Need answer the accounting question please answer Oceanic Enterprises rents a building with a total of 120,000square feet, evenly divided between two floors. The companyallocates the rent for space on the first floor at twice the rate forspace on the second floor. The total monthly rent for thebuilding is $36,000. How much of the monthly rental expenseshould be allocated to a department that occupies 20,000square feet on the first floor? (Do not round your intermediatecalculations.)A. $12,000.B. $6,000.C. $15,000.D. $8,000.

Step 1: Calculate Rent AllocationRent allocation involves dividing total rent costs among…

Answered: Oceanic Enterprises rents a building…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 63P

See similar textbooks

Similar questions

A company rents a building with a total of 80,000 square feet, which are evenly divided between two floors. The total monthly rent for the building is $75,000. The company allocates $50,000 of total rent expense to the first floor and $25,000 of total rent expense to the second floor. How much of the monthly rental expense should be allocated to a department that occupies 16,000 square feet on the first floor?
Lalia rents 110,000 square feet of store space for $358,000 per year. The amount of square footage by department is shown below: Department A 45,000 square feet Department B 30,000 square feet Department C 18,000 square feet Department D 17,000 square feet Help allocate the annual rent expense among the four departments on the basis of relative square feet of floor space occupied.
Tat leases out apartment units along Taft Avenue in Manila. The following are the rental rates for iTaft's rooms:Die quireArea Capacity Monthly rental25 sq. m. 1 P12,00035 Sq. m. 2-3 14,00045 sq. m. 3-4 16,000lTaft leases out 35 units of its 25 square meter rooms, 30 units of its 35 square meter rooms, and 10 units of its 25 square meter rooms.The apartment building sits on a lot that has a zonal value of P2,000,00, and assessed value of P2,200,000. 1. How much is iTaft's Output VAT 2. Assuming iTaft sold the parcel of land where the apartment sits for a consideration of P1,900,000, how much is output VAT from the transaction?
City Suites has 32 office suites each rented for $500/month with a 15% vacancy rate. The owner has the following expenses; heat $10,700, electric $7,300, water $3,700, marketing, advertising and salaries of $92,000, insurance $5,300, mortgage interest of $27,560, property taxes 13398, and maintenance 9227. What is the property's net operating income? round answer to the nearest dollar.
Given the following scenario- Office building, 3 stories, 3000 square feet (SF) gross interior floor space each, 2 tenants per floor, 1 350 sf of the building is used for hallways, common bathrooms, stairs, elevator, and lobby. The owner wants a gross rent of $135,000 per year. (First, establish the Load Factor) What is the rent that the Owner should charge per square foot? If Tenant Z rents 1200 sf of usable area, what will be his monthly rent? If the building has an operating expense ratio of 28% of gross rents, including vacancy and reserves, what is the Net Operating Income? The sale price at a 9% CAP rate?
Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a charge for each copy made. The company uses the high-low method to analyze costs and Markson paid $360 for 5,000 copies and $280 for 3,000 copies,
The Inn charges a room rate of $180 per night. The variable costs per room are estimatedto be $60 per night. Fixed costs for a month are as follows:Property taxes $ 550Insurance 320Salaries 4,250Depreciation 880Total fixed costs $ 6,0001. Using the information above, calculate the number of rooms necessary to be rented each month in order for the Inn to break even.2. Calculate the contribution margin ratio of renting a room. (XX.X) 3. What is the Inn's breakeven point in monthly revenue?4. If the Inn wanted to earn a monthly net income of $6,600, how many rooms would it have to rent each month?5. If the Inn rents 80 rooms this month, what is its safety margin…in rooms?in revenue?as a percentage of revenue? (XX.X)6. The Inn is facing some cost increases. As it looks right now, in a few months variable costs will increase by $5 per room, property taxes will increase by 2%. Insurance will be obtained from a new carrier and will be reduced by $31 per month. Salary increases will be…
Assume that RAS AMBA Hotel has annual fixed costs applicable to its operation of $182,500 for its 60 rooms motel,daily room rent income of $ 150,and variable costs of $ 50 for each room rented.It operates 365 days a year.Required :- 1. Operating income on rooms wii be generated ,if the motel is fully occupied throughout an entire year and if the motel is half full during a year? 2.what is the breakeven point in number of rooms rented assuming that the motel is fully occupied throughout the year.
A retail tenant is in 3,575 rentable square feet. Their base rent is $15.95/sf and they pay percentage rent equal to 3.5% of sales over the natural breakpoint. What amount of sales per square foot is the natural breakpoint?
What is the management fee as a percentage of total revenue for a 275-room hotel located in the northwest, if the property recorded an occupancy percentage of 67.3% and an average room rate of $110.86? the hotel had a room revenue to total revenue ratio of 65.1% and a GOP of 29.3% of total revenue. The management fee contract stipulated that the hotel management company would receive 1% of total revenue and 9% of GOP.
Rundle Camps, Inc. leases the land on which it builds camp sites. Rundle is considering opening a new site on land that requires $3,200 of rental payment per month. The variable cost of providing service is expected to be $7 per camper. The following chart shows the number of campers Rundle expects for the first year of operation of the new site: Jan. Feb. 210 290 Mar. Apr. May June July Aug. 270 240 420 540 690 690 Answer is complete but not entirely correct. February August Sept. Oct. 390 420 Required Assuming that Rundle wants to earn $8 per camper, determine the price it should charge for a camp site in February and August. (Do not round Intermediate calculations.) Price S 27 Ⓡ S 20 X Nov. 300 Dec. Total 340 4,800
Technical Engineering presently leases a copying machine on a monthly basis. The lease agreement requires a fixed fee each month in addition to a charge per copy. Technical Engineering made 2,400 copies and paid a total of $162 in rent in September and in October they paid $195 for 3,500 copies. Determine Technical Engineering’s variable cost per copy. $0.06 b. $0.04 c. $0.01 d. $0.03

SEE MORE QUESTIONS

Recommended textbooks for you

CONCEPTS IN FED.TAX., 2020-W/ACCESS

Accounting

ISBN:

9780357110362

Author:

Murphy

Publisher:

CENGAGE L

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

CONCEPTS IN FED.TAX., 2020-W/ACCESS

Accounting

ISBN:

9780357110362

Author:

Murphy

Publisher:

CENGAGE L

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS