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Fofino [41]
3 years ago
6

Marx and Springsteen provides​ hair-cutting services in the local community. In February, the business cut the hair of 200 ​clie

nts, earned $ 5,100 in​ revenues, and incurred the following operating​ costs:
Hair saloon expense: $500
Building rent expense: 1458
Utilities expense: 200
Depreciation expense--- Equipment: 50

Required:
What was the cost of service to provide one haircut?
Business
1 answer:
ozzi3 years ago
5 0

Answer:

Cost of service to provide one haircut is $ 11.04

Explanation:

Hair saloon expense: $500

Building rent expense: $1,458

Utilities expense: $200

Depreciation expense --- Equipment: $50

Total operating cost = Hair saloon expense + Building rent expense + Utilities expense + Depreciation expense

= $500 + $1,458 + $200 + $50

= $ 2,208

Total hair cuts = 200

Therefore, cost per hair cut = Total operating cost ÷ Total hair cuts

= $2,208 ÷ $200

=  $ 11.04

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On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $56,000. Residual value at the end of an estimated four-yea
77julia77 [94]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Purchasing price= $56,000

Residual value= $2,000

Estimated useful life= 4 years

A. To calculate the depreciation expense under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (56,000 - 2,000)/4

Annual depreciation= 13,500

2021= (13,500/12)*= $10,125

2022= 13,500

B. To calculate the depreciation expense under the double-declining balance method, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

2021= [(2*13,500)/12]*9= $20,250

2022= [(54,000 - 20,250)/4]*2= $16,875

C. To calculate the depreciation expense under the units of production method, we need to use the following formula:

Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated

The company expects the equipment to operate for 15,000 hours. The equipment operated for 3,500 and 4,300 hours in 2021 and 2022, respectively.

2021= (54,000/15,000)*3,500= $12,600

2022= 3.6*4,300= $15,480

3 0
3 years ago
Department S had no work in process at the beginning of the period. 13,934 units of direct materials were added during the perio
love history [14]

Answer:

Option (B) is correct.

Explanation:

Equivalent units of production(EUP) - Materials:

= Transferred out + Ending balance

= 10,451 units × 100% + 3,483 units × 100%

= 10,451 + 3,483

= 13,934

Equivalent units of production(EUP) - conversion:

= Transferred out + Ending balance

= 10,451 units × 100% + 3,483 units × 36%

= 10,451 + 1,253.88

= 11,704.88

Material cost = \frac{Cost\ of\ direct\ material}{EUP\ material}\times units\ transferred\ out

Material cost = \frac{97,538}{13,934}\times 10,451

                      = 73,157

Conversion cost = \frac{Direct labor+overhead}{EUP\ conversion}\times units\ transferred\ out

Conversion cost = \frac{51,257+8,903}{11,705}\times 10,451

Conversion cost = \frac{60,160}{11,705}\times 10,451

                            = 53,715

Therefore,

Total cost of units completed during the period(10,451 units):

= Material cost + Conversion cost

= 73,157 + 53,715

= 126,872

5 0
3 years ago
Bia garden store makes two types of gazebo. Making a wooden gazebo requires 4 hours of labor while making a metal gazebo require
Artyom0805 [142]

Answer:

C.$16 of overhead cost should be assigned to each wooden gazebo and

   $40 of overhead cost should be assigned to each metal gazebo

Explanation:

2,000 wooden x 4 hours = 8,000 labor hours

500 metal x 10 = 5,000 labor hours

total hours 13,000

single manufacturing overhead: 52,000 / 13,000 = $4 per labor hours

wooden gazebos:  4hours x $4 = $ 16

metal gazebos:    10 hours x $4 = $40

8 0
3 years ago
Jason is shopping at Hollister. Hollister has a sale: spend $100 saves 10%. If Jason buys clothes that costs $100, how much will
densk [106]

Answer:

$90

Explanation:

Hollister has an offer of 10%  savings for every purchase.

Jason buys clothes for $100. His savings will be 10% of $100

=10/100 x100

=0.1 x 100

=$10

Jason will pay

=$100 - $10

=$90

Jason will pay $90

8 0
3 years ago
8) walter co. and sandburg industries report the following information at december 31: walter sandburg accounts receivable $41,0
True [87]

Walter Co. is a manufacturer because it uses raw materials, and has a stock of merchandise inventory, work-in-progress inventory, and finished goods inventory. The current assets of Walter Co. will be:

Current Assets:

Cash                                                          6,000

Inventories

Raw materials inventory       21,000

Work in progress inventory  40,000

Finished goods inventory      25,000

Merchandise inventory           48,000

Total inventory                                      1,34,000

Other assets

Accounts receivable                               41,000

Prepaid expenses                                     1,000

Current assets                                                               2,22,000

A manufacturing company is a company that takes in raw materials processes the raw materials and then sells the finished goods manufactured in the market. So the current assets section of the balance sheet of Walter Co. is given which will be written on the right side of the balance sheet.

Learn more about manufacturing companies here:

brainly.com/question/14942185

#SPJ4

3 0
1 year ago
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