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please help with the following A-O. the numbers on the binder paper are the values i have set. om 10 t d UUSINESS IN March
please help with the following A-O.
om 10 t d UUSINESS IN March 2020 manat for recreational use. In preparation for an interview with the bank to a needs, you develop answers to the following questions. A number of assun (and some are provided for you below); clearly note all assumption the bank to discuss your tu ber of assumptions are required all assumptions that you make. Instructions (a) Identify the types of costs that would likely be involved in making this populating a spreadsheet with the five columns indicated below. n making this product by Period Item Direct Materials Product Costs Direct Manufacturing Labor Overhead Costs manufacturing overhead costs and 7 period costs. You should show one line item for both direct materials and direct labor but please provide some detail of the costs in parentheses. Assign hypothetical monthly dollar figures to each costs von identified. The film each column must be $480.000 for Direct Materials, $220,000 for direct labor, for Manufacturing Overhead, and $300,000 for period costs. (b) Assume you have no raw materials or work in process beginning or ending inventories, Prepare a proiected cost of goods manufactured schedule for the first month of operations. Refer to textbooh. (c) You must produce 40,000 robots the first month of operations (March 2020). Compute the cost to produce one robot. (d) What type of cost accounting system will you likely usejob order or process costing? Explain your answer! Write porograph (e) Explain how you would assign costs in either the job order or process costing system you plan to use. - Poragraph on how to assign cost (1) Classify your costs as either variable or fixed costs. For simplicity, assign all costs to either variable or fixed, assuming there are no mixed costs, using the format shown. Item Variable Costs Fixed Costs Total Costs (g) Compute the unit variable cost (rounded to two decimal places), using the production number in (c). ta unit selling price ollar, and compute both the (h) You will sell 35,000 robots the first month of operations. Set a unit se between $30 and $38 rounded to the nearest whole dollar, and compute contribution margin per unit and the contribution margin ratio. (i) Determine your break-even point in dollars and in units. Prepare projected operating budgets (sales, production, direct materials, dir manufacturing overhead, selling and administrative expense, and income sta You will need to use the below assumptions for each of the following: s, production, direct materials, direct labor, xpense, and income statement). Direct materials 1.2 Kg of direct materials required to produce one robot; budget: $10.00 per kg: desired ending direct materials (assume none). Direct labor 0.5 hours required per robot; rate is $11.00 per hour. budget: Budgeted income Income tax expense is 35% of income from operations. statement: (k) Prepare a cash budget for the month. Assume the percentage of sales that will be collected from customers is 85%, and the percentage of direct materials that will be paid in the current month is 60%. Income taxes are paid in April. (1) The relevant range of activity is from 35,000 to 40,000 robots per month. Recast your manufacturing overhead budget into a flexible monthly budget for each increment of 1,000 robots produced from 35,000 to 40,000 robots. (m) Identify one potential cause of materials, direct labor, and manufacturing overhead variances for your product. - Paragraph 00 numbers (n) Assume that you wish to purchase production equipment that costs $5,000,000. Determine the cash payback period, utilizing the monthly cash flow that you computed in part (k) multiplied by 12 months (for simplicity). (0) Identify at least three nonfinancial factors that should be considered before commencing your business venture. - Paragraph no numbers Manufacturing Overhead Accounting Final Project o r Product Costs Item we om OL Manufacturing Supplies Expo Sales commissions Delivery Expense Depreciation on office equipment Advertising Epouse J Administrative Salories Utilities Erp v Lasurance Erp. on hillding ulares on building v Indirect Laber nu Dieet Materials ( 9480,000 Wogies of Pobat assembler 2 20,000 Rent on production Equipest Total: 480,000 220.000 Period Costs 50,000 15,000 15,000 5,000 115,000 100,000 5,000 2,000 1500 20,000 11500 40.000 300,000 of Cost of Goods Manufactured D Statement Work in process inventory March 4 2020 Direct Materials the numbers on the binder paper are the values i have set.
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