Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airpoThe company's planning budget for July appears below:Flight CaféPlanning BudgetFor the Month Ended July 31Budgeted meals (q).18,000Revenue ($4.50g) ...$81,000Expenses:Raw materials ($2.40q).Wages and salaries ($5,200 + $0.30q)Utilities ($2,400+ $0.05g)Facility rent ($4,300)Insurance ($2,300) ...Miscellaneous ($680 + $0.10q)43,20010,6003,3004,3002,300...2,480Total expense66,180Net operating income$14,820n July, 17,800 meals were actually served. The company's flexible budget for this level of activiappears below:Flight CaféFlexible BudgetFor the Month Ended July 31Budgeted meals (q) .17,800Revenue ($4.50q) .$80,100Expenses:Raw materials ($2.40q)...Wages and salaries ($5,200 + $0.30q)Utilities ($2,400 + $0.05g).Facility rent ($4,300)Insurance ($2,300) ...Miscellaneous ($680 + $0.10q)42,72010,5403,2904,3002,3002,460Total expense65,610Net operating income$14,490 EXERCISE 9-9 Planning Budget LO9-1Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facilitynear Montreal. The following table provides estimates concerning the company's costs:Fixed CostCost perper Month Car Washed$0.80$0.15$0.20$0.30Cleaning supplies ...Electricity$1,200MaintenanceWages and salariesDepreciationRentAdministrative expenses.$5,000$6,000$8,000$4,000$0.10For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The companyexpects to wash 9,000 cars in August and to collect an average of $4.90 per car washed.Required:Using Exhibit 9-2 as your guide, prepare the company's planning budget for August.

A planning budget refers to the statement prepared by the management based on the estimations to…

EXERCISE 9-9 Planning Budget LO9-1 Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost Cost per per Month Car Washed $0.80 $0.15 $0.20 $0.30 Cleaning supplies ... Electricity .. $1,200 Maintenance $5,000 $6,000 $8,000 $4,000 Wages and salaries Depreciation Rent Administrative expenses. $0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. Required: Using Exhibit 9-2 as your guide, prepare the company's planning budget for August.

EXERCISE 9-9 Planning Budget LO9-1 Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost Cost per per Month Car Washed $0.80 $0.15 $0.20 $0.30 Cleaning supplies ... Electricity .. $1,200 Maintenance $5,000 $6,000 $8,000 $4,000 Wages and salaries Depreciation Rent Administrative expenses. $0.10 For example, electricity costs should be $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. Required: Using Exhibit 9-2 as your guide, prepare the company's planning budget for August.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question 6 View Policies Current Attempt in Progress Crane Company determines that 59000 pounds of direct materials are needed for production in July. There are 3700 pounds of direct materials on hand at July 1 and the desired ending inventory is 3300 pounds. If the cost per unit of direct materials is $3, what is the budgeted total cost of direct materials purchases? ort $175800 O $180600. O $178200. O $173400. ea Chp ins prt sc fho 12 home delete % 5 & 7 backspace lock T P hom G H K enter B pause t shift ctri NM N
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