The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin canaccommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-siteregardless of the number of campers enrolled.Following is the cost information for Camp Rainbow's operations last summer:Week12345678Number of Cost to RunCamp$10,010Campers138941621161241321521688,28011,360Required 4 Required 59,8709,030Required:4. Using the high-low method, calculate Camp Rainbow's total fixed operating costs and variable operating cost per child.5. Using the high-low method results, calculate the camp's expected operating cost if 152 children attend a session.11,89012,11012,720Complete this question by entering your answers in the tabs below.Fixed CostVariable Cost per ChildUsing the high-low method, calculate Camp Rainbow's total fixed operating costs and variable operating cost per child. (Roundyour intermediate calculations and "Variable Cost per unit" to 2 decimal places.) Required:4. Using the high-low method, calculate Camp Rainbow's total fixed operating costs and variable operating cost per child.5. Using the high-low method results, calculate the camp's expected operating cost if 152 children attend a session.Complete this question by entering your answers in the tabs below.Required 4 Required 5Using the high-low method results, calculate the camp's expected operating cost if 152 children attend a session. (Round yourintermediate calculations and final answer to 2 decimal places.)Expected Cost< Required 4Required 5

The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…

Answered: The camp provides all food as well as…

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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Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzeria’s owner has determined that the shop has two major cost drivers—the number of pizzas sold and the number of deliveries made. The pizzeria’s cost formulas appear below: Fixed Cost per Month Cost per Pizza Cost per Delivery Pizza ingredients $ 4.90 Kitchen staff $ 6,010 Utilities $ 660 $ 0.80 Delivery person $ 2.60 Delivery vehicle $ 680 $ 2.00 Equipment depreciation $ 440 Rent $ 1,970 Miscellaneous $ 780 $ 0.10 In November, the pizzeria budgeted for 1,710 pizzas at an average selling price of $20 per pizza and for 190 deliveries. Data concerning the pizzeria’s actual results in November were as follows: Actual Results Pizzas 1,810 Deliveries 170 Revenue $ 36,800 Pizza ingredients $ 8,110 Kitchen staff $ 5,950 Utilities $ 910 Delivery person $…
Sterling Hotel uses activity-based costing to determine the cost of servicing customers. There are three activity pools: guest check-in, room cleaning, and meal service. The activity rates associated with each activity pool are $8.10 per guest check-in, $24.00 per room cleaning, and $4.00 per served meal (not including food). Tara Stone visited the hotel for a 4-night stay. Tara had 5 meals in the hotel during the visit. Determine the total activity-based cost for Stone's visit during the month. Round your answer to the nearest cent.$fill in the blank 1
Sagar
Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 2.9 27 1.65 ounces gallons hour Standard Rate $0.50 Standard Unit Cost per ounces $1.45 1.08 19.80 $0.04 per gallons $12.00 per hour During the month of July, Collin's employees gave 470 baths. The actual results were 785 ounces of shampoo used (cost of $471.00), 7,700 gallons of water used (cost of $616), and labor costs for 410 hours (cost of $5,371). Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts, direct labor variances for the month of July. Note: Indicate the effect of each variance by selecting "F" for…
Mosbius Designs, an architectural firm based in the Upper West Side of New York. Currently, Mosbius Designs is run single-handedly by its owner, Ted Mosby. Ted is considering hiring an assistant, PJ, to help him answer phone calls as business picks up. For the year ended December 31, 2009, Mosbius Designs produced 200 design plans. The following information was provided for 2009: Sales Revenue $250,000 Variable Costs $50,000 Fixed Costs $25,000 If the company hires PJ, Ted believes he can raise the price of each design by $250 due to the improved level of customer service. He will also be able to produce 50 more designs in a year with the extra time. However, the annual fixed costs will increase by the amount of PJ's salary, $55,000. Based on the above information, which of the following statements is incorrect? Question 5 options: The company's contribution margin per unit in 2009 was $1,000. If the company hires PJ, the company must make $96,000…
Waterways has two major public-park projects to provide with comprehensive irrigation in one of its service locations this month. Job J57 and Job K52 involve 15 acres of landscaped terrain, which will require special-order, sprinkler heads to meet the specifications of the project. Using a job cost system to produce these parts, the following events occurred during December.Raw materials were requisitioned from the company’s inventory on December 2 for $5,091; on December 8 for $1,050; and on December 14 for $3,495. In each instance, two-thirds (2/3) of these materials were for J57 and the rest for K52.Six time tickets were turned in for these two projects for a total amount of 18 hours of work. All the workers were paid $17.5 per hour. The time tickets were dated December 3, December 9, and December 15. On each of those days, 6 labor hours were spent on these jobs, two-thirds (2/3) for J57 and the rest for K52.The predetermined overhead rate is based on machine hours. The expected…
