Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:

Fixed Cost Per Month Cost Per Car Washed
Cleaning Supplies $0.80
Electricity $1200 $0.15
Maintenance $0.20
Wages and Salaries $5000 $0.30
Depreciation $6000
Rent $8000
Administrative Expenses $4000 $0.10

For example, electricity costs are $1,200 per month plus $0.08 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.30 per car washed. The actual operating results for August are as follows:

Lavage Rapide Income Statement For the Month Ended August 31
Actual cars washed 8,500
Revenue $ 55,020
Expenses:
Cleaning supplies 5,540
Electricity 1,842
Maintenance 2,760
Wages and salaries 6,980
Depreciation 8,400
Rent 2,000
Administrative expenses 1,368
Total expense 28,890
Net operating income $ 26,130

Prepare the flexible budget performance report that shows the company’s activity variances and revenue and spending variances for August.

An investment counselor calls with a hot stock tip. he believes that if the economy remains strong, the investment will result in a profit of $40 comma 00040,000. if the economy grows at a moderate pace, the investment will result in a profit of $10 comma 00010,000. however, if the economy goes into recession, the investment will result in a loss of $40 comma 00040,000. you contact an economist who believes there is a 2020% probability the economy will remain strong, a 7070% probability the economy will grow at a moderate pace, and a 1010% probability the economy will slip into recession. what is the expected profit from this investment?

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

The relationship requirement for qualifying relative requires the potential qualifying relative to have a family relationship with the taxpayer. t or fwhich of the following is not a from agi deduction? a.standard deductionb.itemized deductionc.personal exemptiond.none of these. all of these are from agi deductions