Managerial Accounting (4th Edition)
4th Edition
ISBN: 9780133428377
Author: Karen W. Braun, Wendy M. Tietz
Publisher: PEARSON
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Chapter 3, Problem 3.53BP
1.
To determine
To prepare: Prepare the
2.
To determine
To calculate: Calculate the total profit and per unit profit for the job 298.
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Cindy's Limo Service provides transportation services in and around
Middleville. Its profits have been declining, and management is planning
to add a package delivery service that is expected to increase revenue
by $275,000 per year. The total cost to lease additional delivery vehicles
from the local dealer is $60,000 per year. The present manager will
continue to supervise all services. Due to expansion, however, the labor
costs and utilities will increase by 40%. Rent and other costs will
increase by 15%.
Cindys Limo Service
Annual Income Statement
Before Expansion
Sales revenue
Costs:
Vehicle leases
Labor
$ 9,60,000
4,00,000
Utilities
Rent
Other costs
Managers salary
Total costs
2,90,000
50,000
1,00,000
60,000
1,20,000
$ 10,20,000
-$60,000
Operating profit (loss)
What are the total differential costs that will be incurred as a result of
the expansion?
Give me answer general accounting question
Need Accounting solutions.
Chapter 3 Solutions
Managerial Accounting (4th Edition)
Ch. 3 - Prob. 1QCCh. 3 - 2. (Learning Objective 2) Which of the following...Ch. 3 - 3. (Learning Objective 2) Which of the following...Ch. 3 - 4. (Learning Objective 3) The amount of...Ch. 3 - 5. (Learning Objective 4) Which of the following...Ch. 3 - (Learning Objective 5) Which of the following is...Ch. 3 - 7. (Learning Objective 5) Assuming the amount of...Ch. 3 - 8. (Learning Objective 6) Whenever direct...Ch. 3 - 9. (Learning Objective 6) When a job is completed,...Ch. 3 - 10. (Learning Objective 7, Appendix) Which of the...
Ch. 3 - S3-1 Decide on product costing system (Learning...Ch. 3 - S3-2 Determine the flow of costs between inventory...Ch. 3 - S3-3 Understanding key document terms in a job...Ch. 3 - S3-4 Compute a professional billing rate (Learning...Ch. 3 - Prob. 3.5SECh. 3 - S3-6 Continuation of S3-5: compute total allocated...Ch. 3 - S3-7 Continuation of S3-6: determine over- or...Ch. 3 - Prob. 3.8SECh. 3 - S3-9 Calculate job cost and billing at appliance...Ch. 3 - S3-10 Ramifications of overallocating and...Ch. 3 - S3-11 Record purchase and use of materials...Ch. 3 - S3-12 Record manufacturing labor costs (Learning...Ch. 3 - S3-13 Recompute job cost at a legal firm (Learning...Ch. 3 - Prob. 3.14SECh. 3 - S3-1 5 Understanding key terms (Learning...Ch. 3 - E3-1 6A Identify type of costing system (Learning...Ch. 3 - E3-17 A Understand the flow of costs in a job cost...Ch. 3 - Prob. 3.20AECh. 3 - E3-18A Compute a predetermined overhead rate and...Ch. 3 - E3-19A Compute a predetermined overhead rate and...Ch. 3 - E3-21A Sustainability and job costing (Learning...Ch. 3 - E3-22A Determine the cost of a job (Learning...Ch. 3 - Prob. 3.23AECh. 3 - E3-24A Analyze manufacturing overhead (Learning...Ch. 3 - E3-25A Record manufacturing overhead (Learning...Ch. 3 - E3-26A Record journal entries (Learning Objectives...Ch. 3 - E3-27 A Analyze T-accounts (Learning Objectives 2,...Ch. 3 - Prob. 3.28AECh. 3 - Prob. 3.29AECh. 3 - E3-30B Identify type of costing system (Learning...Ch. 3 - E3-31 B Understand the flow of costs in a job cost...Ch. 3 - Prob. 3.34BECh. 3 - Prob. 3.32BECh. 3 - Prob. 3.33BECh. 3 - Prob. 3.35BECh. 3 - E3-36B Determine the cost of a job (Learning...Ch. 3 - Prob. 3.37BECh. 3 - Prob. 3.38BECh. 3 - Prob. 3.39BECh. 3 - E3-40B Record journal entries (Learning Objectives...Ch. 3 - Prob. 3.41BECh. 3 - Prob. 3.42BECh. 3 - Prob. 3.43BECh. 3 - P3-44A Analyze Manufacturing Overhead (Learning...Ch. 3 - P3-45A Use job costing at an advertising agency...Ch. 3 - Prob. 3.46APCh. 3 - Prob. 3.47APCh. 3 - P3- 48A Determine and record job costs (Learning...Ch. 3 - Prob. 3.49APCh. 3 - Prob. 3.50BPCh. 3 - Prob. 3.51BPCh. 3 - Prob. 3.52BPCh. 3 - P3-53B Prepare job cost record (Learning...Ch. 3 - Prob. 3.54BPCh. 3 - Prob. 3.55BPCh. 3 - Discussion Questions 1. Why would it be...Ch. 3 - Unwrapped or How Its Made Go to www.YouTube.com...Ch. 3 - A3-58 Ethics involved with choice of cost driver...Ch. 3 - Prob. 3.59ACTCh. 3 - Issues with cost of job (Learning Objectives 2, 3,...
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- Silver Enterprises started the year with the following: Assets $70,000; Common Stock $20,000; Retained Earnings $10,000. During the year, the company earned revenue of $25,000, all of which was received in cash, and incurred expenses of $20,000, half of which were unpaid as of the end of the year. In addition, the company paid dividends of $5,000 to owners. Assume no other activities occurred during the year. Determine the amount of Silver's liabilities at the end of the year.arrow_forwardHow much gross profit was realized from this sale on this general accounting question?arrow_forwardMartinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its unit costs are as follows: Amount Per Unit Direct materials $ 6 Direct labor $ 3.50 Variable manufacturing overhead $ 1.50 Fixed manufacturing overhead $ 4 Fixed selling expense $ 3 Fixed administrative expense $2 Sales commissions $ 1 $ 0.50 Variable administrative expense Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? 3. If 8,000 units are sold, what is the variable cost per unit sold? 4. If 12,500 units are sold, what is the variable cost per unit sold?arrow_forward
- Which of the following is included in inventory costs? A. Period costs. B. Product and period costs. C. Product costs. D. Neither product or period costs.arrow_forwardI want to this question answer please solve this question general Accountingarrow_forwardExpert of general account please solve. asap.arrow_forward
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