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- Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul’s busiest months: June 1 cash balance $16,000. June 1 supplies on hand $4,400. June 1 accounts receivable $9,100. June 1 accounts payable $4,300. Estimated sales for June, July, and August are $27,300, $41,000, and $43,900, respectively.…Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 70 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul’s busiest months: June 1 cash balance $14,500. June 1 supplies on hand $3,900. June 1 accounts receivable $8,100. June 1 accounts payable $3,800. Estimated sales for June, July, and August are $24,300, $36,500, and $38,900,…Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 70 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: June 1 cash balance $16,700. June 1 supplies on hand $4,500. June 1 accounts receivable $9,400. • June 1 accounts payable $4,400. • Estimated sales for June, July, and August are $28,200, $42,300, and $45,000,…
- Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 80 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: June 1 cash balance $16,300. June 1 supplies on hand $4,500. ⚫ June 1 accounts receivable $17,650. ⚫ June 1 accounts payable $2,800. " • • Estimated sales for June, July, and August are $27,900, $41,900, and $44,900,…Jason Rogers works full-time for UPS and runs a lawn-mowing service part-time after work during the warm months of April through October. Jason has three men working with him, each of whom is paid $6.00 per lawn mowing. Jason has 27 residential customers who contract with him for once-weekly lawn mowing during the months of May through September, and twice-per-month mowings during April and October. On average, Jason charges $48 per lawn mowed. Recently, LStar Property Management Services asked Jason to mow the lawn at each of its 30 rental houses every two weeks during the months of May through September. LStar has offered to pay $30 per lawn mowing, and would forego the lawn edging that normally takes Jason’s team about half of its regular mowing time. If Jason accepts the job, he can assign a two-man team to mow the rental house yards, and will have to buy an additional power lawn mower for about $360 used. Fuel to run the additional mower will be about $0.40 per yard. 1. If Jason…Andre works for bakery as a cake decorator and receives a based annual salary of $30,000(paid weekly) as well as piece-rate of 25% of the retail price for any wedding cake that he decorates. His piece-rate earning are totaled on a monthly basis and are paid on the first pay date of te following month. During the month of June, he decorated eight wedding cakes with a total retail value of $2,650. What is Andre's gross pay for the first week in July? ( Do not round internedicate calculations. Round your answer to 2 decimal places.)
- Jason Rogers works full-time for UPS and runs a lawn-mowing service part-time after work during the warm months of April through October. Jason has two men working with him, each of whom is paid $6.00 per lawn mowing. Jason has 28 residential customers who contract with him for once-weekly lawn mowing during the months of May through September, and twice-per-month mowings during April and October. On average, Jason charges $38 per lawn mowed. Recently, LStar Property Management Services asked Jason to mow the lawn at each of its 25 rental houses every two weeks during the months of May through September. LStar has offered to pay $25 per lawn mowing, and would forego the lawn edging that normally takes Jason’s team about half of its regular mowing time. If Jason accepts the job, he can assign a one-man team to mow the rental house yards, and will have to buy an additional power lawn mower for about $345 used. Fuel to run the additional mower will be about $0.50 per yard. . If Jason…Patricia's Quilt Shoppe sells homemade Amish quilts. Patricia buys the quilts from local Amish artisans for $220 each, and her shop sells them for $370 each. She also pays a sales commission of 4% of sales revenue to her sales staff. Patricia leases her country-style shop for $800 per month and pays $1,600 per month in payroll costs in addition to the sales commissions. Patricia sold 95 quilts in February. Prepare Patricia's traditional income statement and contribution margin income statement for the month. Prepare the traditional income statement for the month. Patricia's Quilt Shoppe Income Statement For the Month Ended February 28 Less: Less: AElliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of 25,750 and is capable of processing as many as 6,500 purchase orders per year. Each clerk uses a PC and laser printer in processing orders. Time available on each PC system is sufficient to process 6,500 orders per year. The cost of each PC system is 1,100 per year. In addition to the salaries, Elliott spends 27,560 for forms, postage, and other supplies (assuming 26,000 purchase orders are processed). During the year, 25,350 orders were processed. Required: 1. Classify the resources associated with purchasing as (1) flexible or (2) committed. 2. Compute the total activity availability, and break this into activity usage and unused activity. 3. Calculate the total cost of resources supplied (activity cost), and break this into the cost of activity used and the cost of unused activity. 4. (a) Suppose that a large special order will cause an additional 500 purchase orders. What purchasing costs are relevant? By how much will purchasing costs increase if the order is accepted? (b) Suppose that the special order causes 700 additional purchase orders. How will your answer to (a) change?
- On December 1, 2019, AwakcAllNight Inc. sells 5,000 super caffeinated candy bars to Campus Grocers. The candy bars sell for 3 per bar. In addition, AwakcAllNight pays Campus Grocers a 900placement fee to ensure that its candy bars are always stocked prominently by the cash register. The 900 is paid at the end of each month based on the results of random inspections of Campus Grocers by AwakcAllNight to ensure that the terms of the contract are being followed. Required: 1. Determine the transaction price for Awake AllNights revenue contract. 2. Prepare AwakeAllNights journal entries to recognize sales revenue and pay Campus Grocers the placement fee.Tyne, now retired, owns the Downtown Beauty Shop. She employs five (5) stylists and pays each a base rate of $500 per month. One of the stylists serves as the manager and receives an extra $300 per month. In addition to the base rate, each stylist also receives a commission of $3 per haircut. A stylist can do as many as 20 haircuts a day. The Downtown Beauty Shop is open 24 days a month. You can safely ignore income taxes. Other costs are incurred as follows: Advertising $ 200 per month Rent $ 400 per month Beauty Supplies $ 0.90 per haircut Utilities $ 175 per month plus $0.35 per haircut Magazines $ 25 per month Cleaning Supplies $ 0.15 per haircut ________________________________________ Renee currently charges $8 per haircut. Required: (a) Compute the break-even point in (1) number of haircuts, (2) total sales dollars, and (3) as a percentage of capacity. (b) In July, 1,400 haircuts were given. Compute the operating profits for the month. (c) Renee wants a $2,160…Lambie Custodial Services (LCS) offers residential and commercial janitorial services. Clients are billed monthly but can cancel the service at the end of any month. In addition to the employees who do the actual cleaning, the firm employs two managers who handle the administrative tasks (human resources, accounting, and so on) and one dispatcher, who assigns the cleaning employees to jobs on a daily basis. On average, residential clients pay $600 per month for weekly cleaning services and the commercial clients pay $2,600 per month for daily service (weekdays only). A typical residential client requires 15 hours a month for cleaning and a typical commercial client requires 69 hours a month. In September, LCS had 75 commercial clients and 80 residential clients. Cleaners are paid $20 per hour and are only paid for the hours actually worked. Supplies and other variable costs are estimated to cost $10 per hour of cleaning. Other monthly costs (all fixed) are $29,000 selling, general, and…