Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. wave runners is a boat rental business that has th

Wave Runners is a boat rental business that has the following costs over the relevant...

50.1K

Verified Solution

Question

Accounting

Wave Runners is a boat rental business that has the following costs over the relevant range of 18,000 to 24,000 operating hours for its boats:

Required:

1. Complete the schedule of the companys total and unit costs. (Round "Cost per unit" answers to 2 decimal places.)

Operating Hours
18,000 20,000 22,000 24,000
Total costs:
Variable costs $61,200
Fixed costs 277,200
Total costs $338,400 $0 $0 $0
Cost per unit:
Variable cost
Fixed cost
Total cost per hour $0.00 $0.00 $0.00

$0.00

2. Assume that Wave Runners rents it boats for $17 per hour and had 21,000 hours of rentals last year. Prepare a contribution format income statement for the year.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students