The following data is available for Swifty Repair Shop for 2022:Repair technicians' wages $320000Employee benefitsOverheadTotalO. $240.00.O $132.00.$122.00.70000O $88.00.70000The desired profit margin is $30 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 laborhours will be worked in 2022.In January 2022, Swifty repairs a bicycle that uses parts of $220. Its material loading charge on this repair would be$460000

Overhead are the indirect costs that are related to either manufacturing or selling of products. It…

Answered: Repair technicians' wages $320000…

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

SC You have a lawn mowing business. You plan to work 250 hours per month and charge your customers $24 per hour. Your anticipated costs include: Advertising $25 per month Gas $1.30 per hour $25 per month $8.00 per hour $30 per month Depreciation on mowers Assistant's Wages Miscellaneous Expenses You plan on paying 60% of your monthly costs in the month incurred, 30% in the second month and the remainder in the following month. Calculate the amount of cash payments for operating activities in your second month of business. Click Save and Submit to save and submit. Click Save All Answers to save all answers. ! 1 Q IL A 2 W S # 3 E D $ 4 R % 5 F MacBook Pro T 6 G & Y 7 H * 00 8 U 9 T K J
can u help me
Diversified Investor Group is opening an office in Portland, Oregon. Fixed monthly costs are office rent ($8,800), depreciation on office furniture ($2,000), utilities ($2,100), special telephone lines ($1,500), a connection with an online brokerage service ($2,700), and the salary of a financial planner ($10,900). Variable costs include payments to the financial planner (9% of revenue), advertising (11% of revenue), supplies and postage (4% of revenue), and usage fees for the telephone lines and computerized brokerage service (6% of revenue). Read the requirements. Requirement 2. Use the equation approach to compute the dollar revenues needed to earn a monthly target profit of $11,200. Begin by selecting the formula to compute the required sales in units to earn a target profit. = Target profit Rearrange the formula you determined above and compute the required number of trades to earn a monthly target profit of $11,200. Diversified must make trades to earn a monthly operating income…
can u help me
Sd
After spending a year and $48,000, you finally have the design of your new product ready. In order to start production, you will need $27,000 in raw materials and you will also need to use some existing equipment that you've fully depreciated, but which has a market value of $101,000. Your colleague notes that the new product could represent 10% of the company's overall sales and that 10% of overhead is $60,000. Your tax rate is 40%. As you start your analysis of the product, what should be your initial incremental free cash flow? The initial incremental free cash flow is $ sign if the answer is negative.) . (Round to the nearest dollar. Be sure to use a negative

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