30/2020 3 a Oo e II O E June 1,025 705 Required: 1. Determine the fixed and variable portion of the utility cost using the high-low method. Round the per unit cost to the nearest cent. At High Point At Low Point Variable cost per unit Total fixed cost Total cost 2. Determine the contribution margin per case. Enter your answer to the nearest cent. Contribution margin per case $ 3. Determine the fixed costs per month, including the utility fixed cost from part (1). Utilities cost (from part 1) Facility lease Equipment depreciation Supplies Total fixed costs 4. Determine the break-even number of cases per month cases Previous Check My Work 1 more Check My Work uses remaining All work saved a Oo Part B August Budgets During July of the current year, the management of Genuine Spice Inc. asked the controller to prepare August manufacturing and come statement budgets. Demand was expected to be 1,500 cases at $100 per case for August. Inventory planning information is provided as follows: Finished Goods Inventory: Case Cost Estimated finished goods inventory, August 1 Desired finished goods inventory, August 31 300 $12,000 175 7,000 Materials Inventory: Oils Cream Base (ors.) Bottles (bottles) (ozs.) 250 290 600 Estimated materials inventory, August 1 Desired materials inventory, August 31 1,000 360 240 There was negligible work in process inventory assumed for either the beginning or end of the month; thus, none was assumed. In addition, there was no change in the cost per un or estimated units per case operating data from January Required: 5. Prepare the August production budget. Enter all amounts as positive numbers. Previous Next Check My Work 1 more Check My Work uses remaining Save and Submit Assignment for Grading All work saved V 20020 a IL RassignmentMain.do?invoker=&takeAssignmentSessionlocator dinprogress-false eBook Calculator Pa Print Item Required: 5. Prepare the August production budget. Enter all amounts as positive numbers. Genuine Spice Inc. Production Budget For the Month Ended August 31 Cases Expected cases to be sold Plus desired ending inventory Total cases required Less estimated beginning inventory Total cases to be produced 6. Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent. Enter all amounts as positive numbers. Genuine Spice Inc. Direct Materials Purchases Budget For the Month Ended August 31 Direct Materials Previous Check My Work 1 more Check My Work uses remaining Subent Assigment for All work saved. a 00 D Odwokertake/ssignmentSessiontecatorinprogresse eBock Calculator ho Note: This section is a continuation from Part of the comprehensive problem. Be sure you have completed Put A before weight presented in Part A and use awers from Part A when completing this section Genuine Spice Inc. began operations on January 1 of the current year. The company produces hun beso hand and beyond the wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 perc. The deeded for DIRECT MATERIALS Cost Behavior Units per Case per Unit Direct Materials Cost per Case $2.00 Cream base Variable 100 OS $0.02 Natural oils Variable 30 oz. 0.30 9.00 Bottle (8-ox.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Labor Rate Cost Behavior Department Time per Case Direct Labor Cost per Case her How 20 min $18.00 $6.00 Mixing Variable Variable 5 14.40 Filling $7.20 25 min FACTORY OVERHEAD Check My Work 1 more Check My Work uses remaining All work saved a E O BI Plus desired ending inventory Total cases required Less estimated beginning inventory Total cases to be produced 6. Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent. Enter all amounts as positive ubers. Genuine Spice Inc. Direct Materials Purchases Budget For the Month Ended August 31 Direct Materials Natural Oils (ozs.) Cream Base (ozs.) Total Bottles (bottles) Units required for production Plus desired ending inventory Less estimated beginning inventory Direct materials to be purchased Unit price Total direct materials to be purchased Check My Work 1 more Check My Work uses remaining All work saved 8 : a O onlocatorinprogress-babe Pri tem eBook Calculator Comprehensive Problems Part A: Note: You must complete part A before completing parts B and C. Genuine Spice Inc. began operations on January 1 of the current year. The company produces sight ounce bottles of hand and body lotion called temal Beauty. The lotion is sold wholesale in 12 bottle cases for $100 per case. There is a selling commission of $20 per case. The awary direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS Cost Units Cost Behavior per Case Direct Materials Cost per Case per Unit Cream base Variable 100 os. $0.02 $2.00 Natural oils Variable 30 ors. 0.30 9.00 Bottle (8-oz.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Cost Time Department Labor Rate per Hour Direct Labor Cost per Case Behavior per Case Mixing Variable 20 min $18.00 $6.00 Filling Variable 5 14.40 1.20 25 min $7.20 Previous Nex Check My Work 1 more Check My Work uses remaining All work saved Save and Ex Submit Assignment for 3. 