Kirklin Clinic's projected budget information for 2020 is listed belowFFS Visit Volume100,000Payer Mix:Blue Cross25%Highmark75%Reimbursement RatesBlue CrossHighmarkVariable CostsResource InputsLaborSuppliesResource Input Pricesvisits$45per visit$30per visit75,000total hours125.000total unitsLabor$20.00per hourSupplies$0.50per unitFixed Costs (overhead,$250,000.00Dplant and equipment)Based on this information, calculate the contribution margin.O $750,000O $1,812,500O $625,000O $700,000

The total revenue is calculated by multiplying the volume of visits by the reimbursement rate for…

Answered: Kirklin Clinic's projected budget…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Budget Actual Sales Units 5,000 Selling Price $50 $250,000 6.000 Variable costs Variable costs $32 $160,000 Overheads Overheads $70,000 $70,000 Budget Profit $20,000 a) From the data above, flex the budget and show all the flexed costs and the profit b) List Two advantages of a flexed budget (
The 2020 cost pool budget for Mandeep Industries that produces television sets is as follows: Machine set up related costs 118200 Engineering related 82200 Quality Control 100400 300800 Budgeted activity levels for 2020 Direct labour hours 9600 Quality inspections 14700 Machine Set-up hours 1260 Engineering changes 1420 For a particular production run of 2,000 LED TVs, the activityt levels were as follows: Direct labour hours 2350 Quality inspections 2300 Machine Set-up hours 960 Engineering changes 490 Required: Calculate the overhead cost of 1 TV set using ABC to apply overheads
7) Goodyear sells 41,000 car tires & 15,000 truck tires using rubber & steel. Prepare a DM purchasing budget given the following data: Car Tires Truck Tires Cost/pound BEG INV END INV Rubber 30 lbs/unit 60 lbs/unit $1.60 30,000 32,000 Steel 4 lbs/unit 7 lbs/unit $0.70 12,000 10,000
33) Everyone Deserves to Smile mobile dentist office budgeted for 4365 patient visits a year. Everyone Deserves to Smile actually saw 4400 patients during the year and they have provided the following data: Revenue Personnel Expenses Medical Supplies Occupancy Expenses Admin Expenses Fixed Portion for Budget A) Cannot be determined C) $2000 Favorable $80,000 $12,000 $19,000 Variable Portion per patient visit for Budget $67 $13 $1.75 $0.25 Based on the given information, what is the volume variance for personnel expenses? Actual Results B) $0 D) $2000 Unfavorable $417,000 $78.000 $38.200 $18.000 $19,650 33)
Note: for credit you must show your calculations for this problem. The Magenta Company has provided the following information:Planned Production: 220,000 UnitsActual Production: 250,000 Units Selling price per unit $4.00Variable cost per unit $2.00Total fixed costs $220,000What is the Budgeted Net Operating Income using a Flexible Budget Methodology? View keyboard shortcuts EditViewInsertFormatToolsTable 12pt Paragraph
Please do not give solution in image format thanku
please help me, thank you
Carla Vista Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Carla Vista: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Rate charged $ Time Charges Material Loading Charges $245,830 Calculate the rate charged per hour of labour. eTextbook and Media Save for Later 47,580 31,720 $325,130 The company wants a $30 profit margin per hour of labour and a 25% profit margin on parts. It has budgeted for 7,930 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $388,000. $36,860 16,490 per hour 25,220 $78,570 Attempts: 0 of 2 used Submit Answer
Sandhill Painting Service has budgeted the following time and material for 2022: BUDGETED COSTS FOR 2022 Time Charges $35,280 Painters' wages and benefits Service manager's salary and benefits Office employee's salary and benefits Cost of paint Overhead (supplies, utilities, etc.) Total budgeted costs 11,760 15,680 $62,720 Material Charges $22,540 2,940 49,000 8,330 $82,810 Sandhill budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. On February 15, 2022, Sandhill is asked to prepare a price estimate to paint a small building Sandhill estimates that i this job will take 12 labor hours and $490.00 in paint.
Estimate the budget cost for each task in the following project WBS that has a budget cost estimation of ($ 850,000) distributed in percentage (%) across all tasks. Router systems project Cost $600,000 Dofinition Design Implementation 10% 40% 50% Customer testing & review Objectives Requirements In-house 6% testing 40% 10% inputs Outputs Files Intertaces Programming 3% 3% 4% 10% 20%
Use the information given below to calculate each of the following independently 3.3 Break-even quantity if the selling price drops by 10% INFORMATIONSlumber Limited manufactures beds. The following information was extracted from the budget for 2024:Expected production and sales (units) 1 200Selling price per bed R6 000Direct materials cost per bed R1 700Direct labour cost per bed R860Variable manufacturing overheads cost per bed R320Fixed manufacturing overheads cost R1 084 800Sales commission (as a percentage of the selling price) 20%Fixed administrative and selling costs R720 000 PLEASE PUT THE ANSWER IN RANDS
Please do not give solution in image format

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS