Lavado Rapido is a Mexican company that owns and operates a large automatic car wash facility near Mexico City. The following table provides data concerning the company’s costs:
[Fixed Cost per Month] [Cost per Car Washed]
Cleaning supplies $1.10
Electricity $1,500 $0.20
Maintenance $0.35
Wages and salaries $6,500 $0.80
Depreciation $6,000
Rent $9,500
Administrative expenses $3,500 $0.20
The company actually washed 10,000 cars in October and expected to collect an average of $5.50 per car washed. The company reported the following actual results.
Actual Results
Revenue 75,000
Cleaning Supplies 12,000
Electricity 3,000
Maintenance 4,500
Wages and salaries 16,500
Depreciation 6,000
Rent 9,500
Administrative Expenses 7,800
Required: Prepare the company’s flexible budget and variances for October.
This is all the information I was given, I wasn't given a planned wash amount.
In: Accounting
Exercise 9-12 Activity Variances [LO9-2]
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs:
| Fixed Cost per Month |
Cost per Car Washed |
||||||
| Cleaning supplies | $ | 0.70 | |||||
| Electricity | $ | 1,000 | $ | 0.10 | |||
| Maintenance | $ | 0.15 | |||||
| Wages and salaries | $ | 4,100 | $ | 0.20 | |||
| Depreciation | $ | 8,100 | |||||
| Rent | $ | 1,800 | |||||
| Administrative expenses | $ | 1,500 | $ | 0.02 | |||
For example, electricity costs are $1,000 per month plus $0.10 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.90 per car washed. The company actually washed 8,300 cars in August.
Required:
Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
In: Accounting
1. What are the hopes for economic integration in the Americas among those who advocate free trade agreements?
2. Do you think that such hopes can come to fruition in the near future? Why?
In: Economics
In: Chemistry
Q: zero intrest rate may result volatility in currency markets, what may happen to the US dollar vs other currencies in the near future, explain your answers with details necessary
In: Finance
The closest distance a book can be read from a pair of reading eyeglasses (Power = 2.06 dp) is 27.5 cm. What is the near distance? (Assume a distance between the eyeglasses and the eyes to be 3.00 cm)
In: Physics
In: Nursing
A nursing home located near a busy freeway suffers from excessive noise from the freeway traffic. Describe fully a solution that you would recommend to resolve the situation using the systems approach.
In: Civil Engineering
Samuelson and Messenger (S&M) began 2018 with 330 units of
its one product. These units were purchased near the end of 2017
for $20 each. During the month of January, 165 units were purchased
on January 8 for $23 each and another 330 units were purchased on
January 19 for $25 each. Sales of 170 units and 200 units were made
on January 10 and January 25, respectively. There were 455 units on
hand at the end of the month. S&M uses a perpetual
inventory system.
Required:
1. Complete the below table to calculate ending
inventory and cost of goods sold for January using FIFO
method.
2. Complete the below table to calculate ending
inventory and cost of goods sold for January using average cost
method.
| Perpetual FIFO | Cost of Goods Available for Sale | Cost of Goods Sold - January 10 | Cost of Goods Sold - January 25 | Inventory Balance | ||||||||
| # of units | Cost per unit | Cost of Goods Available for Sale | # of units sold | Cost per unit | Cost of Goods Sold | # of units sold | Cost per unit | Cost of Goods Sold | # of units in ending inventory | Cost per unit | Ending Inventory | |
| Beg. Inventory | ||||||||||||
| Purchases: | ||||||||||||
| January 8 | ||||||||||||
| January 19 | ||||||||||||
| Total | ||||||||||||
| Perpetual Average | Inventory on hand | Cost of Goods Sold | ||||
| # of units | Cost per unit | Inventory Value | # of units sold | Avg. Cost per unit | Cost of Goods Sold | |
| Beginning Inventory | ||||||
| Purchase - January 8 | ||||||
| Subtotal Average Cost | ||||||
| Sale - January 10 | ||||||
| Subtotal Average Cost | ||||||
| Purchase - January 19 | ||||||
| Subtotal Average Cost | ||||||
| Sale - January 25 | ||||||
| Total | ||||||
In: Accounting
Choose the correct answer.
The Olympics ______ getting ready to kick off in Beijing with a huge opening ceremony.
a. is
b. are
Choose the sentence that is punctuated properly.
a. Most people thought it would never happen, but Elon Musk launched a massive rocket that will fly near Mars one day.
b. Most people thought it would never happen but Elon Musk launched a massive rocket that will fly near Mars one day.
We are looking for individuals ______________ are experienced brand managers.
a. that
b. whom
c. who
Choose the sentence that is punctuated properly.
a. Identity theft victims are faced; nevertheless, with damaged credit and emotional distress.
b. Identity theft victims are faced, nevertheless, with damaged credit and emotional distress.
In: Finance