Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a barrier island that is connected to the mainland by a high bridge. One resort is located on the beach and is called the Crystal Coast Resort. The other resort is located on the waterway which passes between the town and the mainland; it is called the Harborview Resort, Some key information about the two resorts for the current year is shown below. Harborview $ 3,500 75,000 60 Crystal Coast $ 6,500 225,000 140 $ 640,000 Total $ 10,000 300,000 200 $ 160,000 $ 800,000 The nontraceable operating costs of the resort amount to $4,000,000. By careful study, the management accountant at Sand and Sea has determined that, while the costs are not directly traceable, the total of $4 million could be fairly allocated to the four cost drivers as follow Revenue (000s) Square feet Rooms Assets (000s) Cost Driver Revenue Square feet Rooms Assets (000s) Using the information regarding the allocation of the $4 million to the four cost drivers, determine the amount of cost to be allocated to the Harborview Resort Multiple Choice OOOOO $1,061.000 $904.250. $1,516.000 $722,000 Amount Allocated $ 245,000 $1,697,000 150,000 600,000 3,005,000

Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a barrier island that is connected to the mainland by a high bridge. One resort is located on the beach and is called the Crystal Coast Resort. The other resort is located on the waterway which passes between the town and the mainland; it is called the Harborview Resort, Some key information about the two resorts for the current year is shown below. Harborview $ 3,500 75,000 60 Crystal Coast $ 6,500 225,000 140 $ 640,000 Total $ 10,000 300,000 200 $ 160,000 $ 800,000 The nontraceable operating costs of the resort amount to $4,000,000. By careful study, the management accountant at Sand and Sea has determined that, while the costs are not directly traceable, the total of $4 million could be fairly allocated to the four cost drivers as follow Revenue (000s) Square feet Rooms Assets (000s) Cost Driver Revenue Square feet Rooms Assets (000s) Using the information regarding the allocation of the $4 million to the four cost drivers, determine the amount of cost to be allocated to the Harborview Resort Multiple Choice OOOOO $1,061.000 $904.250. $1,516.000 $722,000 Amount Allocated $ 245,000 $1,697,000 150,000 600,000 3,005,000

