Question: Help me please!!! Problem 1 James Company provided the following information regarding its rst year of operations: Administrative salaries $ 60,000 Depreciation on factory equipment

Help me please!!!


Problem 1 James Company provided the following information regarding its rst year of operations: Administrative salaries $ 60,000 Depreciation on factory equipment 16,000 Indirect materials 4,000 Marketing costs 40,000 Salaries for factory supervisors 28,000 Wages for production workers 80,000 Raw materials used 100,000 Research and development 32,000 Rent on factory building 18,000 Sales revenues 432,000 Sales salaries and other selling costs 56,000 Beginning inventory 0 units Number of units produced 20,000 units Number of units sold 18,000 units (1 point) Question 1 - Calculate total product costs. (1 point) Question 2 - Calculate product cost per unit. (1 point) Question 3 - Determine total cost of ending nished goods inventory. (1 point) Question 4 - Calculate total cost of goods sold. (1 point) Question 5 - What is James Company's gross margin for the rst year of operations? Problem 2 Artisan's Arch, Inc. (AAI) contracts with artists to exhibit their work to the public. AAI has agreed to pay a well- known artist a $20,000 commission for the right to exhibit his work for one month. (2 points) Question 1 - Determine the total commission cost and the commission cost per person if 1,000, 2,000, or 4,000 people attend the exhibition. Is the commission cost xed or variable? (2 points) Question 2 - AAI sells books illustrating the artist's work to patrons. The books cost AAI $5 each. Determine the total cost of books and the cost per person if 1,000, 2,000, or 4,000 people attend the exhibition and wish to purchase the books. Is the book cost xed or variable
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
