Current Attempt in Progress Concord rents DVDS that are mailed out to customers upon demand. Concord has identified three activities involved in getting the videos to its customers. Information on those activities for the month of July follows: Estimated Overhead Cost Expected Use of Cost Drivers Cost Pools Cost Drivers Order taking costs $20230 Number of orders 202300 orders Technology support Number of 234700 minutes 11300 minutes Picking and shipping Number of DVDs 36920 330800 DVDS costs During July, the Tucker family placed 18 orders consisting of 23 DVDS. Tucker required 6 minutes of tech support. Customers pay $12 per month to rent unlimited DVDS. Using ABC, how much overhead is applied to the Tucker family account for order taking costs? O $4.10 O $1.80 O $2.30 O $6.40 Attempts: 0 of 1 used Save for Later Submit Answer 9:24 P 10/13/2 hp

Current Attempt in Progress Concord rents DVDS that are mailed out to customers upon demand. Concord has identified three activities involved in getting the videos to its customers. Information on those activities for the month of July follows: Estimated Overhead Cost Expected Use of Cost Drivers Cost Pools Cost Drivers Order taking costs $20230 Number of orders 202300 orders Technology support Number of 234700 minutes 11300 minutes Picking and shipping Number of DVDs 36920 330800 DVDS costs During July, the Tucker family placed 18 orders consisting of 23 DVDS. Tucker required 6 minutes of tech support. Customers pay $12 per month to rent unlimited DVDS. Using ABC, how much overhead is applied to the Tucker family account for order taking costs? O $4.10 O $1.80 O $2.30 O $6.40 Attempts: 0 of 1 used Save for Later Submit Answer 9:24 P 10/13/2 hp

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 3P: Ohio Logistics manages the logistical activities for firms by matching companies that need products...