Food Service Corp. offers a meal service for commuting college students. In the month of January, 2,000 meals were served at a total cost of $9,700. In February, 1,450 meals were served at a total cost of $7,300, and the total number of meals served for March were 1,100 at a total cost of $6,100. Using the high-low method, the variable cost per unit is $4.00. What is the total fixed cost and the total variable cost for January? a. The total fixed cost is $8,000, and the variable cost is $1,700. b. The total fixed cost is $5,600, and the variable cost is $4,100. O c. The total fixed cost is $4,100, and the variable cost is $5,600. d. The total fixed cost is $1,700, and the variable cost is $8,000.
Cathy, the manager of Cathy’s Catering, Inc., uses activity-based costing to compute the costs of her catered parties. Each party is limited to 20 guests and requires 5 people to serve and clean up. Cathy offers two types of parties—an afternoon picnic and an evening formal dinner. The breakdown of the costs follows. Activities (and cost drivers) Afternoon Picnic Formal Dinner Advertising (parties) $ 125 per party $ 125 per party Planning (parties) $ 50 per party $ 144 per party Renting equipment (parties, guests) $ 55 per party plus $13 per guest $ 77 per party plus $24 per guest Obtaining insurance (parties) $ 230 per party $ 375 per party Serving (parties, servers) $ 40 per server per party $ 66 per server per party Preparing food (guests) $ 22 per guest $ 35 per guest Per party costs do not vary with the number of guests. Required: a. Compute the cost of a 20-guest afternoon picnic. b. Compute the cost of a 20-guest evening formal dinner. c. How much…
The Housekeeping Department of Micanopy Hospital has direct costs of $500,000. The hospital's four patient service departments utilize the following amounts of space:Department A = 1,000 square feetDepartment B = 2,000 square feetDepartment C = 3,000 square feetDepartment D = 4,000 square feet Assuming that the cost driver for housekeeping costs is the amount of occupied space, what is the allocation of housekeeping costs to each department? Show all work. ....typing only
Show all work using Excel formulas (you must submit an Excel worksheet showing your work) FPPT Clinic offers Family Practice and Physical Therapy services at its location. The Family Practice Department generates $4,000,000 in revenue per year and the Physical Therapy Department generates $850,000 in revenue per year. The Family Practice Department occupies 80,000 square feet and the Physical Therapy Department occupies 40,000 square feet. Expenses for the departments are: Salaries/Wages & Benefits Other Expenses Family Practice $1,885,000 $1,226,000 Physical Therapy $400,000 $261,111 The Clinic is supported by three cost centers - Human Resources, Accounting, and Housekeeping services. Cost for those services are: Human Resources: $100,000 Accounting: $100,000 Housekeeping: $75,000 Allocate the costs for each of the three cost centers to the Family Practice Department and Physical Therapy Department. For each cost center, select a driver that you think is fair and allocate the cost…
Hartley Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Hartley Uniforms reports the following cost data for the past year: Budget Actual 7,600 hours 6,100 hours Direct labor hours Machine hours 7,200 hours 6,300 hours Depreciation on salespeople's autos $23,000 $23,000 Indirect materials $48,500 $50,500 Depreciation on trucks used to deliver uniforms to customers solla $13,000 $70,000 $40,000 $11,000 Depreciation on plant and equipment Indirect manufacturing labor $72,500 $42,000 Customer service hotline $19,000 $21,000 Plant utilities $35,900 $38,400 Direct labor cost $72,500 $85,500 Requirements 1odel tba 1. Compute the predetermined manufacturing overhead rate. 2. Calculate the allocated manufacturing overhead for the past year. 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? 4. How can managers usA acco
Cathy, the manager of Cathy’s Catering, Inc., uses activity-based costing to compute the costs of her catered parties. Each party is limited to 20 guests and requires 5 people to serve and clean up. Cathy offers two types of parties—an afternoon picnic and an evening formal dinner. The breakdown of the costs follows. Activities (and cost drivers) Afternoon Picnic Formal Dinner Advertising (parties) $ 81 per party $ 81 per party Planning (parties) $ 54 per party $ 124 per party Renting equipment (parties, guests) $ 49 per party plus $12 per guest $ 71 per party plus $23 per guest Obtaining insurance (parties) $ 220 per party $ 355 per party Serving (parties, servers) $ 58 per server per party $ 70 per server per party Preparing food (guests) $ 18 per guest $ 31 per guest Per party costs do not vary with the number of guests. Required: a. Compute the cost of a 20-guest afternoon picnic. b. Compute the cost of a 20-guest evening formal dinner. c. How much…

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