You organize an 8-hour training for 5 hourly, local employees. The training is led by the manager who earns a salary of $48,000, and by an assistant manager who earns $36,000. Materials cost is $25/person and food is $20/ person. If the hourly employees make $10/ hour, what is the cost of this training event? A. $2,465 B. $1,065 C. $1,015 D. $975
Q: If Pierce is to receive a final settlement of P 180,000, how much should be the proceeds from sale…
A: If Pierce is to receive a final settlement of P 180,000, proceeds from the sale of the non-cash…
Q: On January 2, 2022, Bergify Co. entered into a 5-year lease contract for drilling equipment. Bergify…
A: Under the double-declining balance method, the depreciation is charged on the declining balance of…
Q: Hi Tutor, Can you please write some comment for revised contribution margin I mean how it came and…
A: The difference between an actual measured outcome and a basis, such as a budgeted amount, is known…
Q: Required: Compute the correct ending inventory (if any) as of April 30, 2022 using the FIFO…
A: Introduction:- FIFO means First-in-first-out It is one of the inventory valuation method. As per…
Q: Facing financial distress, partners Gary (40%), Gerry (30%), and Gina (30%) decided to liquidate the…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: 2. The estimated unit costs for CNR Inc., when it is operating at a production and sales level of…
A: Absorption Costing - In this costing method cost associated with the manufacturing of a product is…
Q: Which of the following is a compliance tool the IRS utilizes to address the tax gap? Compliance…
A: Tax gap is the amount of tax which is computed by subtracting the tax paid by the tax payer from the…
Q: The direct method as used by Ultimate Manufacturers is one method that can be used to re-assign…
A: Service department costs are the indirect costs to units produced and therefore these are known as…
Q: Calculate the machine's depreciation using the declining balance method: A company has purchases a…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: Jules Jewels, a wholesaler of designer jewellery, has provided you with the following information…
A:
Q: Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost…
A: Formula: Material price variance = (Actual price per micron - Standard price per micron) x Actual…
Q: ABC Company has an allowance for uncollectible accounts balance of P34,000 at January 1, 2020.…
A:
Q: Raymond Ryans purchased a 50-year-old flat in Melbourne on 15 September 2010 for $350,000 which he…
A:
Q: Fiona purchased 200 shares of Oxygon stock for $11 a share on August 11, 2020. On July 28, 2021, the…
A: Answer:- Capital gain meaning:- The profit earned on the sale of an asset for example, stock, bonds…
Q: A contractor has 50 men of the same capacity. They can complete the work in 30 days, the working day…
A: Total cost is the amount incurred by the company on the production process and business functions of…
Q: Tony Sanchez plans to retire and to withdraw 10 annual withdrawals that will start at P60,000 at the…
A: The initial deposit will be the sum of the present value of all the withdrawals in the future.
Q: Roots — Launch a new on-line customizable winter T-shirt to your summer customers.
A: A digital marketing agency is a business that offers a wide range of marketing services in one…
Q: Cash Accounts Receivable Inventory Long-term Assets Accounts Payable Wages Payable Long-term…
A: Introduction: Working capital: Working capital is used for short term purpose. Deduction of current…
Q: Define transfer pricing and elaborate on FOUR (4) of its purposes.
A: Transfer pricing :- When Goods are transferred from one division to another divison under same…
Q: please solve the sub-parts to be solved. thanks Ziggy Creations makes and sells a single product.…
A: The contribution margin is calculated as difference between sales and variable costs.
Q: Activity 2 Directions/Instructions: Journalize the business transactions of Coco Repair Shop and…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Calculate Cost of Goods sold from the following? Opening stock OMR 20000, Carriage outwards OMR…
A: Formula: Deduction of closing stock from Opening stock and purchases derives the cost of goods sold.…
Q: Antolini Enterprises produces men's sports coats that are sold by popular department stores. Each…
A: The answer is stated below:
Q: Supply the missing information in the following table for Vernon Company. (Do not round intermediate…
A: Ratio analysis helps to analyze the financial statements of the company. The management can take…
Q: Anyone can help me with this?
A: Requirement: In the given question the adjusting entries are asked on 31-12-2018 and accrued…
Q: Statement I. If the pattern of the repairs cannot be established and the obligation for warranty…
A:
Q: 1. What is the financial advantage (disadvantage) of further processing each of the three products…
A: The question is related Process Costing. Joint cost is that cost which is incurred in making of…
Q: You are a small business person who plans to open a premium coffee shop, much like Starbucks. Your…
A: In the context of the given question, we are going to compute the breakeven sales for a month. We…
Q: Forten Company's current year income statement, comparative balance sheets, and additional…
A: A cash flow financial statement that outlines a company's cash inflows from operations to pay…
Q: Sales Less: Cancellation Sales, net of cancellations Year of expiration for subscriptions: 2020…
A: Unearned revenue refers to the amount received in advance from the customer for which services will…
Q: jacobsville Hospital has budgeted costs of $850,000 in diagnostic imaging. The total estimated…
A: Introduction:- ABC costing means Activity based costing. It is used to allocation of manufacturing…
Q: Current Liabilities Bank loans and notes payable Current portion of non-current debt Current portion…
A: Liabilities mean the company for that the company is liable to pay. Generally, there are two types…
Q: Anson and Brian are partners, and each has a capital balance of P150,000. To gain admission to the…
A:
Q: Christine works for Marian Transport in Québec and is paid $920.25 weekly. Her employer provides…
A: Christine's Net pay: $1000.44
Q: The market capitalisation of a brand as reflected by their share price on the stock exchange is…
A: The market capitalization of a firm is the entire current value of its equity. A corporation's…
Q: Prepare Pronghorn's 2020 journal entry to record the change in accounting principle. (Credit account…
A: Pre Tax income Under % Completion Method. = $123,000 Pre Tax income Under Completion Contract…
Q: ancis, Gary, and Joel are partners who share profits and losses in the ratio of 2:3:5. The partners…
A: Liquidation means where the business of firm is closed down , assets are sold out and liabilities…
Q: Cred Company’s board of directors declared a property dividend to its incorporators in the form of…
A: Property Dividend: It is the dividend paid by company other than cash or stock dividends.
Q: On January 1, 2009, Delta Company issued its P10,000,000 face amount, 10% bonds to yield 8% per…
A: The carrying value of Bond Liability on January 1, 2009 will be the issue price of Bonds. The…
Q: Please solve in a quarter of an hour please If the independent costs of each product The Special…
A: Independent cost is the cost which is prepare by an organization independently as the sponsor of…
Q: A method of depreciation whereby the amount to recover is spread uniformly over the estimated life…
A: Depreciation refers to the reduction in the value of asset due to its normal use and tear and wear.…
Q: Happy Company grants Incredible Company first month rent-free under a 12-month lease for low-value…
A: As accrual concepts, all the expenses and liabilties should be recognized in the period in which…
Q: Prepare and upload journal entries related to the following: 1. Revaluation and accrual of interest;…
A: Journal entries related to revaluation and accrual of interest When a new partner is admitted, we…
Q: Annual depreciation on equipment at Charmed, Inc.is $2,100. The adjusting entry to record one…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Joan, Joey, and Justin share profits and losses in the ratio of 3:2:1. As of June 30, the capital…
A: Lets understand the basics. Liquidation may happen voluntarily or by compulsion. when liquidation…
Q: Cash balance per books, September 30 $5,300 Deposits in transit 510 580 Notes receivable with…
A: Reasons of preparing BRS is as follows: Unpresented Cheques Cheques issued omitted to be recorded…
Q: a. Complete an amortization schedule for a $19,000 loan to be repaid in equal installments at the…
A: The amortization schedule represents how the principal balance on the loan will be repaid over the…
Q: accrued salaries payable
A: Accrued salaries payable refers to the amount of salaries outstanding at the end of the year. It is…
Q: ERCISE 6. Journal Entries - Capital share different from capital contrib June 1, 2022, Al and Ace…
A: Partnership is the relation between two or more partners who have agreed to share profit/loss of the…
Q: ABC Company has an outstanding receivable of P1,000,000 as of December 31, 2020. A test of…
A: Formula: Net relizable value of the Account receivable = Account receivable - Allowance for…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- The desired profit margin per labor hour is $10. The material loading charge is 40% of invoice cost. Benoit estimates that 7,500 labor hours will be worked next year. Repair-technicians' wages $130,000, Fringe benefits $30,000 and overhead $20,000. If Benoit repairs a TV that takes 4 hours to repair and uses parts costing $50. Instruction: Show your computation Compute the bill for this job in Fix It Felix Shop.Woody’s Widget Shop has the following information: The average widgethas a sales price of $18; raw materials for the widget are $4; it takes30 minutes to assemble one widget; and production labor is paid $8 perhour. Operating expenses are as follows: salaries, $2,500 per week; insurance,$1,200 per quarter; rent, $3,000 per month; and utilities, $1,000 per month.a. How many widgets must be sold each month in order to break even?b. How many dollars in sales does this represent?c. What is the contribution margin for each widget sold?d. If the goal is to make $100,000 profit per month, how many widgets mustbe sold?At Aspen Trucking Company, the average driver out of its 200 driver employees travels 1,600 miles per week (50 weeks per year) and it charges customers $2.15 per mile. Aspen provides each driver a $95,000 big rig and pays the driver $0.58 per mile. It estimates that the direct cost, other than the driver, for operating a truck is $0.75 per mile. Jack, the sales manager has been working on several ways to grow the revenue of the business by 10%. Since he has had to turn away business, Jack has now decided that the best way to do that is a combination of adding drivers and equipment along with a price increase of 2.5% next year. He knows that a first time driver will only be 75% productive in his or her first year and it will cost $5,500 to recruit each one. Assuming he can get all needed drivers hired by the first working day of the year, what will Aspen’s first year approximate cash flow be from this growth initiative? Please solve with excel. Group of answer choices a. $8,500 b.…
