Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Phil Keogan is considering a bid for the hotdog and softdrink concession at the 14 basketball games for the Cagayan Unigames. There will be seven college games and seven professional games. Average attendance at the college games is 30,000; at professional games attendance is 60,000. Phil estimates that he sells one hotdog and one softdrink for each two persons attending a game.Revenue and cost data are as follows:HOTDOG SOFTDRINKSelling Price Php 15.00 (H) Php 10.00 (S)Variable costHotdog 3.20 (H)Breadroll 1.40 (H)Mustard, onion, etc. .20 (H)Softdrink and ice 2.20 (S)In addition, salespeople earn a 20% commission on all sales. Fixed cost per game are Php 80,000 for rentals of heating, cooking, mixing, and cooling equipment.The stadium management requested that bids be made in the form of royalties on sales. The highest percentage of sales bid will win the contract.REQUIREMENTI. What percentage of sales can Keogan pay as royalty to the stadium and earn Php 1,800,000 for the season?II. If Keogan bids 12% of sales, what income can he expect?III. Assume that Keogan gets the concession at a royalty of 12% of sales. He wants to know how much margin of safety he has in two ways. He is uncertain about total attendance and about the percentage of total attendees who buy a hotdog and drink. What is the break-even point for the season, expressed as (a) total attendance assuming one hotdog and drink per two attendees, and (b) the percentage of attendees who must buy a hotdog and drink if total attendees is as expected but the number of hotdogs and drinks each buys is uncertain?IV. What kinds of information does Keogan need if he is also deciding to bid for the concession at basketball games at the same stadium?V. After forecasting attendance for basketball games, Keogan learns that the star player of the local professional team will retire before the coming season. What effect does this information have on his planning?
Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in the modern organization.
The company is currently producing 15,000 units per month. A potential customer has contacted the firm and offered to purchase 5,000 units this month only at a price of $4.25 per unit. There would be no variable marketing costs incurred on the con..
Describe the two major obligations incurred by a company when bonds are issued. Magda and Helga are discussing how the market price of a bond is determined.
Werner Chemical, Inc., leased a protein analyzer on September 30, 2013-Depreciation is recorded on a straight-line basis at the end of each fiscal year. The useful life of the equipment is five years.
Metal cost used in Golf clubs is classified as: A. Variable, product, direct labor, and Manufacturing. B. Direct Labor, Variable, and Product.
The bonds are sold on november 1, 2011 at 13 plus accrued interest. amortization was recorded when interest was received by the straight-line method. prepare all entries required to properly record the sale.
Identify and describe the sources of generally accepted accounting principles. Identify source hierarchy and explain why the hierarchy is important.
Discuss at least three significant differences between IFRS and GAAP.
Allocation and proration of overhead. Tamden, Inc., prints custom marketing materials. The business was started January 1, 2010. The company uses a normal-costing system. It has two direct cost pools, materials and labor and one indirect cost pool..
Managers of Wheldon Manufacturing are analyzing variable overhead variances for the fiscal period just ended. The flexible budget called for $80,000 in variable overhead but actual variable overhead was $95,000.
On January 1, 2011 Piper Co. issued ten-year bonds with a face value of $1,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Calculate the issue price of the bonds.
The future value of an ordinary annuity of 1 for five periods is 6.10510. The present value of an ordinary annuity of 1 for five periods is 3.79079. What was the cost of the machine?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd