9 HW ik■Khttp://mcesInstructor wagesClassroom suppliesUtilities/ext/map/indexhtml?_con conexternal browser 08launchUrl=https%253A%252F%252Fims.mheducation.com%252Fmghmiddleware%252FmeThe Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses inits budgeting and performance reports-the number of courses and the total number of students. For example, the school might run.two courses in a month and have a total of 62 students enrolled in those two courses. Data concerning the company's cost formulasappear below:Compus rentInsuranceAdministrative expensesRevenueInstructor wagesClassroom suppliesUtilitiesFixedCost perMonth$ 1,210$5,200$ 2,300$ 3,800Compus rentInsuranceAdministrative expensesCost perCourse$ 2,930$ 70$ 44For example, administrative expenses should be $3,800 per month plus $44 per course plus $5 per student. The company's salesshould average $870 per student.Actual$ 51,040$ 11,000.$ 18,450$1,900$ 5,200$ 2,440$ 3,712cost perStudent$ 300The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58students. The actual operating results for September were as follows:$5Anitural ResultsSevedRequired:Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.Gourmand Cooking SchoolFlexible Budget Performance ReportFor the Month Ended September 30FlexiblePlanningBadnat cesThe company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58students. The actual operating results for September were as follows:RevenueInstructor wagesClassroom suppliesUtilitiesCampus rentInsuranceAdministrative expensesRequired:Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.CoursesStudentsRevenueExpensesInstructor wagesClassroom suppliesUtilitiesCampus rentInsuranceAdministrative expensesTotal expenseNet operating incomeActual$ 51,040$ 11,000$ 18,450$ 1,900$ 5,200$ 2,440$ 3,712$Actual ResultsSGourmand Cooking SchoolFlexible Budget Performance ReportFor the Month Ended September 3045851,04011,00018,4501,9005.2002,4403.71242.7028,338FlexibleBudgetPlanningBudget

The flexible budget reports repesent actual results of production, flexible budget and planning…

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below Instructor wages Classroom supplies utilities Campus rent Insurance Administrative expenses Fixed Cost per Cost per Cost per Month Course Student $ 2,930 5.70 $ 1,210 $ 5,200 $ 2,300 $ 3,800 $44 $ 300 $5 For example, administrative expenses should be $3,800 per month plus $44 per course plus $5 per student. The company's sales should average $870 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September were as follows:

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below Instructor wages Classroom supplies utilities Campus rent Insurance Administrative expenses Fixed Cost per Cost per Cost per Month Course Student $ 2,930 5.70 $ 1,210 $ 5,200 $ 2,300 $ 3,800 $44 $ 300 $5 For example, administrative expenses should be $3,800 per month plus $44 per course plus $5 per student. The company's sales should average $870 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September were as follows:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Would you like to set Microsoft Edge as your default browser? Set as default of 5 Q ACtIvity 2: The following data are from the costing records of ABC Ltd. in respect of Job No. 14: Materials used BD. 2500 Direct Wages: Department A - 30 hours at BD. 6 per hour Department B - 50 hours at BD. 5 per hour Department C- 20 hours at BD. 2 per hour Overhead for these three departments were estimated as follows: Variable overheads: Department A - BD. 10000 for 2000 Direct labour hours to Department B - BD. 60000 for 3000 Direct labour hours emai Department c - BD. 80000 for 2000 Direct labour hours Fixed overheads: BD7 for 100 working hours from You are required to calculate the total cost of the above Job No.14 using job-order costing system a qu as well the price for the job to give a profit of 20% of sales. bne-tim Darticulare 888-888-8888 Ta
* CengageNOWv2 | Online te x My Questions | bartleby keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false * 司 Upd Print Item Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The first employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour for each chest. The next employee takes the wood and cuts it to the proper size. This takes 30 minutes. The next employee assembles and sands the chest. Assembly takes 2 hours. The chest then goes to the finishing department. It takes 1.5 hours to finish the chest. All employees are cross-trained so they are all paid the same amount per hour, $19.60. A. What are the standard hours per chest? Standard hour per chest hours B. What is the standard cost per chest for labor? Round your answer to two decimal places.…
3 s E2-12 (Algo) Applying Job Order Costing in a Service Setting [LO 2-3, 2-4, 2-7] Optimum Health Incorporated provides diet, fitness, and nutrition services to clients who want a healthier lifestyle. The company customizes a program for each client based on their individual goals that includes diet recommendations (prepackaged food and supplements), nutrition counseling, and guided fitness (personal training). The company uses a modified job order cost system that keeps track of the cost of the food, vitamins, and nutritional supplements the company provides to each client, as well as the amount of time nutrition and fitness consultants spend with each client. Optimum applies all indirect operating costs (e.g., rent, utilities, and management salaries) as a percentage of the consultant's labor cost. During the most recent year, the firm estimated that it would pay $140,000 to its consultants and incur indirect operating costs of $210,000. Actual consultant labor costs were $155,000…
O UIMWiFi > Login O Sci-Hub: removing. Oth Costing Saved Help Save & Ex Strzelecki Corporation uses the step-down method to allocate service department costs to operating departments. The company has two service departments, Service Department A and Service Department B, and two operating departments, Operating Department X and Operating Department Y. Data concerning those departments follow: Service Departments Operating Departments Operating Service Service Operating Department A Department B $ 43,000 Department X Department Y $ 31,000 $ 251,800 $ 311,700 Departmental costs Allocation base A 4,900 2,000 26,000 12,e00 Allocation base B 6,000 2,000 32, еее 4,000 Service Department A costs are allocated first on the basis of allocation base A and Service Department B costs are allocated second on the basis of allocation base B. The total Operating Department Y cost after allocations is closest to: Multiple Choice $321,000 ENG
ps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Flms.mheducati... A ☆ Homework Problems i Fixed costs: Occupancy costs Salaries Other Variable costs (including cost of paint) Rainbow Paints operates a chain of retail paint stores. Although the paint is sold under the Rainbow label, it is purchased from an independent paint manufacturer. Guy Walker, president of Rainbow Paints, is studying the advisability of opening another store. His estimates of monthly costs for the proposed location are as follows. a. Contribution margin ratio Break-even sales volume in dollars Break-even sales volume in gallons c. Operating income for 2,200 Gallons Operating income for 2,600 Gallons % Saved $ 3,160 3,640 1,200 $ Ch
Problem 4-14 (Algo) Compute and Use Activity Rates to Determine the Costs of Serving Customers [LO4-2, LO4-3, LO4-4] Gino’s Restaurant is a popular restaurant in Boston, Massachusetts. The owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based costing study. The intern, in consultation with the owner, identified the following major activities: Activity Cost Pool Activity Measure Serving a party of diners Number of parties served Serving a diner Number of diners served Serving drinks Number of drinks ordered A group of diners who ask to sit at the same table is counted as a party. Some costs, such as the costs of cleaning linen, are the same whether one person is at a table or the table is full. Other costs, such as washing dishes, depend on the number of diners served. Data concerning these activities are shown below: Serving a Party Serving a Diner Serving Drinks…
Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, andConstruct a Cost FunctionRefer to the information for Pizza Vesuvio on the previous page. PizzaVesuvio's controller wants to calculate the fixed and variable costsassociated with labor used in the restaurant.Required:Using the high-low method, calculate the fixed cost of labor, calculatethe variable rate per employee hour, and construct the cost formula fortotal labor cost.Use the following information for Brief Exercises 3-17 through 3-20:
enow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmen... Z G Not syncing ebOOK Show Me HOW PINt itemT Support department cost allocation-sequential method Crystal Scarves & Co. produces winter scarves. The scarves are produced in the Cutting and Sewing departments. The Maintenance and Security departments support these production departments, and allocate costs based on machine hours and square feet, respectively. Information about each department is provided in the following tabie: Department Total Cost Number of Employees Machine Hours Square Feet Maintenance Department $ 2,300 6. 57 800 Security Department 3,000 4 600 Cutting Department 19,600 20 3,700 3,200 20,800 18 5,550 4,000 Sewing Department Using the sequential method and allocating the support department with the highest costs first, allocate all support department costs to the production departments. Then compute the total cost of each production department. Cutting Sewing Department Department 1,936.…
View Policies Current Attempt in Progress Classify the following costs as productor period costs by selecting an "X" in the appropriate columns. Cost of pineapple at Dole Pineapple Salary of production supervisor at Nestles Chocolate Salary of security guard at Ethan Allen Furniture factory Wages of assembly line workers at Slim-Fast production plant Cost of shipping goods for goods ordered online from JCPenney Cost of lubricant used on automobile door hinges at Toyota factory Cost of glue used to attach label to jars at Smuckers Cost of plastic bottles used to bottle Coca-Cola Cost of mustard used at Joe's Hot Dog Stand Salary of Joe, who makes hot dogs at Joe's Hot Dog Stand eTextbook and Media Save for Later Direct Material > > > > > > Attempts: 0 of 4 used Period Cost > > > Submit Answer
TechPro offers instructional courses in e-commerce website design. The company holds classes in a building that it owns. Identify each of TechPro’s costs below as (a) variable or fixed and (b) direct or indirect by selecting the appropriate dropdowns. Assume the cost object is an individual class. Variable or Fixed Direct or Indirect 1. Instructional manuals for students 2. Advertising Fixed Indirect 3. Salesperson salary 4. Sales commissions 5. Computer printer ink 6. Depreciation on classroom building
ROXY Tires the manufacturer and exported company of tires. The company uses an activity based costing system for its overhead costs. The company has provided the following data concerning its activity-based costing system. Activity Cost pool Activity Measure Annual Activity Supporting Direct Labor Direct labor Hour $28 per DLH Order Processing Order $285 per Order Custom design processing Custom design $185 per customer design Customer service customer $378 per customer Management would like an analysis of the profitability of a particular customer, Roxy Tires, which has ordered the following products over the last 12 months: Items…………………………….standard model……………….customer Design Number of Tires…………………20………………………………5 Number of orders……………….1……………………………….5 Number of customer designs……0………………………………5 Direct labor hour per Tires 26.5…………………………….28 Selling price per…
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A% merica AS... rk i Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) $ 150.00 98.00 Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 51,000 units per quarter. The following additional information is available. 49.00 63.00 $360.00 70% 35,700 249,900 Direct materials (1,377,000 pounds @ $5.00 per pound)…