The following data is available for Vaughn Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $380000 $102. $110. $124. $136. 70000 60000 $510000 The desired profit margin is $34 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. Vaughn' labor charge per hour in 2022 would be

The following data is available for Vaughn Repair Shop for 2022: Repair technicians' wages Employee benefits Overhead Total $380000 $102. $110. $124. $136. 70000 60000 $510000 The desired profit margin is $34 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. Vaughn' labor charge per hour in 2022 would be

Name: The following data is available for Vaughn Repair Shop for 2022:Repai
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Description: The following data is available for Vaughn Repair Shop for 2022:Repair technicians' wagesEmployee benefitsOverheadTotal$3800007000060000$510000The desired profit margin is $34 per labor hour. The material loading charge is 40% of invoice cost. It is

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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ohn (Head of New York's Golf Club) has given you the following per unit estimates going into his second year of operation (beginning May 1,2021) for his only product at this point; the Duffer Club: Direct material: $94 Direct labour: $31 Variable overhead: $7.72 Selling price: $168 Tax rate: 20% Monthly fixed costs: $12.67 ($38,000 total fixed costs) Practical capacity and current production level: 3,000 units A) Calculate New York's Club monthly break-even sales of the Duffer Club in both units and dollars (round to nearest dollar and next unit) B) If New York Golf Club's strategy is to just break-even for the near future, how many additional Duffer clubs (units) above the current break-even point would need to be sold each month if the company wishes to increase their currently budgeted advertising costs by $12,000 per month. Assume no changes to the selling price or to any of Duffmeister'svariable costs given above.
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…
Last year, the Boston warehouse actual annual cost (12 months) totaled $113000, with the first 5 months' costs at $30000.The actual cost of operation totaled $35000 this year at the end of month 5. Compute the projected total costs for the current year (at the end of month 12). Round your answer to the nearest dollar, if applicable. Please provide only typed answer solution no handwritten solution needed allowed... Please do it neat and clean correctly please...
Monterey Company owns a majority voting interest in Del Rey, Inc. On January 1, 2019, Monterey issued $1,000,000 of 6 percent 10-year bonds at $929,764.18 to yield 7 percent. On January 1, 2021, Del Rey purchased all of these bonds in the open market at a price of $885,067.22 with an effective yield of 8 percent. Requirements: Using the template on the “Template” tab in this provided Excel file, complete the following: In the space provided, prepare amortization schedules for the Monterey Company bonds payable and the Investment in Monterey Bonds for Del Rey, Inc. In the space provided, prepare consolidation worksheet entry “B” required at December 31, 2021 to reflect the effective retirement of the Monterey bonds. I ONLY NEED ENTERY B - THE CONSOLIDATION WORKSHEET
Wheel and Tire Manufacturing currently produces 1,000 tires per month. The following per unit data apply for sales to regular customers: Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing costs Select one: The plant has capacity for 3,000 tires and is considering expanding production to 2,000 tires. What is the total cost of producing 2,000 tires? a. $39,000 b. $78,000 C. 1. $62,000 $20 3 d. they are all wrong 6 10 $39
Am. 112.
Crane Industries produces and sells a cell phone-operated home security control systems. Information regarding the costs and sales during May 2022 is as follows. Unit selling price $45.00 Unit variable costs $25.20 Total monthly fixed costs $124,000 Units sold 8,400 Prepare a CVP income statement for Crane Industries for the month of May. (Round per unit answers to 2 decimal places, e.g. 15.25.)
Green Apple Company's 2020 manufacturing costs were as follows: Direct materials $70,000; Direct labor $50,000; Depreciation of manufacturing equipment $85,000; Depreciation of factory building $50,000; Janitor's wages for cleaning factory premises $15,000. How much of these costs should be inventoried using the throughput accounting? $50,000 $270,000 $120,000 $70,000
Am. 112.
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A division sold 250,000 calculators during 2020: Sales 3,000,000 Variable costs: Materials 690,000 Order processing 250,000 Billing labor 200,000 Selling expenses 110,000 Total variable costs 1,250,000 Fixed costs 1,500,000 How much is the unit contribution margin?
Seabold Interiors sold 18,400 yards of wallpaper last year at a contributionmargin of $3.50 per yard and incurred $49,400 in total fixed costs. This year, contribution margin per yard is expected to increase to $4, and fixed costs are expected to increase to $58,000. How many units must be sold this year to earn the same operating income as was earned last year? (Hint: Use the expanded contribution margin model described in this chapter.)a. 16,900.b. 17,500.c. 18,250.d. 20,200.e. None of the above.