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Stop-n-Shop operates a downtown parking lot containing 800 parking spaces. The lot is open 2500 hours per year. The parking charge per car is 50 cents per hour; the average customer parks two hours. Stop-n-Shop rents the lot for $7250 per month. The lot supervisor is paid $24,000 per year. Five employees who handle the parking of cars are paid $300 per week for 50 weeks, plus $600 each for the two-week vacation period. Employees rotate vacations during the slow months when four employees can handle the reduced load of traffic. Lot maintenance, payroll taxes other costs of operating the parking lot include fixed costs of $30,000 per month and variable costs of 5 cents per parking-space hour. Instruction
a. Draw a cost-volume-profit graph for stop-n-shop on an annual basis. Use thousands of parking-space hours as the measure of volume of activity.(Stop-n-shop has an annual capacity of 2 million parking-space hours (800 spaces X 2,500 hours per years)) b. What is the contribution margin ratio? What is the annual break-even point in dollars of parking revenue?
A.are reported as current assets B.include cash equivalents C.do not include equity securities D.all of the above
information on the actual sales and inventory purchases of the law company for the first quarter followsales inventory
From the perspective of the Computer Desk Division and the company, should the order be accepted if the Executive Division plans on selling the desks in the outside market for $420 after incurring additional costs of $100 per desk?
oxygen co. is incorporated at the beginning of this year and engages in a number of transactions. the following journal
What is responsibility accounting? Is it used at your current (or former) place of employment, and if not, would it work? Why or why not?
Sheila was employed as an assistant manager at Kinkos. She was accused of theft and embezzlement, which she admitted to, and was fired. The following day at company headquarters, she signed a contract promising to repay the Company $2000. She made..
scholes systems supplies a particular type of office chair to large retailers such as target costco and office max.
The following checks were outstanding: no. 94, 121.16; No.96, 106.30; no. 99, 64.84. A deposit of 765.69 was not recorded on Donna's bank statement. Her checkbook shows a balance of 806.94. Prepare Donna's bank reconciliation.
1.why are top management support and cross-functional involvement crucial when attempting to implement an activity-based costing system? 2. why is the activity-based costing unacceptable for external financial reports?
jiminys cricket farm issued a 20-year 10 percent semiannual bond 2 years ago. the bond currently sells for 93 percent
Calculate the ratios in Exhibit 13.5 for which sufficient information is available. Round all calculations to two decimal places. A venture capitalist is considering buying shares in one of the two companies. Based on the data given, prepare a compar..
Why do proprietary type funds use full accrual accounting?
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