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Sheffield's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the...

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Accounting

Sheffield's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. Anticipated annual volume is 1,280 sessions. The company has invested $2,359,040 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows.
\table[[,\table[[Per],[Session]],Total],[Direct materials (CDs, etc.),$20,],[Direct labor,$405,],[Variable overhead,$50,],[Fixed overhead,,$1,216,000
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