BA 510 MT | WriteDemy

Question 1

Â Define the following terms:

1.Direct Materials.

2.Indirect Materials.

3.Direct Labor.

4.Indirect Labor.

5.Manufacturing Overhead.

Question 2

Â What is meant by contribution martin ratio? How is this ratio useful in planning business operations?

Question 3

Â Classifying Manufacturing Costs (LO â 2-1)

Your Boat, Inc. assembles custom sailboats from components supplied by various manufacturers.Â The company is very small and its assembly shop and retail sales store are housed in a Gig Harbor, Washington, boathouse.Â Below are listed some of the costs that are incurred at the company.

Required:

For each cost, indicate whether it would most likely be classified as direct labor, direct materials, manufacturing overhead, selling, or an administrative cost.

1.The wages of employees who build the sailboats..

2.The cost of advertising in the local newspapers..

3.The cost of an aluminum mast installed in a sailboat..

4.The wages of the assembly shopâs supervisor.

5.Rent on the boathouse.

6.The wages of the companyâs bookkeeper..

7.Sales commissions paid to the companyâs salespeople..

8.Depreciation on power towels..

Question 4 Â

Fixed and variable cost behavior (LO â 2-3)

Koffee Express operates a number of espresso coffee stands in busy suburban malls.Â The fixed weekly expense of a coffee stand is $1,100 and the variable cost per cup of coffee served is $.26.

Required:

1. Fill in the following table with your estimates of total costs and average costs per cup of coffee at the indicated levels of activity for a coffee stand.Â Round off the cost of a cup of coffee to the nearest tenth of a cent.

Does the average cost per cup served increase, decrease, or remain the same as the number of cups of coffee served in a week increases? Explain.

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Cups of Coffee Served in a Week

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,800Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,900Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2,000Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

Â Fixed CostÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?

Â Variable costsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ? Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?

Â Total costÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ?

Â Average cost per cup of coffee served

Â 2. Does the average cost per cup served increase, decrease, or remain the same as the number of cups of coffee served in a week increases? Explain.

Question 5

Â Preparing a Contribution Format Income Statement. (LO â 3-1) Wheeler Corporationâs most recent income statement follows.

Â Â Â Â Â Â Â Â Per UnitÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â TotalÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

Â Sales (8,000 units)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $208,000Â Â Â Â Â Â Â Â Â Â $26.00

Â Variable expensesÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 244.000Â Â Â Â Â Â Â Â Â Â Â Â 18.00

Â Contribution marginÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â ÂEcosystem,Environmental science,,

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