Which of the following is most likely to be a variable cost for a firm? A) the interest payments made on loans B) the franchiser's fee that a restaurant must pay to the national restaurant chain C) the monthly rent on office space that it leased for a year D) the payroll taxes that are paid on employee wages E) the monthly insurance payment on the plant.
Q: A firm, which sells widgets, has annual fixed costs of $16,000,000. Each widget sells for $13 and…
A: The question requires the determination of the number of units to sell to have a desired…
Q: Please answer the accounting question
A: Step 1: Define Ending Cash BalanceThe ending cash balance is the total amount of cash a company has…
Q: Calculate dynamic's net income for the year?
A: Step 1: Define Net IncomeThe net income is the surplus of revenue over the expenses incurred during…
Q: Financial Accounting
A: Long-term debt (2014): $8.2 millionLong-term debt (2015): $8.5 millionInterest expense (2015):…
Q: Tam worldly's weekly gross earning for solve this question general Accounting
A: Step 1: Calculate the Social Security Tax: Multiply gross earnings by the Social Security rate…
Q: Kindly help me with accounting questions
A: Step 1: Define Note receivableNote receivable is the promise to reimburse the amount taken by…
Q: Right Answer
A: Solution:Given:Terms of trade: 2/15,net 55Costly trade credit carried: $385,000Payment period: 55…
Q: Grill Masters Restaurant has budgeted the following costs for... Please answer the general…
A: Step 1: Compute the total variable cost by adding the material cost and the labor cost for 2,000…
Q: Dreamworks studios estimated solve this accounting questions
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a rate used to…
Q: Find out solution to this accounting question
A: Explanation of Beginning InventoryBeginning inventory is the value of goods available for sale at…
Q: I want to this question answer general Accounting
A: Step 1: Analysis of the information givenInvested assets = $700,000Sales = $750,000Income from…
Q: Provide correct answer general Accounting
A: Step 1: Define Accounts Receivables DaysAccounts receivables days is the average number of days…
Q: Don't use ai given answer accounting questions
A: To determine whether this is a good investment, we need to calculate the holding period return (HPR)…
Q: General Accounting
A: The budgeted rate for the indirect cost of the pre-diagnostic room needs to be computed by dividing…
Q: During September, KM Co. sells 9,800 watches for $300.00 each. The company has the following…
A: 1. Problem OverviewKM Co. sells 9,800 watches during September, priced at $300.00 each. The company…
Q: Financial Accounting Question
A: Step 1: Identify the formula:• COGS = Beginning Inventory + Purchases + Freight-in - Ending…
Q: Please given correct answer general accounting
A: Step 1:Gross margin is known as a company's contribution margin It is the amount that remains after…
Q: Please provide this question solution general accounting
A: Definitions:Depreciation: The systematic allocation of the cost of a tangible asset over its useful…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Units CompletedIn a process costing system, Units Completed refers to the…
Q: The Collins Company forecasts that total overhead for the current year will be $18,000,000 and that…
A: Explanation of Predetermined Overhead Rate: The predetermined overhead rate is a calculated rate…
Q: general account ?
A: Calculation of Conversion Cost Per Equivalent UnitUsing the weighted-average method, the conversion…
Q: Need help with this financial accounting question
A: Step 1: Define Holding Rate of ReturnThe holding rate of return refers to the total return earned on…
Q: A company sells its product for $33 per unit, with variable costs of $18 per unit and fixed costs…
A: To find the break-even point in units, we use the formula:Given:Selling price per unit = $33Variable…
Q: Provide correct option general accounting
A: We will use the Average Collection Period formula to determine the average time it takes for…
Q: Financial Accounting MCQ [4 points]-Which of the following is prepared first in the accounting…
A: Explanation of Journal EntriesJournal entries are the primary step in the accounting cycle where…
Q: A firm's current market value of equity is $60 million. It has 2 million shares outstanding. The…
A: The question requires the determination of the P/E ratio.The price-to-earnings (P/E) ratio measures…
Q: General accounting
A: Step 1: Introduction to time value of moneyTime value of money is a financial concept which is used…
Q: general accounting
A: Step 1: Formula for Cost per Equivalent UnitThe formula is: Cost per Equivalent…
Q: I want to this question answer general Accounting
A: To calculate Reilly's required rate of return on equity after the acquisition, we need to follow…
Q: What is the balance after adjustment?
A: Step 1: Define Allowance for Doubtful AccountsAllowance for doubtful accounts refers to the reserve…
Q: General Account
A: Concept of Plantwide Overhead Rate: The plantwide overhead rate is a single rate used to allocate…
Q: Sunset surfboards receives solve this accounting questions
A: Step 1: Definition of Incremental ContributionIncremental contribution represents the additional…
Q: General Accounting
A: Step 1: Define Return on StockIn the context of finance, the total return on a stock may be…
Q: Financial Accounting Problem: Assume that Complex Co. had credit sales of $536,000 and cost of goods…
A: Explanation of Credit Sales:Credit sales refer to sales made where the buyer is allowed to pay at a…
Q: It's average leval of receivables?
