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nikklg [1K]
3 years ago
5

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

one time) takes a team of three house cleaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings:Direct materials ?Direct labor $472,500Variable overhead 15,000Fixed overhead 18,000Next year, HHH expects to purchase $25,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows:Direct Materials InventoryBeginning $4,000Ending 2,600There is no work-in-process inventory and no finished goods inventory; in other words, a cleaning is started and completed on the same day.Required:1. Prepare a statement of cost of services sold in good form. If an amount is zero, enter "0".Happy Home Helpers, Inc.Statement of Cost of Services SoldFor the Coming Year
Business
1 answer:
aev [14]3 years ago
7 0

Answer:

$532,500

Explanation:

The question is to compute the Statement of Cost of Services Sold for Happy Home Helpers Inc.

To compute this statement, the approach is to sum all direct costs associated with the service provided by the firm.

Particulars                                                     Amount            Amount

Opening Inventory Of Materials                  $4,000

Add: The Purchase of Direct Materials       $<u>25,600</u>

Direct Material available                               $29,600

Subtract: Closing Inventory of materials    <u>   ($2600)</u>

The Direct Material Used for the year                                $27,000

Add:

Direct Labour Cost                                          $472,500

Variable Overhead Cost                                    $15,000

Fixed Overhead cost                                          $18,000

                                                                                               $505,500

The Cost of Services of HHH Inc                                          $532,500

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Cherries on Top, a national ice cream shop, is struggling financially to keep up with the bigger chains. The top executives have
Serggg [28]

Answer:

The correct answer is B

Explanation:

Utilitarian approach or method is the approach which assesses or analyze the actions in terms of the outcomes or results, that is the net costs and the benefits to all the stakeholders on individual level.

This approach aspire or attempt to accomplish the greatest good for the  numbers when creating the least amount for preventing the suffering of the greatest amount.

So, the shop uses or practice the approach of utilitarian as it will provide them the extra one million dollar to put it in the marketing.

7 0
3 years ago
Megan and Steve have found a home they want to purchase. The selling price is $320,000. They will put 20% down and get a 30 year
Kryger [21]

Answer:

c. $1,934.85

Explanation:

given data

selling price is $320,000

down payment  = 20 %

APR  r = 6% =  0.005  monthly

Insurance amount i = $1,800 per year

taxes T = $3,000 per year

Total time period n = 30 year  = 360 months

solution

first we get here Principal Amount on the Loan that is

P = $320,000 - 20% down payment

P = $320,000 - $64,000 = $256,000

and now we get here Monthly PITI Payment  that is express as

C = \frac{r\times P }{1-(1+r)^{-n}} + \frac{T}{12} + \frac{i}{12}   ...............1

C = \frac{0.005 \times 256000 }{1-(1+0.005)^{-360}} + \frac{3000}{12} + \frac{1800}{12}    

so The Monthly Payment is $1934.85.

correct answer is  c. $1,934.85

4 0
3 years ago
which theory views the global economic system as divided between nations that control wealth and those that provide natural reso
Dafna1 [17]

Answer:

The correct answer is the world systems theory.

Explanation:

The world-systems theory is a socioeconomic theory. It was developed by sociologist Immanuel Wallerstein. According to this theory, the countries of the world can be classified into three types.

1. Core countries

2. Semi periphery countries and,

3. Periphery countries

There are countries which are powerful and control wealth and capital who exploit other less powerful and poor countries which have natural resources and labor.

4 0
3 years ago
Dioxin emission that results from the production of paper is a good example of a negative externality because:
yKpoI14uk [10]

Answer:

Option (c) is correct.

Explanation:

There are two types of externality are as follows:

(a) Positive externality

(b) Negative externality

Negative externality occurs when a third person is affected by the engagement of two parties. It means that there is a reduction in the consumption function of the third person from the production of goods by the other parties.

In our case, a firm which produces paper and from this production of paper there is an emission of Dioxin which affect the consumption of nearest persons or firms.

Therefore, a paper producing firm have to consider all the externality while calculating the total cost.

4 0
3 years ago
A company provided $1,500 of services to customers during the month of May. The customers paid in June. What would the impact of
alex41 [277]

Answer:

The answer is 3. accrual basis net income

Explanation:

Accrual basis is the effects of transactions on a reporting entity's economic resources in the period in which those transactions occur, even if the resulting cash receipt and payment occur in a different time.

The $1,500 will be recorded in the month of May

Cash basis recognizes transactions in the period in which cash receipts and payment occur. This can be found in government account.

Option 1 is not correct because this is not a basis in preparing financial statement

6 0
3 years ago
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