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Alla [95]
3 years ago
14

Garcia Co. sells snowboards. Each snowboard requires direct materials of $100, direct labor of $30, and variable overhead of $45

. The company expects fixed overhead costs of $635,000 and fixed selling and administrative costs of $115,000 for the next year. It expects to produce and sell 10,000 snowboards in the next year. What will be the selling price per unit if Garcia uses a markup of 15% of total cost? (Round your answer to 2 decimal places.)
Business
1 answer:
jeka57 [31]3 years ago
6 0

Answer:

Selling Price per unit = $287.5 per unit

Explanation:

Provided quantum of sales = 10,000 units

Cost statement for 10,000 units

Direct material = $100 \times 10,000 = $1,000,000

Direct Labor = $30 \times 10,000 = $300,000

Variable Overhead = $45 \times 10,000 = $450,000

Fixed Overhead Costs = $635,000

Fixed Selling and administrative Cost = $115,000

Total = $2,500,000

Add: Profit mark up 15% = $375,000

Total Selling Value = $2,875,000

Selling Price per unit = $2,875,000/10,000 = $287.5 per unit

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3 years ago
On March 1st, Kalka Company borrowed $5,000 in the form of a three-month note payable with an annual interest rate of 6 percent.
STatiana [176]

Answer:

Option (A) is correct.

Explanation:

Given that,

On March 1st,

Kalka Company borrowed = $5,000 for a three-month note payable

Annual interest rate = 6 percent

Period = one month

Interest expense accrued=5000\times0.06\times\frac{1}{12}

                                                 = 5000 × 0.06 × 0.083

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As Kalka Company borrowed $5000 on March 1st and accrued interest expenses on March 31st is $25.

7 0
3 years ago
Today, you invest a lump sum amount in an equity fund that provides an 8% annual return. You would like to have $11,700 in 6 yea
V125BC [204]

Answer:

$7,372.99

Explanation:

Discounting is the method used to determine the present worth of a future amount which compounding is used to determine the future worth of a present amount. The relationship between both is such that;

Fv = Pv(1 + r)^n

where

Fv = future amount

Pv = present amount

r = interest rate and

n = time

The future amount = $11,700

time = 6 years

rate = 8%

$11,700 = Pv(1 + 0.08)^6

Pv = $11,700(1 + 0.08)^-6

Pv = $7,372.99

You need to deposit $7,372.99 today to reach your $11,700 goal in 6 years.

8 0
3 years ago
A fleet repair facility has the capacity to repair 800 trucks per month. However, due to scheduled maintenance of their equipmen
Svetlanka [38]

Answer:

Efficiency of the repair shop is 66.67%

Explanation:

Efficiency is the ability to avoid the available resources such as workforce, time, money, material etc. The maximum output in the available resources is efficiency.

Total Capacity of repair fleet = 800 trucks

Effective Capacity of repair fleet = 600 trucks

Actual Output = 400 trucks

Trucks Utilization = Actual Output / Total Capacity = (400 / 800) x 100 = 50%

Efficiency = Actual output / Effective Capacity = (400 / 600) x 100 = 66.7%

7 0
3 years ago
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