Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Mohtreal. The 1ollowing tabIe provides estimates concerning the company's costs: Fixed Cost per cost per Car Washed $0.60 $0.09 Month Cleaning supplies Electricity Maintenance $1,400 $0.10 $0.20 $ 4.300 $ 8,500 $1,900 $1,300 Wages and salaries Depreciation Rent Administrative expenses $0.03 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 per car washed. The company actually washed 8,400 cars in August. Required: Calculate the company's activity variances for August. (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.)

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Mohtreal. The 1ollowing tabIe provides estimates concerning the company's costs: Fixed Cost per cost per Car Washed $0.60 $0.09 Month Cleaning supplies Electricity Maintenance $1,400 $0.10 $0.20 $ 4.300 $ 8,500 $1,900 $1,300 Wages and salaries Depreciation Rent Administrative expenses $0.03 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 per car washed. The company actually washed 8,400 cars in August. Required: Calculate the company's activity variances for August. (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.)

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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Noteworthy, Incorporated, produces and sells small electronic keyboards. Assume that you have the following information about Noteworthy's costs for the most recent month. Depreciation on factory equipment Depreciation on CEO's company car Speakers used in the keyboard Production supervisor's salary Glue and screws used in the keyboards Cost to run an ad on local radio stations Wages of persons who install the speakers $ 820 180 1,140 2,370 250 2,970 Utilities for the factory Personnel manager's salary Wages of person who attaches legs to keyboards Required: 1. Calculate the total product cost for Noteworthy. 2. Calculate the prime cost for Noteworthy. 3. Calculate the manufacturing overhead for Noteworthy. 4. Calculate the direct labor for Noteworthy. 5. Calculate the conversion cost for Noteworthy. 650 1,250 2,640 2,070 6. Calculate the total variable cost (with number of units produced as the activity) for Noteworthy. 7. Calculate the total fixed cost (with number of units produced…
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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $ 0.50 $ 1,300 $ 0.07 $ 0.15 $ 4,500 $ 0.20 $ 8,200 $ 1,800 $ 1,500 $ 0.02 For example, electricity costs should be $1,300 per month plus $0.07 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.50 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,600 $ 57,350 4,750 1,865 1,515 6,560 8,200 2,000 1,570 26,460 $ 30,890 Prepare a flexible budget performance…
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation $ 0. 70 $ 0.08 $ 0.20 $ 0.30 $ 1,400 $ 4,300 $ 8,300 $ 1,800 $ 1,500 Rent Administrative expenses $ 0.02 For example, electricity costs should be $1,400 per month plus $0.08 per car washed. The company actually washed 8,400 cars in August and collected an average of $6.10 per car washed. Required: Prepare the company's flexible budget for August. Lavage Rapide Flexible Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income
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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.70 Electricity $ 1,100 $ 0.08 Maintenance $ 0.25 Wages and salaries $ 4,200 $ 0.30 Depreciation $ 8,400 Rent $ 2,100 Administrative expenses $ 1,500 $ 0.01 For example, electricity costs should be $1,100 per month plus $0.08 per car washed. The company expects to wash 8,500 cars in August and to collect an average of $6.90 per car washed. The company actually washed 8,600 cars in August. Required: Calculate the company's activity variances for August. 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.
please answer both parts in excel with formula
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per per Month Car Washed $ 0.70 $ 1,200 $ 0.07 $ 0.15 $ 4,900 $ 0.40 $ 8,000 $ 2,000 $ 1,400 $ 0.02 For example, electricity costs should be $1,200 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.10 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,300 $ 52,120 6,240 1,744 1,470 8,540 8,000 2,200 1,464 29,658 $ 22,462 Calculate the company's revenue and…
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A company produces two products, product A and product B. Both products are produced by using similar machines and similar methods. The indirect costs of the company are 45 000 €/year. More information regarding product A and product B: Product A Product B Produced items 250/year 7000 items/year Labour hours 2h/item 3h/item Calculate how the indirect costs of the company should be accumulated into two different products, product A and product B. Your answer: