Podcast
Questions and Answers
What is the company's current gross profit percentage?
What is the company's current gross profit percentage?
- 30%
- 20%
- 25% (correct)
- 35%
If Procedure 2 costs $10,000 in direct materials, what would Procedure 1's direct materials cost be assuming it costs twice as much?
If Procedure 2 costs $10,000 in direct materials, what would Procedure 1's direct materials cost be assuming it costs twice as much?
- $15,000 (correct)
- $7,500
- $20,000
- $5,000
How much is the company's target gross profit assuming monthly sales revenue of $600,000?
How much is the company's target gross profit assuming monthly sales revenue of $600,000?
- $200,000
- $180,000 (correct)
- $120,000
- $240,000
If Procedure 1's direct labor cost is $50,000, what would be the total cost of production for Procedure 1 based on the given cost makeup percentages?
If Procedure 1's direct labor cost is $50,000, what would be the total cost of production for Procedure 1 based on the given cost makeup percentages?
What would be the total cost of production for Procedure 2 if overhead costs are $9,000?
What would be the total cost of production for Procedure 2 if overhead costs are $9,000?
In the new initiative to produce goods in-house instead of buying from wholesale suppliers, what is the main reason for the strategic change?
In the new initiative to produce goods in-house instead of buying from wholesale suppliers, what is the main reason for the strategic change?
Blue Skies Inc. is a retail gardening company aiming to increase gross profit from 25% to ______%
Blue Skies Inc. is a retail gardening company aiming to increase gross profit from 25% to ______%
The cost makeup of Procedure 1 is 40% direct labor, 45% direct materials, and 15% ______
The cost makeup of Procedure 1 is 40% direct labor, 45% direct materials, and 15% ______
Procedure 1 costs twice as much as Procedure ______
Procedure 1 costs twice as much as Procedure ______
The company's actual labor cost for Procedure 1 is ______
The company's actual labor cost for Procedure 1 is ______
For Procedure 2, the cost makeup is 60% direct labor, 30% direct materials, and 10% ______
For Procedure 2, the cost makeup is 60% direct labor, 30% direct materials, and 10% ______
The company's current monthly sales revenue is $______
The company's current monthly sales revenue is $______
