Michael Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base salary of $1,330 per month. One of t barbers serves as the manager and receives an extra $535 per month. In addition to the base salary, each barber also receives a commission of $5.90 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines $290 per month $910 per month $0.40 per haircut $175 $20 per month per month plus $0.20 per haircut Michael currently charges $13.00 per haircut.
Q: 1-a. Journalize the December transactions. Do not record adjusting entries at this point. 1-b.…
A: The depreciation is calculated by dividing $201600 by 8 and further dividing the result by 12 to…
Q: On January 1, Boston Enterprises issues bonds that have a $1,750,000 par value, mature in 20 years,…
A: Bonds payable refers to a type of long-term debt that a company or organization issues to borrow…
Q: Warner Company's year-end unadjusted trial balance shows accounts receivable of $106,000, allowance…
A: The allowance for doubtful accounts is created to record estimated bad debt expense for the period.…
Q: Standard Quantities and Costs: DM (.25 ft per unit at $10 per foot) = $2.50 DL (.5 hour per unit at…
A: Variance analysis is an important tool for management to understand the performance of the business…
Q: Brockney Incorporated bases its manufacturing overhead budget on budgeted direct labor-hours. The…
A: The overhead is applied to the production on the basis of predetermined overhead rate. The…
Q: Divisions A and B of Denner Company reported the following results for October: Division A…
A: MARGINAL COSTING INCOME STATEMENT Marginal Costing Income Statement is One of the Important Cost…
Q: Afarian Corporation issued $500,000 of 6%, 10-year bonds payable on January 1, 2022. The market…
A: Here, Particulars Values Face value of the bond (FV) $ 5,00,000 Coupon rate 6.00% Time to…
Q: Bed & Bath, a retailing company, has two departments-Hardware and Linens. The company's most recent…
A: Whenever organization to choose between whether to continue operation or close the operation of any…
Q: If there is no preferred stock, the return on common equity for 20X2 is (rounded): Multiple Choice…
A: Return on common equity indicates the percentage earn by the business on its total common equity.
Q: Kim works for a clothing manufacturer as a dress designer. During 2022, she travels to New York City…
A: Particulars Amount Airfare $800 Lodging (8 nights) $1,040 Meals at local restaurants (8…
Q: ired information following information applies to the questions displayed below.] stockholders'…
A: Balance sheet is one of financial statements, it is prepared at the end of accounting period.…
Q: Direct labor cost budget Quetzaltenango Candle Inc. budgeted production of 57,000 candles for March.…
A: Budget means the expected value of future. Budget will be compared with actual value and variance is…
Q: The income statement for the year ended November 30, 2019, LeBlue Corp. contains the following…
A: Cash Flow Statement - The Statement of Cash Flow is a financial statement that includes the inflow…
Q: 250 words What is your definition of the term "independence" as applied to the CPA's function of…
A: Answer:- Auditing meaning:- Auditing is the independent examination of the financial statement of…
Q: Wildhorse Company has the following data for the weekly payroll ending January 31. Employee M T L.…
A: The journal entry is very important because it is used to record the transaction of an entity in its…
Q: D Question 7 Towned a warehouse with a $300,000 basis. The warehouse is destroyed by fire, and he…
A: Whenever any asset is lost/destroyed, and compensation will be given by the insurance company, and…
Q: 3. Assume you are a sales manager preparing to develop and implement a customer feedback system. How…
A: A customer feedback system is a procedure used by organisations to gather and examine client input…
Q: On 4 June 20X1, a company sold $14,000 worth of goods, with a product cost of $9.000. The contract…
A: Journal Entry - Journal entry is the recording of business transaction in books of account, this is…
Q: Where does the -$40 dividend payment come from?
A: Cash flow statement is one of financial statements, which is prepared at the end of accounting…
Q: Calculate the interest component of pension expense only under ASPE and under IFRS.
