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:

For example, electricity costs are $1,300 per month plus $0.10 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.80 per car washed.

The actual operating results for August appear below.

Lavage Rapide
Income Statement
For the Month Ended August 31
Actual cars washed 8,300

Revenue $ 57,860
Expenses:
Cleaning supplies 5,420
Electricity 2,090
Maintenance 1,470
Wages and salaries 7,320
Depreciation 8,200
Rent 2,000
Administrative expenses 1,746
Total expense 28,246
Net operating income $ 29,614

Required:

Calculate the company's revenue and spending 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.)

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:

For example, electricity costs are $1,100 per month plus $0.08 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.40 per car washed.

The actual operating results for August appear below.

Lavage Rapide

Income Statement

For the Month Ended August 31

Actual cars washed 8,100

Revenue $53,300

Expenses:

Cleaning supplies 6,100

Electricity 1,710

Maintenance 2,240

Wages and salaries 7,560

Depreciation 8,300

Rent 2,200

Administrative expenses 1,620

Total expense 29,730

Net operating income $23,570

Required:

Prepare a flexible budget performance report that shows the company’s revenue and spending variances and 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.)

Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:

For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.70 per car washed.

The actual operating results for August appear below.

Required:

Complete the flexible budget performance report that shows the company’s activity variances and revenue and spending 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.)

Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:

For example, electricity costs are $1,400 per month plus $0.07 per car washed. The company expects to wash 8,000 cars in August and to collect an average of $6.70 per car washed.

The actual operating results for August appear below.

Required:

Complete the flexible budget performance report that shows the company’s activity variances and revenue and spending 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.)

Ali and sarah plan to refinance their mortgage to obtain a lower interest now that rates have dropped 2-3 percentage points.  A ‘refinance’ will reduce their mortgage by $110 a month with a new interest rate. Their closing costs for refinancing the loan will be $1700. How long will it take them to cover the cost of refinancing? They will move to another state in three years when Savannah retires. Should they refinance?

1. The individual health insurance market
   1. covers most people who have health insurance.
   2. covers a small percentage of people with health insurance.
   3. is used by employers for their employees.
   4. has been eliminated by the Affordable Care Act
2. The claims experience of an insurer’s enrollees does not include
   1. the benefits available to the enrollees.
   2. the demographic characteristics of the enrollees.
   3. the cost-containment provisions of the health plan.
   4. the insurer’s administrative costs.

Reliable Electric is a regulated public utility, and it is expected to provide steady dividend growth of 2% per year for the indefinite future. Its last dividend was $6 per share; the stock sold for $60 per share just after the dividend was paid. What is the company’s percentage cost of equity? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Determine the gross profit percentage for the year ended December 31

Selling Expenses $8,500 Interest Revenue 2,000 Net Sales Revenue 150,500 Cost of Goods Sold 80,000 Administrative Expenses 10,000

I know its gross profit / net sales rev = gross profit percent. I just need help visualizing it with the numbers. what makes the gross profit?

Under a firm commitment agreement, Zeke, Co. went public and received $35.25 for each of the 8.9 million shares sold. The initial offer price was $38 and the stock rose to $41.38. The company paid $560,000 in direct flotation costs and $215,000 in indirect costs. What was the flotation cost as a percentage of funds raised?

a)27.63

b)8

c)17.68

d)29.14

e)23.6

A company is evaluating a new 4-year project. The equipment necessary for the project will cost $3,600,000 and can be sold for $725,000 at the end of the project. The asset is in the 5-year MACRS class. The depreciation percentage each year is 20.00 percent, 32.00 percent, 19.20 percent, 11.52 percent, and 11.52 percent, respectively. The company's tax rate is 40 percent. What is the aftertax salvage value of the equipment?

Tesla, Inc. had the following income statement for last period:

If costs of sales was 70% variable and 30% fixed, and Selling and General Expense was 65% variable and 35% fixed.

Required:

A. Prepare a contribution format income statement.

B. Calculate its contribution margin percentage.

In 2008, Doolan Company sold 10,000 units of inventory at twice their purchase price of $27.50 each.   In 2009, Doolan had a gross profit of $200,000 and cost of goods sold of $225,000.

A. What were Doolan’s sales in 2008?

B. What was Doolan’s gross profit in 2008?

C. What were Doolan’s sales in 2009?

D. What was Doolan’s gross profit percentage in 2009?