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The cost of cleaning supplies used in a student-housing unit is believed to have a mixed cost behavior pattern that is a function of the number of student days the unit is occupied. For this purpose, a student day is defined as the occupancy by one student for one day. Thus, if during a given two-week period, 15 students occupied the unit for 10 days, and 16 students occupied the unit for 4 days, the total student days would be 214 (10 days * 15 students plus 4 days * 16 students). During one two week period, there were 200 student days and the total cleaning supplies cost was $48. During another two week period, there were 260 student days and the total cleaning supplies cost was $60.
a. Using the high low method, calculate the variable cost per student day and the fixed cost per two-week period for cleaning supplies.
b. Calculate the estimated cleaning supplies cost for a six week period during which occupancy in the housing unit would average 16 students per day.
Some people have more taxes withheld from their paychecks than is needed in order to get a refund every spring. Why would they do this? Do you agree with this strategy for a taxpayer?
Jane decided to resign from her current job, at which she earned $58,000 each year. She started her own business by using her $100,000 savings on which she was earning 5 % interest. In first year, her revenue was $150,000 and her costs were as fol..
Which of the following is not a condition that would permit a public college or private college or university to avoid accounting recognition of the value of its collections of art, historical treasures, and similar assets?
Calculate the number of fresh shares issued and the amount transferred to capital redemption reserve account.
on an involuntary conversion in which the taxpayer does not buy replacement property within the replacement period the gain on the involuntary conversion and any tax due must be reported.
Similarities between manufacturing, non-manufacturing, serviced based businesses and not for profit organizations are.
Under the installment sales method, what would be Rosson's deferred gross profit at December 31, 2008?
If a stock has a constant growth rate of 6% per year and paid a dividend of $5.00 yesterday, what is the value of the stock if the discount rate is 10%?
Prepare a differential analysis report, dated June 15 of the current year(2009), on whether the equipment should be leased or sold.
What is the monthly interest rate if the lease payments are $24,000 per month for twenty-four months? What is the monthly interest rate if the lease payments are $24,000 per month for thirty-six months? What is the monthly interest rate if the lease ..
The partners share equally in partnership capital, income, gain, loss, deduction, and credit and capital is not a material income-producing factor.
Prepare the adjusting entry that records bad debts expense. Prepare the journal entry that records a write-off of a $700 uncollectible account receivable.
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