Administration Of Wills/Trusts/ And Estates

5th Edition

ISBN:9781285281308

Author:Brown

Publisher:Brown

Chapter9: Specialized Trusts

Section: Chapter Questions

Problem 2CTD

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Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a barrier island that is connected to the mainland by a high bridge. One resort is located on the beach and is called the Crystal Coast Resort. The other resort is located on the inland waterway which passes between the town and the mainland; it is called the Harborview Resort. Some key information about the two resorts for the current year is shown below. Harborview Crystal Coast Total Revenue (000s) $ 3,500 $ 6,500 $ 10,000 Square feet 75,000 225,000 300,000 Rooms 60 140 200 Assets (000s) $ 160,000 $ 640,000 $ 800,000 The nontraceable operating costs of the resort amount to $4,000,000. By careful study, the management accountant at Sand and Sea has determined that, while the costs are not directly traceable, the total of $4 million could be fairly allocated to the four cost drivers as follows.…
Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a barrier island that is connected to the mainland by a high bridge. One resort is located on the beach and is called the Crystal Coast Resort. The other resort is located on the inland waterway which passes between the town and the mainland; it is called the Harborview Resort. Some key information about the two resorts for the current year is shown below. Harborview Crystal Coast Total Revenue (000s) $3,500 $6,500 $10,000 Square feet 75,000 225,000 300,000 Rooms 60 140 200 Assets (000s) $136,000 $544,000 $680,000 The nontraceable operating costs of the resort amount to $4,000,000. By careful study, the management accountant at Sand and Sea has determined that, while the costs are not directly traceable, the total of $4 million could be fairly allocated to the four cost drivers as follows. Cost Driver Amount Allocated…
Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a barrier island that is connected to the malnland by a high bridge. One resort is located on the beach and Is called the Crystal Coast Resort. The other resort is located on the Inland waterway which passes between the town and the malnland; It is called the Harborvlew Resort. Some key Information about the two resorts for the current year Is shown below. Harborview Crystal Coast $ 6,175 250,000 Total Revenue (000s) $ 3,825 $ 10,000 Square feet 80, 000 330,000 Rooms 66 150 216 Assets (000s) $ 110,000 $ 440,000 $ 550,000 The nontraceable operating costs of the resort amount to $4000,000. By careful study, the management accountant at Sand and Sea has determined that, while the costs are not directly traceable, the total of $4 million could be falrly allocated to the four cost drivers as follows. Amount Cost Driver Allocated Revenue $ 185,000 Square feet 115,000 Rooms 580,000 Assets (000s)…
TB MC Qu. 18-107 (Algo) The amount of cost to be allocated to the Harborview Resort: Sand and Sea Resorts Sand and Sea Resorts owns and operates two resorts in a coastal town. Both resorts are located on a barrier island that is connected to the mainland by a high bridge. One resort is located on the beach and is called the Crystal Coast Resort. The other resort is located on the inland waterway which passes between the town and the mainland; it is called the Harborview Resort. Some key information about the two resorts for the current year is shown below. Revenue (000s) Square feet Rooms Assets (000s) Harborview $ 3,500 75,000 60 $ 178,000 Cost Driver Revenue Square feet Rooms Assets (000s) Crystal Coast $ 6,500 225,000 140 $ 712,000 The nontraceable operating costs of the resort amount to $4,000,000. By careful study, the management accountant at Sand and Sea has determined that, while the costs are not directly traceable, the total of $4 million could be fairly allocated to the four…
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Warren Marina owns a large marina that contains numerous boat slips of various sizes. Warren contracts with boat owners to provide slips to house the customers' boats. Lucky Fisherman Fleet contracted with Warren to provide space for four of its fishing boats. The contract specifies that Lucky Fisherman's boats will be kept in identified slips in the marina. The agreement includes the requirement that Warren provide 45-foot slips per boat for a three-year period, space that Lucky Fisherman can modify with fenders, docklines, and equipment needed to conduct its fishing business. Warren cannot switch locations of the boats or modify the slips without Lucky Fisherman's consent. Lucky Fisherman Fleet paid $21,000 on March 1, 2021, for the first year's accommodations. The market rate of interest is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Prepare the appropriate entry(s) for Lucky Fisherman…
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Required Information [The following information applies to the questions displayed below.] Spinnaker Museum of Salling (SMS) is a popular tourist site in a coastal town. The museum boasts a large collection of both current salling exhibits and historical displays focused on ocean exploration and maritime adventures. SMS, like many museums, is a not-for-profit organization, but it charges for admission and operates a highly-rated book shop on- site. The museum has several operating divisions. One of them, the Visitor Division, is responsible for activities related to visits from the public, such as collecting admission fees, providing coat and bag check service, operating the book store, and so on. The museum's financial director has provided the forecasted cost of the Visitor Division for the upcoming year, beginning July 1. SMS expects 250,000 visitors in the next fiscal year. Labor (variable) Miscellaneous (variable) Supervision (fixed) Miscellaneous (fixed) The average admission fee…
Required Information [The following information applies to the questions displayed below.] Spinnaker Museum of Salling (SMS) is a popular tourist site in a coastal town. The museum boasts a large collection of both current sailing exhibits and historical displays focused on ocean exploration and maritime adventures. SMS, like many museums, is a not-for-profit organization, but it charges for admission and operates a highly-rated book shop on- site. The museum has several operating divisions. One of them, the Visitor Division, is responsible for activities related to visits from the public, such as collecting admission fees, providing coat and bag check service, operating the book store, and so on. The museum's financial director has provided the forecasted cost of the Visitor Division for the upcoming year, beginning July 1. SMS expects 250,000 visitors in the next fiscal year. Labor (variable) Miscellaneous (variable) Supervision (fixed) Miscellaneous (fixed) The average admission fee…
Required Information [The following information applies to the questions displayed below.] Spinnaker Museum of Salling (SMS) is a popular tourist site in a coastal town. The museum boasts a large collection of both current sailing exhibits and historical displays focused on ocean exploration and maritime adventures. SMS, like many museums, is a not-for-profit organization, but it charges for admission and operates a highly-rated book shop on- site. The museum has several operating divisions. One of them, the Visitor Division, is responsible for activities related to visits from the public, such as collecting admission fees, providing coat and bag check service, operating the book store, and so on. The museum's financial director has provided the forecasted cost of the Visitor Division for the upcoming year, beginning July 1. SMS expects 250,000 visitors in the next fiscal year. Labor (variable) Miscellaneous (variable) Supervision (fixed) Miscellaneous (fixed) The average admission fee…