You went online and researched grooming prices in your area. Based on your review, you have decided to charge $70 for each grooming. Provide break even analysis for 3 years Fixed Costs Salaries Rent and utilities Advertising Equipment $150,000 $36,000 $10,000 $20,000 Variable Cost per Dog Shampoo Coat conditioner Pet cologne Dog treats Hair ribbons $2.00 $1.50 $0.75 $1.25 $0.50
Q: After their first child was born, Jack and Jill started thinking about a college fund. How much…
A: Present value (PV) is the current value of a future sum of money for a given specified rate of…
Q: Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning…
A: Process Costing A kind of costing method that applies by those manufacturing firms engaging in the…
Q: Keomuangtai Corporation produces and sells a single product. The company has provided its…
A: Cost volume profit analysis is the technique used by management for decision-making. The methods…
Q: Show Me How I of Upe Issuing Bonds at a Premium On the first day of the fiscal year, a company…
A: A bond issuance premium is produced when a bond is issued for a sum that is more than its principle.…
Q: withholding
A: Tax indexing is actually the adjustment of different rates of taxation in response to inflation to…
Q: For each of the following situations involving annuities, solve for the unknown. Assume that…
A: The term "present value" describes the current worth of a sum that is derived by discounting the…
Q: Mahaley, Incorporated, manufactures and sells two products: Product Q9 and Product FO. Data…
A: Activity-Based-Costing is allocating indirect costs with respect to their activity cost driver. It…
Q: The Waterway Company issued $300,000 of 8 % bonds on January 1, 2020. The bonds are due January 1,…
A:
Q: The cost of ending work in process inventory in the first processing department according to the…
A: Equivalent units are computed when there in beginning and ending work in progress Inventory can be…
Q: TA PROVIDED The pre-adjustment trial balance of Wing-It (Pty) Ltd as at 31 August 2022 is presented:…
A: Statement of Comprehensive Income - A commercial enterprise's net equity change over a specific time…
Q: Question 7 Which 4 transaction types can be made into recurring templates? Transfer Deposit Bill…
A: Recurring transactions are those transactions where one can setup transactions to record…
Q: Which of the following statements regarding the statement of cash flows is false?
A: A cash flow statement is an important tool used to manage finances by tracking the cash flow for an…
Q: Remmel Corporation has provided the following contribution format income statement. Assume that the…
A: Cost volume profit analysis is the technique used by management for decision-making. The methods…
Q: Which feature in QuickBooks Online reports allows you to customize section titles on certain…
A: QuickBooks is defined as the type of accounting software that provides cloud based applications…
Q: Bridgeport Company uses a flexible budget for manufacturing overhead based on direct labor hours.…
A: Fixed cost will remain constant. It will not change even if their is an change in production.
Q: Vattes, Incorporated, manufactures and sells two products: Product 15 and Product U1. Data…
A: Activity-based costing is a method of assigning overhead and indirect costs such as salaries and…
Q: Is the following statement correct regarding exclusions or deductions? Cancellation of debt for a…
A: Cancellation of debt for a taxpayer's credit card bill is not a deduction from federal gross income.…
Q: State clearly how you would deal with the following in the books of a Company : (i) The…
A: Capital expenditure is the money spent by a firm to acquire assets or to improve the quality of…
Q: Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the…
A: Budgeted cash Collections Expected in September from Accounts Receivables = 70% of Sales are on…
Q: The balance sheet for the Litex Corporation on December 31, 2004, includes the following receivables…
A: Account Receivable - Accounts receivable (AR) is the remaining amount owed to a business for goods…
Q: eBook Show Me How Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Snavely, Incorporated, manufactures and sells two products: Product E1 and Product A7. Data…
A: Solution.. Activity rate = estimated overhead / estimated cost Driver Activity Rate…
Q: profile-image Student question Time to preview question: 00 : 08 : 51 The Epsilon Co. have a…
A: In an organization having many departments, it is necessary to apportion the multiple costs properly…
Q: The Gourmand Cooking School runs short cooking courses at its small campus. Management has…
A: A budget is a forecast of revenue and expenses for a certain future period of time that is generally…
Q: Pleasant Heating & Cooling (PHC) Co. manufactures furnaces and air conditioners that are in great…
A: The problem at hand involves applying the principles of revenue recognition as outlined in…
Q: Explain two (2) challenges when analyzing and interpreting the financial performance of different…
A: Financial ratios are tools which are used by the business organizations so as to assess the…
Q: What accounting information will be considered as relevant to your investigation if doing an…
A: As an accountant, it is important to consider all relevant accounting information when evaluating a…
Q: ocess costing system. A unit of product passes through two departments: Assembly and finishing…
A: Price Variance - Price variance is calculated by multiplying the number of actual units purchased by…
Q: a) May 15 Purchased merchandise for $6.750 on account, FOB Shipping Point. Paid $ 600 for…
A: INTRODUCTION: A journal entry is the initial phase of the accounting cycle. A journal records all…
Q: Impairment review in 2017 On 31 December 2017, the carrying amounts of one of its retail shops (a…
A: a) A cash generating unit (CGU) is a group of assets that generates cash inflows that are largely…
Q: What are 2 ways to begin setting up a recurring transaction in QuickBooks Online?
A: The correct answers are: (C) Gear > recurring transactions (E) Select the make recurring option…
Q: Markanich Company purchased land for $90,000 in 2010. In 2013, the land is valued at $115,000. The…
A: The land would appear on the company's books in 2013 at $90,000 because the company's accounting…
Q: Farming Supply Company plans to make 19,000 tractors at its plant. Fixed costs are $570,000 and…
A: The question is based on the concept of Cost Accounting. Variable cost is the cost that remains same…
Q: Kindly make a thorough analysis or explanation of this
A: Income statement is used by the company in order to show the net income or net loss for the company.…
Q: Frodo Corp. bought Aardvark Co. in 2021 and appropriately recorded goodwill related to the purchase.…
A: Goodwill is the amount in business combination, which is paid more than the fair value of…
Q: maturity and 4.1% for a three-year maturity (all effective annual rates). Suppose that someone is…
A: Investment - A purchase made with the intention of creating income or capital growth is known as an…
Q: $15.15 $17.67 $14.63 $15.40
A: Process costing is the method of costing which is used for the purpose of tracking the number of…
Q: Bettie Corporation uses a weighted-average process costing system to collect costs related to…
A: Process costing is an accounting technique typically used by companies that produce identical or…
Q: Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $3,300,000, 12%,…
A: When the market rate is not the same as the stated or contracted rate the bond payable and cash will…
Q: A company's balance sheet contained the following information: Common Stock $ 11,000…
A: A balance provides information about a business and how it functions. It displays a corporation's…
Q: SOS On 1 January 2017, Devin obtained a bank loan of $500 000 from ABC Bank. The loan is to be paid…
A: A loan is a financial instrument taken to fulfill the financial needs of the borrower having fixed…
Q: costing
A: Costing products properly is imperative to determine how well each product is performing. You can…
Q: Euro in purchases Aldi Company. The statement of financial position of Aldi Company as of December…
A: Date Account title Debit Credit 31 December 2021 Land BD210,000 Machinery BD52,500…
Q: Complete the payroll sheet. (Round answers to 2 decimal places, e.g. 15.26.) Name B.D. Williams D.…
A: For BD Wiliams State & Federal Unemployment Taxes is deductible on earnings of $300. For D Raye…
Q: type! Cost For the following costs, identify the type of cost. Remember, costs may be of more than…
A: INTRODUCTION: In business, the cost is the amount of money spent on the production or development of…
Q: In the course of your company's audit to BLACKPINK CORPORATION'S cash in bank for the year ended…
A: Unadjusted cash is the recorded cash balance in a company's financial records without taking into…
Q: depreciation
A: Depreciation is a non-cash charge that allows companies to make provisions for the replacement of…
Q: working capital management
A: Working capital management assures of the best utilization of a firm’s current assets and current…
Q: Pasadena Candle Inc. budgeted production of 45,000 candles for January. Each candle requires…
A: Direct Labor Cost Budget : Direct Labor Cost Budget is prepared to calculate the no. of labor hours…
Q: From the following information compute the residual income of Frannie Ltd. a) Reported Earnings =…
A: Residual income refers to the money you have after you've taken care of ongoing expenses like your…
Kk134.
Trending now
This is a popular solution!
Step by step
Solved in 6 steps
- A tree provider to plant nurseries is trying to use customer lifetime value to determine the value of its customers. Two customers are shown below. Use customer lifetime value to determine the importance of each customer. Use a 7 percent discount rate. Avg. Annual Sales Avg. Profit Margin Customer A: Customer B: $26,500 $14,000 Do not round intermediate calculans. Round your answers to the nearest dollar. NPV (Customer A): $ 25% 15% Expected Lifetime 11 years 7 years NPV (Customer B): $ What do you recommend? -Select- is more important.A tree provider to plant nurseries is trying to use customer lifetime value to determine the value of its customers. Two customers are shown below. Use customer lifetime value to determine the importance of each customer. Use an 8 percent discount rate. Avg. Annual Sales Avg. Profit Margin 10% $12,500 $26,000 20% Do not round intermediate calculations. Round your answers to the nearest dollar. NPV (Customer A): $ NPV (Customer B): $ What do you recommend? Customer B ✓ Customer A: Customer B: is more important. Expected Lifetime 5 years 9 yearsCalculating Price Using a Markup Percentage of Cost Lake McDonald Gift Shop has decided to price the games that it sells at cost plus 70%. The National Parks Memory Card Game costs $15.00 each, and another one, the Guess This Animal Track Game, costs $0.50 each. Required: 1. What price will Lake McDonald Gift Shop charge for each National Parks Memory Card Game? If required, round your answer to two decimal places.$ 2. What price will Lake McDonald Gift Shop charge for each Guess This Animal Track Game? If required, round your answer to two decimal places.$
- Cost Definitions Luisa Giovanni is a student at New York University. To help pay her way through college, Luisa started a dog walking service. She has 12 client dogssix are walked on the first shift (6:30 A.M. and 5:00 P.M.), and six are walked on the second shift (7:30 A.M. and 6:00 P.M.). Last month, Luisa noted the following: 1. Purchase of three leashes at 10 each (she carries these with her in case a leash breaks during a walk). 2. Internet service cost of 40 a month. This enables her to keep in touch with the owners, bill them by email, and so on. 3. Dog treats of 50 to reward each dog at the end of each walk. 4. A heavy-duty raincoat and hat for 100. 5. Partway through the month, Luisas friend, Jason, offered her a chance to play a bit role in a movie that was shooting on location in New York City. The job paid 100 and would have required Luisa to be on location at 6:00 A.M. and to remain for 12 hours. Regretfully, Luisa turned it down. 6. The dog owners pay Luisa 250 per month per dog for her services. Required: 1. At the end of the month, how would Luisa classify her Internet payment of 40as a cost on the balance sheet or as an expense on the income statement? 2. CONCEPTUAL CONNECTION Which of the above items is an opportunity cost? Why? 3. What price is charged? What is Luisas total revenue for a month?Calculating Price Using a Markup Percentage of Cost Lake McDonald Gift Shop has decided to price the games that it sells at cost plus 70%. The National Parks Memory Card Game costs $15.00 each, and another one, the Guess This Animal Track Game, costs $2.00 each. Required: 1. What price will Lake McDonald Gift Shop charge for each National Parks Memory Card Game? If required, round your answer to two decimal places.$fill in the blank 1 2. What price will Lake McDonald Gift Shop charge for each Guess This Animal Track Game? If required, round your answer to two decimal places.José Ruiz starts a company that makes handcrafted birdhouses. Competitors sell a similar birdhouse for $275 each. Jose believes he can produce a birdhouse for a total cost of $235 per unit, and he plans a 20% markup on total cost. (a) Compute José's planned selling price. (b) Is José's price lower than competitors' price? Complete this question by entering your answers in the tabs below. Required A Required B Compute José's planned selling price. Selling price per unit
- Good morning, Please answer questions Patsy Smith is planning to sell her special knife for $15 per unit. She purchases units from alocal distributor for $6 each. She can return any unsold units for a full refund. Fixed costs forbooth rental, including lighting and security is $4500.Requireda) Compute the breakeven point in units sold. b) Suppose the unit purchased is $5 instead of $6, the fixed cost increases by $500, butthe selling price is unchanged. Compute the new breakeven point in units sold. c) Using the above data, explain how cost behaviour affects Patsy Smith’s decisionmaking?a) Kerry Kase purchased purchase a new computer for her Travel Agency The price with VAT was 3599 and the VAT was 20 what was the cost ex VAT? b) Kerry Kase worked out that the cost of a tour she wants to organise came up to 735 she adds a 90 commission in order to have a selling price of 825 ex VAT The VAT is 20 what will be the final price with VAT Instructions.Describe your process and calculate the 2 prices accordinglyUsing Excel for cost-volume-profit (CVP) analysis Download an Excel temp/ate for this problem online in MyAccountingLab or at http://www.pearsonhigheredcom/Horngren. The Oceanside Garden Nursery buys flowering plants in tour-inch pots for $1.00 each and sells them for $2.50 each. Management budgets monthly fixed costs of $2,100 for sales volumes between 0 and 5,000 plants. Requirements Use the contribution margin approach to compute the company’s monthly breakeven point in units. Use the contribution margin ratio approach to compute the breakeven point in sales dollars. Use the contribution margin approach to compute the monthly sales level (in units) required to earn a target operating income of $5,000. Prepare a graph of the company’s CVP relationships. Include the sales revenue line, the fixed cost line, and the total cost line. Create a chart title and label the axes.
- Richardson Ski Racing (RSR) sells equipment needed for downhill ski racing. One of RSR's products is fencing used on downhill courses. The fence product comes in 150-foot rolls and sells for $215 per roll. However, RSR offers quantity discounts. The following Activity Frame e per roll depending on order size: Quantity Ordered Το From Price per Roll 1 30 $215 31 60 $195 61 120 $175 121 and up $155 Click on the datafile logo to reference the data. DATA fil (a) Use the XLOOKUP function with the preceding pricing table to determine the total revenue from these orders. (b) Use the COUNTIF function to determine the number of orders in each price bin. From To Price per Number of Roll Orders 1 30 $215 31 60 $195 61 120 $175 121 and up $155 172You own a collection of DVDs that you know that you could sell for £80. If you decide to keep them, the £80 is known as which one of the following costs? OA. Notional cost OB. Replacement cost OC. Opportunity cost OD. Outlay cost Time Remaining: 00:44:30 NextBurnaby Meadows Restaurant uses a contribution margin pricing system. The restaurant's manager decided that the selling price of a new menu item will be $10.00. The required contribution margin is $4.00. The labor costs are 30% form sales. What is the amount the kitchen staff can spend on product cost when making the item? Select one: a. $7 b. 6.00