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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 $2,567,000 for May. Variable selling expenses were $112,700, fixed selling expenses were $51,200, variable administrative expenses were $117,500, and fixed administrative expenses were $134,600. The cost of merchandise purchased during the month was $1,532,300. The beginning balance in the merchandise inventory account was $216,600, and the ending balance was $275,800. In addition to the above costs, sales salaries and commissions were $32,800 plus 3% 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 306 $6,056 April 261 $5,639 May 301 $5,990 June 243 $5,511 July 274 $5,776 August 297 $5,990 September 280 $5,811 October 279 $5,795 November 262 $5,690 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 $2,567,000 for May. Variable selling expenses were $112,700, fixed selling expenses were $51,200, variable administrative expenses were $117,500, and fixed administrative expenses were $134,600. The cost of merchandise purchased during the month was $1,532,300. The beginning balance in the merchandise inventory account was $216,600, and the ending balance was $275,800. In addition to the above costs, sales salaries and commissions were $32,800 plus 3% 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 306 $6,056 April 261 $5,639 May 301 $5,990 June 243 $5,511 July 274 $5,776 August 297 $5,990 September 280 $5,811 October 279 $5,795 November 262 $5,690 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 $2,567,000 for May. Variable selling expenses were $112,700, fixed selling expenses were $51,200, variable administrative expenses were $117,500, and fixed administrative expenses were $134,600. The cost of merchandise purchased during the month was $1,532,300. The beginning balance in the merchandise inventory account was $216,600, and the ending balance was $275,800. In addition to the above costs, sales salaries and commissions were $32,800 plus 3% 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 306 $6,056 April 261 $5,639 May 301 $5,990 June 243 $5,511 July 274 $5,776 August 297 $5,990 September 280 $5,811 October 279 $5,795 November 262 $5,690 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 $2,567,000 for May. Variable selling expenses were $112,700, fixed selling expenses were $51,200, variable administrative expenses were $117,500, and fixed administrative expenses were $134,600. The cost of merchandise purchased during the month was $1,532,300. The beginning balance in the merchandise inventory account was $216,600, and the ending balance was $275,800. In addition to the above costs, sales salaries and commissions were $32,800 plus 3% 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 306 $6,056 April 261 $5,639 May 301 $5,990 June 243 $5,511 July 274 $5,776 August 297 $5,990 September 280 $5,811 October 279 $5,795 November 262 $5,690 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.

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