Fluid Ltd manufactures drink bottles. Over the past 12 months, their highest monthly output was during September where they produced 20,000 drink bottles at a total production cost of $150,000. Their lowest monthly output was in May where they produced just 12,000 drink bottles at a total production cost of $110,000. Using the high-low method, the variable and fixed costs would be?

A local florist sells bouquets of flowers. The variable costs associated with each bouquet (flowers, paper, twine etc.) total $8 and the selling price per bouquet is $24. What is the contribution margin per unit for each bouquet?

A local gelato store sells single-serve tubs of gelato. The variable costs associated with each tub (fruit, packaging, spoon etc.) total $1.80 and the selling price per tub is $4.50. The fixed costs per week are $1350. How many tubs of gelato must the store sell per week in order to generate $675 in profit?

Marjak legal services is a medium-sized family law firm established by Marissa in 2010.

Marissa Jakes is the most senior member of the family and estimates that she will bill clients for 40 hours per week and have 2 weeks annual leave in March. Bose Jakes is Marissa's daughter and intends to take 4 weeks leave in June and to bill clients for 38 hours per week. Marissa's granddaughter, Lola, is new to the firm and enjoys hanging out with friends on Friday and so usually bills clients for only 36 hours per week. Lola intends to take 2 weeks leave beginning in July.

The charge-out rates per hour for each of the Jakes' are as follows.

Marissa$375 per hour

Bose$285 per hour

Lola$185 per hour

What is the total service revenue budget for Marissa for the year ending 30 June 2021?

$750,000

$950,000

$165,000

$755,000

Kelly Co sells calculators. All sales are made on credit terms. 60% of customers pay in the same month that the sale is made, 30% of customers pay one month following the month of sale and the remaining 10% of customers pay two months following the month of sale. The expected sales for July are $500,000, August $300,000 and September $400,000. The expected cash to be collected from customers in the month of September is:

An organisation that manufactures and sells brass bells is preparing a production budget to determine how many bells they will need to produce in the quarter from 1 October to 31 December. They expect to sell 16,000 bells during the quarter and plan to have a closing inventory of 3000 bells. At the beginning of the quarter, they only have 500 bells in inventory. The number of bells that the organisation is required to produce in the quarter is:

Marjak legal services is a medium-sized family law firm established by Marissa in 2010.

Marissa Jakes is the most senior member of the family and estimates that she will bill clients for 40 hours per week and have 2 weeks annual leave in March. Bose Jakes is Marissa's daughter and intends to take 4 weeks leave in June and to bill clients for 38 hours per week. Marissa's granddaughter, Lola, is new to the firm and enjoys hanging out with friends on Friday and so usually bills clients for only 36 hours per week. Lola intends to take 2 weeks leave beginning in July.

The charge-out rates per hour for each of the Jakes' are as follows.

Marissa$375 per hour

Bose$285 per hour

Lola$185 per hour

What is the total service revenue budget for Lola for the year ending 30 June 2021?

Which of the following options are correct with respect to flexing a budget?

Flexing implies revising a budget using assumptions that are based on different volume or level of activities.

Flexing a budget enables a manager to make more comparative decision based on the flexed results.

Flexing a budget can help managers overcome the limitations of a static budget.

Options II and III only.

Options I and II only.

Options I and III only.

Options I, II and III only.

Marjak legal services is a medium-sized family law firm established by Marissa in 2010.

Marissa Jakes is the most senior member of the family and estimates that she will bill clients for 40 hours per week and have 2 weeks annual leave in March. Bose Jakes is Marissa's daughter and intends to take 4 weeks leave in June and to bill clients for 38 hours per week. Marissa's granddaughter, Lola, is new to the firm and enjoys hanging out with friends on Friday and so usually bills clients for only 36 hours per week. Lola intends to take 2 weeks leave beginning in July.The charge-out rates per hour for each of the Jakes' are as follows.

Marissa$375 per hour

Bose$285 per hour

Lola$185 per hour

What is the total service revenue budget for Bose for the year ending 30 June 2021?

$519,840

$140,790

$455,140

$529,790