Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour $ 23,200 16.30 $ 8.60 $ 0.40 $ 1.70 $ 0.80 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $44.50 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue Expenses: Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies $ 1,600 $ 6,400 $3,480 $ 4,500 Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating income

Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month Repair-Hour $ 23,200 16.30 $ 8.60 $ 0.40 $ 1.70 $ 0.80 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $44.50 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue Expenses: Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies $ 1,600 $ 6,400 $3,480 $ 4,500 Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating income

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 Cost per Repair-Hour Wages and salaries $ 20,500 $ 15.00 Parts and supplies $ 7.40 Equipment depreciation $ 2,750 $ 0.50 Truck operating expenses $ 5,790 $ 1.50 Rent $ 4,640 Administrative expenses $ 3,810 $ 0.50 For example, wages and salaries should be $20,500 plus $15.00 per repair-hour. The company expected to work 2,700 repair-hours in May, but actually worked 2,600 repair-hours. The company expects its sales to be $51.00 per repair-hour. Required: Compute the company’s activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
29) Sales for December are expected to be 36,000 units and Production is expected to be 37,000 units. You pay your Direct Labor workers $24 per hour and each unit requires 2 hours of labor and 3 hours of machine time. Overhead costs are $5 per hour of which $1 per hour is depreciation. What will be your direct labor costs for the month of December?
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ake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month Cost per Repair-Hour $ 21,300 $ 16.00 $ 7.00 $ 0.50 $ 1.50 Wages and salaries Parts and supplies Equipment depreciation $ 2,770 Truck operating expenses $5,780 $ 4,630 Administrative expenses $3,820 $ 0.80 For example, wages and salaries should be $21,300 plus $16.00 per repair-hour. The company expected to work 2,900 repair-hours in May, but actually worked 2,800 repair-hours. The company expects its sales to be $46.00 per repair-hour. Required: Compute the company's activity variances for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Rent
Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month $ 21,200 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Repair-Hour $15.00 $ 7.50 $ 0.50 $ 1.60 $ 2,770 $ 5,710 $ 4,680 $ 3,870 Rent Administrative expenses $ 0.40 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,700 repair-hours. The company expects its sales to be $44.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Jake's Roof Repair has provided the following data concerning its costs: Wages and salaries Parts and supplies Fixed Cost per Month $20,600 Cost per Repair-Hour $15.00 $ 7.30 Equipment depreciation $ 2,750 $ 0.35 Truck operating expenses $ 5,710 $ 1.70 Rent $ 4,670 Administrative expenses $ 3,820 $ 0.50 For example, wages and salaries should be $20,600 plus $15.00 per repair-hour. The company expected to work 3,000 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $49.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Revenue Expenses: Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net…
Jake's Roof Repair has provided the following data concerning its costs: Wages and salaries Parts and supplies Equipment depreciation Fixed Cost per Month $20,500 Cost per Repair-Hour $15.00 $ 7.50 $ 2,770 $ 0.35 Truck operating expenses Rent $ 5,740 $ 1.70 $ 4,650 Administrative expenses $ 3,860 $ 0.70 For example, wages and salaries should be $20,500 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,700 repair-hours. The company expects its sales to be $50.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Revenue Jake's Roof Repair Activity Variances For the Month Ended May 31 Expenses: Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net…
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The following table provides data concerning a company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.40 Electricity $ 1,400 $ 0.08 Maintenance $ 0.15 Wages and salaries $ 4,900 $ 0.30 Depreciation $ 8,400 Rent $ 1,800 Administrative expenses $ 1,400 $ 0.04 For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.10 per car washed. Prepare the company’s planning budget for August. Budgeted Cars Washed Revenue Expenses: Cleaning Supplies Electricity Maintenance Wages and Salaries Depreciation Rent Administrative Expenses Total Expenses Net Operating Income $
The following information is available for a company's utility cost for operating its machines over the last four months. Month Machine hours Utility cost January 900 $ 5,450 February 1,800 $ 6,900 March 2,400 $ 8,100 April 600 $ 3,600 Using the high-low method, the estimated variable cost per machine hour for utilities is:
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