The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 63 students enrolled in those two courses. Data concerning the company’s cost formulas appear below: Fixed Cost per Month Cost per Course Cost per Student Instructor wages $ 2,940 Classroom supplies $ 270 Utilities $ 1,220 $ 55 Campus rent $ 4,800 Insurance $ 2,000 Administrative expenses $ 3,600 $ 42 $ 5 For example, administrative expenses should be $3,600 per month plus $42 per course plus $5 per student. The company’s sales should average $850 per student. The company planned to run four courses with a total of 63 students; however, it actually ran four courses with a total of only 57 students. The actual operating results for September appear below: Actual Revenue $ 50,650 Instructor wages $ 11,040 Classroom supplies $ 16,860 Utilities $ 1,850 Campus rent $ 4,800 Insurance $ 2,140 Administrative expenses $ 3,509 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (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
Brian just graduated from engineering school and landed a sweet
job earning $63000 per year. He expects his salary to increase by
4.1% per year. At the end of each year he will invest 10% of his
salary into an investment account that earns 6.7.% per year
compounded annually. He hopes to retire in 45 years. If all goes
according to his plan, how much money will be in his retirement
account when he retires? $
After working for almost a year Brian decides he would rather spend
Christmas in Mexico then put money in his retirement account. Each
year he finds something else he wants to do with his retirement
money until 15 years have passed and he realizes he has zero
savings. Sure enough his salary increased by exactly what he had
predicted over 15 years. He vows to start putting 10% of his salary
away each year from then on. If all goes according to plan how much
will be in his account after 30 more years when he reaches the age
he would like to retire? $
Brian is sad when he realizes how far he has fallen behind in his
retirement planning. He decides to buy a lottery ticket hoping that
he can use the winnings to put him back on track for his original
retirement prediction. How much does he need to win and invest at
the end of his 15th year working in order to get back to where he
would have been if he had followed his original plan? $
In: Economics
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 64 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
| Fixed Cost per Month | Cost per Course | Cost per Student |
|||||
| Instructor wages | $ | 2,900 | |||||
| Classroom supplies | $ | 260 | |||||
| Utilities | $ | 1,220 | $ | 70 | |||
| Campus rent | $ | 4,500 | |||||
| Insurance | $ | 2,100 | |||||
| Administrative expenses | $ | 3,500 | $ | 42 | $ | 4 | |
For example, administrative expenses should be $3,500 per month plus $42 per course plus $4 per student. The company’s sales should average $900 per student.
The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below:
| Actual | ||
| Revenue | $ | 54,700 |
| Instructor wages | $ | 10,880 |
| Classroom supplies | $ | 16,490 |
| Utilities | $ | 1,910 |
| Campus rent | $ | 4,500 |
| Insurance | $ | 2,240 |
| Administrative expenses | $ | 3,350 |
Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (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.)
SOME OF MY NUMBERS ARE WRONG, PLEASE HELP!!!!
In: Accounting
Brian just graduated from engineering school and landed a sweet job earning $55000 per year. He expects his salary to increase by 4.4% per year. At the end of each year he will invest 10% of his salary into an investment account that earns 7.9.% per year compounded annually. He hopes to retire in 45 years. If all goes according to his plan, how much money will be in his retirement account when he retires? $
After working for almost a year Brian decides he would rather spend
Christmas in Mexico then put money in his retirement account. Each
year he finds something else he wants to do with his retirement
money until 15 years have passed and he realizes he has zero
savings. Sure enough his salary increased by exactly what he had
predicted over 15 years. He vows to start putting 10% of his salary
away each year from then on. If all goes according to plan how much
will be in his account after 30 more years when he reaches the age
he would like to retire? $
Brian is sad when he realizes how far he has fallen behind in his
retirement planning. He decides to buy a lottery ticket hoping that
he can use the winnings to put him back on track for his original
retirement prediction. How much does he need to win and invest at
the end of his 15th year working in order to get back to where he
would have been if he had followed his original plan?
$
In: Finance
Scenario: A 28-year-old elementary school teacher begins to exhibit uncharacteristic behaviors such as having multiple sexual partners, engaging in compulsive online shopping, barely sleeping, dressing in a more provocative fashion, and attending frequent “wild” parties. Friends and family report these recent behaviors as “totally unlike her,” describing her as a normally conservative, responsible person. Her cousin, who lives nearby, becomes concerned and accompanies the woman to a Crisis Unit where she is subsequently diagnosed with Bipolar Disorder and admitted to a Mental Health Unit. Initial Discussion Post: Address the following: What is the priority RN action for this client? Which medical concerns may be significant, considering this client’s recent behavior? Discuss what the RN would teach the client about Bipolar Disorder. Provide two 3-part nursing diagnosis statements that might be appropriate for this client. (Note: Each statement must include an actual NANDA-I nursing diagnosis [no risk-for diagnoses], related factor, and “as evidenced by.”)
In: Nursing
Instructions Chart of Accounts Journal X Instructions Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $7,800 of indirect materials and $11,100 of indirect labor were used during the month. The cost sheets for the four jobs entering production during the month are as follows, in summary form:
.
| Job 301 | Job 302 | ||
| Direct materials | $10,700 | Direct materials | $18,400 |
| Direct labor | 7,200 | Direct labor | 16,400 |
| Factory overhead | 6,192 | Factory overhead | 14,104 |
| Total | $24,092 | Total | $48,904 |
| Job 303 | Job 304 | ||
| Direct materials | $25,900 | Direct materials | $15,900 |
| Direct labor | 19,500 | Direct labor | 10,100 |
| Factory overhead | — | Factory overhead | — |
PAGE 10
JOURNAL
Score: 18/125
| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | |
|---|---|---|---|---|---|
|
1 |
Accounts Payable | ? | ? | ||
|
2 |
Utilities Payable | ? | ? | ||
|
3 |
Notes Payable | ? | ? | ||
|
4 |
Interest Payable | ? | ? | ||
|
5 |
Lease Payable | ? | ? | ||
|
6 |
Wages Payable | ? | ? | ||
|
7 |
Consultant Fees Payable | ? | ? | ||
|
8 |
? | ||||
|
9 |
? | ||||
|
10 |
? |
In: Accounting
Transaction Entries, Posting, Trial Balance, and Adjusting Entries Huang Karate School began business on June 1. Transactions for June are as follows:
| 1 | Po Huang contributed his personal funds in exchange for | |
| common stock to begin the business. | $11,500 | |
| 2 | Purchased equipment for a total of | 6,750 |
| Paid cash of $1,150, with the balance due in 30 days. | ||
| 3 | Paid 6 months' rent. | 7,452 |
| 4 | Paid one-year premium on liability insurance. | 876 |
| 5 | Paid June newspaper advertising. | 625 |
| 6 | Billed participants for karate lessons to date. | 6,200 |
| 7 | Received from a local company funds to conduct 3 sessions. | 1,455 |
| The 3 sessions will be June 29, July 6, and July 13, with a cost per session of | 485 | |
| 8 | Collected on account from participants. | 5,800 |
| 9 | Paid to repair damage caused by an errant kick. | 675 |
| 10 | Billed participants for karate lessons to date. | 6,000 |
| 11 | Paid assistants' wages. | 650 |
Required
Using the following accounts: Cash; Accounts Receivable; Prepaid
Rent; Prepaid Insurance; Equipment; Accumulated
Depreciation-Equipment; Accounts Payable; Utilities Payable;
Unearned Karate Fees; Common Stock; Retained Earnings; Karate Fees
Earned; Advertising Expense; Repairs Expense; Wages Expense; Rent
Expense; Insurance Expense; Depreciation Expense-Equipment; and
Utilities Expense.
a. Record the transactions in the general journal.
b. Post the transactions to the ledger accounts.
c. Prepare an unadjusted trial balance as of June 30.
d. Prepare and record the adjusting entries for rent expense, insurance expense, depreciation expense, utilities expense, and karate fees earned in the general journal. Depreciation expense for June is $90 and estimated utilities expense for June is $200. Post the adjusting entries to the ledger accounts in part b.
a.
