/1 View Policies Current Attempt in Progress port Presented below are data relating to labor for Verde Appliance Repair Shop. Repair-technicians' wages $132,600 40,800 Fringe benefits 66,300 Overhead The desired profit margin per hour is $23. The material loading charge is 60% of invoice cost. Verde estimates that 5,100 labor hours will be worked next year. If Verde repairs a dishwasher that takes 1.5 hours to repair and uses parts of $60, compute the bill for the job. Total cost 8:50 PM 4 ) 11/18/2019 hp Su prt sc delete home end pg up
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- Jean and Tom Perritz own and manage Happy Home Helpers. Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Next year, HHH expects to purchase 25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: There is no work-in-process inventory and no finished goods inventory; in other words, a cleaning is started and completed on the same day. Required: 1. Prepare a statement of cost of services sold in good form. 2. How does this cost of services sold statement differ from the cost of goods sold statement for a manufacturing firm?Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Next year, HHH expects to purchase 25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: There is no work-in-process inventory; in other words, a cleaning is started and completed on the same day. Required: 1. Prepare a statement of services produced in good form. 2. What if HHH planned to purchase 30,000 of direct materials? Assume there would be no change in beginning and ending inventories of materials. Explain which line items on the statement of services produced would be affected and how (increase or decrease).Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Next year, HHH expects to purchase 25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: There is no work-in-process inventory and no finished goods inventory; in other words, a cleaning is started and completed on the same day. HHH expects to sell 15,000 cleanings at a price of 45 each next year. Total selling expense is projected at 22,000, and total administrative expense is projected at 53,000. Required: 1. Prepare an income statement in good form. 2. What if Jean and Tom increased the price to 50 per cleaning and no other information was affected? Explain which line items in the income statement would be affected and how.
- Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each cleaning (cleaning one house one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Required: 1. Calculate the prime cost per cleaning. 2. Calculate the conversion cost per cleaning. 3. Calculate the total variable cost per cleaning. 4. Calculate the total service cost per cleaning. 5. What if rent on the office that Jean and Tom use to run HHH increased by 1,500? Explain the impact on the following: a. Prime cost per cleaning b. Conversion cost per cleaning c. Total variable cost per cleaning d. Total service cost per cleaningOlin Company manufactures and distributes carpentry tools. Production of the tools is in the mature portion of the product life cycle. Olin has a sales force of 20. Salespeople are paid a commission of 7 percent of sales, plus expenses of 35 per day for days spent on the road away from home, plus 0.50 per mile. They deliver products in addition to making the sales, and each salesperson is required to own a truck suitable for making deliveries. For the coming quarter, Olin estimates the following: On average, a salesperson travels 6,000 miles per quarter and spends 38 days on the road. The fixed marketing and administrative expenses total 400,000 per quarter. Required: 1. Prepare an income statement for Olin Company for the next quarter. 2. Suppose that a large hardware chain, MegaHardware, Inc., wants Olin Company to produce its new SuperTool line. This would require Olin Company to sell 80 percent of total output to the chain. The tools will be imprinted with the SuperTool brand, requiring Olin to purchase new equipment, use somewhat different materials, and reconfigure the production line. Olins industrial engineers estimate that cost of goods sold for the SuperTool line would increase by 15 percent. No sales commission would be incurred, and MegaHardware would link Olin to its EDI system. This would require an annual cost of 100,000 on the part of Olin. MegaHardware would pay shipping. As a result, the sales force would shrink by 80 percent. Should Olin accept MegaHardwares offer? Support your answer with appropriate calculations.Patterson Corporation expects to incur 70,000 of factory overhead and 60,000 of general and administrative costs next year. Direct labor costs at 5 per hour are expected to total 50,000. If factory overhead is to be applied per direct labor hour, how much overhead will be applied to a job incurring 20 hours of direct labor? a. 120 b. 260 c. 28 d. 140
- The following data is available for Sheridan Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $410000 90000 $122. $140. $152. $112. 60000 $560000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. Sheridan' labor charge per hour in 2022 would beThe following data is available for Vaughn Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $380000 70000 60000 $510000 The desired profit margin is $34 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. Vaughn' labor charge per hour in 2022 would be $102. $110. $124. $136.Presented below are data for an electrical repair shop for next year. Time charge Material loading charge Wages 140,000 Fringe benefits 60,000 Overhead 100,000 The rate charge per hour of labor is $70. The material loading charge is 40% of invoice cost of parts and materials. The shop estimates that 10,000 labor hours will be worked next year and the invoice cost of expected parts and materials was 2,000,000. $250,000 100,000 50,000 1. Calculate the desired profit margin per hour of labor 2. If the shop repairs a TV that takes 2.5 hours to repair and uses parts of $200, compute the bill for this job -
- The following data related to labor is available for Sunland Repair Shop for 2019: Repair technicians’ wages $280000 Fringe benefits 80000 Overhead 60000 Total $420000 The desired profit margin is $44 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.Sunland’ labor charge per hour in 2019 would be $116. $100. $128. $84.The following data is available for Coronado Repair Shop for 2019: Repair technicians’ wages $400000 Fringe benefits 70000 Overhead 50000 Total $520000 The desired profit margin is $46 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2019.In January 2019, Coronado repairs a bicycle that uses parts of $220. Its material loading charge on this repair would be $132. $88. $150. $284.Below are data for Rent a Wash for next year. Car Detailers' 54,000,000 Wages Fringe Benefit 2,700,000 Overhead 2,000,000 Rent a Wash desires a profit margin 50% per labor hour. The material loading charge is 25% of invoice cost. Rent a Wash estimates that 10,000 labor hours will be worked next year. If Rent a Wash takes 5 hours for car detailing and uses special soap costing Rp75,000 what is the bill for the job?