"Jefferson Sports Medicine, Inc., offers two types of physical exams for students : the basic physical and the extended physical. The charge for the basic physical is $60, while the charge for the extended physical is $135 . Jefferson expects to perform 220 basic physicals and 190 extended physicals in July, 235 basic and 200 extended in August, and 105 basic and 110 extended in September . Prepa re the sales budget for the service revenue expected from the physical exams performed for the second quarter (July through September}, with a column for each month and for the quarter in total."

Answers

Answer 1
Answer:

Answer:

                                The sales budget    

          Jefferson Sports Medicine, Inc budgets sales budget (Amounts in $)

                                                              Months                            

Physical examination    July           August         September   Total

Basic physical               13,200       14,100           6,300           33,600

Extended physical        25,650       27,000         14,850          67,500

                                                                                                  101,100              

Explanation:

The sales expense shows the forecasted of sales from the various types of physical examination for a given period. These include the sales expected from Physical examination. The sales are the products of the charge per examination and the number of examinations conducted. It may be computed as follows;

July;

Physical examination

= $60 * 220

= $13,200

Extended physical

= $135 * 190

= $25,650

August

= $60 * 235

= $14,100

Extended physical

= $135 * 200

= $27,000

September

= $60 * 105

= $6,300

Extended physical

= $135 * 110

= $14,850


Related Questions

Peter Lynchpin wants to sell you an investment contract that pays equal $13,200 amounts at the end of each of the next 22 years. If you require an effective annual return of 9 percent on this investment, how much will you pay for the contract today?
Wayne and celia had been married for 24 years before wayne died in an accident in 2014 . celia and her​ son, wally, age 21 in 2014 ​, continued to live at home in 2014 ​, 2015 ​, 2016 ​, and 2017 . wally worked​ part-time (earning​ $5,000 in each of the four​ years) and attended the university on a​ part-time basis. celia provided more than​ 50% of​ wally's support for all four years. what is​ celia's filing status for 2014 ​, 2015 ​, 2016 ​, and 2017 ​?
What is an example of a secured credit?
Cash 5,345 Accounts Receivable 2,662 Prepaid Expenses 725 Equipment 14,421 Accumulated Depreciation 6,970 Accounts Payable 1,643 Notes Payable 5,223 Common Stock 1,000 Retained Earnings 6,003 Dividends 664 Fees Earned 7,033 Wages Expense 2,463 Rent Expense 804 Utilities Expense 441 Depreciation Expense 234 Miscellaneous Expense 113 Totals 27,872 27,872 Determine the net income (loss) for the period.
When a consultant prepared marketing dashboards showing sales data for different household types over a four-year period for Tony's pizza, this was which step of the marketing research approach?

In its first year of operations, Gomes Company recognized $28,000 in service revenue, $6,000 of which was on account and still outstanding at year-end. The remaining $22,000 was received in cash from customers. The company incurred operating expenses of $15, 800. Of these expenses, $12,000 were paid in cash; $3, 800 was still owed on account at year-end. In addition, Gomes prepaid $2, 400 for insurance coverage that would not be used until the second year of operations. (a) Calculate the first year's net earnings under the cash basis of accounting, and calculate the first year's net earnings under the basis of accounting.
(b) Which basis of accounting (cash or accrual) provides more useful information for decision-makers?

Answers

Answer:

a. The first year's net earnings under the cash basis of accounting is $7,600 and the first year's net earnings under the basis of accounting is $12,200

b. Accrual basis of accounting provides more useful information.

Explanation:

a. In order to calculate the first year's net earnings under the cash basis of accounting we would have to use the following formula:

Cash basis net earnings = Service revenue (Cash) – Cash expenses – Prepaid expenses

Cash basis net earnings =$22,000 – $12,000 – $2,400

Cash basis net earnings =$7,600

In order to calculate the first year's net earnings under the the basis of accounting we would have to use the following formula:

Accrual basis net earnings = Service revenue – Operating expenses incurred

Accrual basis net earnings= $28,000 – $15,800

Accrual basis net earnings=$12,200

b. Accrual basis of accounting provides more useful information, because in this system revenues are recorded what actually earned and expenses are recorded what actually incurred for earning such revenues. Therefore, it gives better profit picture

Crane uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost $11.00 each. During the month, the company made two purchases: 3100 units at $12.00 each and 12200 units at $12.50 each. Crane also sold 12700 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month

Answers

Answer:

$151,673

Explanation:

Average cost method calculate the cost of the inventory on the average price basis. Cost of goods sold is the cost of the goods sold in the given period.

