I need help with this accounting assignment. Serious inquiries only, guarantee an A, must know there stuff! Using Accounting Principles 10th edition.
CHAPTER 22 ASSIGNMENT
Instructions: Complete the problems below. This assignment can be completed in either: Microsoft Excel, Word, or hand-written and scanned in PDF format. I prefer Microsoft Excel or Word but will not dock points for PDF format.
SHOW YOUR WORK AND GET PARTIAL CREDIT FOR WRONG ANSWERS!
PART A. For 1-8, use the information below for two levels of production. Classify each cost as variable, fixed, or mixed.
5,000 Units 10,000 Units
1. Direct Materials $ 50,000 $ 100,000
2. Direct Labor 10,000 20,000
3. Indirect Labor 8,000 10,000
4. Indirect Materials 500 1,000
5. Utilities 2,000 3,000
6. Rent 8,000 8,000
7. Depreciation 10,000 10,000
8. Factory Overhead 12,000 16,000
PART B. For 9-12, use the data below for the fourth quarter to answer the questions.
Units Produced Total Cost
October 6,300 $ 24,300
November 8,300 28,800
December 7,500 27,000
9. Compute the variable cost element using the high-low method.
10. Compute the fixed cost element using the high-low method.
11. Estimate the total cost if the company produces 10,000 units.
12. How many units would the company have produced if the total cost was $37,125?
PART C. For 13, use the information below to complete.
Our company sells each unit produced for $500. The variable costs per unit is $200 and fixed costs total $120,000.
13. Compute the break-even point in units using a mathematical equation.
14. Calculate the break-even point in dollars.
PART D. For 14-20, use the information below to complete.
Our company makes picture frames that sell for $25 each. Next year, fixed costs are expected to total $275,000 and variable costs are expected to be $10 per unit.
15. Compute the break-even point in units using a mathematical equation.
16. Calculate the contribution margin per unit.
17. Calculate the contribution margin ratio.
18. Compute the break-even point in dollars using the contribution margin ratio.
19. Compute the margin of safety percentage assuming actual sales are $600,000.
20. Compute the sales required in dollars to earn net income of $200,000 using the mathematical equation.