Rivero Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes.??Fixed Element per MonthVariable Element per Container Refurbished?Revenue?$5,700?Employee salaries and wages$48,300$900?Refurbishing materials?$700?Other expenses$36,300?When the company prepared its planning budget at the beginning of September, it assumed that 22 containers would have been refurbished.Required:Prepare the company's planning budget for September.
What will be an ideal response?
| ? | ? | Planning Budget |
| ? | Containers refurbished (q) | 22 |
| ? | Revenue ($5,700q) | $125,400 |
| ? | Expenses: | ? |
| ? | Employee salaries and wages ($48,300 + $900q) | 68,100 |
| ? | Refurbishing materials ($700q) | 15,400 |
| ? | Other expenses ($36,300) | 36,300 |
| ? | Total expenses | 119,800 |
| ? | Net operating income | $5,600 |
You might also like to view...
The Consumer Credit Protection Act requires that a finance charge be stated as an annual percentage rate and that creditors specify their procedures for correcting billing mistakes.
Answer the following statement true (T) or false (F)
A company exchanged its used machine for a new machine in a transaction that had commercial substance. The old machine cost $68,000, and the new one had a cash price of $95,000. The company had taken $59,000 depreciation on the old machine and was allowed a $2,500 trade-in allowance and the balance of $92,500 was paid in cash. What gain or loss should be recorded on the exchange?
What will be an ideal response?
Which of the following is not part of a service package?
A- the goods that are a part of the service B- the explicit services C- the employee performing the service D- the implicit services E- the physical resources needed
An LLC that was organized in Alabama and is operating in Texas with no operations outside the United States is considered a ________ in Texas.
A. foreign limited liability company B. limited liability partnership C. domestic limited liability company D. general partnership