1. What is the average cost of goods manufactured per unit in 2016? 2.What is the total...
Question:
1. What is the average cost of goods manufactured per unit in 2016?
2.What is the total Cost of Goods Sold in 2016?
3.What is the Net Income for Mutt Butter in 2016?
4.At the end of the year, Mutt Butter received a call that the kitchen facility found an additional 100 oz. package of peanut butter that cost $100. This discovery increased the ending balance of peanut butter in 2016 to $700. Assuming all else equal, how would this discovered error in the ending balance of Peanut Butter change the Cost of Goods Sold?
a. Decrease COGS by $83.33
b. Increase COGS by $83.33
c. Decrease COGS by $100
d. Increase COGS by $100
5.YES/NO: Julia is considering hiring a chef for production while she becomes a residual claimant and does not draw a salary. The chef has agreed to take on the job for a fixed salary of $3,000 a year plus a bonus if cost of goods manufactured per unit decreases by $0.20 compared with the cost of goods manufactured per unit in 2016. Assuming the cost per oz of peanut butter, the cost per oz. of nutrient mix, the cost per cup, and the rent remain the same, will the new chef earn a bonus if the chef produces 3,000 1.5 oz. servings?
6..YES/NO:Julia is considering hiring a chef for production while she becomes a residual claimant and does not draw a salary. The chef has agreed to take on the job for a fixed salary of $3,000 a year plus a bonus if cost of goods manufactured per unit decreases by $0.20 compared with the cost of goods manufactured per unit in 2016. Assuming the cost per oz of peanut butter, the cost per oz. of nutrient mix, the cost per cup, the rent remain the same, will the new chef earn a bonus if the chef produces 4,000 1.5 oz. servings?
7..YES/NO: Suppose the chef has agreed to take on the job for a fixed salary of $3,000 a year plus a bonus if the variable cost of goods manufactured per unit decreases by $0.20 compared with the cost of goods manufactured per unit in 2016. Assuming the cost per oz of peanut butter, the cost per oz. of nutrient mix, the cost per cup, the rent remain the same, will the new chef earn a bonus if the chef produces 3,000 1.5 oz. servings?
8. YES/NO: Suppose the chef has agreed to take on the job for a fixed salary of $3,000 a year plus a bonus if the variable cost of goods manufactured per unit decreases by $0.20 compared with the cost of goods manufactured per unit in 2016. Assuming the cost per oz of peanut butter, the cost per oz. of nutrient mix, the cost per cup, the rent remain the same, will the new chef earn a bonus if the chef produces 4,000 1.5 oz. servings?
9. Although Julia was committed to pay for 25 days to use the kitchen, she only used 20 days. What would happen to the total Cost off Goods Manufactured in 2016 if she were to sublet those 5 days to another chef for $750.
a. Total COGM would increase by $750.
b. Total COGM would decrease by $750.
c. Total COGM would not change.
d. Total COGM would increase by $625