Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information E5-13, E5-14 and E5-16 [LO 5-2,5-3,5-4,5-5) Camp Rainbow offers overnight summer camp programs for children ages 10-11 every summer during June and July.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information E5-13, E5-14 and E5-16 [LO 5-2,5-3,5-4,5-5) Camp Rainbow offers overnight summer camp programs for children ages 10-11 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer Cost to Run Camp Week 1 2 3 4 5 6 Number of Campers 190 100 176 90 164 106 122 160 $14,820 8,170 14,000 8,720 11,590 8,650 9,120 12,570 Intercept X Variable 1 Coefficients 2,134.67 63.52 Suppose that Rainbow is contemplating staying open one additional week during the summer. Required: 1. Using the results of the least squares regression analysis, determine Rainbow's contribution margin per camper if each campes pays $165 to attend the camp for a week. 2. Using the results of the least-squares regression analysis, prepare a contribution margin income statement for week 9 assuming Rainbow expects to have 148 campers that week, 3. Should Rainbow add a ninth week to its schedule? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $165 to attend the camp for a week (Round your unit contribution margin and contribution margin percentage ratio to two decimal places (le 0:1234 should be entered as 12.34%) per camper Unit Contribution Margin Contribution Margin Ratio Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the results of the least squares regression analysis, prepare a contribution margin Income statement for week 9 assuming Rainbow expects to have 148 campers that week. (Round your intermediate calculations and final answers to 2 decimal places.) CAMP RAINBOW Contribution Margin Income Statement For Possible 9th Week Cost of Goods Sold Fixed Costs Gross Margin Interest Expense Net Operating Income Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the results of the least-squares regression analysis, prepare a contribution margin income statement for week 9 assuming Rainbow expects to have 148 campers that week. (Round your intermediate calculations and final answers to 2 decimal places.) CAMP RAINBOW Contribution Margin Income Statement For Possible 9th Week Contribution Margin Net Operating Income DI TO U ureCamp To Week 2. Using the results of the least squares regression analysis, prepare a contribution margin Income statement for week 9 assuming Rainbow expects to have 148 campers that week. 3. Should Rainbow add a ninth week to its schedule? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Should Rainbow add a ninth week to its schedule? Should Rainbow add a ninth week to its schedule?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John Wild, Ken Shaw, Barbara Chiappett

23rd edition

1259536351, 978-1259536359

Students also viewed these Accounting questions

Question

Explain the Pascals Law ?

Answered: 1 week ago

Question

What are the objectives of performance appraisal ?

Answered: 1 week ago

Question

State the uses of job description.

Answered: 1 week ago