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The Little Rock Shirt Company makes two types of T-shirts: basic and custom. please fill all the requirements if you can! Thank you :))

Homework: Comprehensive Problem 1 for Chp M:1 - M:5 Question 1, CompM5-1 The Little Rock Shirt Company makes two types of T-shirts: basic and custom. (Click the icon to view the additional information.) (similar to) Part 5 of 25 For March 2024, the Little Rock Shirt Company compiled. the following data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) (Click the icon to view the Sewing data.) UNITS Get more help. HW Score: 33.33%, 0.33 of 1 point of 1 Requirement 1. Complete a production cost report for the Cutting Department and the Sewing Department. What is the cost of one basic shirt? Whole Units For the same time period, the Little Rock Shirt Company compiled the following data for the Custom Design Department: (Click the icon to view the Custom Design data.) Read the requirements. Begin by completing a production report for the Cutting Department. (Complete all input fields, Enter a "0" for any zero balances. Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP = equivalent units of production.) Points: 0.33 Little Rock Shirt Company Production Cost Report-Cutting Department Month Ended March 31, 2024 Transferred In Equivalent Units Direct Materials Save Clear all Conversion Costs Check answer home wo types al informe Company data.) data.) on cost re jort for the uction) LI roduction Ma 77 omework: Comprehensive roblem 1 for Chp vi More info Question 1, CompM5-1 (similar to) HW Score: 33.33%, 0.33 of 1 point Basic shirts are plain shirts without any screen printing on them. Custom shirts are created using the basic shirts and then adding a custom screen printing design. The company buys cloth in various colors and then makes the basic shirts in two departments, Cutting and Sewing. The company uses a process costing system (weighted-average method) to determine the production cost of the basic shirts. In the Cutting Department, direct materials (cloth) are added at the beginning of the process and conversion costs are added evenly through the process. In the Sewing Department, no direct materials are added. The only additional material, thread, is considered an indirect material because it cannot be easily traced to the finished product. Conversion costs are added evenly throughout the process in the Sewing Department. The finished basic shirts are sold to retari stores or are sent to the Custom Design Department for custom screen printing. Print - The Custom Design Department creates custom shirts by adding screen printing to the basic shirt. The department creates a design based on the customer's request and then prints the design using up to four colors. Because these shirts have the custom printing added, which is unique for each order, the additional cost incurred is determined using job order costing, with each custom order considered a separate job. Done - X 10 Save hirt e gn at is y zer omework: omprehensive oblem 1 for Chp 1-M:5 Rock Shirt Company makes two types of Data table Question 1, CompM5-1 (similar to) Part 5 of 25 Cutting Department Beginning balance Started in March Direct materials added in March Conversion costs Completed and transferred to Sewing Ending balance Print Amount For the same time period, the Little Rock S SA Done 0 1,820 2,100 ??? HW Score: 33.33%, 0.33 of 1 point Points: 0.33 of 1 0 Units O shirts 1,400 shirts Sa 1,400 shirts O shirts Data table Sewing Department Beginning balance, transferred in, $700; conversion costs, $300 Transferred in from Cutting Conversion costs added in March Completed and transferred to Finished Goods Ending balance, 50% complete Print Amount $ 1,000 Done ??? 1,440 ??? ??? Units 250 shirts ??? 1,250 shirts ??? Equivalent Units Data table Job 367 368 369 370 Quantity Design Fee 100 Yes 50 No 400 Yes 300 Yes Printing 2 colors 4 colors 3 colors 4 colors Print The Little Rock Shirt Company has previously determined that creating and programming the design cost $70 per design. This is a one-time charge. If a customer places another order with the same design, the customer is not charged a second time. Additionally, the cost to print is $0.30 per color per shirt. Status Complete Complete Complete Complete Done e Little Rock Shirt Company makes two types of T-shirts: basic d custom. (Click the icon to view the additional information.) or March 2024, the Little Rock Shirt Company compiled the llowing data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) (Click the icon to view the Sewing data.) * Compition and want Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Etext pages JUL 10 phu ht tt 400 1,650 XXX 1,GUU 400 33 1,650 Transferred In Calculator Ask my instructor For the same time period, the Little Rock S compiled the following data for the Custom Department: (Click the icon to view the Custom Des Read the requirements. rva n/a n/a Direct Materials n/a n/a n/a n/a n/a 1,600 200 W 1,450 Conversion Costs Clear all Total Costs Check a tv MacBook 91TX 1211 JUL Requirements Timano 0000 motory is the same as the unit Coat incurred the money. If the company set the sales price at 125% of the cost, determine the sales price per unit, total sales revenue, total cost of goods sold, and total gross profit for the basic shirts. 