ABC Tours is organizing a 7 day trip to Toronto. For this particular five-day trip, it will cost the ABC Tours the following: S1,500/day $5,00 (brochure and newspapers) $5.00 (4 breakfasts) $20.00 (5 dinners) $120.00 (4 nights) $25.00 (per event for a total of 7 events) $1,000 Miscellaneous variable costs Bus and driver Marketing Meals per person/day Hotel rooms (night) Events/attractions Other fixed costs $100 (per person) Price per client $1,700 Travel guide S500/day Questions With the above information, calculate the following: 1. Total fixed costs
Q: Required information The following data is provided for a PPP project. To the People To the Governme...
A: Modified B/C ratio= PW(Annual Benefits)-PW( Annual Disbenefits)-PW of (Cost recurring in 3 years)/In...
Q: (Assume If credit terms of "2/10, net 40" are offered, the approximate cost of not taking the discou...
A: 2/10 net 30 means 2% discount will be there if payment is made with in 10 days and no discount after...
Q: Current Attempt in Progress At January 1, 2022, Bonita Industries reported Retained Earnings of $308...
A: Opening balance of retained earnings = $308,000 Net loss = $66,000 Dividend = $44,000 Closing balanc...
Q: Concord Cole Inc. acquired the following assets in January of 2018. Equipment, estimated service l...
A: Journal entry is a process of recording and classifying business transactions into books of accounts...
Q: Activity Cost Activity Base Procurement $370,000 Number of purchase orders Scheduling Materials hand...
A: Formula: Activity rate for the scheduling activity cost = Scheduling activity cost / Number of produ...
Q: IBM purchased computer chips from Toshiba, a Japanese electronics concern, and was billed ¥250 milli...
A: Given details: IBM has ¥250 million payable in 3 months from now Current spot rate is 1$ = ¥105 3 mo...
Q: Sugary Company has the policy of valuing inventory at the lower of cost and net realizable value usi...
A: Inventory is one of the important current asset for the business. Mostly business prefer for valuati...
Q: E4.13 (LO 3), AN Keenan Company has an inexperienced accountant. During the first 2 weeks on the job...
A: Journal entry: A Journal entry is used to record a business transaction in the accounting records of...
Q: hing reported the following: Inventory Purchases from Corgan $170,000 190,000
A: The computation is given as,
Q: Problem 6-3B Record transactions and prepare a partial income statement usim system (LO6-2, 6-5) (Th...
A: An income statement shows a company's income, expenses and profitability over a period of time C...
Q: 10.In periods of rising prices (inflation), the use of which of the following inventory cost flow me...
A: Under first in first out method, the goods which are brought into the inventory first are sold first...
Q: QUESTION 23 For 2021, Forrway Corporation, an Accrual Basis calendar year corporation, had Net incom...
A: Solution Net Income Refer to the amount an individual or business makes after deducting costs, allow...
Q: Imagine
A:
Q: Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate bas b...
A: Solution Formula used Plant wide predetermined overhead rate =estimated overhead cost /es...
Q: Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement...
A: Cash flow statement provided information about the cash inflows and cash outflows of the company. Ca...
Q: Avocado Company regularly buys merchandise from Ukraine Company and is allowed trade discounts of 15...
A: Note: Under FOB destination freight is the seller's expense but under FOB shipping point, freight is...
Q: Employee Filing Status No. of Withholding Allowances Gross Wage or Salary Percentage Method Wage...
A: Solution A Wage is compensation paid to employees for work for a company during a period of time.
Q: At the end of 202
A:
Q: Tveslor Elliot buys shares of stock A for $10,000, while investor Michael takes a short -osition in ...
A: Solution Note : As per Q&A guideline we are required to answer first question only . Please repo...
Q: 7. Atheena, controller for the Malabon plant of Zalucki, Inc., wanted to determine the cost behavior...
A: In Cost Accounting, the high-low method is a technique used to split mixed costs into Variable cost...
Q: Jia Inc. sold some of its trademarks. The trademarks had an unlimited useful life and a cost of $10,...
A: Statement of financial position is prepared by every business to see the position of business in fin...
Q: 5. Pong Incorporated's income statement for the most recent month is given below. Total $150,000 60,...
A: Net Operating Income: Net operating income (NOI) decides an element's or alternately property's inco...
Q: If there is inflation how does this affect LIFO reserves? Does it increase or decrease it?
A: LIFO Last-in-first out is a method used to issue material. It is a method of pricing the issues of ...
Q: Your review of Mine Company's inventory and related records for the year revealed the following info...
A: Opening inventory (O) = 450000 Purchases (P) = 3150000 Sales = 4200000 Gross profit ratio = 30% Inve...
Q: Adjusting journal entry December 31 2021: Dr. Insurance Expense 24000 Cr. Pre-Paid Insur...
A: Opening balance of prepaid insurance = 1500 Purchase of prepaid insurance = 30000 Consumption of pre...
Q: Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, In...
A: A consolidated financial financial statement that includes all of the divisions or subsidiaries of a...
Q: 20.Pomelo Company has the policy of valuing inventory at the lower of cost and net realizable value ...
