1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Note: Do not round your Intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount. Answer is complete but not entirely correct. $ 0.88 per occupancy-day $ 3,454 Xper month Variable cost of electricity Fixed cost of electricity 2. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? than one answer. Single click the box with the question mark to produce a check mark for a correc
Q: QUESTION 6 A company purchased equipment at the beginning of 2024 for $500,000. The equipment is…
A: Depreciation is considered an expense charge on the value of the asset. It can be calculated by…
Q: Mechforce Manufacturing's net Income was $580,000 on sales of $18 million. Average assets for the…
A: Turnover is calculated by dividing net sales revenue by average operating assets. The average…
Q: Zekany Corporation would have had identical income before taxes on both its income tax returns and…
A: Journal entries refer to the recording of financial transactions in a company’s accounting system.…
Q: The following equity investment transactions were completed by Vintage Company during a recent year:…
A: Investments are made through the purchase of bonds or shares or other financial instruments by…
Q: The variable shown on the vertical axis is The units for the variable on the horizontal axis are…
A: We have given a graph which indicates the relationship between income earned and the price of the…
Q: Jayden's Carryout Stores has eight locations. The firm wishes to expand by two more stores and needs…
A: The cash budget is financial report prepared under budgeting that represents an estimation of cash…
Q: Kubin Company's relevant range of production is 20,000 to 23,000 units. When it produces and sells…
A: Manufacturing costs are the total costs directly associated with the product. These are the costs…
Q: Brian, the owner of a local poster shop, comes to you for help. "We've only been breaking even the…
A: The profit generated by a company's continuous activities is reported as operating income. Operating…
Q: 7 Labor cost.... Breakeven analysis and target profit, taxes, what - if analysis Pome Company…
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Q: Based on the following transactions, answer the following questions. ii. iii. iv. V. vi. vii.…
A: Under the cash basis of accounting all the revenue is considered only at the time of receipt of…
Q: 1. What is the incremental manufacturing cost incurred if the company increases production from…
A: The increment cost is the additional cost which has incurred over the products which has been…
Q: Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of…
A: The dividend is declared to the shareholders from the retained earnings of the business. The…
Q: The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $ 30,000…
A: Financial statements are prepared for the purpose of determining the profitability position,…
Q: Differential costs are synonymous with: Select one: a. variable costs b. relevant costs c.…
A: Answer:- Relevant costs and benefits are those that will differ between alternatives. They are the…
Q: Question 29 Cases Ltd sells premium phone cases. The following data are available regarding their…
A: Sales volume variance is one of important analysis being done in business. This shows difference…
Q: Who is the person who will receive lifetime payments from an annuity? OA) Administrator O B)…
A: An annuity is a financial product or contract that provides a series of payments made at equal…
Q: Our new computer system cost us $100,000. We will outgrow it in five years. When we sell it, we will…
A: Assets -Any object owned or managed by a firm is called an asset. It can be turned into cash or…
Q: Share and comment your managers' skills after reflecting on these questions: does your supervisor,…
A: The objective of this question is to reflect on the management skills of your supervisor or manager…
Q: Balcom Enterprises is planning to introduce a new product that will sell for $110 a unit.…
A: A financial indicator known as the contribution margin per unit shows how much income is generated…
Q: Estimated total machine-hours used Molding 2,500 Fabrication 1,500 Total 4,000 Estimated total fixed…
A: PREDETERMINED OVERHEAD RATEPredetermined rate means the indirect cost rate.Predetermined overhead…
Q: Challenges Faced: While XYZ Corporation strives for accuracy and compliance, challenges arise in…
A: Business expenses are the expenses incurred during business operations whereas personal expenses are…
Q: 3. San Lorenzo General Store uses a periodic inventory system and the retail inventory method to…
A: Inventory includes all the items, merchandise, and raw materials that are used by the business…
Q: iller Company acquired an 80 percent interest in Taylor Company on January 1, 2022. Miller paid…
A: Out of the profit earned by the business entity, some of them are distributed to the shareholders in…
Q: The following account balances are for Ping Chung, Certified Public Accountant, as of April 30,…
A: The financial statements are prepared by the business entity to show the performance of the…
Q: All-Star Automotive Company experienced the following accounting events during Year 2: 1. Performed…
A: A statement which shows inflow and outflow of cash under three different activities, called as cash…
Q: 6. Dexter Corporation forecast the following units and selling prices. Year 1 Year 2 1,000 $10 1,500…
A: The budget is prepared to estimate the requirements for the period. The production budget is…
Q: Based on the following transactions, answer the following questions. i. Purchased inventory with a…
A: Cash basis of accounting :— According to this, revenue is recorded in books of account when cash…
Q: ! Required information [The following information applies to the questions displayed below.] Vernon…
A: The question is related to Income Statement for Year 1
Q: Merchandise is sold on account to a customer for $17,800, terms FOB shipping point, 1/10, n /30. The…
A: The credit terms is 1/10, n/30 which means if the payment has been paid within 10 days, then 1%…
Q: es aw 11 QS 1-10 (Algo) Identifying effects of transactions using accounting equation-Revenues and…
A: Accounting Equation: Total assets equal total liabilities and equity, according to an accounting…
Q: B12 Corporation is currently in the sixth year of its existence (2023). In 2018-2022, it reported…
A: Businesses can use net operating losses (NOLs) as a crucial tool for tax planning, spreading out…
Q: Assigning manufacturing overhead to product is complicated because it is an indirect cost many…
A: Manufacturing overhead is an indirect cost which means it is either impossible or difficult to trace…
Q: 9.4 elected Stock Transactions The following selected accounts appear in the ledger of Upscale…
A: A journal entry is a systematic recording of financial transactions in a company's accounting…
Q: James's Televisions produces television sets in three categories: portable, midsize, and…
A: The last-in, first-out method is also known as the LIFO method. It is a method in which the goods…
Q: es of Silver Fox comm ox preferred stock
A: Wash Sale Rule:If you sell a a stock for a loss and buy back within 30 days after the loss-sale date…
Q: A review of the accounting records of Perez Manufacturing indicated that the company incurred the…
A: Manufacturing costs are the costs incurred in the manufacturing of the product during the period.…
Q: The unwing accounts are taken um cquinunun Kuny, corporateu, a cumpany una speciales para ayu…
A: Financial statements are the reports prepared by the entity at the end of the period so as to…
Q: True False
A: Overhead allocation involves distributing indirect production costs to products or services based on…
Q: Hawthorn Company purchased a piece of equipment for $25,000 and has accumulated depreciation of…
A: A journal is a detailed account that records all the financial transactions of a business, to be…
Q: Harris Company manufactures and sells a single product. A partially completed schedule of the…
A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…
Q: Interest (After Tax) Net Income (Loss) Supplementary Info Gross Profit/loss Operating Income (Loss)…
A: Operations management is a field of business concerned with the planning, coordination, and control…
Q: The standard cost sheet for Elger Mountain Manufacturing's (EMM) most popular product shows 3 pounds…
A: DIRECT MATERIALS COST VARIANCEDirect materials cost variance is the difference between the actual…
Q: Kenneth owns Sheffield Company and has the following revenue and expenses. Calculate the after-tax…
A: Taxable Income = Taxable Revenue − Deductible Expenses + Tax-Exempt RevenueTaxable Income = $117,000…
Q: Scott and Bonnue, married taxpayers, earn $258,000 in taxable income and $7,700 in interest from an…
A: The marginal tax rate that would apply to a taxpayer's final (or subsequent) dollar of income. In…
Q: ollows: Debit Credit Prepaid airport rent $ 12,000 Prepaid insurance 5, 250 Airplane 360, on:…
A: Adjusting entry is journal entry passed at the end of the period to record any unrecognized income…
Q: 1. **Definition of Carried Interests:* - Carried interests are a share of profits that general…
A: Carried interest is a share of profits that general partners in an investment fund receive as…
Q: Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct…
A: PREDETERMINED OVERHEAD RATEPredetermined rate means the indirect cost rate.Predetermined overhead…
Q: Assume a company has three products-A, B, and C-that emerge from a joint process. The joint…
A: Manufacturing process can be called a joint manufacturing process in which more than one product is…
Q: Effect of Transactions on Accounting Equation a. A vacant lot acquired for $324,000 is sold for…
A: As per dual principle of accounting, every transaction has a dual impact on the books of…
Q: ABC partnership whose owners consist Ateng, Bagio and Cecep share profits with a ratio of 5: 3: 2.…
A: 1. Calculate the Liquidation as follows:Calculate the loss on sale of equipment for June as…
Step by step
Solved in 4 steps with 4 images
- The Cheyenne Hotel in Big Sky, Montana, recorded its total electrical costs and number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month January February March April May June July August September October November December Occupancy-Days 3,180 2,920 3,780 2,160 650 2,050 4,050 4,070 1,780 570 1,580 2,680 Electrical Costs $ 6,510 $ 6,261 Variable cost of electricity Fixed cost of electricity $ 7,392 $ 5,569 $ 1,820 $ 5,261 $ 7,829 $ 7,896 $ 4,984 $ 1,596 $ 4,424 $ 5,908 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Note: Do not round your Intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount. per occupancy-day per month 2. What other factors in addition to…The Cheyenne Hotel in Big Sky. Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for onie day. The hotel's business is highly seasonal, with peaks occunting during the ski season and in the summer. Honth January February March Aoril May June July August Septenber October Novenber Decenber Occupancy-Davs 4. 260 3.650 3. 160 2.150 2.260 1.450 3. 180 3.750 2.220 3.580 1,690 2.750 Electrical Conts $ 15.002 $ 14,112 $ 13.272 $9.000 $9.432 $6.00 S 19.356 $ 14.532 $9,324 $6.636 $7. 000 $ 11.580 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.) es Variable cost of electricity Fixed cost of electricity per occupancy day per…The Cheyenne Hotel in Big Sky, Montana, recorded its total electrical costs and number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month January February March April May June July August September October November December Occupancy- Days 2,830 3,340 3,650 1,840 750 1,830 3,890 1,700 4,060 2,260 1,350 290 Electrical Costs Variable cost of electricity Fixed cost of electricity $ 6,750 $ 7,410 $ 7,905 $ 5,520 $ 2,250 $ 5,490 $ 8,190 $ 5,100 $ 8,410 $ 6,780 $ 4,050 $ 870 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Note: Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount. per occupancy-day per month 2. What other factors in addition to…
- The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hoteland the number of occupancy-days over the last year. An occupancy-day represents a room rented out for oneday. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer.Month Occupancy-Days Electrical CostsJanuary ..................... 1,736 $4,127February .................... 1,904 $4,207March ........................ 2,356 $5,083April ........................... 960 $2,857May ........................... 360 $1,871June .......................... 744 $2,696July ............................ 2,108 $4,670August ....................... 2,406 $5,148September ................ 840 $2,691October ..................... 124 $1,588November ................. 720 $2,454December ................. 1,364 $3,529Required:1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost ofelectricity per occupancy-day.…The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month January February March April May June July August September October November December Occupancy- Days 3,240 3,060 1,150 2,260 4,310 1,270 3,410 640 1,310 3,760 1,330 2,570 Electrical Costs $ 8,622 $ 8,228 Variable cost of electricity Fixed cost of electricity $ 3,910 $ 7,684 $ 10,984 $ 4,318 $ 9,418 $ 2,176 $ 4,454 $ 9,738 $ 4,522 $7,868 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.) Answer is complete but not…The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month January February March April May June July August September October November December Occupancy- Days 2,630 3,130 3,640 1,090 1,770 1,730 4,440 3,860 2,170 1,210 1,790 2,930 Electrical Costs $ 10,783 $ 12,833 $ 13,583 $ 4,469 Variable cost of electricity Fixed cost of electricity $ 7,257 $ 7,093 $ 14,854 $ 13,815 $8,897 $ 4,961 $ 7,339 $ 12,013 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.) per occupancy-day per…
- he Amano Hotel has accumulated records of the total electrical costs of the Hotel and the number of occupancy-days over the last year. An occupancy- day represents a room rented out for one day. The hotel's business is highly Seasonal, with peaks occurring during the ski season and in the summer. Month January. February.. March.. Electrical Costs Оссирапсу-Days 2,604 2,856 3,534 1,440 P6,257 P6,550 P7,986 P4,022 P2,289 P3,591 P7,264 P8,111 P3,707 P1,712 Р3,321 P5,196 April.. Мay. June.. 540 July. August... September. October.. 1,116 3,162 3,608 1,260 186 1,080 2,046 November. December....The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented out for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January. . . . . . . . . . . . 1,736 $4,127 February . . . . . . . . . . . 1,904 $4,207 March . . . . . . . . . . . . . 2,356 $5,083 April . . . . . . . . . . . . . . 960 $2,857 May. . . . . . . . . . . . . . . 360 $1,871 June . . . . . . . . . . . . . .…The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented out for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January . . . . . . . . 1,736 $4,127 February . . . . . . . 1,904 $4,207 March . . . . . . . . . 2,356 $5,083 April . . . . . . . . . . 960 $2,857 May . . . . . . . . . . . 360 $1,871 June . . . . . . . . . . 744 $2,696 July . . . . . . . . . . . 2,108 $4,670 August . . . . . . . . 2,406 $5,148 September . . . . . 840 $2,691 October . . . . . . . 124 $1,588 November . . . . . .…
- The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 3,180 $ 6,510 February 2,920 $ 6,261 March 3,780 $ 7,392 April $ 5,569 May $ 1,820 June 2,050 $ 5,261 July 4,050 $ 7,829 August 4,070 $ 7,896 September 1,780 $ 4,984 October 570 $ 1,596 $4,424 $5,908 Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. 2,160 650 November 1,580 December 2,680The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 2,710 $ 5,270 February 3,600 $ 6,205 March 860 $ 2,150 April 2,170 $ 4,350 May 4,200 $ 7,160 June 1,530 $ 3,825 July 4,110 $ 7,050 August 4,060 $ 6,925 September 1,980 $ 4,090 October 1,160 $ 2,900 November 1,210 $ 3,025 December 2,480 $ 4,910 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.) What is the fixed cost of electricity per month?The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 3,250 $ 9,660 February 3,470 $ 10,185 March 3,660 $ 10,360 April 1,760 $ 6,160 May 1,350 $ 4,725 June 4,350 $ 11,575 July 3,280 $ 9,765 August 1,610 $ 5,635 September 700 $ 2,450 October 1,300 $ 4,550 November 1,640 $ 5,740 December 2,220 $ 7,770 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)