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- Play Time is a nursery school for pre-kindergarten children. The school has determined that the following biweekly revenues and costs occur at different levels of enrollment: Number of StudentsEnrolled Total Revenue Total Costs 10 $ 4,300 $ 2,400 15 6,450 3,100 16 6,880 3,200 20 8,600 3,850 21 9,030 3,935 What is the marginal cost when the twenty-first student enrolls in the school?Social Media, Inc. (SMI) has two services for users. To ot!, which connects tuters with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 13,100 20,100 33,200 Revenues $ 1,800,000 $ 1,760,000 $ 3,560,000 Engineering hours 9,300 7,300 16,600 Engineering cost $ 687,750 $ 806,250 $ 1,494,000 Administrative costs $ 1,195,200 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SMI uses the number of users to allocate administrative costs. b. Based on the rates computed in requirement (a), what is the profit for each service?TechPro offers instructional courses in e-commerce website design. The company holds classes in a buildingthat it owns. Classify each of TechPro’s costs below as (a) variable (V) or fixed (F) and (b) direct (D)or indirect (I). Assume the cost object is an individual class.1. Depreciation on classroom building2. Monthly Internet connection cost3. Instructional manuals for students4. Travel expenses for salesperson5. Depreciation on computers used for classes6. Instructor wage (per class)
- What is Abado’s breakeven point in sales dollars? (Use your answer of breakeven units to calculate the breakeven point in dollars. Round Breakeven units and point in dollar to 0 decimal places, e.g. 5,275.) Abado Profiles provides testing services to school districts that wish to assess students’ reading and mathematical abilities. Last year Abado evaluated 60,000 math tests and 20,000 reading tests. An income statement for last year follows. Math Testing Reading Testing Total Per Unit Total Per Unit Total Company Sales revenue $1,200,000 $20 $720,000 $36 $1,920,000 Variable expenses 840,000 14 360,000 18 1,200,000 Contribution margin $360,000 $6 $360,000 $18 720,000 Fixed expenses 360,000 Operating income $360,000Profit Planning and Control This case is a manufacturer and could make specialty bikes, ski or outdoor equipment, computers, food like chocolates, saltwater taffy, cookies, or donuts, etc. Create the balance sheet, income statement, and statement of the cash flow from the following information. Use the following information for the learning experiences Sales volume units = 11,000 Sales price/unit = $100 Variable manufacturing costs/unit = $60 Fixed manufacturing costs = $210,000 Fixed sales & administration costs = $190,000 Business income tax rate = 25% Current assets = $250,000 (Cash $50,000, Accounts Receivables $100,000, Inventory $100,000) Fixed assets = $750,000 Current liabilities = $200,000 (Accounts Payable $100,000, Short Term Debt $100,000) Long Term Debt = $300,000 Owners' Equity = $500,000A school purchasing manager is seeking to buy tablets from either Entity A or Entity B and will pay shipping costs. The purchase price is $500 each. Entity A purchases the tablets from the manufacturer, Banana Industries (for $400). Entity A has the tablets shipped to its distribution center in Denver, and then ships them to schools when a sale is made. Entity A at times offers discounts to schools in accordance with its marketing strategy. On the other hand, Entity B sells tablets from a variety of manufacturers including Banana Industries. When a sale is made, Entity B remits the proceeds to the manufacturer, and retains a 10% commission (here $50). Entity B has no discretion as to the sales price. The manufacturer then ship the equipment to the customer. For each arrangement, indicate how much revenue and gross profit should be recognized. Provide support for your answer from the ASC and cite the applicable provisions. You should cite like this: ASC 606-10-35-3(e) so we can find…
- Identify the activity ratio of a computer shop is its Cost of Goods Sold is P12 million and the Average Inventory is P24 million.Show your solution, analyze and interpret your answer. Compute the return on asset of AR Grocery Store if the net profit after taxes is P10 million and its total assets is P100 million. Analyze and interpret your answer.Julianna Abdallah owns and operates FirstCakes, a bakery that creates personalized birthday cakes for a child’s first birthday. The cakes, which sell for $56 and feature an edible picture of the child, are shipped throughout the country. A typical month’s results are as follows: Sales revenue $749,280 Variable expenses 561,960 Contribution margin 187,320 Fixed expenses 133,000 Operating income $ 54,320 How many cakes will Julianna Abdallah have to sell if she wants to earn $171,654 in operating income each month? cakes LINK TO TEXT LINK TO VIDEO Assuming a 30% tax rate, how many cakes will Julianna Abdallah have to sell if she wants to earn $74,284 in net income each month? (Round answer to 0 decimal places, e.g. 5,275.) cakesSocial Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 15,500 22,100 37,600 Revenues $ 2,000,000 $ 2,080,000 $ 4,080,000 Engineering hours 10,400 8,400 18,800 Engineering cost $ 881,000 $ 999,000 $ 1,880,000 Administrative costs $ 1,504,000 The company is considering using a two-stage cost allocation system and wants to assess the effects on reported product profits. The company is considering using Engineering Hours and Users as the allocation base. Additional information follows. Toot! TiX Total Engineering hours 10,400 8,400 18,800 Users 15,500 22,100 37,600 Engineering-hour related administrative cost $ 199,280 User-related…
- Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TIX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! Tix Total Users 15,500 22,100 37,600 Revenues $2,000,000 $2,080,000 $4,080,000 Engineering hours 10,4000 8,400 18,800 Engineering cost $ 881,000 $ 999,000 $1,880,000 Administrative costs…Please show your solution in good accounting form. Thank you! JINN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the…ABC operates a consignment shop where she sells clothes for women and children. The average number of consignments sold per month is 1,000. The average material cost and the selling price of each consignment are $8 and $20, respectively. The monthly fixed costs to run this business are given below: Rental cost: $750Utilities: $150Advertising: $35Insurance: $100Labor cost: $4,000 Using Excel spreadsheet / worksheet, determine Anna's profit. Attach excel solution.