Playtime Electronics Produces Two Kinds of Electronic Toys,Wizards and Gizmos

question 127

Essay

Playtime Electronics produces two kinds of electronic toys,Wizards and Gizmos.During the current period,8,000 Wizards and 16,000 Gizmos were produced and sold,generating revenues of $500,000 and $2,000,000,respectively.Unit production costs for the two toys are $50 for Wizards and $70 for Gizmos.In calculating the cost of goods sold,Playtime uses activity-based costing to allocate its overhead costs.However,upstream costs of $240,000 are allocated equally to the two products.
Required:
1)Compute the total net profit for each product and for the firm as a whole.
2)Would you advise eliminating either toy? Why or why not?

Explain the computation and significance of variance and standard deviation in data analysis.

Correlate the definitions of mean, median, mode, range, and standard deviation to their roles in data analysis.

Evaluate the effects of weighting on mean calculations.

Understand the structure and function of the scleral venous sinus.

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Definitions:

Neonate

A newborn baby, especially one less than four weeks old.

Blue Tint

A coloration that suggests the presence of blue shades, possibly due to lighting, reflection, or the intrinsic color of an object.

Endocrine System

The collection of glands that produce hormones, regulating processes like growth, metabolism, and reproduction.

Overall Decline

A general decrease or deterioration in condition, quality, or level over time.