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Jolly Cleaners offers residential and commercial cleaning services. Clients pay a fixed monthly fee for the service, but can cancel the service at the end of any month. In addition to the employees who do the actual cleaning, the firm includes two managers who handle the administrative tasks (human resources, accounting, and so on) and one dispatcher, who assigns the cleaning employees to jobs on a daily basis. On average, residential clients pay $320 per month for cleaning services and the commercial clients pay $1,800 per month. A typical residential client requires 10 hours a month for cleaning and a typical commercial client requires 40 hours a month. In March, Jolly Cleaners had 30 commercial clients and 160 residential clients. Cleaners are paid $15 per hour and are only paid for the hours actually worked. Supplies and other variable costs are estimated to cost $5 per hour of cleaning Other monthly costs (all fixed) are $49,000 SG&A, including managerial and dispatcher salaries, and $2,900 in other expenses. For July, Jolly Cleaners has budgeted profit of $4,900 based on 40 commercial clients. Required: How many residential clients are budgeted for July? Prepare a budgeted income statement for July to confirm your answer. Complete this question by entering your answers in the tabs below. Residential Budgeted Inc Clients Stmt Prepare a budgeted income statement for July to confirm your answer. (Round intermediate calculations to nearest whole number)

Jolly Cleaners offers residential and commercial cleaning services. Clients pay a fixed monthly fee for the service, but can cancel the service at the end of any month. In addition to the employees who do the actual cleaning, the firm includes two managers who handle the administrative tasks (human resources, accounting, and so on) and one dispatcher, who assigns the cleaning employees to jobs on a daily basis. On average, residential clients pay $320 per month for cleaning services and the commercial clients pay $1,800 per month. A typical residential client requires 10 hours a month for cleaning and a typical commercial client requires 40 hours a month. In March, Jolly Cleaners had 30 commercial clients and 160 residential clients. Cleaners are paid $15 per hour and are only paid for the hours actually worked. Supplies and other variable costs are estimated to cost $5 per hour of cleaning Other monthly costs (all fixed) are $49,000 SG&A, including managerial and dispatcher salaries, and $2,900 in other expenses. For July, Jolly Cleaners has budgeted profit of $4,900 based on 40 commercial clients. Required: How many residential clients are budgeted for July? Prepare a budgeted income statement for July to confirm your answer. Complete this question by entering your answers in the tabs below. Residential Budgeted Inc Clients Stmt Prepare a budgeted income statement for July to confirm your answer. (Round intermediate calculations to nearest whole number)

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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Jolly Cleaners offers residential and commercial cleaning services. Clients pay a fixed monthly fee for the service, but can cancel the service at the end of any month. In addition to the employees who do the actual cleaning, the firm includes two managers who handle the administrative tasks (human resources, accounting, and so on) and one dispatcher, who assigns the cleaning employees to jobs on a daily basis, On average, residential clients pay $320 per month for cleaning services and the commercial clients pay $1,800 per month. A typical residential client requires 10 hours a month for cleaning and a typical commercial client requires 40 hours a month. In March, Jolly Cleaners had 30 commercial clients and 160 residential clients. Cleaners are paid $15 per hour and are only paid for the hours actually worked Supplies and other variable costs are estimated to cost $5 per hour of cleaning Other monthly costs (all fixed) are $49,000 SG&A, Including managerial and dispatcher salaries, and $2,900 in other expenses. For July, Jolly Cleaners has budgeted profit of $4,900 based on 40 commercial clients. Required: How many residential clients are budgeted for July? Prepare a budgeted income statement for July to confirm your answer. Complete this question by entering your answers in the tabs below. Residential Budgeted Inc Stmt Clients Prepare a budgeted income statement for July to confirm your answer. (Round intermediate calculations to nearest whole number.) Revenues: Commercial Residential Total revenue Expenses: JOLLY CLEANERS Budgeted Income Statement For the month of July Cleaner compensation Supplies SG&A Other expenses Total expenses Income $ $ $ 0 0 0 Pesidential Clients < Prev 10 of 10 27 Next
Transcribed Image Text:Jolly Cleaners offers residential and commercial cleaning services. Clients pay a fixed monthly fee for the service, but can cancel the service at the end of any month. In addition to the employees who do the actual cleaning, the firm includes two managers who handle the administrative tasks (human resources, accounting, and so on) and one dispatcher, who assigns the cleaning employees to jobs on a daily basis, On average, residential clients pay $320 per month for cleaning services and the commercial clients pay $1,800 per month. A typical residential client requires 10 hours a month for cleaning and a typical commercial client requires 40 hours a month. In March, Jolly Cleaners had 30 commercial clients and 160 residential clients. Cleaners are paid $15 per hour and are only paid for the hours actually worked Supplies and other variable costs are estimated to cost $5 per hour of cleaning Other monthly costs (all fixed) are $49,000 SG&A, Including managerial and dispatcher salaries, and $2,900 in other expenses. For July, Jolly Cleaners has budgeted profit of $4,900 based on 40 commercial clients. Required: How many residential clients are budgeted for July? Prepare a budgeted income statement for July to confirm your answer. Complete this question by entering your answers in the tabs below. Residential Budgeted Inc Stmt Clients Prepare a budgeted income statement for July to confirm your answer. (Round intermediate calculations to nearest whole number.) Revenues: Commercial Residential Total revenue Expenses: JOLLY CLEANERS Budgeted Income Statement For the month of July Cleaner compensation Supplies SG&A Other expenses Total expenses Income $ $ $ 0 0 0 Pesidential Clients < Prev 10 of 10 27 Next
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