FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Do not give answer in imagearrow_forwardWages and salaries Jake's Roof Repair provided the following data concerning its costs: Cost per Repair-Hour $ 15.00 Fixed Cost per Month $ 21,100 Parts and supplies $ 7.40 Equipment depreciation $ 2,750 $ 0.55 Truck operating expenses $ 5,730 $ 1.70. Rent $ 4,690 Administrative expenses $ 3,850 $ 0.70 For example, wages and salaries should be $21,100 plus $15.00 per repair-hour. The company expected to work 2,600 repair-hours in May but actually worked 2,500 repair-hours. The company expects its sales to be $47.00 per repair-hour. Required: Compute the company's activity variances for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Required: Compute the company's activity variances for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all…arrow_forwardThe receiving department of a firm performs 12,000 hours of uploading work and costs $60,000 per year. What is the activity rate for the receiving department? a.$4.50 per hour b.$14 per hour c.$4 per hour d.$5 per hour e.Cannot be determined from this information.arrow_forward
- Wyckam Manufacturing Incorporated has provided the following estimates concerning its manufacturing costs: Cost per Machine- Hour $ 4.25 Direct materials Direct labor Supplies Utilities Depreciation Insurance Fixed Cost per Month $ 36,800 $ 1,400 $ 16,700 $ 12,700 For example, utilities should be $1,400 per month plus $0.05 per machine-hour. The company expects to work 5,000 machine-hours in June. Note that the company's direct labor is a fixed cost. Required: Prepare the company's planning budget for June. Wyckam Manufacturing Incorporated Planning Budget for Manufacturing Costs For the Month Ended June 30 Budgeted machine-hours Direct materials Direct labor Supplies Utilities Depreciation Insurance Total manufacturing cost $ 0.30 $ 0.05 $ $ 36,000 16,000 1,500 1,650 16,700 1,200 73,050arrow_forwardThe following table provides data concerning a company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.40 Electricity $ 1,400 $ 0.08 Maintenance $ 0.15 Wages and salaries $ 4,900 $ 0.30 Depreciation $ 8,400 Rent $ 1,800 Administrative expenses $ 1,400 $ 0.04 For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.10 per car washed. Prepare the company’s planning budget for August. Budgeted Cars Washed Revenue Expenses: Cleaning Supplies Electricity Maintenance Wages and Salaries Depreciation Rent Administrative Expenses Total Expenses Net Operating Income $arrow_forwardPlease help mearrow_forward
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