Part I To recap, W.T.'s planning on the following: Newspaper ad Social media manager Payment collection Gas $120 per month $100 per month; $1 per job scheduled $0.75 per job $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he'll likely need to create different types of "jobs". For example, purchasirg a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We'll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following table assSuming W.T. completes 10 jobs in a single month. Item Per Job Total Computations (10 jobs) Sales Less: Variable Cost Contribution Margin Less: Fixed Cost $4 Gross Margin $4 %24 %24 %24 %24 %24 %24

Part I To recap, W.T.'s planning on the following: Newspaper ad Social media manager Payment collection Gas $120 per month $100 per month; $1 per job scheduled $0.75 per job $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he'll likely need to create different types of "jobs". For example, purchasirg a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We'll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following table assSuming W.T. completes 10 jobs in a single month. Item Per Job Total Computations (10 jobs) Sales Less: Variable Cost Contribution Margin Less: Fixed Cost $4 Gross Margin $4 %24 %24 %24 %24 %24 %24

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 5PB: Blake Cohen Painting Service specializes in small paint jobs. His normal charge is $350/day plus...

See similar textbooks

Similar questions

COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY PAY Rebecca Huang receives a regular salary of 2,600 a month and is paid 1 times the regular hourly rate for hours worked in excess of 40 per week. (a) Calculate Huangs overtime rate of pay. (b) Calculate Huangs total gross weekly pay if she works 45 hours during the week.
Blake Cohen Painting Service specializes in small paint jobs. His normal charge is $350/day plus materials. Moesha needs her basement painted. Blake has produced a bid for $1 500 to complete the basement painting. Blake completed a cost estimate for his service as shown. A. Moesha mentions that she cant pay the $1500. She is a widow and you feel an obligation to take care of widows but cant lose money. How much would you charge and still be able to make a profit? B. Moesha has asked you to paint the rest of her house. Could you continue to give her the same deal?
To recap, W.T.’s planning on the following: Newspaper ad $120 per month Social media manager $100 per month; $1 per job scheduled Payment collection $0.75 per job Gas $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he’ll likely need to create different types of “jobs”. For example, purchasing a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We’ll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following table assuming W.T. completes 10 jobs in a single month. Item Per Job Total (10…
Part 1 is complete. I have copied it below before Part 2. This should help to complete Part 2 since there is no missing information. Newspaper ad $120 per month Social media manager $100 per month; $1 per job scheduled Payment collection $0.75 per job Gas $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he’ll likely need to create different types of “jobs”. For example, purchasing a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We’ll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following…
Mary Jo Prenaris is an office manager with gross earnings of $1,300 semimonthly. If her company switches pay schedules from semimonthly to biweekly, what are Mary Jo's new gross earnings?Round dollars to the nearest cent. $__________ biweekly salary
Brenda Sheldon, CPA, pays her new staff accountant, Abby , a salary equivalent to $21 per hour while Brenda receives a salary equivalent to $37 per hour. The firm's predetermined indirect cost allocation rate for the year is $11 per hour. Sheldon bills for the firm's services at 34% over cost. Assume Brenda works 6 hours and Abby works 8 hours preparing a tax return for Mikayla Touchstone. 1. What is the total cost of preparing Touchstone's tax return? 2. How much will Brenda bill Touchstone for the tax work?
Which of the following is an example of Step Costs? Select one: 1. A company’s advertisement assistant is paid $100 for every new partner who agrees to distribute the company’s marketing materials. 2. The salary of a company’s social media manager is $2,500 per month. The monthly salary of the head of the marketing department is $4,000. 3. A company employs a salesperson whose salary is $3,000 per month. Once the monthly sales exceed $100,000, the salesperson receives the commission of 8% of the sales made. 4. A sales company needs one manager for up to 100 clients, 2 managers for 101 to 200, and so forth as the number of clients increases.
Calculate Suzanne's wage bill. Suzanne is calculating monthly wages for her employees. Harold makes $12.50 an hour, Pauline makes $15.25 an hour, and Erin makes $21.15 an hour. They each work 40 hours per week, except for Pauline, who works 35 hours per week. Harold: $12.50 x 40 = $500.00 Pauline: $15.25 x 35 = Erin: $21.15 x 40 = $846.00 In a four-week month, Suzanne will pay a total of • in wages.
A sales engineer of a lubricant comрany receives Ρhр 14,580.00 every month. A 9.5 % commission on his monthly sales of Ρhр 85,000.00 is his benefit. His sales last month was Ρhр 115,750.00 and this month is Ρhр 72,951.00.Comрute his two months earnings?
Cabrera Accounting pays Shanaya Kapoor $63,480 per year.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. What is the hourly cost to Cabrera Accounting of employing Shanaya Kapoor? Assume it is a 31 hour work week and the work 50 weeks a year. Weeks per year ? Hours per week = Work hours per year = Yearly Rate ? Hours per year = Cost per hour = 2. What is the direct labor cost assigned to Client 123 when Shanaya Kapoor works 18 hours to prepare Clients 123 financial statements? Hours worked ? Rate per hour = Direct Labor Cost =
Suppose you have a job that pays a monthly salary of (g) $_3,900____.Unfortunately, recent events have significantly reduced your company’s cash flow.Your employer says that everyone needs to take a 6.5% pay cut or the company mayhave to close.(a) When the 6.5% pay cut is applied to your original monthly salary, by how many dollars will your monthly pay decrease? Round your result to the nearest cent. (4) (b) What will your reduced monthly salary be after the 6.5% decrease is applied to your original monthly salary? Round your result to the nearest cent. (3) Your employer promises that when business returns to normal, everyone will get a6.5% pay raise to bring their pay back to their original levels.(c) When the 6.5% pay raise is applied to your reduced monthly salary, by how many dollars will your monthly pay increase? Round your result to the nearest cent. (4) (d) What will your new increased monthly salary be after the 6.5% increase is applied to your reduced monthly salary? Round…
Joe Fixit has an appliance-repair business. He has more business than hecan handle and wants to hire another repair person. Joe estimates thatthree appliances can be repaired each hour by a qualified person. Joe billsout labor at $45 per hour, but he stipulates that the minimum charge forappliance-repair estimates is $30 plus parts. What is the marginal revenueproduct of a qualified repair person? What is the maximum hourly wagethat he would pay an employee?