4. Calculate the total revenue, total cost of goods sold, and total gross profit for all sales, basic and custom. 5. Assume the company sold only basic shirts (no custom designs) and incurred fixed costs of $800 per month. a. Calculate the contribution margin per unit, contribution margin ratio, required sales in units to break even, and required sales in dollars to break even. b. Determine the margin of safety in units and dollars. c. Graph Little Rock Shirt Company's CVP relationships. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, and the operating income area. d. Suppose the Little Rock Shirt Company wants to earn an operating income of $1,800 per month. Compute the required sales in units and dollars to achieve this profit goal. 6. The Little Rock Shirt Company is considering adding a new product line, a cloth shopping bag with custom screen printing that will be sold to grocery stores. If the current market price of cloth shopping bags is $1.88 and the company desires a net profit of 60%, what is the target cost? The company estimates the full product cost of the cloth bags will be $0.85. Should the company manufacture the cloth bags? Why or why not? Valculator Print MSK my mouton - X Done Vital all ned t or br an x-i un htt VO d CC tal ale Requirements 1. Complete a production cost report for the Cutting Department and the Sewing Department. What is the cost of one basic shirt? 2. Determine the total cost and the average cost per shirt for jobs 367, 368, 369, and 370. If the company set the sales price at 150% of the total cost, determine the total sales price of each job. 3. In addition to the custom jobs, the Little Rock Shirt Company sold 1,250 basic shirts (assume the beginning balance in Finished Goods Inventory is sufficient to make these sales, and the unit cost of the basic shirts in Finished Goods Inventory is the same as the unit cost incurred this month). If the company set the sales price at 125% of the cost, determine the sales price per unit, total sales revenue, total cost of goods sold, and total gross profit for the basic shirts. 4. Calculate the total revenue, total cost of goods sold, and total gross profit for all sales, basic and custom. 5. Assume the company sold only basic shirts (no custom designs) and incurred fixed costs of $800 per month. a. Calculate the contribution margin per unit, contribution margin ratio, required sales in units to break even, and required sales in dollars to break even. b. Determine the margin of safety in units and dollars. c. Graph Little Rock Shirt Company's CVP relationships. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, and the operating income area. Print Done X Homework: Comprehensive Problem 1 for Chp M:1 - M:5 Question 1, CompM5-1 The Little Rock Shirt Company makes two types of T-shirts: basic and custom. (Click the icon to view the additional information.) (similar to) Part 5 of 25 For March 2024, the Little Rock Shirt Company compiled. the following data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) (Click the icon to view the Sewing data.) UNITS Get more help. HW Score: 33.33%, 0.33 of 1 point of 1 Requirement 1. Complete a production cost report for the Cutting Department and the Sewing Department. What is the cost of one basic shirt? Whole Units For the same time period, the Little Rock Shirt Company compiled the following data for the Custom Design Department: (Click the icon to view the Custom Design data.) Read the requirements. Begin by completing a production report for the Cutting Department. (Complete all input fields, Enter a "0" for any zero balances. Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP = equivalent units of production.) Points: 0.33 Little Rock Shirt Company Production Cost Report-Cutting Department Month Ended March 31, 2024 Transferred In Equivalent Units Direct Materials Save Clear all Conversion Costs Check answer home wo types al informe Company data.) data.) on cost re jort for the uction) LI roduction Ma 77 omework: Comprehensive roblem 1 for Chp vi More info Question 1, CompM5-1 (similar to) HW Score: 33.33%, 0.33 of 1 point Basic shirts are plain shirts without any screen printing on them. Custom shirts are created using the basic shirts and then adding a custom screen printing design. The company buys cloth in various colors and then makes the basic shirts in two departments, Cutting and Sewing. The company uses a process costing system (weighted-average method) to determine the production cost of the basic shirts. In the Cutting Department, direct materials (cloth) are added at the beginning of the process and conversion costs are added evenly through the process. In the Sewing Department, no direct materials are added. The only additional material, thread, is considered an indirect material because it cannot be easily traced to the finished product. Conversion costs are added evenly throughout the process in the Sewing Department. The finished basic shirts are sold to retari stores or are sent to the Custom Design Department for custom screen printing. Print - The Custom Design Department creates custom shirts by adding screen printing to the basic shirt. The department creates a design based on the customer's request and then prints the design using up to four colors. Because