Required:Fill in the missing amounts, labeled (a) through (o), in the table.A hotel pays the phone company $100 per month plus S.25 for each call made. During January6,000 calls were made. In February 5,000 calls were made. Required:1. Calculate the hotel's phone bills for January and February.2. Calculate the cost per phone call inJanuary and in February.

The fashion of costing is employed by companies to calculate and assess the costs associated with…

Answered: Required:Fill in the missing amounts,…

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

Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 20,900 Cost per Repair-Hour. $ 15.00 $ 7.78 $8.35 $ 1.80 Wages and salaries. Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses For example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,500 repair-hours In May, but actually worked 2,400 repair-hours. The company expects its sales to be $45.00 per repair-hour. Revenue Expenses: $ 2,760 $ 5,790 $ 4,640 $ 3,850 Required: Compute the company's activity variances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating…
American Investor Group is opening an office in Portland, Oregon. Fixed monthly costs are office rent ($8,800), depreciation on office furniture ($1,800), utilities ($2,500), special telephone lines ($1,500), a connection with an online brokerage service ($2,400), and the salary of a financial planner ($4,000). 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 1. Use the contribution margin ratio approach to compute American's breakeven revenue in dollars. If the average trade leads to $750 in revenue for American, how many trades must be made to break even? Begin by showing the formula and then entering the amounts to calculate the required sales dollars for American to break even. (Abbreviation used: CM = contribution margin.) Fixed costs Target profit ) + CM ratio =…
Green Earth Landscaping Company provides monthly and weekly landscaping and maintenance services to residential customers in the tri-city area. Green Earth has no variable administrative expense. Fixed administrative expenses for June, July, and August include: Salaries $9,300 Insurance 2,000 Depreciation 3,500 Accounting services 900 Required: Question Content Area 1. Construct an administrative expense budget for Green Earth Landscaping Company for the three summer months. Show total amounts by month and in total for the three-month period. Green Earth Landscaping CompanyAdministrative Expense BudgetFor the Summer Months June July August Total Salaries $fill in the blank f20bfe024036faf_1 $fill in the blank f20bfe024036faf_2 $fill in the blank f20bfe024036faf_3 $fill in the blank f20bfe024036faf_4 Insurance fill in the blank f20bfe024036faf_5 fill in the blank f20bfe024036faf_6 fill in the blank f20bfe024036faf_7 fill in the blank…
The average daily balance of a credit card for the month of February was $1600$1600 and the unpaid balance at the end of the month was $900$900. If the annual percentage rate is 37.2%37.2% of the average daily balance, what is the total balance on the next billing date, March 1? Round your answer to the nearest cent.
Green Earth Landscaping Company provides monthly and weekly landscaping and maintenance services to residential customers in the tri-city area. Green Earth has no variable administrative expense. Fixed administrative expenses for June, July, and August include: Salaries $9,400 Insurance 2,250 Depreciation 4,000 Accounting services 600 Required: Question Content Area 1. Construct an administrative expense budget for Green Earth Landscaping Company for the three summer months. Show total amounts by month and in total for the three-month period. Green Earth Landscaping CompanyAdministrative Expense BudgetFor the Summer Months June July August Total Salaries $___ $___ $___ $___ Insurance ____ ____ ____ ____ Depreciation ____ ____ ____ ____ Accounting services ____ ____ ____ ____ Total administrative expense $_____ $____ $____ $____ Question Content Area 2. What if Green Earth Landscaping Company's insurance rates increased at the beginning…
The phone bill for Company XYZ consists of two components. A fixed monthly subscription fee of $500 and a constant calling rate of $0.5 per minute. Assume that during February Company XYZ has a total call time of 10,500 minutes how much was the total phone bill ($) for the month of February? O a. 4,900 O b. None of the given answers O c. 4,500 O d. 5,750 O e. 5,400
The Sandhill Acres Inn is trying to determine its break-even point during its off - peak season. The inn has 50 rooms that it rents at $120 a night. Operating costs are as follows: Salaries $5,400 per month Property tax $1,300 per month Depreciation (straight-line) $1,100 per month Maintenance $120 per month Maid service $33 per room Other costs $ 63 per room Determine the inn's break-even point in number of rented rooms per month. Break - even point 1584 rooms eTextbook and Media Solution Attempts: 4 of 4 used (b) * Your answer is incorrect. Determine the inn's break- even point in sales dollars. Break-even point in sales. $
The phone bill for Company XYZ consists of two components. A fixed monthly subscription fee of $100 and a constant calling rate of $0.5 per minute. Assume that during February Company XYZ has a total call time of 10,000 minutes how much was the total phone bill ($) for the month of February? O a. 4,500 Ob. 5,100 O c. 5,000 O d. None of the given answers e. 4,900 The total conversion cost for company XYZ was five times the
Tucker Pup's Pet Resort offers dog boarding services in Chicago. Assume that in March, when dog- days occupancy was at an annual low of 150 days, the average cost per dog-day was $65. In July, when dog-days were at a capacity level of 600, the average cost per dog-day was $20. a. Develop an equation for monthly operating costs. b.Determine the average boarding cost per dog-day at an annual volume of 4,500 dog-days.
ChimneySweep provides cleaning services for residential chimneys and fireplaces. The cleaning service requires $35 in variable costs for cleaning materials. The fixed costs of labor, the company’s truck, and administrative support are $165,000 per year. ChimneySweep averages 100 service calls per month. What is the average cost per cleaning service call? Round your answer to 2 decimal places.
Golden Gate Novelties (GGN) sells souvenir key chains at the local airport. GGN charges $12.00 per chain. The variable cost for a chain, including the wholesale cost of the chain, packaging, the commission paid to the airport operator, and so on, is $10.40. The annual fixed cost for GGN is $15,000. Required: a. How many cases must Golden Gate Novelties sell every year to break even? Note: Do not round intermediate calculations. b. The owner of GGN believes that the company can sell 12,500 chains a year. What is the margin of safety in terms of the number of chains? a. Break-even point b. Margin of safety chains chains
Suppose the charge account of Black's Mailing Service at the local supply store had a 1.7% interest rate per month on the average daily balance. Find the Black's finance charge on April 1 if Black's had an unpaid balance on March 1 of $109.33, a payment of $10.00 posted on March 13, and a purchase of $29.82 posted on March 24. The billing cycle ends March 31. The Black's finance charge is S. (Round to the nearest cent as needed.)

SEE MORE QUESTIONS

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