Brady Fitness recently opened a gym offering group cycling classes for $6.20 per person. To provide additional value, Brady offers each participant a towel, a bottle of water, and a protein bar, at a total cost of $3.00 per person. Brady employs four part-time instructors and pays each of them $1,500 per month. Brady also pays himself a monthly salary of $4,800. Other monthly costs include $2,200 for rent, $1,500 for depreciation on his 40 stationary bikes, and $2,000 in utilities and insurance. A. What is Brady's contribution margin per unit? B. What is Brady's contribution margin ratio?
Q: None solution..?????
A: Calculation of Profit Impact:Revenue from Foreign Offer:5,000 units × $8.50 per unit =…
Q: Nishith Corporation uses the weighted-average method in its process costing system.
A: Concept of Conversion Costs:Conversion costs are the combined costs of direct labor and…
Q: Financial Accounting 4.2
A: Coefficient of variation = Standard Deviation/Expected Return Coefficient of variation =…
Q: A manufactured product has the following information for August:
A: Concept of Direct Labor Rate Variance:Direct labor rate variance measures the difference between the…
Q: Compute the cost that should be allocated to the warehouse
A: 1: Total Acquisition CostAdventure Outfitters pays $420,000 for the assets and also incurs $8,500 in…
Q: An asset's book value is $31,000 on December 31, Year 6. The asset has been depreciated at an annual…
A: Step 1: Introduction to property, plant and equipmentProperty, plant, and equipment refers to those…
Q: Variable costs:4125000, fixed costs:2850000
A: Contribution Margin per Unit Formula:Contribution Margin per Unit = (Sales Revenue - Variable Costs)…
Q: Please give me true answer this financial accounting question
A: Step 1: Define Earnings Before Taxes (EBT)Earnings Before Taxes (EBT) refers to a company's earnings…
Q: Solve this
A: Explanation of Return on Investment (ROI): Return on Investment is a performance measure used to…
Q: What were the equivalent units for conversion costs in the Blending Department for November
A: Soln Description Units % Complete (Conversion)Beginning Work in Process (WIP)…
Q: I want Solution
A: Definition of Cost of Goods Manufactured (COGM):Cost of Goods Manufactured refers to the total…
Q: Accurate answer
A: Explanation of Income Summary:The Income Summary account is a temporary account used during the…
Q: During 2022, Valiant Textiles had sales on account of $910,000, cash sales of $525,000, and…
A: Step 1: Introduction to accounts receivablesAccounts receivable refers to the customers who have…
Q: Can you provide the accurate answer to this financial accounting question using correct methods?
A: To calculate the target cost per pancake machine:Calculate the desired ROI (return on…
Q: Please provide problem with accounting question
A: Step 1: Introduction to intangible assetsIntangible assets are non-physical assets that have no…
Q: Please provide the accurate answer to this general accounting problem using appropriate methods.
A: Step 1: Definition of Absorption Costing vs. Variable CostingAbsorption costing includes both…
Q: Can you demonstrate the proper approach for solving this financial accounting question with valid…
A: Provided Data:Sales on Account (Credit Sales) = $910,000Cash Sales = $525,000Collections on Account…
Q: Need help
A: To calculate the Return on Equity (ROE), we use this formula:ROE = Return on Assets (ROA) ÷ (1 -…
Q: None
A: Step 1: Definition of Annual Depreciation Expense (Straight-Line Method)Annual depreciation expense…
Q: Using the High low method of cost estimated total fixed costs are
A: Step 1: Definition of High-Low Method The High-Low Method is a simple and widely used cost…
Q: I am trying to find the accurate solution to this general accounting problem with appropriate…
A: Step 1: Definition of Full Cost Per UnitFull cost per unit refers to the total cost associated with…
Q: Can you solve this general accounting problem with appropriate steps and explanations?
A: Step 1: Definition of P/E Ratio and Price/Cash Flow RatioThe P/E ratio is calculated by dividing the…
Q: Financial Accounting Question
A: The first step in this challenge is to understand the Net Sales Formula Net Sales=Total Sales−Sales…
Q: Want your help with Problem
A: Step 1: Introduction to inventoryInventory refers to the goods and materials that a company holds…
Q: Financial accounting Problem
A: Problem 1: Calculating Budgeted Maintenance Cost Given: Fixed cost: $19,500 per month Variable…
Q: Please provide the answer to this general accounting question with proper steps.
A: Step 1:Definition of Change in Operating Income Due to Inventory ChangeThe change in operating…
Q: general Accounting Question please answer
A: To calculate the amount of dividends Beta Tech declared in 2021, we use the following…
Q: What is the degree of operating leverage?
