and I A company sells sets of kitchen knives. A Basic Set consists of 2 utility kn knife. A Regular Set consists of 2 utility knives, 1 chef's knife, and 1 slicer. A Deluxe Set consists of 3 utility knives, 1 chef's knife, and 1 slicer. The profit is $40 on a Basic Set, $60 on a Regular Set, and $80 on a Deluxe Set. The factory has on hand 1200 utility knives, 600 chef's knives, and 300 slicers. If all sets will be sold, how many of each type should be made up in order to maximize profit? What is the maximum profit? How many Basic Sets should be made up?
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- Zorro Company buys from wholesalers and resells a single product that costs $10 each unit. All purchases are paid in cash. There is a sales commission paid of 20% on each unit sold. Sales commissions and sales proceeds are also all in cash. Each unit sells for $30. In year 1 the firm purchased 20,000 units and sold 15,000 units. In year 2 it purchased 20,000 units and sold 17,800 units. The firm uses FIFO inventory method for inventory costing. Required 1: Assuming no other transaction happened, the amount of gross Sales Revenue in year 2 is: $ Required 2: Assuming no other transaction happened, the amount of gross margin on sales in year 2 is: $ Required 3: Assuming no other transaction happened, what was the profit on sales for year 2? $Fitness Express sells three different types of elliptical machines. They have manufactured 50 of each machine for a special sale. The store already ha orders for 46 of machine A and 16 of machine B. Use the following information to determine how many of machine C the store needs to sell to break even? Show your work on a separate sheet of paper. Manufacturing Cost $105.00 $140.00 $175.00 Elliptical Machine Machine A Machine B Machine C Total costs of all machines: $ Total revenue: $ Number of machine Cs to sell to break even: Retail Cost $250.00 $305.00 $420.00Yarn Basket, Ltd., sells handminus−knit scarves. Each scarf sells for $35. The company pays $350 to rent a vending space for one day. The variable costs are $10 per scarf. What total revenue amount does the company need to earn to break even?
- A clothing retailer is going to mail out 10,000 catalogues. It costs $2 to mail out each catalogue. When a customer places an order from a catalogue assume a profit of $50 per order is earned. It is assumed that 5% of those who receive a catalogue will place an order however, this number can vary. Use the file below to help you with your tables. Assume that: [total profit = total profit made from the orders – the amount spent on mailing out the catalogues]. a) Use a one-variable data table to determine how the total profit earned from the mailing will vary depending on a response rate between 4% and 10% (with increments of 2%). b) Create a two-variable data table to show how the total profit changes with a varying response rate and number of catalogues mailed. Vary the response rate between 4% and 10% with increments of 2% and vary the number of catalogues mailed from 10,000 to 30,000 at increments of 5000.Megan's Bridal Shoppe is a bridal shop that offers wedding gowns. Each outfit sells for $1,000 on average, with variable expenses of $400 and fixed costs of $90,000. When 200 gowns are sold, what is the Bridal Shoppe's operational income?ABC Kitchen sells dishwashers and garbage disposals to customers. The company buys the dishwashers and garbage disposals from a wholesaler and it costs the company $7,000 for each dishwasher and $4,000 for each garbage disposal. The company sells its dishwashers for $10,000 and garbage disposals for $6,080 each. ABC Kitchen will install the dishwashers and garbage disposals for $1,000 each. On Dec 26, 2021, during Boxing day sales, ABC Kitchen offered a deal to its customers where they could buy a dishwasher, garbage disposal, including full installation package for a total price of $14,000. The Company sold 100 packages. The dishwashers and garbage disposals were shipped and delivered on Jan 18, company completed half the installations on Jan 22, 2022 and the 2022 remaining installations were done on Jan 29, 2022. *Question: Prepare all the required journal entry
- Roe manufactures and sells cloth facial masks. Per unit direct material and direct labor costs are $1 and $2 respectively. Other than these costs, Roe pays $1,000 for rent, $1,500 for the floor manager's salary, and recognizes $300 depreciation on the equipment every month. Roe sells each mask at $10. If Roe sells 500 masks, what would be Roe's total revenue and total costs? Group of answer choices Total revenue: 5,000; Total costs: 1,500 Total revenue: 5,000; Total costs: 4,300 Total revenue: 3,500; Total costs: 1,500 Total revenue: 3,500; Total costs: 2,800Native Wood Products Ltd sells hand-made coffee tables. The shop owner has divided sales into two categories according to the type of wood used in the tables, as follows: Product type Kahikatea Rimu Sales price $2,000 $1,200 Costs $1,200 $520 Sales commission $100 $60 Seventy percent (70%) of the shop's sales are rimu tables. The shop's annual fixed costs are $161,000. What is the shop's breakeven sales revenue in dollars?AudioMart is a retailer of radios, stereos, and televisions. The store carries two portable sound systems that have radios, tape players, and speakers. System A, of slightly higher quality than System B, costs $20 more. With rare exceptions, the store also sells a headset when a system is sold. The headset can be used with either system. Variable-costing income statements for the three products follow: System A System B Headset Sales $45,000 $32,500 $8,000 Less: Variable expenses 20,000 25,500 3,200 Contribution margin $25,000 $7,000 $4,800 Less: Fixed costs * 10,000 18,000 2,700 Operating income (loss) $15,000 $(11,000) $2,100 *This includes common fixed costs totaling $18,000, allocated to each product in proportion to its revenues. The owner of the store is concerned about the profit performance of System B and is considering dropping it. If the product is dropped, sales of System A will increase by 30%, and sales of headsets will drop by 25%. Round all…
- AudioMart is a retailer of radios, stereos, and televisions. The store carries two portable sound systems that have radios, tape players, and speakers. System A, of slightly higher quality than System B, costs $20 more. With rare exceptions, the store also sells a headset when a system is sold. The headset can be used with either system. Variable-costing income statements for the three products follow: System A System B Headset Sales $ 45,000 $ 32,500 $ 8,000 Less: Variable expenses 20,000 25,500 3,200 Contribution margin $25,000 $7,000 $4,800 Less: Fixed costs * 10,000 18,000 2,700 Operating income (loss) $15,000 $(11,000) $2,100 * This includes common fixed costs totaling $18,000, allocated to each product in proportion to its revenues. The owner of the store is concerned about the profit performance of System B and is considering dropping it. If the product is dropped, sales of System A will increase by 30%, and sales of headsets will drop by 25%. Round all…A manufacturer produces both widgets and gadgets. Widgets generate a profit of $50 each and gadgets have a profit margin of $35 each. To produce each item, a setup cost is incurred. This setup cost of $500 for widgets and $400 for gadgets. Widgets consume 4 units of raw material A and 5 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Each day, the manufacturer has 500 units of each raw material available Set up the problem in Excel and find the optimal solution. What is the maximum profit possible? Multiple Choice O O $3,500 $4.500 $5,500This question is based on t he following information: B Hon Company purchases thermostats and use them in heating units it manufactures. Annual requirement for the thermostat is 2,000 units. The cost per thermostat is P 20. The cost of placing a single order is P 50 while the cost of storage is 25% of the average inventory value. The suppler of the thermostat offers a discount of 2% if the company will order in lots of 500 units. 1. How much would be the total costs associated with the inventory if the company adopts the discounted ordering policy? . A. P 40,000 B. P 40,625 C. P 41,000 D. P 42,0002. How much is the net cash flow net of income taxes for the 3rd year?A. 17,268B. 22,000C. 22,994D. 30,618