What and how would you approach this situation

Assignment Help Managerial Accounting
Reference no: EM133012058

Question - You are the catering manager for Best Banquets, Inc. and you have just met with a brand new client, Jamie from Capital City Financial Group. Jamie would like to hold a corporate lunch and meeting at Best Banquets next month for 75 people. You do BEO (banquet events order) and determined that the event should be priced at a total of $2950 plus tax. This price includes the room set up fee and equipment rental of $350, a $200 cleaning fee, the $20 per person charge for lunch, the $7 per person beverage service charge, and the $5 per person dessert charge. You wrote up the contract and emailed it to Jamie. Three days later, you realized that you forgot to add the surcharge of 18% to her contract. After a quick calculation, you realize this was a $531 error. You are very excited to have a new client, but you are not sure how she would react to your mistake. What and how would you approach this situation? What would you communicate to Jamie and why?

Reference no: EM133012058

Questions Cloud

What is the tax savings from the special tax treatment : If Daniel's marginal tax rate is 35 percent and he has $177,600 of other capital gains (taxed at 15 percent), what is the tax savings from the special tax
What is the preimum or discount : A 15000$, 8% bond with quarterly interest coupons redeemable at par in 7 years is purchased to yield at 9% compounded quarterly. What is the preimum or discount
How much would you receive : Question - If you own 50 shares and the company declared a 22% stock dividend, how much would you receive
What is the price of this bond : Assume you have a bond with a 5% semiannual-pay and a face value of $1,000. This bond will mature in 6 years. If the yield is 7%, what is the price of this bond
What and how would you approach this situation : You are very excited to have a new client, but you are not sure how she would react to your mistake. What and how would you approach this situation
What is the most important characteristic of wheat flour : What is the most important characteristic of wheat flour in dough - Define and discuss the following yeast based bakery product characteristics
What is your holding period return on the investment : This year the value of the property has gone up to $950,000. You also received $85,000 in rental income for the year. What is your holding period return
What is the optimal number of heating oil futures : Assuming no daily settlement, what is the optimal number of heating oil futures contracts that need to be hedged
Calculate the weighted average cost of capital : An overdraft of $15 million attracts an interest rate of 6% pa compounded monthly. Calculate the Weighted Average Cost of Capital

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd