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INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800 K-9 Grooming & Camp Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work in Process Inventory Direct Materials: Materials - Beginning Add: Purchases for month of January Materials Available for Use Deduct: Ending Materials Materials Used Direct Labor Overhead Total Service Costs Deduct: Ending Work in Process Inventory Cost of Services *Cost of Goods Sold = Cost of Services There is no finished goods inventory to maintain.

INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800 K-9 Grooming & Camp Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work in Process Inventory Direct Materials: Materials - Beginning Add: Purchases for month of January Materials Available for Use Deduct: Ending Materials Materials Used Direct Labor Overhead Total Service Costs Deduct: Ending Work in Process Inventory Cost of Services *Cost of Goods Sold = Cost of Services There is no finished goods inventory to maintain.

FINANCIAL ACCOUNTING
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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Please help with the COS schedule. I have included an info sheet with all breakdowns. 

See below if you need this information: Income for January-actual activity based on price levels: For example, if you chose a grooming price of $25 per groom, the actual grooms in January were 4 per day assuming a 30-day month.
If you chose. . .
The actual # of grooms/daycare/kennel
Grooming price $25  4 grooms per day
Grooming price $30  3 grooms per day
Grooming price $35  2 grooms per day
Daycare price $18  22 dogs per day
Daycare price $20  12 dogs per day
Daycare price $25  9 dogs per day
Kennel price $25  12 dogs per day
Kennel price $28  9 dogs per day
Kennel price $30  6 dogs per day

**K-9 Grooming & Camp Financial Analysis** ### Milestone 1: Variable & Fixed Cost Exercise **Instructions:** Determine the per-unit cost for each dog. Fill in the blanks to get the unit cost and fixed cost of each service. #### Grooming (5 grooms per day) - **Variable Costs:** - Shampoo: $1.04 - Clipper(s): $1.37 - Bowls: $0.72 - Towels: $5.83 - Scissors: $1.01 - **Total Variable Costs:** $9.97 - **Fixed Costs:** - Groomer: $2,079.28 - Rent: $30.95 - Loan: $27.50 - Utilities and Insurance: $28.57 - Depreciation on heating system: $37.56 - Cleaning Products: Odoban: $2.06 - Cleaning Products: Simple Green: $3.38 - Draw: $200.00 - **Total Fixed Costs:** $2,367.91 #### Day Care (22 dogs per day for six days) - **Variable Costs:** - Day care attendant: $2.88 - Toys: $0.27 - Towels: $1.50 - **Total Variable Costs:** $4.65 - **Fixed Costs:** - Rent: $32.14 - Loan: $29.47 - Utilities and Insurance: $21.29 - Depreciation on heating system: $29.64 - Cleaning Products: Odoban: $1.59 - Cleaning Products: Simple Green: $2.36 - Draw: $200.00 - **Total Fixed Costs:** $858.44 #### Boarding (12 dogs per day) - **Variable Costs:** - Boarding attendant: $5.62 - Bowls: $0.86 - Towels: $0.87 - **Total Variable Costs:** $7.35 - **Fixed Costs:** - Depreciation on kennels: $200.00 - Rent: $386.90 - Loan: $29.56 - Utilities and Insurance: $214.29
Transcribed Image Text:**K-9 Grooming & Camp Financial Analysis** ### Milestone 1: Variable & Fixed Cost Exercise **Instructions:** Determine the per-unit cost for each dog. Fill in the blanks to get the unit cost and fixed cost of each service. #### Grooming (5 grooms per day) - **Variable Costs:** - Shampoo: $1.04 - Clipper(s): $1.37 - Bowls: $0.72 - Towels: $5.83 - Scissors: $1.01 - **Total Variable Costs:** $9.97 - **Fixed Costs:** - Groomer: $2,079.28 - Rent: $30.95 - Loan: $27.50 - Utilities and Insurance: $28.57 - Depreciation on heating system: $37.56 - Cleaning Products: Odoban: $2.06 - Cleaning Products: Simple Green: $3.38 - Draw: $200.00 - **Total Fixed Costs:** $2,367.91 #### Day Care (22 dogs per day for six days) - **Variable Costs:** - Day care attendant: $2.88 - Toys: $0.27 - Towels: $1.50 - **Total Variable Costs:** $4.65 - **Fixed Costs:** - Rent: $32.14 - Loan: $29.47 - Utilities and Insurance: $21.29 - Depreciation on heating system: $29.64 - Cleaning Products: Odoban: $1.59 - Cleaning Products: Simple Green: $2.36 - Draw: $200.00 - **Total Fixed Costs:** $858.44 #### Boarding (12 dogs per day) - **Variable Costs:** - Boarding attendant: $5.62 - Bowls: $0.86 - Towels: $0.87 - **Total Variable Costs:** $7.35 - **Fixed Costs:** - Depreciation on kennels: $200.00 - Rent: $386.90 - Loan: $29.56 - Utilities and Insurance: $214.29
**INSTRUCTIONS:** The following are the actual numbers for January: **Materials** - Purchased $5,000 of Materials - Consumed 40% of those purchased materials **Direct Labor** - Direct Labor was $6,240 **Overhead** - Overhead was $2,800 --- **K-9 Grooming & Camp** **Statement of Cost of Services For the Month Ended January 31, xxxx** - **Beginning Work in Process Inventory**: $0 **Direct Materials:** - **Materials - Beginning**: $0 - **Add: Purchases for month of January**: $5,000 - **Materials Available for Use**: $5,000 - **Deduct: Ending Materials**: $3,000 - **Materials Used**: $2,000 - **Direct Labor**: $6,240 - **Overhead**: $2,800 - **Total Service Costs**: $11,040 - **Deduct: Ending Work in Process Inventory**: $0 - **Cost of Services**: $11,040 **Note:** * Cost of Goods Sold = Cost of Services There is no finished goods inventory to maintain.
Transcribed Image Text:**INSTRUCTIONS:** The following are the actual numbers for January: **Materials** - Purchased $5,000 of Materials - Consumed 40% of those purchased materials **Direct Labor** - Direct Labor was $6,240 **Overhead** - Overhead was $2,800 --- **K-9 Grooming & Camp** **Statement of Cost of Services For the Month Ended January 31, xxxx** - **Beginning Work in Process Inventory**: $0 **Direct Materials:** - **Materials - Beginning**: $0 - **Add: Purchases for month of January**: $5,000 - **Materials Available for Use**: $5,000 - **Deduct: Ending Materials**: $3,000 - **Materials Used**: $2,000 - **Direct Labor**: $6,240 - **Overhead**: $2,800 - **Total Service Costs**: $11,040 - **Deduct: Ending Work in Process Inventory**: $0 - **Cost of Services**: $11,040 **Note:** * Cost of Goods Sold = Cost of Services There is no finished goods inventory to maintain.
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