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Problems Prepare the problems below using Exc… | Wiki Cram

Problems Prepare the problems below using Exc…

Questions

Prоblems Prepаre the prоblems belоw using Excel. Uploаd the workbook using the link. 1. (18 points) Xаvior Sales Corporation, a merchandising company, reported total sales of $2,414,000 for May. Variable selling expenses were $104,900, fixed selling expenses were $50,100, variable administrative expenses were $114,000, and fixed administrative expenses were $147,200. The cost of merchandise purchased during the month was $1,660,300. The beginning balance in the merchandise inventory account was $238,500, and the ending balance was $233,900. In addition to the above costs, sales salaries and commissions were $38,100 plus 8% of sales. Required: a. Prepare a contribution format income statement for May. b. Prepare a traditional format income statement for May. 2. (6 points) Electrical costs of one of Reifel Corporation's factories are listed below: Machine- Electrical Hours Cost March 286 $5,894 April 251 $5,576 May 275 $5,770 June 296 $5,967 July 313 $6,052 August 259 $5,648 September 306 $6,027 October 245 $5,525 November 249 $5,543 Management believes that electrical cost is a mixed cost that depends on machine-hours. Required: a. Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. Show your work. Round the variable cost per unit to the nearest cent and the fixed cost to the nearest whole dollar. b. Express these costs as a formula in the format y = mx + b. c. Using the formula derived above, estimate the electrical cost when machine-hours in a month are 280. Round to the nearest dollar. Show your work.

Prоblems Prepаre the prоblems belоw using Excel. Uploаd the workbook using the link. 1. (18 points) Xаvior Sales Corporation, a merchandising company, reported total sales of $2,414,000 for May. Variable selling expenses were $104,900, fixed selling expenses were $50,100, variable administrative expenses were $114,000, and fixed administrative expenses were $147,200. The cost of merchandise purchased during the month was $1,660,300. The beginning balance in the merchandise inventory account was $238,500, and the ending balance was $233,900. In addition to the above costs, sales salaries and commissions were $38,100 plus 8% of sales. Required: a. Prepare a contribution format income statement for May. b. Prepare a traditional format income statement for May. 2. (6 points) Electrical costs of one of Reifel Corporation's factories are listed below: Machine- Electrical Hours Cost March 286 $5,894 April 251 $5,576 May 275 $5,770 June 296 $5,967 July 313 $6,052 August 259 $5,648 September 306 $6,027 October 245 $5,525 November 249 $5,543 Management believes that electrical cost is a mixed cost that depends on machine-hours. Required: a. Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. Show your work. Round the variable cost per unit to the nearest cent and the fixed cost to the nearest whole dollar. b. Express these costs as a formula in the format y = mx + b. c. Using the formula derived above, estimate the electrical cost when machine-hours in a month are 280. Round to the nearest dollar. Show your work.

Prоblems Prepаre the prоblems belоw using Excel. Uploаd the workbook using the link. 1. (18 points) Xаvior Sales Corporation, a merchandising company, reported total sales of $2,414,000 for May. Variable selling expenses were $104,900, fixed selling expenses were $50,100, variable administrative expenses were $114,000, and fixed administrative expenses were $147,200. The cost of merchandise purchased during the month was $1,660,300. The beginning balance in the merchandise inventory account was $238,500, and the ending balance was $233,900. In addition to the above costs, sales salaries and commissions were $38,100 plus 8% of sales. Required: a. Prepare a contribution format income statement for May. b. Prepare a traditional format income statement for May. 2. (6 points) Electrical costs of one of Reifel Corporation's factories are listed below: Machine- Electrical Hours Cost March 286 $5,894 April 251 $5,576 May 275 $5,770 June 296 $5,967 July 313 $6,052 August 259 $5,648 September 306 $6,027 October 245 $5,525 November 249 $5,543 Management believes that electrical cost is a mixed cost that depends on machine-hours. Required: a. Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. Show your work. Round the variable cost per unit to the nearest cent and the fixed cost to the nearest whole dollar. b. Express these costs as a formula in the format y = mx + b. c. Using the formula derived above, estimate the electrical cost when machine-hours in a month are 280. Round to the nearest dollar. Show your work.

Prоblems Prepаre the prоblems belоw using Excel. Uploаd the workbook using the link. 1. (18 points) Xаvior Sales Corporation, a merchandising company, reported total sales of $2,414,000 for May. Variable selling expenses were $104,900, fixed selling expenses were $50,100, variable administrative expenses were $114,000, and fixed administrative expenses were $147,200. The cost of merchandise purchased during the month was $1,660,300. The beginning balance in the merchandise inventory account was $238,500, and the ending balance was $233,900. In addition to the above costs, sales salaries and commissions were $38,100 plus 8% of sales. Required: a. Prepare a contribution format income statement for May. b. Prepare a traditional format income statement for May. 2. (6 points) Electrical costs of one of Reifel Corporation's factories are listed below: Machine- Electrical Hours Cost March 286 $5,894 April 251 $5,576 May 275 $5,770 June 296 $5,967 July 313 $6,052 August 259 $5,648 September 306 $6,027 October 245 $5,525 November 249 $5,543 Management believes that electrical cost is a mixed cost that depends on machine-hours. Required: a. Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. Show your work. Round the variable cost per unit to the nearest cent and the fixed cost to the nearest whole dollar. b. Express these costs as a formula in the format y = mx + b. c. Using the formula derived above, estimate the electrical cost when machine-hours in a month are 280. Round to the nearest dollar. Show your work.