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Question - Scarcity Enterprise makes three products, AL, BE and OM. The following information was provided in order to do a cost, volume, profit analysis.
AL $
BE $
OM $
Selling price
180
270
240
Less Variable Expenses:
Direct materials
24
72
32
Other variable expenses
102
90
148
Total variable expenses
126
162
Demand (units)
500
Total fixed cost
$721,500
Required -
I. Advise management on the amount of each product to manufacture to break-even. Show all workings.
II. Calculate the amount of each product to manufacture to make a profit of $111,000 before tax. Show all workings.
III. List three assumptions of CVP.
IV. Explain the term margin of safety and state three ways in which it can be expressed.
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Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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