A: Note:Degree of operating leverage is a measure of how sensitive companies operating income (profit)…
Q: I need help solving this general accounting question with the proper methodology.
A: Step 1: Define Price-Earnings (P/E) RatioThe Price-Earnings (P/E) ratio is a financial metric used…
Q: Please explain the solution to this general accounting problem with accurate explanations.
A: Step 1: Definition of Payback PeriodThe payback period is the amount of time it takes for an…
Q: Financial Accounting Question
A: Step 1: Define Gross MarginGross margin represents the difference between sales and the cost of…
Q: Can you demonstrate the proper approach for solving this financial accounting question with valid…
A: Provided Data:Beginning WIP Inventory = 29,000 units (50% complete for conversion)Units started…
Q: MCQ
A: The correct answer is: a) Process effectiveness indicators complement cost measures Financial…
Q: I am looking for a reliable way to solve this financial accounting problem using accurate…
A: Definition of Total Asset Turnover Ratio:The Total Asset Turnover Ratio (TATO) is a financial metric…
Q: Choose correct option for this general account subject questions
A: Computing for Gross Profit Gross profit is calculated as Sales minus Cost of Goods Sold:Gross Profit…
Q: None solution??????.
A: In accounting, cross-dimensional analysis refers to the process of evaluating multiple aspects of a…
Q: What is the differential revenue from the acceptance of the offer?
A: Explanation of Differential Revenue:Differential revenue refers to the additional revenue generated…
Q: Kindly help me with this Gereral accounting questions not use chart gpt please fast given solution
A: Step 1: Define Labor Quantity VarianceThe labor quantity variance measures the difference between…
Q: How does operational efficiency measurement differ from financial metrics? a) Process effectiveness…
A: **Explanation:** Operational efficiency measurement focuses on how well an organization uses its…
Q: See an attachment for details General accounting question not need ai solution
A: Step 1: Define Predetermined Overhead RateThe predetermined overhead rate is calculated at the…
Q: What amount of gain does he have to report on this sale?
A: Step 1: Definition Concept of Gifted Property Basis for Tax Purposes:When property is received as a…
Q: See an attachment for details General accounting question not need ai solution
A: Step 1: Define Net Sales RevenueNet Sales Revenue is calculated by subtracting sales discounts and…
Q: I need assistance with this financial accounting problem using appropriate calculation techniques.
A: Step 1: Definition of Dividends Dividends are distributions of a portion of a company's earnings to…
Q: Overhead costs were applied at a single, plantwide overhead rate of 250 percent of direct labor…
A: Concept of Direct Materials:Direct materials are the raw materials that are directly traceable to…
Q: Determine the number of completed untis manufactured during the year.
A: Concept of Units Sold:Units sold refers to the total quantity of goods that a company has delivered…
Q: Accumulated depreciation on the equipment
A: Explanation of Book Value:Book value refers to the net value of an asset recorded on the company's…
Q: None..,?
A: Solution:Part (a): How much does the firm have in current liabilities?Working capital…
Q: Please provide the accurate answer to this general accounting problem using valid techniques
A: Step 1: Definition of Total Asset ValueThe total asset value of a company is the sum of all its…
Q: See an attachment for details General accounting question not need ai solution
A: Step 1: Define Fixed Asset TurnoverFixed Asset Turnover is a financial ratio that measures how…
Q: Can you help me solve this general accounting question using the correct accounting procedures?
A: Step 1: DefinitionsConcept of Acquisition Method:The acquisition method is used in business…
Can you provide the valid approach to solving this financial accounting question with suitable standards?
