Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tableprovides estimates concerning the company's costs:Cleaning suppliesElectricityMaintenanceWages and salaries :DepreciationAdministrative expensesRentFixed Cost Cost perper MonthCar Washed$ 1,000$ 5,000$ 8,200$1,800$ 1,600$ 0.70$ 0.05$ 0.25$ 0.20$ 0.04For example, electricity costs should be $1,000 per month plus $0.05 per car washed. The company expects to wash 8,500 cars inAugust and to collect an average of $5.90 per car washed. The company actually washed 8,600 cars in August.Required:Calculate the company's activity variances for August.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values. Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following tableprovides estimates concerning the company's costs:Cleaning suppliesElectricityMaintenanceWages and salaries :DepreciationAdministrative expensesRentFixed Cost Cost perper MonthCar Washed$ 1,000$ 5,000$ 8,200$1,800$ 1,600$ 0.70$ 0.05$ 0.25$ 0.20$ 0.04For example, electricity costs should be $1,000 per month plus $0.05 per car washed. The company expects to wash 8,500 cars inAugust and to collect an average of $5.90 per car washed. The company actually washed 8,600 cars in August.Required:Calculate the company's activity variances for August.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.

The quantitative measurement of how actual conduct differs from behavior that was intended is known…

avage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Cleaning supplies. Electricity. Maintenance Fixed Cost Cost per per Month Car Washed $ 0.70 $ 0.05 35 $1,000

avage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Cleaning supplies. Electricity. Maintenance Fixed Cost Cost per per Month Car Washed $ 0.70 $ 0.05 35 $1,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ll.2
Calculate the product costs.
Miracle Car Wash located in Nashville, Tennessee has been providing Interior and exterior car washes since 1960. Provided below is information regarding Miracle's costs: Fixed Cost Cost per per Month Can Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $0.70 $ 8.08 $0.10 $1,300 $4,300 $8,3e0 $2,000 $1,400 $0.20 $8.es For example, electricity costs are $1,300 per month plus $0.08 per car washed. The company actually washed 8,200 cars in August and colected an average of $6.20 per car washed. Required: Prepare the company's flexible budget for August.
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost per Month $ 1,300 $ 4,100 $ 8,400 $ 2,000 Administrative expenses $ 1,700 $ 0.05 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent For example, electricity costs are $1,300 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.30 per car washed. Required: Prepare the company's planning budget for August. Lavage Rapide Planning Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Cost per Car Washed $0.60 $ 0.06 $ 0.15 $0.30 Administrative expenses Total expense Net operating income $ 0 0
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs: Fixed Costper Month Cost perCar Washed Cleaning supplies $ 0.80 Electricity $ 1,100 $ 0.05 Maintenance $ 0.30 Wages and salaries $ 4,800 $ 0.20 Depreciation $ 8,200 Rent $ 1,900 Administrative expenses $ 1,700 $ 0.03 For example, electricity costs are $1,100 per month plus $0.05 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.50 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,500 Revenue $ 56,700 Expenses: Cleaning supplies 7,220 Electricity 1,490 Maintenance 2,760 Wages and salaries 6,840 Depreciation 8,200 Rent 2,100 Administrative…
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.40 Electricity $ 1,200 $ 0.07 Maintenance $ 0.15 Wages and salaries $ 4,100 $ 0.20 Depreciation $ 8,300 Rent $ 1,900 Administrative expenses $ 1,500 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.07 per car washed. The company actually washed 8,500 cars in August and collected an average of $6.90 per car washed. Required: Prepare the company’s flexible budget for August.
Consider zagol manufacturing which is engaged in the manufacturing of product ABC. To produce one unit of the product the company incurs the following costs: Direct material ______$5/kg Direct labor_________$10/hour Total Manufacturing overhead __________________$30000 The company produces a total of 10000 units per month. And the actual price the product is sold is around $24. Company XYZ offers to buy a total of 5000 units this month at the price of $ 17/unit. Would you accept the order if you are the manager? (assume 20% of the manufacturing overhead is variable cost). Describe the basic financial statements , their purpose and their importance to various internal and external users. Clearly discuss which users are most interested in which financial statement and why. Form question one above considering all the manufacturing costs are fixed calculate the Breakeven point both in unit and quantity using the contribution and equation approach. How many units is the company expected…
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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.50 Electricity $ 1,400 $ 0.06 Maintenance $ 0.30 Wages and salaries $ 4,300 $ 0.20 Depreciation $ 8,000 Rent $ 2,200 Administrative expenses $ 1,400 $ 0.02 For example, electricity costs should be $1,400 per month plus $0.06 per car washed. The company actually washed 8,300 cars in August and collected an average of $6.90 per car washed. Prepare the company’s flexible budget for August.
Noteworthy, Incorporated, produces and sells small electronic keyboards. Assume that you have the following information about Noteworthy's costs for the most recent month. Depreciation on factory equipment Depreciation on CEO's company car Speakers used in the keyboard Production supervisor's salary Glue and screws used in the keyboards Cost to run an ad on local radio stations Wages of persons who install the speakers $ 820 180 1,140 2,370 250 2,970 Utilities for the factory Personnel manager's salary Wages of person who attaches legs to keyboards Required: 1. Calculate the total product cost for Noteworthy. 2. Calculate the prime cost for Noteworthy. 3. Calculate the manufacturing overhead for Noteworthy. 4. Calculate the direct labor for Noteworthy. 5. Calculate the conversion cost for Noteworthy. 650 1,250 2,640 2,070 6. Calculate the total variable cost (with number of units produced as the activity) for Noteworthy. 7. Calculate the total fixed cost (with number of units produced…