A: Inventory is one of the important current asset for the business. Mostly business prefer to use lowe...
Q: Fact pattern: one-fourth represents secured and priority daims. 1. The "net free assets" are P75. on...
A: Given details: Total assets = P200 The assets are expected to be realized at an average of 75% of th...
Q: hotel corporation is preparing its end of year financial statements. Management has informed the acc...
A: Solution Fact of the case A hotel corporation is preparing its end of year financial statements Mana...
Q: Comprehend and Apply the elements of costing to the process environment.
A: Process Costing is used for industries involving continuous production of goods having same identifi...
Q: Nayvicky Company is making plans for the introduction of a new product, which has a target selling p...
A: Given: Fixed overhead cost P200,000 Variable overhead cost per unit = P10 Labour hours calculation...
Q: CASE 4-29 Variable and Absorption Costing Unit Product Costs and Income Statements LO4-1, L04-2 O'Br...
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
Q: Katie must decide which one of the following initiatives she will pursue. Each of the projects will ...
A: In risk management, probability distributions could be frequently used to assess the likelihood. It ...
Q: On January 1, 2020, Trisha Company received P1,077,200 for 12% bonds with face amount of P1,000,000....
A: Bond is borrowing security issued by the company to raise funds from the market by making an agreeme...
Q: Azure laptops has a manufacturing plant operating at full capacity has the sales of 3,000,000 for th...
A: Lets understand the basics. Financial leverage company EBIT with the EBT of the entity. Formula = EB...
Q: Items 8 – 10 are based on the following information Traders, Inc. uses accrual accounting. Its balan...
A: The budgets are prepared to estimate the requirements for the future period.
Q: Sandy Company owns 15,000 of the 100,000 ordinary shares of X Corporation. The investment is account...
A: Answer: If she opted to receive cash instead of share dividend, then she will receive deividend @ P2...
Q: A concrete pavement on a street would cost 10000 and would last for 5 years with a negligible repair...
A: solution given Initial cost 10000 Annual repair cost 1000 Life 5 years Interes...
Q: CASE 2-32 Break-Even Analysis for Individual Products in a Multiproduct Company LO2-5, LO2-9 Cheryl ...
A: Overall Break-even point (in dollar sales)=Totak Fixed CostOverall Contribution Margin
Q: The Cash account balance of Kingbird, Inc. at July 1 is $570. The total of the debit entries to the ...
A: Debit to cash account means an increase in cash balance whereas credit to cash account decrease in c...
Q: BBM Company lost most of its inventory in a fire in December, 2021, just before the year-end physica...
A: Gross profit ratio = Gross profit / Sales where, Gross profit = Sales - Cost of goods sold
Q: Assume that if Sunland Water accepts Clifton’s offer, the company can use the freed-up manufacturing...
A: Relevant cost appears to be a management accounting term that alludes to avoidable expenses that exi...
Q: April Manufacturing costs* $156,800 $195,200 $217,600 May June Insurance expense** 1,000 1,000 1,000...
A: Formula Used: Manufacturing costs = Total manufacturing cost x ( 3 / 4 belongs to current month )
Q: Instructions: Whittier Company plans to sell 1,000 mowers at $400 each in the coming year. Total var...
A: Solution.. Sales price per unit = $400 Variable cost per unit = $325 Fixed cost = $45,000 Con...
Q: P21.2 (LO 2, 4) (Lessee Entries and Statement of Financial Position Presentation) On January 1, 2022...
A: Lease It is a relation among two parties i.e. lessor and the lessee, In which the lessor allows to u...
Q: A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five ...
A: January 1, 2021 Fair value of 2 years old cattle = 35 x 12,500 = 437,500 Fair value of newborn calve...
Q: The following information is available for Canadian Tire Corporation (in $ millions): 2018 2017 2016...
A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning in...
Q: Give example of personal assets
A: An asset is a resource owened by individual or business that provides p...
Q: Rental Income and
A:
Q: The October transactions were as follows. Oct. 5 Received $1,510 in cash from customers for a...
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is recor...
Trending now
This is a popular solution!
Step by step
Solved in 6 steps
- Northampton City Tours (NCT) offers personalized historical and architectural tours in a large midwestern city and the local suburbs. NCT charges $350.00 per trip to or from the airport. The variable cost for a tour totals $42.00 for fuel, driver, and so on. The monthly fixed cost for NCT is $13,860. Required: a. How many tours must NCT sell every month to break even? b. NCT's owners believe that 50 tours is a reasonable forecast of the average monthly demand. What is the margin of safety in terms of the number of tours?Consider the following tickets purchasing problem. A businessperson has a 5-week. commitment traveling between Fayetteville (FYV) and Denver (DEN). Weekly departure from Fayetteville occurs on Mondays for return on Wednesdays. A regular roundtrip ticket costs $400, but a 20% discount is granted if the roundtrip dates span a weekend. A one-way ticket in either direction costs 75% of the regular price. i In the tickets example, (a) Provide an infeasible alternative. (b) Identify a fourth feasible alternative and determine its cost.Star Symphony would like to perform for a neighbouring city. Fixed costs for the performance total $5,000. Tickets will sell for $15 per person, and an outside organization responsible for processing ticket orders charges the symphony a fee of $2 per ticket. Star Symphony expects to sell 500 tickets. How many tickets must Star Symphony sell to break even? How many tickets must the symphony sell to earn a profit of $7,000? How much must Star Symphony have in sales dollars to break even? How much must Star Symphony have in sales dollars to earn a profit of $7,000? What is the symphony’s margin of safety in units and in sales dollars?