Step by step
Solved in 2 steps
- Fred Flingstone operates a French Fries stand at the local flee market that operates for 8 weekends through the summer. The market vendor fee is $50 per weekend, his vendor insurance is $376 for the summer and he has committed to paying a helper $150 per weekend. His variable costs are $1.58 per French Fries (This includes the cost of napkins, ketchup and salt). He plans to sell the fries for $3.50 each and he knows from experience that he can make a maximum of 200 fries each weekend. a) How many fries does he have to sell per week to break even? b) On one weekend he gets sick and cannot get to the market? What is his net loss for that weekend? c) Another french fries vendor at the market sells fries for $3.10 each. How many fries would Fred have to sell in summer at this price to break even assuming none of his costs change? d) How much would he have to change the variable costs (assuming original fixed costs) to maintain his original break even point if he sold fries at $3.00?LaMont works for a company in downtown Chicago. The firm encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $270 per month. a. If LaMont receives one pass (worth $270) each month, how much of this benefit must he include in his gross income each year? b. If the company provides each employee with $270 per month in parking benefits, how much of the parking benefit must LaMont include in his gross income each year?Jarvie loves to bike. In fact, he has always turned down better-paying jobs to work in bicycle shops where he gets an employee discount. At Jarvie's current shop, Bad Dog Cycles, each employee is allowed to purchase four bicycles a year at a discount. Bad Dog has an average gross profit percentage on bicycles of 25 percent. During the current year, Jarvie bought the following bikes: Description Retail Price Specialized road bike $ 4,000 Cost $ 3,600 Employee Price $ 2,800 Rocky Mountain mountain bike 5,000 4,100 4,000 Trek road bike 3,900 3,300 2,730 Yeti mountain bike 4,600 3,400 3,680 a. What amount is Jarvie required to include in taxable income from these purchases? Amount to be included
- LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $284 per month. If LaMont receives one pass (worth $284) each month, how much of this benefit must he include in his gross income each year? If the company provides each employee with $284 per month in parking benefits, how much of the parking benefit must LaMont include in his gross income each year?Jason owns a fish shop where he sells an exotic variety of tuna fish which he imports from Japan.Jason refrigerates the fish in a cold storage facility near his shop that charges him a fixed annual fee of $1000 and variable charge of $5 per day for each fish container that is stored.Every morning, Jason brings fish from the cold storage to his shop for sale. Jason estimates that he incurs $10,000 electricity cost each year on refrigerating the fish inside his own shop.Jason incurs the following ordering costs:Delivery charges of $10,000 per deliveryImport duties of $300 per cartonCustom fees of $200 per orderImport license fee of $150 per annumJason currently imports fish by placing one order of 20 cartons every month. Each carton costs $2,000.Jason is wondering if he can save inventory costs by adopting EOQ model.a) Calculate the current annual total inventory costsb) Calculate the economic order quantityc) Calculate the annual total inventory costs if EOQ is usedPaul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul’s busiest months: June 1 cash balance $16,000. June 1 supplies on hand $4,400. June 1 accounts receivable $9,100. June 1 accounts payable $4,300. Estimated sales for June, July, and August are $27,300, $41,000, and $43,900, respectively.…
- Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: ⚫ June 1 cash balance $16,000. ⚫ June 1 supplies on hand $4,400. ⚫ June 1 accounts receivable $9,100. • June 1 accounts payable $4,300. • Estimated sales for June, July, and August are $27,300, $41,000, and $43,900,…Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 80 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: June 1 cash balance $16,300. June 1 supplies on hand $4,500. ⚫ June 1 accounts receivable $17,650. ⚫ June 1 accounts payable $2,800. " • • Estimated sales for June, July, and August are $27,900, $41,900, and $44,900,…Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 70 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul’s busiest months: June 1 cash balance $14,500. June 1 supplies on hand $3,900. June 1 accounts receivable $8,100. June 1 accounts payable $3,800. Estimated sales for June, July, and August are $24,300, $36,500, and $38,900,…
- Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 70 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: June 1 cash balance $16,700. June 1 supplies on hand $4,500. June 1 accounts receivable $9,400. • June 1 accounts payable $4,400. • Estimated sales for June, July, and August are $28,200, $42,300, and $45,000,…Ali is a student at the University. He recently purchased a car for OMR5,000 to use it for going to the University. Ali also expects that other friends might ask for transportation from him. He expects a total monthly revenue of OMR50. He expects fuel cost to be OMR30 per month. One of Ali's friends is a taxi driver. He offered Ali to take him to University for a monthly fee of OMR20. Because he does not have to drive, Ali believes that he can perform online work that would earn him a monthly revenue of OMR20, What is the differential revenue in this scenario? Select one: O a. OMR50 Ob OMR30 Oc. OMR40 0d. OMR2D e OMR10Meg O’Byte wants to buy a new computer for her business for Internetaccess on a cable modem. The computer system cost is $5,100. The cablecompany charges $200 (including the cable modem) for installation and hasa $50 a month usage fee for businesses, paid at the end of the month. Megexpects to buy the system with a $100 down payment, financing the balanceat 8 percent over the next 4 years. She will sell the computer for $1,000when she upgrades. She expects a $500 a month increase in cash flow and isin the 25 percent tax bracket.a. The start-up costs are __________________.b. The PVC is __________________.c. The PVB is __________________.d. The monthly payment for the computer is __________________.