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The following events occur during September: Webworks purchases supplies worth $120 on account. At the beginning of September, Webworks had 19 keyboards costing $100 each and 110 flash drives costing $10 each. Webworks has decided to use perpetual FIFO to cost its inventory. On account, Webworks purchases thirty keyboards for $105 each and fifty flash drives for $11 each. Webworks starts and completes five more Web sites and bills clients for $3,000. Webworks pays Nancy $500 for her work during the first three weeks of September. Webworks sells 40 keyboards for $6,000 and 120 flash drives for $2,400 cash. Webworks collects $2,500 in accounts receivable. Webworks pays off its salaries payable from August. Webworks pays off $5,500 of its accounts payable. Webworks pays off $5,000 of its outstanding note payable. Webworks pays Leon salary of $2,000. Webworks pays taxes of $795 in cash. Required: Prepare journal entries for the above events. Post the journal entries to T-accounts.…
Ohio Logistics manages the logistical activities for firms by matching companies that need products shipped with carriers that can provide the best rates and best service for the companies. Ohio Logistics is very concerned that its carriers deliver their customers material on time, so it carefully monitors the percentage of on-time deliveries. The following table contains a list of the carriers used by Ohio Logistics and the corresponding on-time percentages for the current and previous years. a. Sort the carriers in descending order by their current years percentage of on-time deliveries. Which carrier is providing the best service in the current year? Which carrier is providing the worst service in the current year? b. Calculate the change in percentage of on-time deliveries from the previous to the current year for each carrier. Use Excels conditional formatting to highlight the carriers whose on-time percentage decreased from the previous year to the current year. c. Use Excels conditional formatting tool to create data bars for the change in percentage of on-time deliveries from the previous year to the current year for each carrier calculated in part b. d. Which carriers should Ohio Logistics try to use in the future? Why?
Lakeesha Barnett owns and operates a package mailing store in a college town. Her store, Send It Packing, helps customers wrap items and send them via UPS, FedEx, and the USPS. Send It Packing also rents mailboxes to customers by the month. In May, purchases of materials (stamps, cardboard boxes, tape, Styrofoam peanuts, bubble wrap, etc.) equaled 11,450; the beginning inventory of materials was 1,050, and the ending inventory of materials was 950. Payments for direct labor during the month totaled 25,570. Overhead incurred was 18,130 (including rent, utilities, and insurance, as well as payments of 14,050 to UPS and FedEx for the delivery services sold). Since Send It Packing is a franchise, Lakeesha owes a monthly franchise fee of 5 percent of sales. She spent 2,750 on advertising during the month. Other administrative costs (including accounting and legal services and a trip to Dallas for training) amounted to 3,650 for the month. Revenues for May were 102,100. Required: 1. What was the cost of materials used for packaging and mailing services during May? 2. What was the prime cost for May? 3. What was the conversion cost for May? 4. What was the total cost of services for May? 5. Prepare an income statement for May. 6. Of the overhead incurred, is any of it direct? Indirect? Explain.
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…
The financial manager at the LOL shop is checking to see if there is any relationship between online advertising and sales revenues at the shop. She ob- tains the following data for the past 10 months: Month: Revenues: Advertising Costs: March $51.000 $1.500 April $72.000 $3.500 May $56.000 $1.000 June $64.000 $4.000 July $57.000 $ 500 August $64.000 $1.500 September $43.000 $1.000 October $82.000 $4.500 November $56.000 $2.000 December $61.000 $2.000 Required: 1. Use the high-low method to compute the function relating advertising costs and revenues 2. Using the high-low equation, what is the increase in revenues for each $ 1 000 spent on advertising within the relevant range?
Start with the partial model in the file attached. Marvel Pence, CEO of Marvel’s Renovations, a custom building and repair company, is preparing documentation for a line of credit request from his commercial banker. Among the required documents is a detailed sales forecast for parts of 2020 and 2021: Sales Labor and Raw Materials May, 2020 $75,000 $80,000 June, 2020 $115,000 $75,000 July, 2020 $145,000 $105,000 August, 2020 $125,000 $85,000 September, 2020 $120,000 $65,000 October, 2020 $95,000 $70,000 November, 2020 $75,000 $30,000 December, 2020 $55,000 $35,000 January, 2021 $45,000 N/A Estimates obtained from the credit and collection department are as follows: collections within the month of sale, 20%; collections during the month following the sale, 60%; collections the second month following the sale, 25%. Payments for labor and raw materials are typically made during the month following the…
Start with the partial model in the file attached. Marvel Pence, CEO of Marvel’s Renovations, a custom building and repair company, is preparing documentation for a line of credit request from his commercial banker. Among the required documents is a detailed sales forecast for parts of 2020 and 2021: Sales Labor and Raw Materials May, 2020 $75,000 $80,000 June, 2020 $115,000 $75,000 July, 2020 $145,000 $105,000 August, 2020 $125,000 $85,000 September, 2020 $120,000 $65,000 October, 2020 $95,000 $70,000 November, 2020 $75,000 $30,000 December, 2020 $55,000 $35,000 January, 2021 $45,000 N/A Estimates obtained from the credit and collection department are as follows: collections within the month of sale, 20%; collections during the month following the sale, 60%; collections the second month following the sale, 25%. Payments for labor and raw materials are typically made during the month following the…
Start with the partial model in the file attached. Marvel Pence, CEO of Marvel’s Renovations, a custom building and repair company, is preparing documentation for a line of credit request from his commercial banker. Among the required documents is a detailed sales forecast for parts of 2020 and 2021: Sales Labor and Raw Materials May, 2020 $75,000 $80,000 June, 2020 $115,000 $75,000 July, 2020 $145,000 $105,000 August, 2020 $125,000 $85,000 September, 2020 $120,000 $65,000 October, 2020 $95,000 $70,000 November, 2020 $75,000 $30,000 December, 2020 $55,000 $35,000 January, 2021 $45,000 N/A Estimates obtained from the credit and collection department are as follows: collections within the month of sale, 20%; collections during the month following the sale, 60%; collections the second month following the sale, 25%. Payments for labor and raw materials are typically made during the month following the…
Sara is considering whether to open a gadgets shop. She provided you, as a consultant, the following information: Sales of $60,000 and $72,000 are expected for July and August, respectively. All goods are sold on account. The collection pattern for Accounts Receivable is 80 percent in the month of sale and 20 percent in the month following the sale. Purchases of $40,000 and $54,000 are expected for July and August. The payment pattern for purchases is 70 percent in the month of purchase, 30 percent in the month following the purchase. Other monthly expenses are $8,000, which includes $2000 of depreciation. All operating expenses are paid in the month of their incurrence. $2,000 of cash is available on August 1, 2021. Required: Prepare the cash collection budget for the two months ending August 31, 2021 Prepare the cash budget for the two months ending August 31, 2021
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