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!
Jose's Electronic Repair Shop has budgeted the following time and material for 2014.
Jose's Electronic Repair Shop Budgeted Costs for the Year 2014
Material
Time Charges
Loading Charges
Shop employees' wages and benefits Parts manager's salary and benefits
$108,000
$25,400
Office employee's salary and benefits
23,500
13,600
Overhead (supplies, depreciation, advertising, utilities)
26,000
16,000
Total budgeted costs
$157,500
$55,000
Jose's budgets 5,000 hours of repair time in 2014 and will bill a profit of $5 per labor hour along with a 30% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $100,000.
On January 5, 2014, Jose's is asked to submit a price estimate to fix a 72-inch flat- screen TV. Jose's estimates that this job will consume 5 hours of labor and $200 in parts.
Instructions
(a) Compute the labor rate for Jose's Electronic Repair Shop for the year 2014.
(b) Compute the material loading charge percentage for Jose's Electronic Repair Shop for the year 2014.
(c) Prepare a time-and-material price quotation for fixing the flat-screen TV.
Who are the stakeholders in this situation and what is the effect of Dixon"s proposed change on income before taxes in the year of change?
Compute the unit cost for the handles produced by the pattern department assuming that process costing is totally appropriate. Round unit cost to two decimal places.
Classify the following items as investment by owner (I), owner's drawings (D), revenues (R), or expenses (E).Then indicate whether each item increases or decreases owner's equity.
The ratio of their initial capital investments, which they have agreed will be $32,000 for Baker and $48,000 for Farney - proportion to the time devoted to the business;
on 1st january abc company issued 1000000 5 year 12 percent bonds for 1037690. if the bonds pay interest on june 30 and
Was the CPA correct in suggesting that the company really earned a "profit" for the month?
Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end.
Enter each cost item on your answer sheet, placing an "X" under the appropriate headings. Compute total manufacturing costs for the month.
Explain the difference between the accrual basis of accounting and the cash basis of accounting. What are the major reasons for accrual accounting? How are revenues and expenses defined under accrual accounting?
What are the U.S. tax consequences of Hans U.S. activities and compute Cholati s branch profi ts tax, and determine its branch interest withholding tax obligations. Assume that Cholati does not reside in a treaty country.
mystical corporation found the subsequent errors in their year-end financial statements as of dec. 2012
Evaluate the expected contribution margin ratio and round to the nearest whole percent, find the break-even sales in units and prepare a cost-volume-profit chart on your own paper. What is break-even sales
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