Please given answer accounting The ACC Tutoring Service provides tutoring to accounting students. Thevolume of tutoring is low at the beginning of the semester and increasesbefore exams. ACC had its highest level of service in May when theyprovided 4,300 hours of tutoring at a total cost of $125,000 and its lowestlevel of service in January when they provided, 1,500 hours of tutoring ata total cost of $55,000.Using the high-low method, what are the estimated fixed costs?

Step 1: Define Cost ClassificationCosts or expenses can be categorized as variable cost, fixed cost…

Answered: The ACC Tutoring Service provides…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 2TIF

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R&R Savings Bank finds that its basic transaction account, which requires a $1000 minimum balance, costs this savings bank an average of $3.25 per month in servicing costs (including labor and computer time) and $1.25 per month in overhead expenses. The savings bank also tries to build in a $0.50 per month profit margin on these accounts. Further analysis of customer accounts reveals that for each $100 above the $500 minimum in average balance maintained in its transaction accounts, R&R Savings saves about 5 percent in operating expenses with each account. (Note: If the bank saves about 5 percent in operating expenses for each $100 held in balances above the $500 minimum, then a customer maintaining an average monthly balance of $1,000 should save the bank 25 percent in operating costs) For a customer who consistently maintains an average balance of $1,200 per month, how much should the bank charge in order to protect its profit margin? 05.00 4.68 O 0.32 325
Southeastern Oklahoma State University's business program has the facilities and faculty to handle an enrollment of 2,200new students per semester. However, in an effort to limit class sizes to a "reasonable" level (under 200, generally), Southeastern's dean, Holly Lutze, placed a ceiling on enrollment of 1,500new students. Although there was ample demand for business courses last semester, conflicting schedules allowed only 1,420 new students to take business courses. The utilization rate for Southeastern =______% (enter your response as a percentage rounded to one decimal place).
*THIS IS THE LAST PART OF THE QUESTION- THE IMAGE ARE THE FIRST PART THIS IS THE ENDING* A&R bills audit services based on billable hours and advising services at a fixed fee. The cost for audit services is determined by multiplying the billable hours by the quoted employee rates. Staff rates for the following year are $370 per hour and manager rates are $925 per hour. The rates are set to meet the competition in the area. To determine the cost (not the price) of the job. A&R uses a job costing system. To the employee costs (not the billing rates) is added an amount for overhead based on the predetermined rate and the billable hours in the job. The predetermined rate is based on expected billable hours. Total revenue at A&R next year is expected to be $16 million. The two founding partners of A&R are looking at these forecasts for next year and trying to decide whether to drop one of these services. "We should probably become more focused, as we sometimes remind our…
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Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting at State University. Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Sales (28,200 units) Variable expenses: Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Net operating loss Units produced Units sold $ 490,680 180, 480 Variable costs per unit: Direct materials Direct labor 249,600 219, 240 Variable manufacturing overhead Variable selling and administrative Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as…
Assume that you are one of the owners of Pinoy Corporation. Upon reviewing the project income statements as shown in Tables 7.3 and 7.4 you realized that salaries are understated because it only accounts for the 12 months of salary of each employee and does not include the 13th month pay, which is required by law. You also feel that cost of goods sold ought to be computed at 45% instead of 40% of salles revenues. Using a spreadsheet program, revise the projected income statements for the first year and the first three years of the business.
Pine Valley
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Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting at State University. Sales (28,000 units) Variable expenses: Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses: Fixed manufacturing overhead $ 1,120,000 $ 464,800 179,200 644,000 476,000 es Fixed selling and administrative Net operating loss 248,000 240,000 488,000 $ (12,000) Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support for a bank loan. Another friend, a CPA, insists that the company should be using absorption…
Louis Petit, a manager of Doggone Gorgeous, Inc., was reviewing the water bills of a dog daycare and spa. He determined that its highest and lowest bills of $3,800and $2,000 were incurred in the months of May and November, respectively. If 600 dogs were washed in May and 100 dogs were washed in November, what was the fixed cost associated with the company's water bill? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A.$ 2 comma 000 $2,000 B.$ 1 comma 800 $1,800 C.$ 1 comma 640 $1,640 D.$ 3 comma 800
Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following Income statement for the first quarter was prepared by a friend who just completed a course in managerial accounting at State University. Sales (28,500 units) variable expenses: Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Net operating loss $ 1,140,000 $ 473,100 179,550 652,650 487,350 $ 283,500 217,350 500,850 $ ( 13,500) Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she hoped to use the statement as support for a bank loan. Another friend, a CPA, Insists the company should be using absorption costing rather…

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