- Dye and Dye, Attorneys-at-Law, each bill 1,500 hours per year and receive pay of $100,000 each. Four paralegals work for the firm and each receives pay of $40,000 and works 2,000 hours per year. Overhead of $396,000 is anticipated, of which $300,000 is attorney support, and the rest is paralegal support. Determine overhead under each of the following circumstances: a. A simplified cost approach is used based on hours. b. A simplified cost approach is used based on payroll dollars. c. An activity-based costing approach is used. Attorney support is based on labor costs, and paralegal support is based on hours worked.Janice Huffman has decided to start Rundle Cleaning, a residential housecleaning service company. She is able to rent cleaning equipment at a cost of $760 per month. Labor costs are expected to be $90 per house cleaned and supplies are expected to cost $6 per house. Required a. Determine the total expected cost of equipment rental and the average expected cost of equipment rental per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of equipment a fixed or a variable cost? b. Determine the total expected cost of labor and the average expected cost of labor per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of labor a fixed or a variable cost? c. Determine the total expected cost of supplies and the average expected cost of supplies per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of supplies a fixed or a variable cost? d.…Janice Huffman has decided to start Rundle Cleaning, a residential housecleaning service company. She is able to rent cleaning equipment at a cost of $760 per month. Labor costs are expected to be $90 per house cleaned and supplies are expected to cost $6 per house. Required a. Determine the total expected cost of equipment rental and the average expected cost of equipment rental per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of equipment a fixed or a variable cost? b. Determine the total expected cost of labor and the average expected cost of labor per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of labor a fixed or a variable cost? c. Determine the total expected cost of supplies and the average expected cost of supplies per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of supplies a fixed or a variable cost? d.…
- You have a lawn mowing business. You plan to work 250 hours per month and charge your customers $22 per hour. Your anticipated costs include: Advertising $25 per month Gas $1.50 per hour Depreciation on mowers $25 per month Assistant's Wages $7.00 per hour Miscellaneous Expenses $50 per month You plan on paying 60% of your monthly costs in the month incurred, 30% in the second month and the remainder in the following month. Calculate the amount of cash payments for operating activities in your second month of business.National Investor Group is opening an office in Portland, Oregon. Fixed monthly costs are office rent ($8,10), utilities ($2,000), special telephone lines ($1,500), a connection with an online brokerage service ($2,500), and the salary of a finanical planner ($5,200). Variable costs include payments to the financial planner (9% of revenue), advertising (11% of revenue), supplies and postage (4% of revenue), and usage fees for the telephone lines and computerized brokerage service (6% of revenue). REQUIREMENTS :Use the contribution margin ratio approach to compute National's breakeven revenue in dollars. If the average trade leads to $1,000 in revenue for National, how manhy trades must be made to break even? :Use the equation approach to compute the dollar revenues needed to earn a monthly target profit of $12,600. :Graph national's CVP relationships. Assume that an average trade leads to $1,000 in revenue for National. Show the breakeven point, the sales revenue line, the fixed cost…The following information relates to labor for Sandhill Appliance Repair Shop. Repair-technicians' wages Fringe benefits Overhead $133,400 58,000 Total cost 87,000 The desired profit margin per hour is $22. The material loading charge is 60% of invoice cost. Sandhill estimates that 5,800 labor hours will be worked next year. If Sandhill repairs a dishwasher that takes 1.2 hours to repair and uses parts that cost $90, compute the bill for the job. SUPPORT
- You have a lawn mowing business. You plan to work 300 hours per month and charge your customers $23 per hour. Your anticipated costs include: Advertising $30 per month Gas $1.20 per hour $25 per month $9.00 per hour $20 per month Depreciation on mowers Assistant's Wages Miscellaneous Expenses You plan on paying 60% of your monthly costs in the month incurred, 30% in the second month and the remainder in the following month. Calculate the amount of cash payments for operating activities in your second month of business.Giselle Rodriguez owns Rodriguez Art Studio in Havana, Cuba. It has fixed overhead costs of $3,000 per month. The variable cost is $5 and the price is $20, per person per art lesson. There are typically 500 customers each month. What is the total cost/total revenue at the break even output? Options: - $3,000 - $4,000 - $7,000 - $5,000ChimneySweep provides cleaning services for residential chimneys and fireplaces. The cleaning service requires $35 in variable costs for cleaning materials. The fixed costs of labor, the company’s truck, and administrative support are $165,000 per year. ChimneySweep averages 100 service calls per month. What is the average cost per cleaning service call? Round your answer to 2 decimal places.