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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:
Prepare a Statement of Financial Position as at 31st December 2014 and a Statement of Comprehensive Income for the year to date.
Minarski Electronics sells computers and provides hardware maintenance services. On April 1st, Minarski sold a package deal containing a computer and a one-year unlimited maintenance/repair service for the computer at a bundle price of $1,000
Your preliminary assessment of control risk over cash disbursements is low. You base this assessment on the requirements that each cash disbursement be supported by a purchase requisition, a properly approved purchase order, an approved vender list, ..
Compare resultsfor the three cost flow assumptions. What cost flow resultsin the lowest inventory value.
Issue date: January 1, 2004; maturity date: January 1, 2009; face value: $300,000; bond issue costs: $5,000, amortized semiannually using the straight-line method of amortization. The unamortized bond discount is $7,500 as of January 1, 2005. What is..
Aaron transferred property worth $75,000 and services worth $25,000 to the BJ Corporation. In exchange, he received stock in BJ valued at $100,000. Immediately after the exchange, Aaron owned 80% of the only class of outstanding stock. Which of the f..
The AICPA Professional Code of Conduct prohibits accountants from breaching the rule of client confidentiality. Specifically, under Rule 301, public accountants who are members of the institute are not allowed to disclose any confidential info..
question show the amount if any that josh will deduct as ordinary and essential business deductions in each of the
A customer orders $30,000 worth of goods with direct costs of $24,000. The customer places 200 orders, orders 240 unique items, 1600 items, and makes 22 returns. What is the profit (loss) on this customer?
George Company has a unit selling price of $250, variable costs per unit of $170, and fixed costs of $140,000. Contribution Margin per Unit. Contribution Margin per Unit
Explain why do you think larry stone wants to estimate the firm's hrdle rate? Is it justifiable to use the firm's weighted average cost of capital as the divisional cost of capital?
Describe the variable overhead variances. How does a manager plan for these variances? Compare the variable overhead variance to the fixed overhead variance.
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