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Question :
BodyTone Company sells lifetime health club memberships. For one up-front, nonrefundable fee, a customer becomes a lifetime member of BodyTone's network of health clubs.
The fee is $2,000. The fee adds full access to all of the club facilities plus an initial comprehensive physical, spiritual and mental wellness evaluation. The wellness evaluation is regularly sold separately for $400. Occasionally, BodyTone sells lifetime memberships without the wellness appraisal; the price is $1,750. BodyTone will reliably evaluate that the average customer will use the health club facilities for five years. On 1st January, 2013, BodyTone received lifetime membership payments from 300 new customers. The direct cost of giving a wellness evaluation is $70, and the direct cost of giving health club access for one person for one year is $250. All of the wellness evaluations were completed during 2013. Make all of the journal entries essential in 2013 in connection with these 300 new memberships. Consider that all costs were incurred in cash.
Evaluate the total overhead from the given data - Using the rates you computed, determine the total overhead cost applied to Case 618-3.
Assume that variable expenses are reduced by 20% per unit, and the total fixed expenses are increased by 10%. Find the sales in units to achieve a profit of $20,000, assuming no change in selling price.
Difference between ending inventory valuation and cost of goods sold - compute ending inventory and cost of goods sold under each method, and then compare results.
Analyze the amount of these expenses that Simon is able to deduct, considering he itemizes his deductions, in each of the subsequent situations
Evaluate subsequent income and expenses
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Prepare general journal entries to record the above transactions.
What is the relationship between economies of scale and a natural monopoly? Why is the level of output at which marginal revenue equals marginal cost the profit-maximizing output?
Franklin Bedding, Inc. has assets of $400,000 and turns over its assets 1.5 times per year. Return on assets is 12 percent. What is its profit margin (return on sales)?
During April of the current year, Ronen purchased a warehouse that he used for business purposes. The basis was $1,600,000. Calculate the maximum depreciation expense during the current year?
Concept of depreciation of plant assets through short questions and For income statement purposes, depreciation is a variable expense if the depreciation method
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