Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Dunn is a large, local accounting firm located in a southwestern city. Carlos Ruiz, one of the firm's founders, appreciates the success his firm has enjoyed and wants to give something back to his community. He believes that an inexpensive accounting services clinic could provide basic accounting services for small businesses located in the barrio. He wants to price the services at cost. Since the clinic is brand new, it has no experience to go on. Carlos decided to operate the clinic for two months before determining how much to charge per hour on an ongoing basis. As a temporary measure, the clinic adopted an hourly charge of $25, half the amount charged by Fonseca, Ruiz, and Dunn for professional services. The accounting services clinic opened on January 1. During January, the clinic had 120 hours of professional service. During February, the activity was 150 hours.
Costs for these two levels of activity usage are as follows: 1.Classify each cost as fixed, variable, or mixed, using hours of professional service as the activity driver. Salaries: Senior accountant Office assistant Internet and software subscriptions Consulting by senior partner Depreciation (equipment) Supplies Administration Rent Utilities 2.Use the high-low method to separate the mixed costs into their fixed and variable components. Round variable rates to the nearest cent and fixed amounts to the nearest dollar. Components Mixed costVariable rateFixed Amount Internet and software subscriptions$ Supplies$ Utilities$ 3a.Luz Mondragon, the chief paraprofessional of the clinic, has estimated that the clinic will average 140 professional hours per month. If the clinic is to be operated as a nonprofit organization, how much will it need to charge per professional hour? $ 3b.How much of this charge is variable? Round answer to the nearest cent. $ 3c.How much is fixed? Round answer to the nearest cent. $ 4a.Conceptual Connection: Suppose the accounting center averages 170 professional hours per month. How much would need to be charged per hour for the center to cover its costs? Round answer to the nearest cent. $
describe the various approaches required by current GAAP standards for reporting changes in accounting principles. Discuss how these approaches may be impacted by the adoption of new IFRS standards.
If a calculator will sell for $42 each, the Variable Costs to produce it are $24 per unit, and the Fixed Costs per month are $39,600, then how many calculators must be sold per month to Break Even?
If a parent company elects to use the partial equity method rather than the cost method to record its investments in subsidiaries, what effect will this choice have on the consolidated financial statements?
Jade Corporation merged into Fluorite Corporation 2 years ago. At the time of the merger, Jade had an E & P deficit of $350,000 and Fluorite had a positive E & P of $300,000. The prior 2 years have resulted in a positive E & P of $100,000.
On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104.
at the beginningof the year caples co had total assets of 800000 and total liabilities of 300000. if during the year
the partners of jpg partnership want to change the form of entity from a partnership to a corporation. the corporation
If sales to increase by 11% next year. How do I find the percentage that should net operating income will increase?
for these assignments you are asked to prepare a refection paper. after you have finished the reading assignment for
Dogwood City's water enterprise fund received interest of 10,000 on long term investments. How should this amount be reported on the statement of cash flows?
The accumulation was motivaated by his thinking that a depression was just around the corner. Tax savings did not enter his mind. Does the accumulated earnings tax apply to T corporation?
Olgas proprietorship earned a net profit of $95,000 during the year and she withdrew $70,000 of this profit. Olga must report $70,000 net income from the proprietorship on her individual income tax return.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd