Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2 4 pts Your company manufactures off-road tricycles for the extreme toddler. This year, 35,000 units of direct material were purchased and used to

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 2 4 pts Your company manufactures off-road tricycles for the extreme toddler. This year, 35,000 units of direct material were purchased and used to produce 12,000 off-road tricycles. The 35,000 units cost your company $105,000. You budgeted two units of direct material to produce one off-road tricycle (your final product). The flexible budget for materials was $60,000. What was your company's total direct materials efficiency (qty) variance? $17,500 unfavorable O $27,500 unfavorable $45,000 unfavorable $33,000 unfavorable 4 pts Question 3 Next year, Bloomin' Foods expects to sell 29,000 sandwiches at $13 per sandwich. Ingredients (Direct Material) cost $3 per sandwich, labor costs $2 per sandwich, and overhead costs are $1.50 per sandwich. The following inventory levels apply are based on the budget for the upcoming year: Beginning Inventory Ingredients (Direct Materials) 24,000 units Work-In-Process O units Finished Goods Inventory 1,000 units Ending Inventory 24,000 units O units 2,800 units What should be the total budgeted costs for ingredients (i.e., direct material) for the upcoming year? $91,800 $90,600 $92.400 $87.000 Question 7 4 pts Your company manufactures and sells hats imprinted with IU images. Last year, your hats sold for $7.50 each. The variable costs for your hats were $2.25 per unit. Overall, you found that to break even your company needed to sell 20,000 hats. Your net income last year was $5,040 (this amount is after taxes of 40%). Your expectations for the coming year are as follows: . The new sales price for hats will be $9 Variable costs will increase by $0.75 . Fixed costs will increase by 10% The 40% income tax rate will not change ats If your goal is to earn $22,500 in net income lie, after taxes) this upcoming year, what do your total sales dollars need to be? O $207.000 O $25.500 $257.625 $229,500 D Question & Question 7 4 pts Your company manufactures and sells hats imprinted with IU images. Last year, your hats sold for $7.50 each. The variable costs for your hats were $2.25 per unit. Overall, you found that to break even your company needed to sell 20,000 hats. Your net income last year was $5,040 (this amount is after taxes of 40%). Your expectations for the coming year are as follows: . The new sales price for hats will be $9 Variable costs will increase by $0.75 . Fixed costs will increase by 10% The 40% income tax rate will not change ats If your goal is to earn $22,500 in net income lie, after taxes) this upcoming year, what do your total sales dollars need to be? O $207.000 O $25.500 $257.625 $229,500 D Question &

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Brinks Modern Internal Auditing A Common Body Of Knowledge

Authors: Robert R. Moeller

7th Edition

0470293039, 978-0470293034

More Books

Students also viewed these Accounting questions

Question

socialist egalitarianism which resulted in wage levelling;

Answered: 1 week ago

Question

soyuznye (all-Union, controlling enterprises directly from Moscow);

Answered: 1 week ago