Jim Jones, the owner of Jim’s Place, want to analyze labor cost
in his restaurant operations...
Jim Jones, the owner of Jim’s Place, want to analyze labor cost
in his restaurant operations and has asked you for assistance. The
operating statistics for the previous year are as follow:
Number of Customers
Labor Cost
January
4,000
24,000
February
3,500
22,700
March
3,200
22,000
April
2,500
19,700
May
2,300
19,500
June
4,000
24,000
July
4,500
24,500
August
4,800
25,700
September
3,000
21,500
October
3,500
22,700
November
3,700
23,500
December
4,000
24,000
Please use the high/low two-point method to...
Only a Game Inc.
Cash Budgeting
This really is great! We’ve only been producing the “Sticky...
Only a Game Inc.
Cash Budgeting
This really is great! We’ve only been producing the “Sticky
Fingers” for six months and look at the profits. Sales projections
for the future go nowhere but up, up, up! I’m going to take my
family on a well-deserved vacation. They’ve put up with a lot; I
haven’t been home much at all getting this started. We need some
quality time together. All this hectic activity has left me mighty
tired, so a break...
Developing a Master Budget for a Merchandising
Organization
Assume Nordstrom prepares budgets quarterly. The following
information...
Developing a Master Budget for a Merchandising
Organization
Assume Nordstrom prepares budgets quarterly. The following
information is available for use in planning the second quarter
budgets for one of its stores (in thousands).
NORDSTROM
Balance Sheet
March 31
Assets
Liabilities and Stockholders' Equity
Cash
$ 2,525
Merchandise purchases payable
$2,400
Accounts receivable
2,040
Dividends payable
710
Inventory
3,400
Stockholders' equity
8,005
Prepaid Insurance
150
Fixtures
3,000
Total assets
$11,115
Total liabilities and equity
$11,115
Actual and forecasted sales for selected...
Developing a Master Budget for a Merchandising
Organization
Assume Nordstrom prepares budgets quarterly. The following
information...
Developing a Master Budget for a Merchandising
Organization
Assume Nordstrom prepares budgets quarterly. The following
information is available for use in planning the second quarter
budgets for one of its stores (in thousands).
NORDSTROM
Balance Sheet
March 31
Assets
Liabilities and Stockholders' Equity
Cash
$ 2,525
Merchandise purchases payable
$2,400
Accounts receivable
2,040
Dividends payable
710
Inventory
3,400
Stockholders' equity
8,005
Prepaid Insurance
150
Fixtures
3,000
Total assets
$11,115
Total liabilities and equity
$11,115
Actual and forecasted sales for selected...
The 2013
balance sheet of the Captain Jet Inc. is attached. During 2014, the
following events...
The 2013
balance sheet of the Captain Jet Inc. is attached. During 2014, the
following events occurred.
1. On January 10,
sell merchandise on account to Rayms $9,600 and Fischer $8,800.
Terms 2/10, n/30. Freight $100 for each sale, F.O.B. shipping
point.
2. On January 12,
purchase merchandise on account from Zapfel $3,000 and Liotta
$2,400. Terms 1/10, n/30. Freight $120 for each sale, F.O.B.
destination.
3. Receive checks,
$4,000 from Longhini and $2,000 from Hall, for sales on
account...
Bryan followed in his father’s footsteps and entered into the
carpet business. He owns and operates...
Bryan followed in his father’s footsteps and entered into the
carpet business. He owns and operates I Do Carpet (IDC). Bryan
prefers to install carpet only, but in order to earn additional
revenue, he also cleans carpets and sells carpet-cleaning
supplies.
A. IDC contracted with a homebuilder in December of last year to
install carpet in 10 new homes being built. The contract price of
$87,500 includes $53,000 for materials (carpet). The remaining
$34,500 is for IDC’s service of installing...