Please help answer the Income statement. Use the data at the top of the schedule to complete the report. use the data from your cost of services provided schedule. The cost to use is:Daycare $18 - 22 dogs per dayBoarding $25 - 12 dogs per dayGrooming $25 - 4 grooms per day K-9 Grooming & CampMILESTONE 3 - Income StatementINSTRUCTIONS:Complete the Statement in proper formRevenue will be provided in an Announcement at the end of Module 4(based on actual number of services for your pricing levels)Additional Information necessary to complete the Income Statement:General & Administrative Salaries paid = $1,200Advertising = $100Cleaning Products = $120Depreciation = $83Rent = $650Loan = $420Utilities & Insurance = $600K-9 Grooming & CampIncome StatementFor the Month Ended January 31, xXXXRevenue:GroomingDay CareBoardingTota RevenueCost of Services *Gross ProfitExpenses:G&A SalariesAdvertisingCleaning ProductsDepreciationRentLoanUtilities and InsuranceTotal ExpensesNet Income / Loss* Cost of Goods Sold = Cost of ServicesThere is no finished goods inventory to maintain.I K-9 Grooming & CampMILESTONE 3 - Statement of Cost of ServicesINSTRUCTIONS:The following are the actual numbers for January:MaterialsPurchased $5,000 of MaterialsConsumed 40% of those purchased materialsDirect LaborDirect Labor was $6,240OverheadOverhead was $2,800K-9 Grooming & CampStatement of Cost of ServicesFor the Month Ended January 31, xxxxBeginning Work in Process InventoryDirect Materials:Materials - BeginningAdd: Purchases for month of January5,000Materials Available for Use5,000Deduct: Ending Materials3,000Materials Used2,000Direct Labor6,2402,800OverheadTotal Service Costs11,040Deduct: Ending Work in Process InventoryCost of Services$11,040* Cost of Goods Sold = Cost of ServicesThere is no finished goods inventory to maintain.

K-9 Grooming & Camp Statement of Cost of Services For the month ended January 31, xxxx…

K-9 Grooming & Camp MILESTONE 3 - Income Statement INSTRUCTIONS: Complete the Statement in proper form Revenue will be provided in an Announcement at the end of Module 4 (based on actual number of services for your pricing levels) Additional Information necessary to complete the Income Statement: General & Administrative Salaries paid = $1,200 Advertising = $100 Cleaning Products = $120 Depreciation = $83 Rent = $650 Loan = $420 Utilities & Insurance = $600

K-9 Grooming & Camp MILESTONE 3 - Income Statement INSTRUCTIONS: Complete the Statement in proper form Revenue will be provided in an Announcement at the end of Module 4 (based on actual number of services for your pricing levels) Additional Information necessary to complete the Income Statement: General & Administrative Salaries paid = $1,200 Advertising = $100 Cleaning Products = $120 Depreciation = $83 Rent = $650 Loan = $420 Utilities & Insurance = $600

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter27: Lean Manufacturing And Activity Analysis

Section: Chapter Questions

Problem 18E: Cost of quality and value-added/non-value-added reports for a service company A. Using the...

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Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per unit: Manufacturing: Direct materials 14 Direct labor 3 Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative 1 2$ 1 $330,000 $240,000 During the year, the company produced 33,000 units and sold 24,000 units. The selling price of the company's product is $44 per unit. Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cot. b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit product cost. b. Prepare an income statement for the year.
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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Robinson Products Company has two service departments (S1 and S2) and two production departments (P1 and P2). The distribution of each service department’s efforts (in percentages) to the other departments is: From To S1 S2 P1 P2 S1 — 10% 20% ?% S2 10% — ? 30 The direct operating costs of the departments (including both variable and fixed costs) are: S1 $ 180,000 S2 60,000 P1 50,000 P2 120,000 Required: 1. Determine the total cost of P1 and P2 using the direct method. 2. Determine the total cost of P1 and P2 using the step method. 3. Determine the total cost of P1 and P2 using the reciprocal method.
Cost of quality and value-added/non-value-added reports for a service company A. Using the information in Exercise 17, identify the cost of quality classification for each activity and whether the activity is value-added or non-value-added. B. Prepare a cost of quality report. Assume that sales are 3,000,000. (Round percentages to one decimal place.) C. Prepare a value-added/non-value-added analysis. D. Interpret the information in (B) and (C).
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