Mba Accounting Homework Help?

1st Annual Muddy Blues Festival
Statement of Profit and Loss
August, 2012
Ticket Sales $38,640
Contributions from Sponsors 8,800
T-Shirt Sales 9,000
Bumper Sticker Sales 3,000
Concession/Vendor Fees 1,350
Total Receipts $60,790
Musical Performance Fees $32,800
VIP Catering 5,762
Prize Money 5,500
Hotel Rooms for Musicians 4,288
Cost of T-Shirts & Bumper Stickers 3,401
Sponsor Signs 3,133
Insurance 2,046
Ticket Sellers 1,936
Miscellaneous Fixed Costs 1,662
Portable Toilets 1,260
Ticket Printing 1,050
Security 1,043
Judging Fees 750
Gifts for First 200 Children 500
Total Expenses 65,131
Net Profit/Loss ($4,341)
Ticket Sales
Prices Adult = $10 Child = $5
Friday Saturday Sunday Total
Adult 936 1,281 1,243 3,460
Child 242 264 302 808
Total 1,178 1,545 1,545 4,268
Receipts $ 10,570 $ 14,130 $ 13,940 $ 38,640
VIP Catering Costs
# of VIPs Cost
Friday 62 $ 1,776
Saturday 94 2,281
Sunday 58 1,705
Total Catering Costs $ 5,762
Print Shop Costs
Materials Labor Total
T-Shirts $ 1,537 $ 420 $ 1,957
Bumper Stickers 914 530 1,444
$ 2,451 $ 950 $ 3,401
2012 Print Shop Estimates
Total Overhead $ 52,433
Total Labor Hours 2,420
Total Machine Hours 1,673
Labor hours used – t-shirts 142
Labor hours used – bumper stickers 102
Machine hours used – t-shirts 89
Machine hours used – bumper stickers 151
2. The town’s print shop only charged The Collective materials and labor for the t-shirts and bumper stickers. The Collective sold all t-shirts and bumper stickers it manufactured. The t-shirts sold for $12 each and the bumper stickers were sold for $4 each. Calculate the total manufacturing costs of both items per unit and the gross profit per unit of both items:
a. using direct labor hours as the overhead allocation base
b. using machine hours as the overhead allocation base

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