Chef Amy does beginning inventory on Thursday night and finds that she has $4194 in food products in the restaurant. Throughout the week she purchases: $2088 produce, $1678 protein, $870 dry goods, and $3914 dairy. The following Thursday she does ending inventory and finds that she has $3464 in food. She looks at her sales and finds that she made $30541 over the same 7 day period. What is her total food cost? Select one: O a. $12,744 Ob. $16,208 O c. $8,550 d. $9.280
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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- SEARCH ASK CHAT MATH SOLVER BUY Cornerstones of Cost Management (Cornerstones Series) 4th Edition ISBN: 9781305970663 Author: Don R. Hansen, Maryanne M. Mowen Publisher: Cengage Learning bookmark_border expand_more Chapter 8 : Budgeting For Planning And Control expand_more Section: Chapter Questions format_list_bulleted Problem 13CE: Nashler Company has the following budgeted variable costs per unit produced: Budgeted fixed overhead... See similar textbooks Concept explainers Question The following has been extracted from the financial records of ATF Limited: Annual budgeted capacity of the plant 40,000 units Production during the year 35,000 units Opening finished goods stock 3,000 units Closing finished…C7-73 Calculate breakeven and margin of safety after hotel renovation (Learning Objective 2) Cost-Volume-Profit Analysis 437 This case is a continuation of the Caesars Entertainment Corporation serial case that began in Chapter 1. Refer to the introductory story in chapter 1 (see page 43) for additional background. (The components of the Caesars serial case can be completed in any order.) Caesars Palace® Las Vegas made headlines when it undertook a $75 million renovation. In mid-September 2015, the hotel closed its then-named Roman Tower, which was last updated in 2001, and started a major renovation of the 567 rooms housed in that tower . On January 1, 2016, the newly renamed Julius Tower reopened, replacing the Roman Tower. In addition to renovating the existing rooms and suites in the former Roman Tower, 20 guest rooms were added to the Roman Tower. With the renovation completed, Caesars expects the Julius Tower room rate to average around $149 per night. This increase, a $25 or 20…Before you begin this assignment review the Tying It All Together feature in the chapter. Best Buy Co., Inc. is a leading provider of technology products. Customers can shop at more than 1,700 stores or online. The company is also known for its Geek Squad for technology services. Suppose Best Buy is considering a particular HDTV for a major sales item for Black Friday, the day after Thanksgiving, known as one of the busiest shopping days of the year. Assume the HDTV has a regular sales price of $900, a cost of $500, and a Black Friday proposed discounted sales price of $650. Best Buy’s 2015 Annual Report states that failure to manage costs could have a material adverse effect on its profitability and that certain elements in its cost structure are largely fixed in nature. Best Buy, like most companies, wishes to maintain price competitiveness while achieving acceptable levels of profitability. (Item 1A. Risk Factors.) Requirements Calculate the gross profit of the HDTV at the regular…
- I need help filling in my spreadsheet and I have looked up in the library but everyone's answer are coming out wrong. Can you please help me because this is due tomorrow. Company Accounting Workbook Template Spreadsheet https://learn.snhu.edu/content/enforced/1059513-ACC-201-R5781-OL-TRAD-UG.22EW5/Course%20Documents/ACC%20201%20Company%20Accounting%20Workbook%20Template.xlsx?_&d2lSessionVal=z4RVl9IawPfmsxCM81JBkzX5v&ou=1059513 Accounting Data Appendix Word Document. https://learn.snhu.edu/content/enforced/1059513-ACC-201-R5781-OL-TRAD-UG.22EW5/Course%20Documents/ACC%20201%20Accounting%20Data%20Appendix%201.docx?_&d2lSessionVal=z4RVl9IawPfmsxCM81JBkzX5v&ou=1059513There are two research cases in this assignment. This assignment must be completed by 9:00 a.m. Monday, November 8, 2021. You will submit your answer directly on D2L. You may submit your response in either of the following ways: 1) following the link for the extra credit assignment under Submissions in this week’s content or 2) alternatively, you may follow the link at the top of D2L to Research and Exams. Select Research Assignment #5. (Don’t worry that D2L calls this submission a quiz). You will enter the Topic, Subtopic, Section, Paragraph in a fill in the blank question and your overall conclusion to this case. Example: ASC 100-10-45-4 (you do not need to enter what the guidance content) Research Case #1: Peronto’s Inc. is an asphalt contractor located in Kansas City, Mo. Peronto’s Inc. is planning on expanding into the Chicago market is budgeting that the start-up expenditures for the new Chicago facilities will be $25,000. These expenditures will be for the…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?