3 a Oo AH 7/1 2 O TA eBook Calculator Print tem FACTORY OVERHEAD Cost Behavior Total Cost Utilities Mixed $600 Fixed Facility lease Equipment depreciation 14,000 Fixed 4,300 Supplies Fixed 660 $19,560 Part A-Break Even Analysis The management of Genuine Spice Inc. wants to determine the number of cases required to break even per month. The utilities cost, which is part of factory overhead, is a more cost. The following information was gathered from the first six months of operation regarding this cost: Case Production Utility Total Cost 500 $600 January February 800 660 March 1,200 740 April 1,100 720 May 950 690 June 1,025 705 Required: Previous Next Check My Work 1 more Check My Work uses remaining Submit Assignment for Grading All work saved 32 PM 7/30/2020 3 a Oo e II O E June 1,025 705 Required: 1. Determine the fixed and variable portion of the utility cost using the high-low method. Round the per unit cost to the nearest cent. At High Point At Low Point Variable cost per unit Total fixed cost Total cost 2. Determine the contribution margin per case. Enter your answer to the nearest cent. Contribution margin per case $ 3. Determine the fixed costs per month, including the utility fixed cost from part (1). Utilities cost (from part 1) Facility lease Equipment depreciation Supplies Total fixed costs 4. Determine the break-even number of cases per month cases Previous Check My Work 1 more Check My Work uses remaining All work saved a Oo Part B August Budgets During July of the current year, the management of Genuine Spice Inc. asked the controller to prepare August manufacturing and come statement budgets. Demand was expected to be 1,500 cases at $100 per case for August. Inventory planning information is provided as follows: Finished Goods Inventory: Case Cost Estimated finished goods inventory, August 1 Desired finished goods inventory, August 31 300 $12,000 175 7,000 Materials Inventory: Oils Cream Base (ors.) Bottles (bottles) (ozs.) 250 290 600 Estimated materials inventory, August 1 Desired materials inventory, August 31 1,000 360 240 There was negligible work in process inventory assumed for either the beginning or end of the month; thus, none was assumed. In addition, there was no change in the cost per un or estimated units per case operating data from January Required: 5. Prepare the August production budget. Enter all amounts as positive numbers. Previous Next Check My Work 1 more Check My Work uses remaining Save and Submit Assignment for Grading All work saved V 20020 a IL RassignmentMain.do?invoker=&takeAssignmentSessionlocator dinprogress-false eBook Calculator Pa Print Item Required: 5. Prepare the August production budget. Enter all amounts as positive numbers. Genuine Spice Inc. Production Budget For the Month Ended August 31 Cases Expected cases to be sold Plus desired ending inventory Total cases required Less estimated beginning inventory Total cases to be produced 6. Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent. Enter all amounts as positive numbers. Genuine Spice Inc. Direct Materials Purchases Budget For the Month Ended August 31 Direct Materials Previous Check My Work 1 more Check My Work uses remaining Subent Assigment for All work saved. a 00 D Odwokertake/ssignmentSessiontecatorinprogresse eBock Calculator ho Note: This section is a continuation from Part of the comprehensive problem. Be sure you have completed Put A before weight presented in Part A and use awers from Part A when completing this section Genuine Spice Inc. began operations on January 1 of the current year. The company produces hun beso hand and beyond the wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 perc. The deeded for DIRECT MATERIALS Cost Behavior Units per Case per Unit Direct Materials Cost per Case $2.00 Cream base Variable 100 OS $0.02 Natural oils Variable 30 oz. 0.30 9.00 Bottle (8-ox.) Variable 12 bottles 0.50 6.00 $17.00 DIRECT LABOR Labor Rate Cost Behavior Department Time per Case Direct Labor Cost per Case her How 20 min $18.00 $6.00 Mixing Variable Variable 5 14.40 Filling $7.20 25 min FACTORY OVERHEAD Check My Work 1 more Check My Work uses remaining All work saved a E O BI Plus desired ending inventory Total cases required Less estimated beginning inventory Total cases to be produced 6. Prepare the August direct materials purchases budget. Enter the unit price to the nearest cent. Enter all amounts as positive ubers. Genuine Spice Inc. Direct Materials Purchases Budget For the Month Ended August 31 Direct Materials Natural Oils (ozs.) Cream Base (ozs.) Total Bottles (bottles) Units required for production Plus desired ending inventory Less estimated beginning inventory Direct materials to be purchased Unit price Total direct materials to be purchased Check My Work 1 more Check My Work uses remaining All work saved 8 : a O
