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Karo-lina-s [1.5K]
3 years ago
14

The following data apply to the provision of psychological testing services: Sales price per unit (1 unit = 1 test plus feedback

to client) $ 320 Fixed costs (per month): Selling and administration 22,000 Production overhead (e.g., rent of testing facilities) 15,000 Variable costs (per test): Labor for oversight and feedback 160 Outsourced test analysis 21 Materials used in testing 6 Production overhead 8 Selling and administration (e.g., scheduling and billing) 10 Number of tests per month 2,000 tests Required: Calculate the amount for each of the following (one unit = one test) if the number of tests is 2,000 per month. Also calculate if the number of tests decreases to 1,250 per month. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)
Business
1 answer:
Phoenix [80]3 years ago
6 0

Answer:

2,000 test

Revenues 2,000*$320=$640,000

Variable costs 2000*$205 ($160+$21+$6+$8+$10)=$410,000

Fixed costs=$37,000 ($22,000+$15,000)

Income =$193,000

1,250 test

Revenues 1,250*$320=$400,000

Variable costs 1,250*$205 ($160+$21+$6+$8+$10)=$256,250

Fixed costs=$37,000 ($22,000+$15,000)

Income =$106,750

Explanation:

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Answer:

recognized on March 31 after the delivery of the equipment

Explanation:

Revenue is recognized once the recognition criteria is met. These criteria includes;

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Given that the contract specified a delivery date of March 1.

The equipment was not delivered until March 31 and as such, the revenue for the contract should be recognized on March 31 after the delivery of the equipment.

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3 years ago
Arena, Inc. uses the direct method to prepare its statement merchandise inventory of cash flows. Use the following information r
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Explanation:

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3 years ago
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Answer:

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2 years ago
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The term ""umbrella insurance"" means a policy that provides coverage when a lawsuit is brought over injuries or damage the insu
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Answer:

The correct answer is Travelers Company.

Explanation:

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3 years ago
Widget Maker Manufacturing uses job costing. In​ May, material requisitions were $ 44,300 ​($ 39,700 of these were direct​ mater
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Answer:

Beginning Material = $11,500

Explanation:

given data

material requisitions = $44,300

direct​ materials = $39,700

raw material purchases = $58,100

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to find out

beginning raw materials inventory​ balance

solution

we know that Beginning Material is express as here

Beginning Material = Ending Material - Purchases + Requisitions ..............1

put here value in equation 1  we get

Beginning Material = Ending Material - Purchases + Requisitions

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Beginning Material = $11,500

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3 years ago
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