Blossom provides environmentally friendly lawn services for homeowners. Its operating costs are as follows. Depreciation (straight-line) $1,400 per month Advertising $100 per month Insurance $1,000 per month $13 per lawn $10 per lawn $2 per lawn Weed and feed materials Direct labor Fuel Blossom charges $50 per treatment for the average single-family lawn. For the month ended July 31, 2022, the company had total sales of $6,000.

Blossom provides environmentally friendly lawn services for homeowners. Its operating costs are as follows. Depreciation (straight-line) $1,400 per month Advertising $100 per month Insurance $1,000 per month $13 per lawn $10 per lawn $2 per lawn Weed and feed materials Direct labor Fuel Blossom charges $50 per treatment for the average single-family lawn. For the month ended July 31, 2022, the company had total sales of $6,000.

Name: Blossom provides environmentally friendly lawn services for homeowner
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Description: Blossom provides environmentally friendly lawn services for homeowners. Its operating costs are as follows.Depreciation (straight-line) $1,400 per monthAdvertising$100 per monthInsurance$1,000 per month$13per lawn$10per lawn$2 per lawnWeed and feed

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 7CE: Jean and Tom Perritz own and manage Happy Home Helpers. Inc. (HHH), a house-cleaning service. Each...

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Self-Construction Olson Machine Company manufactures small and large milling machines. Selling prices of these machines range from 35,000 to 200,000. During the 5-month period from August 1, 2019, through December 31, 2019, Olson manufactured a milling machine for its own use. This machine was built as part of the regular production activities. The project required a large amount of time front planning and supervisory personnel, as well as that of some of the companys officers, because it was a more sophisticated type of machine than the regular production models. Throughout the 5-month period, Olson charged all costs directly associated with the construction of the machine to a special account entitled Asset Construction Account. An analysis of the charges to this account as of December 31, 2019, follows: Olson allocates factory overhead to normal production as a percent of direct labor dollars as follows: Olson uses a flat rate of 40% of direct labor dollars to allocate general and administrative overhead. During the machine testing period, a cutter head malfunctioned and did extensive damage to the machine table and one cutter housing. This damage was not anticipated and was the result of an error in the assembly operation. Although no additional raw materials were needed to make the machine operational after the accident, the following labor for rework was required: Olson has included all these labor charges in the asset construction account. In addition, it included in the account the repairs and maintenance charges of 1,340 that it incurred as a result of the malfunction. Required: 1. Compute, consistent with GAAP and common practice, the amount that Olson should capitalize for the milling machine as of December 31, 2019, when it declares the machine operational. 2. Next Level Identify the costs you included in Requirement 1 for which there are acceptable alternative procedures. Describe the alternative procedure(s) in each case.