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This is a huge cost accounting project. I am not understanding at all if someone could help me check my answers and finish. Background Information
This is a huge cost accounting project. I am not understanding at all if someone could help me check my answers and finish.
Background Information Betty's Design is a subchapter S corporation that manufactures children's lampsightlights for use in bedrooms. These lamps are sold nationwide through a group of independent sales representatives who have an exclusive sales region. The business is in its tenth year and has asked you to assist in planning for next year's operations all in delightful colors. The owner of the business, Betty, creates a drawing for the figurine and faxes it to a plant in China where a mold is created and a sample produced and hand painted. If the mold meets the expectations of Betty an order of 500 pieces is placed. There are presently 10 different figurines that come in six different colors; 60 models The lamp shades and the electrical parts are supplied from domestic manufacturers. There are presently 10 workers in the plant. They are responsible for receiving the raw material, manufacturing the product, packing and shipping. In addition to Betty there are two office workers who are responsible for all administrative duties. Betty had her accountant prepare the Projected Income Statement and Balance Sheet presented on page two. Betty heard about your skills in managerial accounting and would like your assistance in the following areas: Part1 Fixed and Variable Cost Determinations-Unit Cost Calculations Part 2 Cost Volume Relationships Profit Planning Part 3 Job Order Costing Part 4 Process Costing Part 5 Budgets Part 6 Process Costing-Weighted Average Part 7 Standard Costing Variance Analysis Page 2 of 16 Background Information Betty's Design is a subchapter S corporation that manufactures children's lampsightlights for use in bedrooms. These lamps are sold nationwide through a group of independent sales representatives who have an exclusive sales region. The business is in its tenth year and has asked you to assist in planning for next year's operations all in delightful colors. The owner of the business, Betty, creates a drawing for the figurine and faxes it to a plant in China where a mold is created and a sample produced and hand painted. If the mold meets the expectations of Betty an order of 500 pieces is placed. There are presently 10 different figurines that come in six different colors; 60 models The lamp shades and the electrical parts are supplied from domestic manufacturers. There are presently 10 workers in the plant. They are responsible for receiving the raw material, manufacturing the product, packing and shipping. In addition to Betty there are two office workers who are responsible for all administrative duties. Betty had her accountant prepare the Projected Income Statement and Balance Sheet presented on page two. Betty heard about your skills in managerial accounting and would like your assistance in the following areas: Part1 Fixed and Variable Cost Determinations-Unit Cost Calculations Part 2 Cost Volume Relationships Profit Planning Part 3 Job Order Costing Part 4 Process Costing Part 5 Budgets Part 6 Process Costing-Weighted Average Part 7 Standard Costing Variance Analysis Page 2 of 16Step by Step Solution
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