D View 150% Zoom Add Page Insert Table Chart Text Shape Media Comment Callabarate Format Dacument For your statement of cost of goods sold, use the following data regarding the actual costs incurred by the business over the past month: Materials purchased: $20,000 Consumed 80% of the purchased materials Direct labor: $8,493.33 Overhead costs: $3,765 Note: Assume that the beginning materials and ending work in process are zero for the month. 1 Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing level options you chose in Milestone Two. Also, assume that after accounting for weekends and other holidays, there were 20 business days in the first month of operation. For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 33 x 20 - 660 per month. Milestone Two - Break-Even Analysis COLLARS LEASHES HARNESSES EL Sales Pro $ 12.00 $ 15.00 $ 18.00 Fixed Costs $ 4,028 $ 4,028 $ 4.202 Established Sales Price Number of items Sold per Day Collars $20 33 $24 28 $28 $ 23 Leashes $22 28 $26 23 $30 18 Harnesses $25 25 $30 22 $35 20 Contribution Margin $ 2.90 2.90 $ 3.40 Nothing selected. Select an object or text to format. Break-even Units (round upl 1,389.00 1,389.00 1,236.00 Target Profit $ 300.00 s 400.00 $ 500.00 Break-even Units (round upl 1,492.41 1,526.90 1,3R2.94 The other costs incurred by the business include: Target Profit $ 500.00 $ 600.00 $ 650.00 Break Even Units (round upl 1,562.00 1,596.00 1,427.00 . General and administrative salaries Receptionist: $1,950 o Owner salary: $500 Depreciation: $165 Rent: $750 Utilities and insurance: $600 Scissors, thread, and cording: $1,200 Loan repayment: $550 Variance At the end of the month, you find that the labor and materials spent on manufacturing collars was different from what you estimated: The collar maker had to work nine hours a day instead of eight due to an increased demand for collars. Because of the increased demand, the hourly rate you paid your employee for making the collars . D View 150% Zoom Add Page Insert Table Chart Text Shape Media Comment Callabarate Format Dacument For your statement of cost of goods sold, use the following data regarding the actual costs incurred by the business over the past month: Materials purchased: $20,000 Consumed 80% of the purchased materials Direct labor: $8,493.33 Overhead costs: $3,765 Note: Assume that the beginning materials and ending work in process are zero for the month. 1 Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing level options you chose in Milestone Two. Also, assume that after accounting for weekends and other holidays, there were 20 business days in the first month of operation. For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 33 x 20 - 660 per month. Milestone Two - Break-Even Analysis COLLARS LEASHES HARNESSES EL Sales Pro $ 12.00 $ 15.00 $ 18.00 Fixed Costs $ 4,028 $ 4,028 $ 4.202 Established Sales Price Number of items Sold per Day Collars $20 33 $24 28 $28 $ 23 Leashes $22 28 $26 23 $30 18 Harnesses $25 25 $30 22 $35 20 Contribution Margin $ 2.90 2.90 $ 3.40 Nothing selected. Select an object or text to format. Break-even Units (round upl 1,389.00 1,389.00 1,236.00 Target Profit $ 300.00 s 400.00 $ 500.00 Break-even Units (round upl 1,492.41 1,526.90 1,3R2.94 The other costs incurred by the business include: Target Profit $ 500.00 $ 600.00 $ 650.00 Break Even Units (round upl 1,562.00 1,596.00 1,427.00 . General and administrative salaries Receptionist: $1,950 o Owner salary: $500 Depreciation: $165 Rent: $750 Utilities and insurance: $600 Scissors, thread, and cording: $1,200 Loan repayment: $550 Variance At the end of the month, you find that the labor and materials spent on manufacturing collars was different from what you estimated: The collar maker had to work nine hours a day instead of eight due to an increased demand for collars. Because of the increased demand, the hourly rate you paid your employee for making the collars