Expert answer:Need help with team assignment.

Expert answer:Cost Behavior AnalysisPurpose of Assignment The case study focuses on sales mix, break-even, target profit, and allows students to experience working through a business scenario to apply these tools in managerial decision making. Students are required to make decisions and provide solutions based on their evaluation of financial data. Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.Scenario: Dazzle Jewelry Company is a new startup merchandising company with the goal of offering fine jewelry at reasonable prices. This goal has been made possible by securing manufactures that have agreed to offer wholesale prices to Dazzle Jewelry Company. Dazzle’s jewelry supplier’s act in good faith is based on the hopes that this will be a long term relationship, and Dazzle’s orders will increase considerably with the next 18 months. However, in order for Dazzle Jewelry Company to achieve this it must increase its sales. Dazzle Jewelry company just completed its first month of operations, the brother/sister owned startup inventory includes fresh water pearls, sterling silver, stainless steel watches and quality stone pieces. Each of the inventory category includes earrings, necklaces, rings and bracelets, except the stainless steel watches. The average cost of earrings per unit is $10 with an average selling price of $55, 20 units have been sold. The average cost of the necklace is $15 with a selling price of $65, 25 units have been sold. The bracelets have an average cost of $12 and a selling price of $45, 15 units have been sold. The rings on an average sell for $35, but cost $11 per unit, 30 units have been sold. The stainless steel watches average cost per unit is $35 with a selling price average of $85, and 50 units have been sold.Dazzle Jewelry Company plans to start their business online before setting up a physical store location to keep their overhead cost low. However, since this is Dazzle Jewelry’s first year of operations the owners have decided to employed your firm to help them determine how many jewelry units they need to sell in the current operating year to reach their targeted profit of $300,000. The owners realize that this information is vital in helping them develop their sales and marketing strategy.Dazzle Jewelry Company owners noted in a follow-up e-mail that fixed cost for the year totaled $76,320, however this cost is likely to increase in the coming months by 20% based on a marketing proposal that was submitted by Bosch Advertising. The owners also noted in the e-mail that fixed cost is the same amount each month.Use the provided worksheet to complete this assignment.Show your work in Microsoft® Word and Excel®. Complete calculations/computations using Excel®. Complete the Microsoft® Word worksheet, answer each question thoughtfully providing insight, state your findings, and support your conclusion.My part is on the Microsoft word sheet in yellow. The excel file i uploaded Im not sure which part i will have to do. I may not be have to do any part of the excel. We have not decided.
cvpanalysissupplementalinformation.docx

dazzlejewelry_cvpanalysis_studentworksheet.xlsx

Unformatted Attachment Preview

Learning Team:
Date:
Assignment: Dazzle Jewelry Company Cost Volume Profit Analysis Feedback
Questions
Based on your analysis, how
many units will Dazzle Jewelry
need to break-even? What
recommendation do you have
for the owners related to
break-even?
Based on your analysis, how
many units will Dazzle Jewelry
need to reach their target
profit? What recommendation
do you have for the owners
related to reaching their target
profit of $300,000?
Aside from increasing jewelry
units for sale, what else would
you recommend Dazzle
Jewelry Company do to
increase their sales?
As a merchandise business,
what are some items that
contribute to the variable cost
amount for Dazzle Jewelry
Company?
From a management
viewpoint what five areas must
Dazzle Jewelry Company
owners need to monitor to
achieve profitability? Why?
Response
Instructor
Feedback/Comments:
Dazzle Jewelry Company
Sales Mix and CM Ratio
Date:
Sales Mix
Sales Price Per Unit
Earrings
Necklaces
Braclets
Rings
Watches
$
$
$
$
$
Unit Sales
–
0
0
0
0
0
0
Weighted Average Sales Price
Sales Mix
Sales Price Per Unit
Earrings
Necklaces
Braclets
Rings
Watches
$
$
$
$
$
Weighted Average Variable Cost
Sales Mix
Earrings
Necklaces
Braclets
Rings
Watches
Contribution Margin
Contribution Margin Ratio
–
Variable Cost Per
Unit
$
$
$
$
$
–
Sales – Variable Cost
Comtribution Margin
Sales
Percent of
Total Sales
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Percent of
Total Sales
0%
0%
0%
0%
0%
Sales Dollars
$
$
$
$
$
$
Percent of
Total Sales
–
Weighted Average Sales
Price per unit
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
Weighted Average
Variable Cost per unit
$
$
$
$
$
$
–
Answer
Answer
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Dazzle Jewelry Company
CVP Analysis Information
Required Information
Total Monthly Sales Volume
Weighted Average Sales Price per unit
Weighted Variable Cost per unit
Contribution Margin Ratio
Total Yearly Fixed Cost
Total Monthly Fixed Cost
Dazzle Jewelry Company
Contribution Income Statement
Date:
Total
Sales (140 units)
Variable Expenses
Contribution Margin
Fixed Expenses
Net Operating Income
Refer to LO5-1 of the
course textbook
Explain how changes in
activity affect
contribution margin and
net operating income.
$
$
$
$
$
–
Per Unit
$
$
$
–
Dazzle Jewelry Company
Break-Even and Target Profit Analysis
Date:
Break-Even Analysis
Dollars Sales to Break-Even
Fixed Expenses
$
–
Contribution Margin ratio
$
–
Fixed Expenses
Unit Contribution Margin
$
$
–
Dollar Sales to attain Target Profit
Target Profit + Fixed Expenses
Contribution Margin Ratio
$
$
–
Unit Sales to attain the Target Profit
Target Profit + Fixed Expenses
Contribution margin
$
$
–
Unit Sale to Break-Even:
Target Profit Analysis
any
Analysis
…
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