- please assist and show all workings Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing ofmasks for Mount Marlie High School. Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000 other information Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service…Personal Protective Gears & More (PPGM) design and manufacture masks for students. Afterproduction, the masks are placed into individual cases, before being transferred into Finished Goods. Theaccounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School. Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3…ompatibility Mode - Word Search Rafael Luna RL File Home Insert Draw Design Layout References Mailings Review View Help Share Comments X Times New Rom 12 AA Aa A E ALT Find Sc Replace Select AaBbCcl AaBbc AaBbCd AaBbCc. AaBbCcD Emphasis Heading 1 1 Normal Strong Subtitle Paste BIU Dictate ab x, X? ADA Sensitivity Editor Clipboard Font Paragraph Styles Editing Voice Sensitivity Editor Two projects are competing for funding at your company. The current interest rate is 5%. Project A is an Energy Saving project that costs $15,000. It doesn't save any money in Year 1. but begins in Year 2 at $1000, Year 3 at $2000, Year 4 at $3000, and Year 5 at $4000. Project B is a Water Saving project that costs $13,500. It begins saving money in Year 1 through 4 at $3000. f. Draw the cash flow diagrams g. Which should you select as the best economic alternative? Show your calculations for both alternatives for credit (and use the compound interest tables, not formulas) to justify your answer. Pay close…
- Mementos Academy Cost Validation Student Records Fees collection Staff Salaries 70,400 43,900 39,700 Data Processing 9,200 32,500 7,900 Telephone 1,700 4,600 3,000 Postage 1,500 4,000 Consumable 3,700 45,900 11,800 Electricity 1,600 3,100 3,000 Equipment Depreciation 12,200 35,800 31,900 Insurance 1,600 3,300 2,600 Students Enrolments 14,000 Required: a) Apply process costing to calculate the total cost per student enrolment b) Discuss whether the total cost per student enrolment calculated in a) provid a reliable estimate of the costs incurred to process each enrolment.Personal Protective Gears & More (PPGM) design and manufacture masks for students. After production, the masks are placed into individual cases, before being transferred into Finished Goods. The accounting records of the business reflect the following data at June 30, 2021, for the manufacturing of masks for Mount Marlie High School.Inventory 1/7/2020 30/6/2021Raw Materials $230,000 $260,000Factory Supplies $35,000 $24,000Work in Progress $348,300 $203,300Finished Goods $632,900 $485,000Other information:Sales Revenue $5,731,000Factory Supplies Purchased 64,000Direct Factory Labor 792,000Raw Materials Purchased 560,000Plant janitorial service 37,000Depreciation: Plant & Equipment 186,000Total Utilities 1 481,250Production Supervisor’s Salary 450,000Design Costs (School Logo) 26,000Packaging Cases Cost 42,000Total Insurance 2 168,000Delivery Vehicle Drivers’ Wages 181,500Depreciation: Delivery Vehicle 53,290Property Taxes 3 240,000Administrative Wages & Salaries…Having gone through the principles II class, imagine you are an intern at Floro agro florists and its end year. The Warehouse Manager is overwhelmed with work and realizes that you can just be the perfect person to help him with inventory-related issues after he realizes a glitch in some year's records. The information for the years in question has been provided as follows; 2018 2019 2020 Current Assets = 1,000 1,250 1,750 Non-Current Assets = 5,000 6,250 8,750 Total Assets = 6,000 7,500 10,500 Long term Liabilities = 2,000 2,500 3,500 Revenue = 1,000 1,250 1,750 Cost of Sales 40% on cost for all the Years Assume that ending Inventory was overstated by K1, 500 in 2018 and Understated by K10, 000 ends of 2019. Required a. Calculate the Cost of goods sold for the years 2018, 2019, and 2020 b. Calculate the Owners Equity value for the…