- A concert organizer agrees to pay the owner of an auditorium 26% of the ticket sales. The organizer manages to sell 2,800 tickets at $60 each. If the organizer makes a profit of $6,600, what was the total cost of holding the concert? (Round your answer to the nearest dollar amount.) Total cost ($): Numeric Response 50,280Wyoming Waters Swim Park sells individual and family tickets. With a ticket, each person receives a meal, three beverages, and unlimited use of the swimming pools. Wyoming Waters has the following ticket prices and variable costs for the year: Individual Family Sale price per ticket $35 $105 Variable cost per ticket 25 100 Wyoming Waters expects to sell one individual ticket for every three family tickets. Wyoming Waters' total fixed costs are $25,000. Requirement 2. Calculate the total number of tickets Wyoming Waters must sell to break even. Start by selecting the formula and entering the amounts to calculate the total number of tickets Wyoming Waters must sell to break even. (Abbreviations used: Weighted avg. CM = weighted-average contribution margin. Complete all input fields. For items with a zero value, enter "0".) (Fixed costs + Target profit) ÷ Weighted-avg. CM per unit = Required sales in units ( + ) ÷ =…FunTime Cruiseline offers nightly dinner cruises departing from several cities on the east- ern coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise tickets sell for $50 per passenger. FunTime Cruiseline's variable cost of providing the dinner is $30 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $210,000 per month. The company's rel- evant range extends to 20,000 monthly passengers.
- amounts with a $0 balance, make sure to enter " 0 " in the appropriate input field.) Now compute the breakeven point in sales dollars. Enter the formula, then compute the breakeven sales. (Enter the contribution margin ratio as a whole percent. For amounts with a $0 balance, make sure to enter " 0 " in the appropriate input field.)Flow Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise tickets sell for $50 per passenger. Flow Cruiseline's variable cost of providing the dinner is $20 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $210,000 per month. The company's relevant range extends to 13,000 monthly passengers. d.Ocean Cruiseline offers nightly dinner cruises departing from several cities on the East Coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise fickets sell for $50 per passenger. Ocean Cruiseline's variable cost of providing the dinner is $20 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $210,000 per month. The company's relevant range extends to 15,000 monthly passengers. The breakeven sales are 7.000 tickets sold. a. Compute the operating leverage factor when Ocean Cruiseline sells 8,750 dinner cruises b. If volume increases by 8%, by what percentage will operating income increase? c. If volume decreases by 3%, by what percentage will operating income decrease? a. Compute the operating leverage factor when Ocean Cruiseline sells 8,750 dinner cruises. (Round your answer to one decimal place.) First, identify the formula, then compute the operating leverage factor.…
- FunTime Cruiseline offers nightly dinner cruises departing from several cities on the cu ern coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise tickets sell for $50 per passenger. FunTime Cruiseline's variable cost of providing the dinner is $30 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $210,000 per month. The company's rel- evant range extends to 20,000 monthly passengers. d. Use the contribution margin ratio to project operating income if monthly sales rev- S7-1 Compute unit contribution margin and contribution margin ratio (Learning Objective 1) Use the information from the FunTime Cruiseline Data Set to compute the following a. What is the contribution margin per passenger? b. What is the contribution margin ratio? c. Use the unit contribution margin to project operating income if monthly sales toda 17,000 passengers. enue totals $595,000.Classy Cruiseline offers nightly dinner cruises departing from several cities on the East Coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise tickets sell for $80 per passenger Classy Cruiseline's variable cost of providing the dinner is $40 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $240,000 per month. The company's relevant range extends to 15,000 monthly passengers. If Classy Cruiseline sells an additional 600 tickets, by what amount will its operating income increase (or operating loss decrease)? Came First, identify the formula, then compute the operating income increase (or operating loss decrease) Operating |A new book publishing and sales project estimates that the first year 7,000 printed units and 2,000 digital units will be sold.The printer will charge them $5 for each book.The publisher will sell the books for $12 each.The virtual books will be sold for $6 through a platform and the publisher receives $3.The authors of the books receive 5% of the sales made by the publisher, whether online or in print, which is recorded as an expense. The market study suggests that sales of printed books can increase at 20% per year and those of digital format at 30% per year.The initial equipment will be reduced, since they work with the subcontracting of printed material. Basically, they include computer equipment, software and furniture that have a value of 20,000; In addition, a vehicle will be purchased for a value of 15,000. Computer equipment, software and furniture are depreciated instraight line in 5 years. In year 6, these equipments must be bought again for the same value.The vehicle is…