these shirts have the custom printing added, which is unique for each order, the additional cost incurred is determined using job order costing, with each custom order considered a separate job. Done - X 10 Save hirt e gn at is y zer omework: omprehensive oblem 1 for Chp 1-M:5 Rock Shirt Company makes two types of Data table Question 1, CompM5-1 (similar to) Part 5 of 25 Cutting Department Beginning balance Started in March Direct materials added in March Conversion costs Completed and transferred to Sewing Ending balance Print Amount For the same time period, the Little Rock S SA Done 0 1,820 2,100 ??? HW Score: 33.33%, 0.33 of 1 point Points: 0.33 of 1 0 Units O shirts 1,400 shirts Sa 1,400 shirts O shirts Data table Sewing Department Beginning balance, transferred in, $700; conversion costs, $300 Transferred in from Cutting Conversion costs added in March Completed and transferred to Finished Goods Ending balance, 50% complete Print Amount $ 1,000 Done ??? 1,440 ??? ??? Units 250 shirts ??? 1,250 shirts ??? Equivalent Units Data table Job 367 368 369 370 Quantity Design Fee 100 Yes 50 No 400 Yes 300 Yes Printing 2 colors 4 colors 3 colors 4 colors Print The Little Rock Shirt Company has previously determined that creating and programming the design cost $70 per design. This is a one-time charge. If a customer places another order with the same design, the customer is not charged a second time. Additionally, the cost to print is $0.30 per color per shirt. Status Complete Complete Complete Complete Done e Little Rock Shirt Company makes two types of T-shirts: basic d custom. (Click the icon to view the additional information.) or March 2024, the Little Rock Shirt Company compiled the llowing data for the Cutting and Sewing Departments: (Click the icon to view the Cutting data.) (Click the icon to view the Sewing data.) * Compition and want Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Etext pages JUL 10 phu ht tt 400 1,650 XXX 1,GUU 400 33 1,650 Transferred In Calculator Ask my instructor For the same time period, the Little Rock S compiled the following data for the Custom Department: (Click the icon to view the Custom Des Read the requirements. rva n/a n/a Direct Materials n/a n/a n/a n/a n/a 1,600 200 W 1,450 Conversion Costs Clear all Total Costs Check a tv MacBook 91TX 1211 JUL Requirements Timano 0000 motory is the same as the unit Coat incurred the money. If the company set the sales price at 125% of the cost, determine the sales price per unit, total sales revenue, total cost of goods sold, and total gross profit for the basic shirts. 4. Calculate the total revenue, total cost of goods sold, and total gross profit for all sales, basic and custom. 5. Assume the company sold only basic shirts (no custom designs) and incurred fixed costs of $800 per month. a. Calculate the contribution margin per unit, contribution margin ratio, required sales in units to break even, and required sales in dollars to break even. b. Determine the margin of safety in units and dollars. c. Graph Little Rock Shirt Company's CVP relationships. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, and the operating income area. d. Suppose the Little Rock Shirt Company wants to earn an operating income of $1,800 per month. Compute the required sales in units and dollars to achieve this profit goal. 6. The Little Rock Shirt Company is considering adding a new product line, a cloth shopping bag with custom screen printing that will be sold to grocery stores. If the current market price of cloth shopping bags is $1.88 and the company desires a net profit of 60%, what is the target cost? The company estimates the full product cost of the cloth bags will be $0.85. Should the company manufacture the cloth bags? Why or why not? Valculator Print MSK my mouton - X Done Vital all ned t or br an x-i un htt VO d CC tal ale Requirements 1. Complete a production cost report for the Cutting Department and the Sewing Department. What is the cost of one basic shirt? 2. Determine the total cost and the average cost per shirt for jobs 367, 368, 369, and 370. If the company set the sales price at 150% of the total cost, determine the total sales price of each job. 3. In addition to the custom jobs, the Little Rock Shirt Company sold 1,250 basic shirts (assume the beginning balance in Finished Goods Inventory is sufficient to make these sales, and the unit cost of the basic shirts in Finished Goods Inventory is the same as the unit cost incurred this month). If the company set the sales price at 125% of the cost, determine the sales price per unit, total sales revenue, total cost of goods sold, and total gross profit for the basic shirts. 4. Calculate the total revenue, total cost of goods sold, and total gross profit for all sales, basic and custom. 5. Assume the company sold only basic shirts (no custom designs) and incurred fixed costs of $800 per month. a. Calculate the contribution margin per unit, contribution margin ratio, required sales in units to break even, and required sales in dollars to break even. b. Determine the margin of safety in units and dollars. c. Graph Little Rock Shirt Company's CVP relationships. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, and the operating income area. Print Done X

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