needs help defining the costs for his business. Frank also wants to know which costs are relevant or irrelevant to his decision making. Identify each cost as relevant or irrelevant. Then identify the type of cost (sunk, fixed, variable, or opportunity). Cost Relevant or irrelevant sunk, fixed, variable, or opportunity Rent baker wages franks culinary school tuition Berries for pies paiting dining area last year franks decision not to attend graduate school

needs help defining the costs for his business. Frank also wants to know which costs are relevant or irrelevant to his decision making. Identify each cost as relevant or irrelevant. Then identify the type of cost (sunk, fixed, variable, or opportunity). Cost Relevant or irrelevant sunk, fixed, variable, or opportunity Rent baker wages franks culinary school tuition Berries for pies paiting dining area last year franks decision not to attend graduate school

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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Assume that a company owns three supermarkets-A, B, and C. Supermarket A incurs numerous costs, one of which is called Deli Department manager's salary. Which of the following choices properly classifies this particular cost with respect to the chosen cost objects: A) B) C) D) Cost Object: Deli Department Direct No Yes Yes No Multiple Choice Choice A Choice B Choice D Choice C Indirect Yes No No Yes Cost Object: Supermarket A Direct No No Yes Yes Indirect Yes Yes NO No
eBook Show Me How Activity-Based Costing for a Service Business Sterling Hotel uses activity-based costing to determine the cost of servicing customers. There are three activity pools: guest check-in, room cleaning, and meal service. The activity rates associated with each activity pool are $8.00 per guest check-in, $16.00 per room cleaning, and $5.00 per served meal (not including food). Tara Lawson visited the hotel for a 5-night stay. Tara had 7 meals in the hotel during the visit. Determine the total activity-based cost for Lawson's visit during the month. Round your answer to the nearest cent.
Saved Help Save & Ex examining the costs, Donato suggested to her supervisor, Gerard LePenn, who is the controller, that they request competitive bids from vendors for the raw material as the current quote seems high. LePenn insisted that the prices are in line with other vendors and told her that she was not to discuss her observations with anyone else. Donato later discovered that LePenn is a brother-in-law of the owner of the current raw-material supply vendor. 4. Which of the following statements are true regarding Donato's possible response to the ethical conflict arising out of the controller's insistence that the company avoid competitive bidding? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) ? She should never go to the next-higher…
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Making outsourcing decisions Priscilla Smiley manages a fleet of 250 delivery trucks for Daniels Corporation. Smiley must decide whether the company should outsource the fleet management function. If she outsources to Fleet Management Services (FMS), FMS will be responsible for maintenance and scheduling activities. This alternative would require Smiley to lay off her five employees. However, her own job would be secure; she would be Daniels’s liaison with FMS. If she continues to manage the fleet, she will need fleet-management software that costs $9,500 per year to lease. FMS offers to manage this fleet for an annual fee of $300,000. Smiley performed the following analysis: Requirements Which alternative will maximize Daniels’s short-term operating income? What qualitative factors should Daniels consider before making a final decision?
After reviewing financial reports of her company's daycare service, Camila determines it should be closed due to a loss. $120965 Variable costs $47970 Traceable (avoidable) fixed costs $70687 Allocated corporate overhead $45828 What would be the impact to net income of closing the daycare? State loss as negative, gain as positive. Round only your final answer to the nearest dollar. Revenues
Assume that you have decided to drive your car to Florida for the spring break. A classmate learns about your plans and asks about riding along with you. Required: Select how you would apply each of the following cost concepts to the task of determining how much, if any, cost you would take into consideration for the purposes of setting a price to be charged for taking the classmate with you. a. Differential cost b. Allocated cost c. Sunk cost d. Opportunity cost
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Finance Which of the following is an example of indirect material costs of a bakery? Select one: Salary of the marketing manager Cost on light bulbs Cost of butter Depreciation of the bakery equipment Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Do not provide Excel Screet shot rather use tool table Answer completely.
Assume that you have decided to drive your car to Florida for the spring break. A classmate learns about your plans and asks about riding along with you. Required: Select how you would apply each of the following cost concepts to the task of determining how much, if any, cost you would take into consideration for the purposes of setting a price to be charged for taking the classmate with you. a. Differential cost b. Allocated cost c. Sunk cost d. Opportunity cost How to allocate? Based on number of people, weight, number of suitcases, or what? What are other opportunities for you to earn revenue? What is the cost of alternative travel for your classmate? What costs have already been incurred and cannot be recovered, even if you don't make the trip? What costs will differ if a friend comes along?
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Cost	Relevant or irrelevant	sunk, fixed, variable, or opportunity
Rent
baker wages
franks culinary school tuition
Berries for pies
paiting dining area last year
franks decision not to attend graduate school