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Galante Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During May, Kennel budgeted for 3,000 tenant-days, but its actual level of activity was 2,980 tenant-days. Kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting: Fixed element per month Variable element per tenant-day Revenue — $29.50 Wages and salaries $2,000 $5.50 Food and supplies 200 10.30 Facility expenses 7,000 2.50 Administrative expenses 6,800 0.30 Total expenses $16,000 $18.60 Actual results for May: Revenue $106,530 Wages and salaries $23,400 Food and supplies $36,780 Facility expenses $19,150 Administrative expenses $9,120 The net operating income in the flexible budget for May would be closest to:
There were 4400 units in the ending work in process inventory of the assembly dept. that were 30% complete with respect to conversion costs. Illustrate what were the equivalent units for conversion costs in the assembly dept. for the month?
Short summary of a foreign derivative. Accounting treatment via the cash flow and fair value methods
Accounts Payable is money you pay to customers and vendor default information needs to be setup to establish the criteria used when computing vendor discounts.
What should the firm's stock price and stock value before it pays the dividend. - What should the firm's stock price and stock value immediately after it pays the dividend.
On January 1, 2014, Valley Company entered into a 3-year construction contract that had an estimated gross revenue of P3,000,000. The entity used the percentage of completion method in recognizing income on its books.
Analysis of various methods of inventory system and its effect on ending inventory and cost of goods sold - Which cost flow method results in (1) the lowest inventory amount for the balance sheet, and (2) the lowest cost of goods sold for the income..
power industry select the suitable costing system and narrate the reasons for the same.northwest power produces
At the end of 20x4, the only future temporary difference for a firm related to depreciation. For assets owned as of 12/31/x4, future depreciation (after 20x4) was projected to be $40,000 for taxes and $60,000 for the books. During 20x5, the firm reco..
Explain to Wendy at least 4 key controls she must establish to protect herself against fraud. You should state specific internal control principles and relate your answer to her hair salon business.
A company has 2,500 shares authorized and 1500 have been issued, the annual dividend on $20 par 5% stock is $1500
Welnor Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 for January. Prepare a Schedul..
Machinery purchased for $ 60,000 by Tom Brady Co. in 2010 was originally estimated to have a life of 8 years with a salvage value of $ 4,000 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2015, it is determined t..
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