Reference no: EM131115555
1) CVP / Breakeven: Santa has decided to sell autographed pictures of his self this summer so he can have a little spare cash to spend on Mrs. Claus and maybe some of the good other little elfies. It is going to cost him $48,000 to buy framing equipment, plus he has to pay a onetime "licensing" fee of $10,000 to Frosty Da Snowman for protection. Each frame will cost $2 for the glass, $6 for the framing material, $1 for the backing, and $3 for the other materials. On the off-season Santa pays the elfs $25 per hour. They make 5 frames an hour. Santa figures he'll sell the autographed pictures for a whopping $37 each.
Mrs. Claus thinks he has been eating too many cookies and should forget the whole deal. But good ol' Santa says "Hey honeycakes, don't worry about it all I have to do is sell _________of these pictures and we make back all the investment. Then he says in fact, if we sell _________ pictures we will have made $24,000.
Required: What are the numbers for the "blanks" above?
2) High / Low Cost Estimating: Bing-Bang-Boozle Inc. makes plastic beer cups for tailgating, nice fan decals and all that. They had the following overhead costs:
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Machine Hours
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Overhead Cost
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January
|
100
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5400
|
|
February
|
160
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7200
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|
March
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250
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9900
|
|
April
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110
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5700
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|
May
|
180
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7800
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June
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150
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6900
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July
|
120
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6000
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1. Using the High-Low method calculate the variable cost per unit and fixed costs.
2. If the activity in August was 200 machine hours, what would the high-low method predict the overhead cost would be?
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