A: Step 1: Define Days' Sales In ReceivablesThe number of days that a company requires to convert its…
Q: Determine the missing amount for each of the following: Assets = Liabilities + Owner's Equity 1 $ $…
A: To determine the missing amount in each equation, we use the accounting equation:…
Q: Please provide correct answer general Accounting
A: The question requires the determination of the rate of return. A rate of return (RoR) is the net…
Q: Need answer the accounting question provide answer please
A: Step 1: Define Over- or Under-applied OverheadOver- or Under-applied Overhead represents the…
Q: The accounting equation may be expressed as: Choose the best answer. a. Assets Liabilities = Owner's…
A: The correct answer is:b. Assets - Liabilities = Owner's Equity Explanation:The accounting equation…
Q: The following information pertanis
A: Explanation of Beginning Finished Goods Inventory:Beginning Finished Goods Inventory refers to the…
Q: General accounting
A: The Holding-Period Return (HPR) is calculated as:HPR=Total Returns During Holding Period/Initial…
Q: Don't Use AI
A: Explanation of Variable Costing: Variable costing is a method where only variable production costs…
Q: Don't use ai given answer accounting questions
A: Detailed explanation:Given : Annual Revenue $ 205,000Expenses $ 113,700Dividends Paid $…
Q: Natasha Industries has a product with a selling price per unit of $136, the unit variable cost is…
A: Explanation of Contribution Margin:The contribution margin is the amount remaining after subtracting…
Q: Kindly help me with general accounting question
A: Step 1: Define Cost Of EquityFirms, while raising capital through equity, face a cost, which is the…
Q: Question related to financial accounting: During the current year, Carl Equipment Stores had net…
A: Explanation of Inventory Turnover:Inventory turnover is a financial ratio that measures how many…
Q: What is the project ending value of the inventory account?
A: Step 1: Understand the components of inventory valuationThe value of inventory is based on the…
Q: provide general account questions answer
A: To determine the correct deferred tax entry for Moore Company in 2014, we need to compute the…
Q: Krammer Company has liabilities equal to one-fourth of the total assets. Krammer's stockholders'…
A: The accounting equation states: Assets=Liabilities+Stockholders' Equity Step 1: Represent…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Overhead AllocationOverhead allocation is the process of assigning manufacturing…
Which of the following is most likely to be a variable cost for a firm?
Step by step
Solved in 2 steps
- Cost AccountSWA company is trying find costs of its products. Which of the following statements is true? A cost is: a. Always an expense. b. Always an asset. c. Something quite different from either an expense or an asset. d. Can be either an expense or an asset. e. Always a liability. MS Harius is an accounting in Lata company; the company has leased a copying machine on a monthly basis which is on a fixed fee each month in addition to a charge per copy. Technical made 2,400 copies and paid a total of $162 in rent in September and in October they paid $195 for 3,500 copies Determine the total amount that would be paid for 1,800 copies. a. Some other amount not listed here b. $138 c. $144 d. $160 e. $163An example of an uncontrollable cost would include all of the following except______. A. real estate taxes charged by the county in which the business operates B. per-gallon cost of fuel for the companys delivery trucks C. hourly rate of pay for the companys purchasing manager D. federal income tax rate paid by the company
- financial account solution need.naruHoward Cooper, the president of Thornton Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 3. Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 42,000 hours of services in Year 3. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Thornton charges customers $79 per hour, the firm can achieve 48,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the…
- Howard Cooper, the president of Stuart Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 3. Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 30,000 hours of services in Year 3. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Stuart charges customers $80 per hour, the firm can achieve 36,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the firm…Howard Cooper, the president of Vernon Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 3. Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative Required A Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 42,000 hours of services in Year 3. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Vernon charges customers $83 per hour, the firm can achieve 52,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if…A supplier hands you an invoice for $47,000 with the terms 4/20, net 180. a. ) What is the effective annual cost (expressed as an APR) if you forgo the discount and pay after 180 days?b. )What is the effective annual cost (expressed as an APR) if you pay after 200 days?
- sExercise 10-32 (Algo) Activity-Based Costing of Customers (LO 10-3, 4) Northwestern Bank (NB) offers only checking accounts. Customers can write checks and use a network of automated teller machines. NB earns revenue by investing the money deposited; currently, it averages 4.1 percent annually on its investments of those deposits. To compete with larger banks, NB pays depositors 0.3 percent on all deposits. A recent study classified the bank's annual operating costs into four activities. Activity Using ATM Visiting branch Processing transactions Managing functions Total overhead Cost Driver Number of uses Number of visits Number of transactions Total deposits Cost $ 1,936,800 1,900,800 8,521,920 7,321,600 $ 19,681,120 Driver Volume 3,228,000 uses 396,000 visits 129,120,000 transactions $ 615,035,000 in deposits Data on two representative customers follow: Emily Jacob ATM uses 40 130 Branch visits 5 Number of transactions Average deposit 200 45 520 $ 10,000 $ 10,000Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which will affect the actual cost of asset being sold for the buyer and the seller. Consider this case: Green Moose Industries buys most of its raw materials from a single supplier. This supplier sells to Green Moose on terms of 1/10, net 30. The cost per period of the trade credit extended to Green Moose is ________(1.23%, 0.89%, 1.01%, 1.05%) (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.). Green Moose’s trade credit has a nominal annual cost of _______ (22.85%, 19.17%, 16.59%, 18.43%) , assuming a 365-day year. (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) If Green Moose Industries’s supplier shortens its discount period to five days, this will _______ (Increase, Decrease) the cost of the trade credit.