Paid assistants wages. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
b.
| Cash | |||
|---|---|---|---|
| (1) | Answer | Answer | |
| (2) | Answer | Answer | |
| (3) | Answer | Answer | |
| (4) | Answer | Answer | |
| (5) | Answer | Answer | |
| (7) | Answer | Answer | |
| (8) | Answer | Answer | |
| (9) | Answer | Answer | |
| (11) | Answer | Answer | |
| Bal | Answer | Answer | |
| Accounts Receivable | |||
|---|---|---|---|
| (6) | Answer | Answer | |
| (8) | Answer | Answer | |
| (10) | Answer | Answer | |
| Bal | Answer | Answer | |
| Unearned Karate Fees | |||
|---|---|---|---|
| (7) | Answer | Answer | |
| unadj.Bal | Answer | Answer | |
| (16) | Answer | Answer | |
| Bal | Answer | Answer | |
| Utilities Expense | |||
|---|---|---|---|
| (15) | Answer | Answer | |
| Bal | Answer | Answer | |
| Accounts Payable | |||
|---|---|---|---|
| (2) | Answer | Answer | |
| Bal | Answer | Answer | |
| Common Stock | |||
|---|---|---|---|
| (1) | Answer | Answer | |
| Bal | Answer | Answer | |
| Karate Fees Earned | |||
|---|---|---|---|
| (6) | Answer | Answer | |
| (10) | Answer | Answer | |
| unadj.Bal | Answer | Answer | |
| (16) | Answer | Answer | |
| Bal | Answer | Answer | |
| Wage Expense | |||
|---|---|---|---|
| (11) | Answer | Answer | |
| Bal | Answer | Answer | |
| Repairs Expense | |||
|---|---|---|---|
| (9) | Answer | Answer | |
| Bal | Answer | Answer | |
| Utilities Payable | |||
|---|---|---|---|
| (15) | Answer | Answer | |
| Bal | Answer | Answer | |
| Accum. Depr.-Equipment | |||
|---|---|---|---|
| (14) | Answer | Answer | |
| Bal | Answer | Answer | |
| Depr. Exp.-Equipment | |||
|---|---|---|---|
| (14) | Answer | Answer | |
| Bal | Answer | Answer | |
| Advertising Expense | |||
|---|---|---|---|
| (5) | Answer | Answer | |
| Bal | Answer | Answer | |
| Prepaid Insurance | |||
|---|---|---|---|
| (4) | Answer | Answer | |
| unadj.Bal | Answer | Answer | |
| (13) | Answer | Answer | |
| Bal | Answer | Answer | |
| Insurance Expense | |||
|---|---|---|---|
| (13) | Answer | Answer | |
| Bal | Answer | Answer | |
| Equipment | |||
|---|---|---|---|
| (2) | Answer | Answer | |
| Bal | Answer | Answer | |
| Prepaid Rent | |||
|---|---|---|---|
| (3) | Answer | Answer | |
| unadj.Bal | Answer | Answer | |
| (12) | Answer | Answer | |
| Bal | Answer | Answer | |
| Rent Expense | |||
|---|---|---|---|
| (12) | Answer | Answer | |
| Bal | Answer | Answer | |
c.
