Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. island potteries (ip) make various clay and cerami

Island Potteries (IP) make various clay and ceramic product in its St. Thomas Facilities. IP's...

60.1K

Verified Solution

Question

Accounting

image

Island Potteries (IP) make various clay and ceramic product in its St. Thomas Facilities. IP's three most popular products are, Vases, Dinner Plates and Plant pots. IP currently has the following resources for the current year, 14,000 pounds (lbs) of material and 1,750 labour hours available for production. Production and sales details relating to the signature Products are shown below: Vases Dinner Plates Plant Pots Selling price per unit $84.00 $30.00 $225.00 Direct material (Clay) 2.1 0.6 3.25 @$20 per Pound Direct labor@ $40 per 0.25 0.15 1.00 hour Variable overhead @ 100% of direct labor cost Furnace hours required 1.5 hrs .5 hrs 5 hrs Sales demand units 1,600 2,400 1,100 (annual) Budgeted other fixed manufacturing overheads and selling and admin cost total $ 115,200 Required. Complete the table below to indicate whether GPL has sufficient production capacity to satisfy sales demand for the coming year by providing the information for the optimal production plan for GPL for the current year and the total profit expected. Vases Dinner Plates Plant Pots Total Contribution Margin per s $ unit Contribution Margin per $ Limiting Factor Optimal Production in units Expected Net Income

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Provide an example 1) A nested sequence of closed, nonempty sets whose intersection is empty. 2) A set...

Advance Math
Q

Given the benefits of Continuous Improvement techniques like Six Sigma and Lean, why is it that...

General Management
Q

can anyone tell me the reason why if the number of basis is equal to the...

Advance Math
Q

Two spheres of same radius R have their densities in the ratio 1 8 and...

Physics
Q

True or False The following system of the compound propositions is consistent PAT qvp O...

Basic Math
Q

-24 Question 2 1 Point Tee Times, Inc. produces and sells...

Accounting
Q

Which of the following taxpayers meet the residency test by means of the substantial presence...

Accounting
Q

Chuck, a single taxpayer, earns $42,000 in taxable income and $10,900 in interest from an...

Accounting
Q

This problem consists of two parts. Part 1 A portion of the Stockholders' Equity section...

Accounting
Q

#4 ...

Accounting
Q

Jordan Company makes and sells products with variable costs of $24 each. Jordan incurs annual...

Accounting
Q

To help finance a major expansion, Castro Chemical Company sold a noncallable bond several years...

Finance