EB9. LO 2.3 The cost data for BC Billing Solutions for the year 2020 is as follows: Invoices Overtime Month Processed Wages $7,760 6,800 6,000 6,100 6,200 7,300 7,400 6,900 6,500 6,600 6,800 7,450 January February March April May June July August September October 12,000 8,000 1,000 7,000 5,000 10,000 11,000 9,000 5,000 9,000 8,000 11,000 November December A. Using the high-low method, express the company's overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. B. Predict the overtime wages if 9,000 invoices are processed. C. Predict the overtime wages if 6,500 invoices are processed. D. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices

EB9. LO 2.3 The cost data for BC Billing Solutions for the year 2020 is as follows: Invoices Overtime Month Processed Wages $7,760 6,800 6,000 6,100 6,200 7,300 7,400 6,900 6,500 6,600 6,800 7,450 January February March April May June July August September October 12,000 8,000 1,000 7,000 5,000 10,000 11,000 9,000 5,000 9,000 8,000 11,000 November December A. Using the high-low method, express the company's overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. B. Predict the overtime wages if 9,000 invoices are processed. C. Predict the overtime wages if 6,500 invoices are processed. D. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices

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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Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 20,900 Cost per Repair-Hour. $ 15.00 $ 7.78 $8.35 $ 1.80 Wages and salaries. Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses For example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,500 repair-hours In May, but actually worked 2,400 repair-hours. The company expects its sales to be $45.00 per repair-hour. Revenue Expenses: $ 2,760 $ 5,790 $ 4,640 $ 3,850 Required: Compute the company's activity variances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating…
5 3) Given the info below, calculate the loaded hourly labor rate 6 7 Project Mgr $80,000/yr 38 2080 hours per year 39 Proj Manager worked 40 hours/week for 50 weeks Social security 6,2 % on first $106,800 Medicare 1.45% of all wages FUTA 8 % on first $7000 40 41 42 43 SUTA 4.5% of first $18,000 44 Workers Comp $7.25 per $100 of wages General Liability 75% of wages 45 Health insurance $300/mo Retirement $.75 per $1 contributed by emploee on 6% of all wages-company gives 4.5% 46 47 48 49 +
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08-18 at 11.37.45 AM_LI.jpg & Edit & Create QUESTION 2 Steve Richardson, management accountant at Jupiter Ltd, is examining the behaviour of quarterly maintenance costs for budgeting purposes. Steve collects the following data on machine-hours worked and maintenance costs for the past eight quarters: Save Answer Quarter Machine-hours Maintenance costs 1,200 $2,150 12. 750 1,500 3. 1,100 2,000 14 1,500 2,700 15 900 1,450 1,490 2,800 16 2,250 7 1,300 1,950 1,000 Required: Close Window a. Estimate the cost function for the quarterly data using the high-low method, Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers. DELL 11:46 AM 30°C AQI 23 A A 90) 8/18/2021 pe here to search
Riverbed's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. 2 W S X Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs (a) Your Answer Correct Answer # 3 E The company anticipated that the restorers would work a total of 12,720 hours this year. Expected parts and materials were $1,335,600. D In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $70.00 and that the material loading charge was 83.00%. Your answer is correct. C 80 $ 4 R F V % 5 T G A Time Charges $292,560 6 63,600 25,440 $381,600 B Y H & 7 ← Material Loading Charges $71,550 U N 21,942 66,780 $160,272 * 00 8 J M ▶ 9 K O L P
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