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# Paschals Parasailing Enterprises has estimated t

### Resolved Question:

 2. (TCO 4) Paschal’s Parasailing Enterprises has estimated that fixed costs per month are \$115,600 and variable cost per dollar of sales is \$0.38. (a) What is the break-even point per month in sales? (b) What level of sales is needed for a monthly profit of \$67,000? (c) For the month of August, Paschal’s anticipates sales of \$585,000. What is the expected level of profit? (Points : 6)

 3. (TCO 6) Princess Cruise Lines has the following service departments; concierge, valet, and maintenance. Expense for these departments are allocated to Mediterranean and Trans-Atlantic cruises. Expenses for the departments are totaled (both variable and fixed components are combined) and as follows: Concierge \$2,500,000Valet \$1,750,000Maintenance \$4,250,000 The sea miles logged are 6,000,000 for the Mediterranean and 18,000,000 for the Trans-Atlantic voyages. Based upon the sea miles logged, allocate the service department costs. (Points : 6)

 4. (TCO 9) Thurman Munster, the owner of Adams Family RVs, is considering the addition of a service center his lot. The building and equipment are estimated to cost \$1,100,000 and both the building and equipment will be depreciated over 10 years using the straight-line method. The building and equipment have zero estimated residual value at the end of 10 years. Munster’s required rate of return for this project is 12 percent. Net income related to each year of the investment is as follows: Revenue \$450,000Less: Material cost \$ 60,000 Labor 100,000 Depreciation 110,000 Other 10,000 280,000Income before taxes 170,000Taxes at 40% 68,000Net income \$102,000 (a) Determine the net present value of the investment in the service center. Should Munster invest in the service center?(b) Calculate the internal rate of return of the investment to the nearest ½ percent.(c) Calculate the payback period of the investment.(d) Calculate the accounting rate of return. (Points : 8)

 5. (TCO 5) The following information relates to Vice Versa Ventures for calendar year 20XX, the company’s first year of operations: Units produced 20,000Units sold 17,000Selling price per unit \$35Direct material per unit \$5Direct labor per unit \$5Variable manufacturing overhead per unit \$2Variable selling cost per unit \$3Annual fixed manufacturing overhead \$160,000Annual fixed selling and administrative expense \$80,000 (a) Prepare an income statement using full costing.(b) Prepare an income statement using variable costing. (Points : 8)

Submitted: 3 years ago.
Category: Homework
Expert:  Bizhelp replied 3 years ago.

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Bizhelp, CPA
Category: Homework
Satisfied Customers: 5882
Experience: Bachelors Degree and CPA with Accounting work experience

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