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Elan Coil [88]
3 years ago
13

Silver​ Crafts, Inc. purchases and sells bracelets. The following information summarizes the​ company's operating activities for

the​ year: Selling and Administrative Expenses ​$5,300 Purchases ​157,000 Sales Revenue ​785,000 Merchandise​ Inventory, January 1 ​2,350 Merchandise​ Inventory, December 31 ​38,350 If the company sold​ 7,900 units of bracelets during the​ year, how much is the cost for one​ bracelet? (Round your answer to the nearest​ cent.)
Business
1 answer:
lutik1710 [3]3 years ago
4 0

Answer:

$15.32

Explanation:

The cost of <em>one bracelet</em> is the cost of goods sold (COGS) divided by the number of bracelets.

The formula for (cogs) is

beginning inventory (January 1)........................................2,350

(+) inventory cost during the year (purchases)...........157,000

(-) Ending inventory (December 31).................................38,350

______________________________________________

COST OF GOODS SOLD (COGS).........................121,000

<em>Number of bracelets...........................................................7,900 units</em>

<em>One bracelet </em>costs 121,000 divided by 7,900. That equals to $15.32

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Answer:(1) Baked Goods profit $6,700, Milk and Fruit juice profit $200, Frozen Products profit $8,900 (2) Baked Goods profit $160, Milk and Fruit juice profit $2,870, Frozen Products Profit $12,860. (3) it provide insight to FS managers that Frozen Products is the most profitable among the three product lines.

Explanation:

(1) Baked Goods. Milk and Fruit juice. Frozen Products

$ $ $

Revenue. 60,000. 66,500. 50,500

Less : Cost of good sold 41,000. 51,000. 32,000

------------- -------------- ---------------

Gross Margin. 19,000. 15,500. 18,500

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----------- ------------ -------------

Profit. 6,700. 200. 8,900

------------- --------------- ----------------'

(2)

Baked Goods. Milk and Fruit juice. Frozen Products

$ $ $

Revenue. 60,000. 66,500. 50,500

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------------- ---------------- -----------

Contribution. 19,000. 15,500. 18,500

Less Overhead

Ordering cost. 4,180. 2,280. 1,,330

Delivery&Receipt. 9,120. 4,560. 2,736

Shelf Stocking. 3,230. 2,850. 380

Customer Support & Assistant 2,310. 3,030. 1,194

------------ -------------- ------------

Profit. 160. 2,870. 12,860

------------------ ----------------- ---------------

(3) The new insight to FS managers is that Frozen Products is the most profitable among the three products lines

Workings

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Shelf Stocking ($19 × 170) = 3,230 ($19 × 150) = 2,850 ( $19 × 20) = 380

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Suppose a firm has evaluated four capital budgeting projects and, using one of the time value of money-capital budgeting techniq
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Answer:

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