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 $1,200 per month plus $0.09 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.20 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.)

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.)

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.)

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.)

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.)

Please give me solution and pick from multiple choice

Using the following returns, calculate the average returns for Abundant and Slim.

Summit Systems will pay a dividend of $1.50 next year. If you expect Summit’s dividend to grow by 6% per year, what is its price per share if the required return of equity is 11%?

Pfd Company has debt with a yield to maturity of 7%, a cost of equity of 13% and a cost of preference stock of 9%. The market values of its debt, preference stock and equity are $13 million, $3 million and $15 million, respectively, and its tax rate is 35%. What is this firm’s WACC?  

KC Marketing (KC) makes the following specialized campaigns for its customers:

KC will prepare a TV commercial for $1.5M, an app for $500K, and a Facebook page for $500K. The TV commercial, the app, and the Facebook page are not interrelated. If a customer purchases all items, the total cost is $1.5M, which the customer will pay upon signing the contract. Furthermore, only and only if the app is downloaded more than 10,000 times in the first month, KC will receive a one-time bonus of $100K. The agreement creates enforceable rights and obligations. Before the end of the fiscal quarter, the app was actually downloaded more than 10,000 times in the first month. How much revenue will KC allocate to the TV commercial?

When a firm's demand curve is tangent to its average total cost curve, economic profits are zero and the firm will exit the industry in the long run since firms are unwilling to operate at zero economic profit.

true or false

If the gain from a product-variety externality is less than the loss from a business-stealing externality, then there are likely to be too many firms in a monopolistic competitive market.

true or false

Although the monopolistically competitive firm maximizes profits at the output level where marginal revenue equals marginal cost, the firm’s price exceeds marginal cost

true or false

If firms in a monopolistic competitive market are earning economic profits in the short run, then, in the long run, new firms will enter and existing firms will lose customers to the new entrants.

true or false

the show time movie theatre sells thousands of gift certificates every year. The certificates can be redeemed at any time because they have no expiry date. Some of them may never be redeemed (because they are lost or forgotten for example). the owner of the theatre has raised some questions about the accounting for these gift certificates.

write an email to answer the following questions from the owner:

a) why is a liability recorded when these certificates are sold? After all, they bring customers into the theatre, where they spend money on snacks and drinks. Why should something that helps generate additional revenue be treated as a liability?

b) how should the gift certificates that are never redeemed be treated? At some point in the future, can the liability related to them be eliminated? If so, what type of journal entry would be made?

Advertisers contract with internet service providers and search engines to place ads on websites. They pay a fee based on the number of potential customers who click on their ad. Unfortunately, click fraud—the practice of someone clicking on an ad solely for the purpose of driving up advertising revenue—has become a problem. Business week reports that 40 percent of advertisers claim they have been a victim of click fraud. Suppose a simple random sample of 360 advertisers will be taken to learn more about how they are affected by this practice. (Round your answers to four decimal places.) (a) What is the probability that the sample proportion will be within ±0.04 of the population proportion experiencing click fraud? Incorrect: Your answer is incorrect. (b) What is the probability that the sample proportion will be greater than 0.45?

The Show Time movie theatre sells thousands of gift certificates every year. The certificates can be redeemed at any time because they have no expiry date. Some of them may never be redeemed (because they are lost or forgotten, for example). The owner of the theatre has raised some questions about the accounting for these gift certificates.

Instructions

Write an email to answer the following questions from the owner:

a.  

Why is a liability recorded when these certificates are sold? After all, they bring customers into the theatre, where they spend money on snacks and drinks. Why should something that helps generate additional revenue be treated as a liability?

b.  

How should the gift certificates that are never redeemed be treated? At some point in the future, can the liability related to them be eliminated? If so, what type of journal entry would be made?

OSE provides a one year warranty on all its electronic products. The warranty is an assurance against manufacturing defects. In December 2016, OSE sold $500,000 worth of electronic products. The cost of the goods sold was $250,000 and OSE estimates the cost of repairs under the warranty to be $5,000.
During the financial year ended December 2017, OSE incurred cost of $3,000 to repair the products under warranty that were sold in December 2016. It also incurred costs of $1,000 on repairs that did not fall under the warranty agreement and charged its customers $1,200 for these repairs.
OSE complies with FRS 18 Revenue and FRS 37 Provision, Contingent Liabilities and Contingent Assets.

Prepare journal entries to record the sale of the electronic products and the warranty for the financial years ended 31 December 2016 and 31 December 2017.

Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below:

From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following the sale, and the remaining 10% are collected in the second month following the sale. Bad debts are negligible and can be ignored. February sales totaled $330,000, and March sales totaled $360,000.

1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.

2. Assume that the company will prepare a budgeted balance sheet as of June 30. Compute the accounts receivable as of that date.

Gwen runs a company that provides corporate health and wellness
programs. One of her sales people signed a contract at the
beginning of the quarter for a very large client. It was a bundle
of services to be provided over the next year. The contract was for
$120,000, with equal payments at the beginning of each month
($10,000 per month). The new client is a very high profile and well
known company, so Gwen is very excited. This is the first bundled
contract that the company has sold and the salesperson felt like it
was a great deal. It starts with an intense bootcamp in the first
month for all employees. That will require a lot of work and Gwen
would normally charge $30,000 for the bootcamp. Each month
throughout the contract they will offer an & intensive
weekend& ; of workouts and diet advice. Gwen normally charges
$5,000 for each of these. They also will provide access to their
online program, which has activity and food logs as well as
preprogrammed exercise suggestions and a weekly inspirational
email. Gwen would normally charge a company of this size $15,000
for one year of access to the website. How much revenue should Gwen
recognize at the end of the first quarter (3 months into the deal)?