Marco owns a laundromat and was analyzing his electricity bills. His highest bill was $5,200 in July when customers used 2,600 machine cycles, and his lowest bill was $3,400 in February when customers used 1,400 machine cycles. What was the variable cost per machine cycle associated with Marco's electricity bill? A) $1.50 B) $2.00 C) $1.25 D) $0.75
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- Russell Preston delivers parts for several local auto parts stores. He charges clients $0.75 per mile driven. Russell has determined that if he drives 3,480 miles in a month, his average operating cost is $0.55 per mile. If he drives 4,640 miles in a month, his average operating cost is $0.50 per mile. Russell has used the high-low method to determine that his monthly cost equation is total cost = $696 + $0.35 per mile. Required: 1. Determine how many miles Russell needs to drive to break even. 2. Assume Russell drove 2,040 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month. 3. Determine how many miles Russell must drive to earn $1,000 in profit. 4. a. Prepare a contribution margin income statement assuming Russell drove 2,040 miles last month. b. Use the information provided in Req 4a to calculate Russell's degree of operating leverage. Complete this question by entering your answers in the tabs below. Req 1 Req 2…Russell Preston delivers parts for several local auto parts stores. He charges clients $0.75 per mile driven. Russell has determined that if he drives 3,270 miles in a month, his average operating cost is $0.55 per mile. If he drives 4,360 miles in a month, his average operating cost is $0.50 per mile. Russell has used the high-low method to determine that his monthly cost equation is total cost = $654 + $0.35 per mile. Required: Determine how many miles Russell needs to drive to break even. Assume Russell drove 1,935 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month. Determine how many miles Russell must drive to earn $1,000 in profit. Prepare a contribution margin income statement assuming Russell drove 1,935 miles last month. Use the information provided in Req 4a to calculate Russell’s degree of operating leverage.Radien runs her own hot dog stand on the U of A campus. The monthly cost of the cart rental and business permit is $1,100. Raiden spends $2.50 on each hot dog sold, including bun and condiments. She sells each hot dog for $5.00. 1. What is the contribution margin per unit? 2. What is the contribution margin ratio? 3. Predict operating income for a month in which Raiden sells 1,300 hot dogs
- can you help me with the last two problemsBill owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2,800 occurred in August when the machines worked 1,200 machine hours. The lowest utility bill of $2,200 occurred in December when the machines worked 600 machine hours. Using the high-low method, the variable cost per machine hour is per machine hour and the total fixed utility cost is | O $1.20 and $1,530 O $3,40 and $1,800 O $1.50 and $1,700 O $2.00 and $1,400 O $1.00 and $1,600 身Using the high-low method Mark, owns a machine shop. In reviewing the shop’s utility bills for the past 12 months, he found that the highest bill of $2,600 occurred in August when the machines worked 1,200 machine hours. The lowest utility bill of $2,300 occurred in December when the machines worked 600 machine hours. Requirements Use the high—low method to calculate the variable cost per machine hour and the total fixed utility cost. Show the equation for determining the total utility cost for the machine shop. If Mark anticipates using 800 machine hours in January, predict the shop’s total utility bill using the equation from Requirement 2.
- The owner of a car wash wants to increase his Revenue. He decides to reduce his price by $2.00. Currently he charges $10.99 for the Deluxe Car wash. In a typical week he sells 70 deluxe car washes. He knows from previous experience his sales will increase to 110 deluxe car washes per week. The other variable costs per car wash are $1.99 which includes all chemicals and labour costs. What percentage must his sales increase by to maintain his current Contribution ? 28.6% 28.2% 30.5% 32% None of these are correct or cannot be determined D View FeedbackLouis Petit, a manager of Doggone Gorgeous, Inc., was reviewing the water bills of a dog daycare and spa. He determined that its highest and lowest bills of $3,800and $2,000 were incurred in the months of May and November, respectively. If 600 dogs were washed in May and 100 dogs were washed in November, what was the fixed cost associated with the company's water bill? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A.$ 2 comma 000 $2,000 B.$ 1 comma 800 $1,800 C.$ 1 comma 640 $1,640 D.$ 3 comma 800Acme Inc. manufactures and sells widgets. Acme Inc. sells widgets for $15 each. Acme Inc. uses 3 gizmos for each widget. Gizmos cost $2 each. In December, Acme sold 300 widgets. Acme also pays rent of $500 per month. please show work. A.) What is Acme Inc.'s contribution margin per unit? B.) What is Acme Inc.'s contirbution margin ratio? C.) Assuming the about information is all revenue and expenses for scme, what is December's net income? D.) Determine the fixed cost give the following information: Lowest level of activity- 200 units at a total cost of $600 Highest level of activity- 800 units at a total cost of $1,800 Fixed cost =
- Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.54 per mile driven. Joyce has determined that if she drives 3,200 miles in a month, her total operating cost is $829. If she drives 5,900 miles in a month, her total operating cost is $1,153. Joyce has used the high-low method to determine that her monthly cost equation is total monthly cost = $445 $0.12 per mile driven. Required: 1. Determine how many miles Joyce needs to drive to break even. 2. Calculate Joyce's degree of operating leverage if she drives 6,100 miles. 3. Suppose Joyce took a week off and her sales for the month decreased by 23 percent. Using the degree of operating leverage, calculate the effect this will have on her profit for that monthJoyce Murphy runs a courier service in downtown Seattle. She charges clients $0.48 per mile driven. Joyce has determined that if she drives 3,400 miles in a month, her total operating cost is $1,004. If she drives 5,300 miles in a month, her total operating cost is $1,308. Joyce has used the high-low method to determine that her monthly cost equation is total monthly cost $460+ $0.16 per mile driven. Required: 1. Determine how many miles Joyce needs to drive to break even. 2. Calculate Joyce's degree of operating leverage if she drives 5,500 miles. 3. Suppose Joyce took a week off and her sales for the month decreased by 22 percent. Using the degree of operating leverage. calculate the effect this will have on her profit for that month. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate Joyce's degree of operating leverage if she drives 5,500 miles. Note: Round your intermediate calculations to 2 decimal places and final answer…You own and manage a yard care business in which you charge $50 per visit to care for each yard (your revenue). Your labor, fuel, and other variable costs are 31.1% of revenue, and you have $60,000 in fixed costs. How many visits to care for yards must you perform in a year to break even?