A: The question provides information about ACME Incorporated's defined benefit pension plan, including…
Q: Ellery Products manufactures various components for the fashion industry. Ellery buys fabric from…
A: Management accounting deals with various parts of financial information related to the cost and…
Q: Following the net operating loss offset tax rules, the company appropriately applies the net…
A: This question presents a scenario where a company has a net operating loss in one year and a taxable…
Q: Compute the ending inventory for Blue Company for 2022 through 2027 using the dollar-value LIFO…
A: LIFO method of inventory valuation known as last-in-first-out method is one of the methods used in…
Q: JAMIA 1) A corporation's board of directors declares a 15:1 common share stock split. Currently,…
A: Stock split is the situation in which one share of the company is being split into multiple number…
Q: iscount. They had a 20-year term, a stated rate of interest of 7% and an effective rate of interest…
A: Face value = $61,000 Issue price = $61,000*96% = $58,560 Cash interest paid per annum = $61,000*7% =…
Q: Bonita Industries is considering the replacement of a piece of equipment with a newer model. The…
A: This problem is relates to short run decision making in relation with whether to continue with old…
Q: ACME Incorporated budgeted production for the fourth quarter of 2023 as follows: Month Production in…
A: Raw material purchase budget :— This budget is prepared to estimate the number and cost material to…
Q: Questions 1-45 are based on the following information for Tournesol Inc. (Cash flow statement and…
A: Quick Ratio=(Cash and Cash equivalents + Trade receivables) / Current liabilities Inventory…
Q: 2) A corporation's board of directors declares a 8:1 common share stock split. Currently, total…
A: STATEMENT OF SHAREHOLDERS EQUITY Statement of Shareholders Equity is also Known as Changes in…
Q: Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,000…
A: Budgeted total factory overhead is calculated by adding budgeted variable overhead with the fixed…
Q: Cherboneau Novelties produces drink coasters (among many other products). During the current year…
A: In the field of accounting, budgeting is the act of preparing a financial plan for a predetermined…
Q: On June 30, 2021, the market interest rate is 5%. Team Corporation issues $600,000 of 10%, 25-year…
A: Bonds are the securities which are issued by the entity for the purpose of raising funds from the…
Q: ck for $18.85. The company is expected to pay a dividend o you need if you expect to sell the share…
A: Initial purchase of stock P0 = $18.85 per share Expected dividend after one year D1 = $0.71 per…
Q: Montclair Company is considering a project that will require a $520,000 loan. It presently has total…
A: Assets have debit balance while liabilities and equity have credit balance. As per dual concept of…
Q: b. What is Poe's after-tax cost of providing the auto allowance?
A: To calculate Poe Corporation's after-tax cost of providing the auto allowance to Nicole, we need to…
Q: The entry to close C. Finley, Drawing would be a. debit C. Finley, Drawing. $3,000: credit C.…
A: Closing entries are the types of entries made at the end of the accounting period for the purpose of…
Q: worth $10 million in 2022. Middle of the year the company purchased car costing $3 million by cash…
A: Needs to prepare the balance sheet as per historical cost and current model Balance sheet is the…
Q: The stockholders' equity section of Blossom Inc. at the beginning of the current year appears below.…
A: All transactions for an organization are documented in journal entries. If a journal entry is…
Q: Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two…
A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…
Q: If the owner's equity is $135,000 and total liabilities are $90,000, then total assets would be OA.…
A: The accounting equation is one of the important formulas in accounting. In other words, it proves…
Q: Required information Use the following information for the Quick Study below. (Algo) [The following…
A: The residual income is the amount of money that has been left into the business after all the…
Q: Lighthouse Corporation's accumulated depreciation—equipment account increased by $8,800 while $5,700…
A: Cash flow from operating activities can be computed by direct method or indirect method. Under…
Q: Macon Mills is a division of Bolin Products, Inc. During the most recent year, Macon had a net…
A: ROI: ROI is stands for Return on investment.It is used to analyze the profit on the investment of…
Q: Gamma makes two models, Standard and Premium. Weekly demand is estimated to be 100 units of the…
A: Key factor - Whenever the resources are available in a limited quantity the production decision must…
Q: Croftsman Company recorded the following information for its main product: Selling price per unit…
A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…
Q: Questions 1-45 are based on the following information for Tournesol Inc. (Cash flow statement and…
A: Cash Flow Statement - Statement of Cash Flow is a financial statement that includes proceeds and…
Q: Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W)…
A: Introduction:- This question involves the analysis of financial statements of Thomas Railroad…
Q: eonesio Corporation makes a product that uses a material with the following standards: Standard…
A: Direct material cost is the cost of raw material produced or purchased for producing the final…
Q: Ottoson Fencing Inc. uses job order costing. The following data summarize the operations related to…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Crimpson Company has invested $2,100,000 in a plant to make commercial juicer machines. The target…
A: We know that rate of return is the profit or loss made on the investment. In most cases it is…
Please do not give solution in image format thanku
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Vin Diesel owns the Fredonia Barber Shop. He employs four barbers and pays each a base rate of $1,250 per month. One of the barbers serves as the manager and receives an extra $500 per month. In addition to the base rate, each barber also receives a commission of $4.50 per haircut.Other costs are as follows.Advertising $200permonth Rent $1,100permonth Barber supplies $0.30 per haircut Utilities $175 per month plus $0.20 per haircut Magazines $25 per monthVin currently charges $10 per haircut.Instructions(a) Determine the variable costs per haircut and the total monthly fixed costs. (b) Compute the break-even point in units and dollars. (c) Prepare a CVP graph, assuming a maximum of 1,800 haircuts in a month. Use incre-ments of 300 haircuts on the horizontal axis and $3,000 on the vertical axis. (d) Determine net income, assuming 1,600 haircuts are given in a month.Matthew Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base salary of $1,490 per month. One of the barbers serves as the manager and receives an extra $600 per month. In addition to the base salary, each barber also receives a commission of $10.40 per haircut. Other costs are as follows. Advertising $ 220 per month Rent $950 per month Barber supplies $0.50 per haircut Utilities $195 per month plus $0.10 per haircut Magazines $30 per month Matthew currently charges $20.00 per haircut.mpute the break-even point in sales units and in sales dollars. Break - even point haircuts Break-even point sales Break-even point Compute the break-even point in sales units and in sales dollars. Break-even point sales $ 3 Tauthooke sød Madis c haircutsSunland Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base rate of $1,440 per month. One of the barbers serves as the manager and receives an extra $520 per month. In addition to the base rate, each barber also receives a commission of $9.15 per haircut.Other costs are as follows. Advertising $240 per month Rent $1,100 per month Barber supplies $0.35 per haircut Utilities $185 per month plus $0.10 per haircut Magazines $35 per month Sunland currently charges $16 per haircut. Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total variable cost per haircut $enter a dollar amount rounded to 2 decimal places Total fixed $enter a dollar amount Compute the break-even point in units and dollars. Break-even point enter the Break-even point in units haircuts Break even sales $enter the Break-even…
- Jason Diesel owns the Fredonia Barber Shop. He employs 6 barbers and pays each a base salary of $1,480 per month. One of the barbers serves as the manager and receives an extra $600 per month. In addition to the base salary, each barber also receives a commission of $10.55 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines $260 per month $1,010 per month $0.30 per haircut $160 per month plus $0.15 per haircut $25 per month Jason currently charges $20.00 per haircut.Kevin Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base salary of $1,440 per month. One of the barbers serves as the manager and receives an extra $565 per month. In addition to the base salary, each barber also receives a commission of $8.50 per haircut. Other costs are as follows. Advertising $250 per month Rent $1,100 per month Barber supplies $0.35 per haircut Utilities $150 per month plus $0.15 per haircut Magazines $35 per month Kevin currently charges $15.00 per haircut.Kevin Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base salary of $1,440 per month. One of the barbers serves as the manager and receives an extra $565 per month. In addition to the base salary, each barber also receives a commission of $8.50 per haircut. Other costs are as follows. Advertising $250 per month Rent $1,100 per month Barber supplies $0.35 per haircut Utilities $150 per month plus $0.15 per haircut Magazines $35 per month Kevin currently charges $15.00 per haircut. (a) Determine the unit variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total variable cost per haircut Total fixed costs $