Description                   Units       Rate                   Value    

Beginning Inventory     7,400    $11.00                 $81,400

Purchases                     3,100     $12.00                $37,200

Purchases                     12,200   $12.50               $152,500

Total  Inventory            22,700   $11.94273128    $271,100

Sale                               12,700    $11.94273128    $151,673

Cost of Goods Sold = $271,100 x 12,700 / 22,700 = $151,673

Mila is helping to set performance targets for her company, Urban Supply. The target of increasing the company's online customer satisfaction rate by 1% in the next quarter is an example of a performance target focused on the customer perspective of the balance scorecard.a. true
b. false

Answers

Answer: True

Explanation:

The balanced scorecard perspective implies that the company has to satisfy their customer through the provision of quality products and services.

From the question, the target of increasing customers satisfaction is a good example of a performance target that is focused on customer's perspective of the balance scorecard. This means that the statement is true.

The cost structure of two firms competing in the same industry is represented by the following cost formulas: Company X = $2,276,000 + $50/ unit; Company Z = $1,052,000 + $98/unit. The selling price is $145 per unit for both companies. Required: 1. Calculate the indifference point between the two cost structures, that is, the amount of unit sales that produce exactly the same operating income for Company X and Company Z.

Answers

Answer:

Indifference point= 25,500

Explanation:

Giving the following information:

Company X = $2,276,000 + $50/ unit

Company Z = $1,052,000 + $98/unit

We need to find the indifference point where the two companies provide the same total cost.

We need to equal both cost equations:

2,276,000 + 50x = 1,052,000 + 98x

1,224,000 = 48x

25,500= x

x= number of units

To prove:

Company X = $2,276,000 + $50*25,500= $3,551,000

Company Z = $1,052,000 + $98*25,500= $3,551,000

You are evaluating two different silicon wafer milling machines. The Techron I costs $234,000, has a three-year life, and has pretax operating costs of $61,000 per year. The Techron II costs $410,000, has a five-year life, and has pretax operating costs of $34,000 per year. For both milling machines, use straight-line depreciation to zero over the projectâs life and assume a salvage value of $38,000. If your tax rate is 35 percent and your discount rate is 10 percent. Required:
Compute the EAC for both machines.

Answers

T-1:

Table-1 vide annex

Applying EAC formula

c = \frac{r(NPV)}{(1-(1+r)^{-n} )}

c = (r(NPV))/((1-(1+r)^(-n) ))

c: equivalent annuity cash flow

NPV: Net present value

r: rate per period

n: number of periods

we have

c = (0.1*(-246155.15))/((1-(1+0.1)^(-3) ))

c = $ - 98 982,63

T-2

Table-2 vide annex

Applying EAC formula

c = \frac{r(NPV)}{(1-(1+r)^{-n} )}

c = (r(NPV))/((1-(1+r)^(-n) ))

c: equivalent annuity cash flow

NPV: Net present value

r: rate per period

n: number of periods

we have

c = (0.1*(-369644.05))/((1-(1+0.01)^(-5) ))

c = - $ 97 511.17

A produce distributor uses 773 packing crates a month, which it purchases at a cost of $11 each. The manager has assigned an annual carrying cost of 33 percent of the purchase price per crate. Ordering costs are $28. Currently the manager orders once a month. How much could the firm save annually in ordering and carrying costs by using the EOQ?

Answers

\sqrt(2*773*28)/(33)Answer:

Explanation:

Using the EOQ Formula =  EOQ\sqrt(2*D*O)/(H)

D = Demand = 773

O = Ordering Cost =28

H = holding Cost = 11*33% =3.63

So we have :

EOQ=\sqrt(2*D*O)/(H)

EOQ= \sqrt(2*773*28)/(3.63)

EOQ=\sqrt(43288\n)/(3.63)

EOQ= √(11925.06887)

EOQ= 109.20196

   

Previous per unit order cost = 28/773 =0.03622

No of Orders = D/o  

No of Orders = 773/109.20196 =7.0786

Cost per order =109.20196*0.03622 =3.9555

Total order cost= 7.0786*3.9555=27.9998

At EOQ holding Cost is equal to Order Cost

New Order cost =27.9998

Holding Cost = 27.9998

New cost As per EOQ = 56

Previous (33+28)  =  61

Net Saving = 5