Take me to the textYou are given the following information for Pine Hotel.Price per RoomRooms RentedVariable Costs per RoomFixed CostsDo not enter dollar signs or commas in the input boxes.Round all answers to the nearest whole number.Calculate the income from operations.$11299$46$2,420Elm HotelContribution Margin StatementSalesVariable CostsFixed Costs$$Contribution Margin $Income from Operations $ Take me to the textLonely Restaurant has determined the following amounts related to costs of menu items.Per Meal Total$4.00$3.40$2.70Direct MaterialsDirect LabourVariable OverheadFixed OverheadSelling and Administrative ExpensesDo not enter dollar signs or commas in the input boxes.Round your answer to 2 decimal places.If Lonely Restaurant plans to serve 560 meals, what is the full cost of a meal?Full Cost: $$1,064$1,000Check

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Take me to the text You are given the following information for Pine Hotel. Price per Room Rooms Rented Variable Costs per Room Fixed Costs Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Calculate the income from operations. Sales $112 99 $46 $2,420 Elm Hotel Contribution Margin Statement Variable Costs Fixed Costs $ A Contribution Margin $ $ Income from Operations $

Take me to the text You are given the following information for Pine Hotel. Price per Room Rooms Rented Variable Costs per Room Fixed Costs Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Calculate the income from operations. Sales $112 99 $46 $2,420 Elm Hotel Contribution Margin Statement Variable Costs Fixed Costs $ A Contribution Margin $ $ Income from Operations $

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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Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order Processing Costs 1 3,000 $49,620 2 1,500 30,225 4,400 72,420 2.800 49,140 2.300 41,865 25,860 37,500 3 4 S 6 7 1,200 2,000 NOTE: Round variable cost per unit answers to two decimal places, if appropriate. (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. $ 15:400 +5 24.26 * 8400 + M.SS* Correct (b.) Plot the data on a scatter diagram. Using the information from representative high-and low-volume months, develop a cost estimating equation for monthly production costs. If needed, an Excel worksheet is provided in the following link in order to create the scatter diagram: Scatter Diagram $ 15,622 X+$ 23.93 XX
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Room Revenue Transient Rooms Sold Group Rooms Sold Total Rooms Sold Operating Expenses Linen Cleaning Supplies Guest Supplies Outside Services Laundry Concierge Expense Office Supplies Reservation Expenses Reservation $150,000 Fixed Res Center Cost $180,000 Variable Reser. Center Department Cost at $6 per transient res. Total Reservation Expense 83,730 16,270 100,000 All other Expense $251,200 Total Operating Expenses Total Operating Expense Percentage $31,100 $24,000 $104,800 $24,000 $80,500 $60,000 $19,200 $581,200 $120,000
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Cost Behavior Analysis in a Restaurant: High-Low Cost Estimation Assume a Papa John's restaurant has the following information available regarding costs at representative levels of monthly sales: Cost of food sold Wages and fringe benefits Fees paid delivery help Rent on building Depreciation on equipment Utilities Supplies (soap, floor wax, etc.) Administrative costs Total Monthly sales in units 5,000 8,000 10,000 $15,000 $24,000 $30,000 4,350 4,560 4,700 1,300 2,080 2,600 1.300 1,300 1,300 400 400 400 750 840 900 150 180 200 1.500 1.500 1,500 $24.750 $34,860 $41,600 (a) Identify each cost as being variable, fixed, or mixed. Cost of food sold Wages and fringe benefits Fees paid delivery help Rent on building Depreciation on equipment Variable # Mixed ● Variable ÷ Fixed Fixed
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