| HUANG KARATE
SCHOOL Unadjusted Trial Balance June 30 |
||||
|---|---|---|---|---|
| Debit | Credit | |||
| Cash | $Answer | $Answer | ||
| Accounts Receivable | Answer | Answer | ||
| Prepaid Rent | Answer | Answer | ||
| Prepaid Insurance | Answer | Answer | ||
| Equipment | Answer | Answer | ||
| Accounts Payable | Answer | Answer | ||
| Unearned Karate Fees | Answer | Answer | ||
| Common Stock | Answer | Answer | ||
| Karate Fees Earned | Answer | Answer | ||
| Repairs Expense | Answer | Answer | ||
| Advertising Expense | Answer | Answer | ||
| Wages Expense | Answer | Answer | ||
| Totals | $Answer | $Answer | ||
d.
| Description | Debit | Credit |
| To record June rent expense. | ||
| To record June insurance expense. | ||
| To record June depreciation on equipment. | ||
| To record estimated June utilities expense. | ||
To record portion of advance payment earned in June.
In: Accounting
Question 1 Angus is a 44-year-old high school teacher who wishes to invest his savings of $100,000 by building up a blue-chip share portfolio. Angus was a keen observer of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry in 2019 and has strong views about corporate ethics and the remuneration of directors. Angus wants to exercise his vote as a shareholder to ensure that company directors are not being overpaid. He is also keen to ensure there is proper corporate governance and the directors are managing the company efficiently and ethically. Angus is unsure whether he should buy shares in a public company or a proprietary company. He is also unclear about what class of share/s would best suit his particular investment interests. Angus seeks your professional advice.
b) On what issues do shareholders have a right to vote and how many votes do they have?
In: Accounting
Jack Lane, a 54-year-old male client who teaches history at the local high school, is seen at the outpatient surgical center for a left inguinal herniorrhaphy via a laparoscopic approach. The client was moving to a different house and developed the hernia while lifting heavy objects 1 week ago. When the client is standing, the nurse sees bulging in the left inguinal area, which decreases when he is lying flat. The vital signs include T, 99° F; BP, 120/78 mm Hg; HR, 80 beats/minute; RR, 22 breaths/minute. The client had preadmission testing, and the nurse notes that the CBC with differential is within normal limits (WNL), and the electrolytes, renal function, and coagulation profile are also WNL. The electrocardiogram (ECG) copy is on the chart, and the reading is a normal ECG. The results of the chest X-ray are WNL. The physician’s history and physical is also on the chart, and the nurse notes that the client has no previous medical or surgical history. The client is an active runner and has participated in marathons. The client is 5 feet 8 inches in height and weighs 160 lb. He follows a heart-healthy diet, being proactive because he has a family history of cardiovascular disease. He does not smoke cigarettes or use tobacco products, has a rare alcoholic drink socially, and does not use any recreational drugs. The client stated that he was told about the surgical procedure by his surgeon, to not eat or drink anything the night before the surgery or the morning of the surgery, and to report to the surgical center. The client asks the LPN/LVN to provide preoperative education of the hernia repair and what to do at home once he is discharged.
a. What preoperative nursing management and client
education are needed?
b. What discharge instructions should the nurse
provide?
In: Nursing
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 65 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:
| Fixed Cost per Month | Cost per Course | Cost per Student |
|||||
| Instructor wages | $ | 2,950 | |||||
| Classroom supplies | $ | 280 | |||||
| Utilities | $ | 1,230 | $ | 70 | |||
| Campus rent | $ | 4,800 | |||||
| Insurance | $ | 2,200 | |||||
| Administrative expenses | $ | 3,900 | $ | 44 | $ | 4 | |
For example, administrative expenses should be $3,900 per month plus $44 per course plus $4 per student. The company’s sales should average $870 per student.
The company planned to run four courses with a total of 65 students; however, it actually ran four courses with a total of only 59 students. The actual operating results for September appear below:
| Actual | ||
| Revenue | $ | 53,650 |
| Instructor wages | $ | 11,080 |
| Classroom supplies | $ | 18,050 |
| Utilities | $ | 1,920 |
| Campus rent | $ | 4,800 |
| Insurance | $ | 2,340 |
| Administrative expenses | $ | 3,762 |
Required:
Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (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