DeGraaf________________ 15 points Menu item |Number sold |Standard/budgeted portion cost | |A |580 |$4.45 | |B |285 |$6.20 | |C |600 |$4.15 | |D |200 |$6.00 | |E |475 |$5.95 | |F |320 |$7.05 | |G |545 |$6.10 | |H |200 |$6.95 | |Totals |3‚205 | | | | | | |Solve all problems for 2 decimal places (x.xx) | | | |Food sales |$57‚680.30 | | | | | | |1. Food cost $ based on standard cost figures |$17834.75 |(1 pt) | | | | | |2. Food cost % based on standard cost figures |30.92% |(1 pt) | | | | | |3. Contribution margin $ |$39845
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References: Kieso‚ D. E.‚ Weygandt‚ J. J.‚ & Warfield‚ T. D. (2010). Intermediate accounting (13th ed.) Hoboken‚ NJ: John Wiley & Sons.
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the variety store. b. What is the accounting profit of the variety store? c. What is the economic profit? d. In what way is economic profit superior to accounting profit as an indicator of the overall performance of this business? Given the advantages of economic profit as a performance indictor‚ explain why the concept of economic profit is not often used in accounting. e. Should Rodriguez consider closing down this business? Why? Answers A) Explicit Costs = rent 25000 +
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ECO 550 WEEK 6 CHAPTER 11 AND CHAPTER 12 PROBLEMS download here Chapter 11 2. Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one large firm Tile King. Ajax produces a multi-headed tunnel wall scrubber that is similar to a model produced by Tile King. Ajax decides to charge the same price as Tile King to avoid the possibility of a price war. The price charged by Tile King is $20‚000. Ajax has the following short-run cost curve: ‚000 - 5‚000Q + 100Q2. A. Computer
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Sridhar is concerned about his company’s cash problem. From the following balance sheets and summary income statement‚ prepare a cash flow statement for the year ended December 31‚ 2009. BALANCE SHEETS at December 31‚ 2008 and 2009 2009 2008 Rs. Rs Rs. Rs. Equity Share capital 60‚000 50‚000 Retained earnings 96‚000 60‚000 Total equity 156‚000 110‚000 Non-current liabilities Mortgage loan 35‚000 40‚000 Current
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Chapter 12 Supplement MAT 126 Survey of Mathematical Methods Gary West July 4‚ 2011 One of the most important things a buyer must do before making a purchase is to review any and all of the statistical research on a product. According to Bluman (2005)‚ Statistical research is used to provide knowledge and information in order to enable us to make intelligent decisions about our health and welfare” (p.680). Although this information is very important to us‚ we must also be skeptical of the
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CHAPTER 2 * Overview of Business Processes SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 2.1 Table 2-1 lists some of the documents used in the revenue‚ expenditure‚ and human resources cycle. What kinds of input or output documents or forms would you find in the production (or conversion) cycle? Students will not know the names of the documents but they should be able to identify the tasks about which information needs to be gathered. Here are some of those tasks:
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CHAPTER 1 The Changing Role of Managerial Accounting in a Dynamic Business Environment ANSWERS to Review Questions 1-1 The explosion in e-commerce will affect managerial accounting in significant ways. One effect will be a drastic reduction in paper work. Millions of transactions between businesses will be conducted electronically with no hard-copy documentation. Along with this method of communicating for business transactions comes the very significant issue of information security. Businesses
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1. What was Macon’s Bill No.2 and how did it lead to the War of 1812? Macon’s Bill No. 2 replaced the Non-Intercourse Act in 1810. This Bill was issued by Congress. It reopened American trade with the entire world. Also it promised American restoration of trade to France and/or England if either dropped their commercial restrictions. Macon’s Bill dangled what congress hoped was an attractive lure. Napoleon had his opportunity: in August of 1810‚ he announced that French commercial restrictions
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Question 1 1.1 out of 1.1 points Everything else equal‚ significant trade deficits‚ imports exceeding exports‚ should have what effect on a country’s exchange rate? Selected Answer: C. The country’s currency should depreciate in value relative to their major trading countries. Question 2 1.1 out of 1.1 points Which instrument is issued by a bank? Selected Answer: Letter of credit Question 3 0 out of 1.1 points Common causes of
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