- Sandhill Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base rate of $1,430 per month. One of the barbers serves as the manager and receives an extra $600 per month, In addition to the base rate, each barber also receives a commission of $6.00 per haircut Other costs are as follows. Advertising $260 per month Rent $1.000 per month Barber supplies $0.50 per haircut Utilities $150 per month plus $0.10 per haircut Magazines $20 per month Sandhill currently charges $12 per haircut.Vin Diesel owns the Ayayai Barber Shop. He employs 6 barbers and pays each a base rate of $1,330 per month. One of the barbers serves as the manager and receives an extra $540 per month. In addition to the base rate, each barber also receives a commission of $4.50 per haircut. Other costs are as follows. Advertising $250 per month Rent $930 per month Barber supplies $0.30 per haircut Utilities $180 per month plus $0.20 per haircut Magazines $20 per month Vin currently charges $10.00 per haircut. Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total variable cost per haircut 2$ Total fixed Compute the break-even point in units and dollars. (Round answers to 0 decimal places, e.g. 1,225.) Break-even point in units haircuts Break-even point in dollars 24Mark Diesel owns the Fredonia Barber Shop. He employs 7 barbers and pays each a base salary of $1,200 per month. One of the barbers serves as the manager and receives an extra $560 per month. In addition to the base salary, each barber also receives a commission of $6.10 per haircut.Other costs are as follows. Advertising $270 per month Rent $970 per month Barber supplies $0.40 per haircut Utilities $175 per month plus $0.10 per haircut Magazines $20 per month Mark currently charges $12.00 per haircut. Determine the unit variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total unit variable cost per haircut $enter total variable cost per haircut rounded to 2 decimal places in dollars Total fixed costs $enter total fixed cost in dollars
- Sheridan Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base rate of $ 1,570 per month. One of the barbers serves as the manager and receives an extra $ 500 per month. In addition to the base rate, each barber also receives a commission of $ 9.05 per haircut. Other costs are as follows. Advertising $ 270 per month Rent $ 1,060 per month Barber supplies $0.45 per haircut Utilities $ 195 per month plus $ 0.10 per haircut Magazines $ 15 per month Sheridan currently charges $ 16 per haircut. Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Total variable cost per haircut 2$ 9.6 Total fixed 24 8320 eTextbook and Media Compute the break-even point in units and dollars. Break-even point haircuts Break even sales 2$ eTextbook and Media Determine net income, assuming 1,590 haircuts are given in a month. Net income / (Loss) $William Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base salary of $1,510 per month. One of the barbers serves as the manager and receives an extra $580 per month. In addition to the base salary, each barber also receives a commission of $8.40 per haircut. Other costs are as follows. Advertising Rent Barber supplies Utilities Magazines William currently charges $18.00 per haircut. (a) Determine the unit variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.) Your answer is correct.. Total unit variable cost per haircut Total fixed costs (b) $300 per month $1,020 per month $0.45 per haircut $150 per month plus $0.15 per haircut $30 per month eTextbook and Media (d) V Your answer is correct. Break-even point Break-even point sales $ Compute the break-even point in sales units and in sales dollars. eTextbook and Media Your answer is incorrect. $ Net income $ $ 1070 19260 9 9630 haircuts Determine…Crane Diesel owns the Fredonia Barber Shop. He employs 7 barbers and pays each a base rate of $1,310 per month. One of the barbers serves as the manager and receives an extra $560 per month. In addition to the base rate, each barber also receives a commission of$5.85 per haircut. Other costs are as follows. Advertising $300 per month Rent $950 per month Barber supplies $0.50 per haircut $170 per month plus $0.15 per haircut $30 per month Utilities Magazines Crane currently charges $13 per haircut. Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, eg. 2.25) Total variable cost per haircut Total fixed Compute the break-even point in units and dollars. Break-even point haircuts Break even seles