TB MC Qu. 3-49 (Algo) Gardner Corporation manufactures skateboards...Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget. The pro forma income statement for the current year ispresented below.SalesCost of Sales:Direct MaterialDirect LaborVariable OverheadFixed OverheadGross ProfitSelling and G&A:VariableFixedOperating Incomeere to search$ 310,000210,00084,000160,000Multiple Choice$ 260,000310,000O$ 1,920,000For the coming year, the management of Gardner Corporation anticipates a 10 percent increase in sales, a 12 percent increase in variable costs, and a $51,000increase in fixed costs.764,000$ 1,156,000The break-even point for next year (rounded to the nearest dollar) would be:Note: Do not round intermediate calculations.570,000$ 586,000< Prev6 of 25ONext >37°F Cloudy @ L^1-

The break even sales are calculated as the sales revenue where no profit or loss is incurred. The…

MC Qu. 3-49 (Algo) Gardner Corporation manufactures skateboards... Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below. Sales Cost of Sales: Direct Material Direct Labor Variable Overhead Fixed Overhead $ 310,000 210,000 84,000 160,000 $ 1,920,000 $ 260,000 310,000 764,000 $1,156,000 Gross Profit Selling and G&A: Variable Fixed 570,000 $ 586,000 Operating Income For the coming year, the management of Gardner Corporation anticipates a 10 percent increase in sales, a 12 percent increase in variable costs, and a $51,000

MC Qu. 3-49 (Algo) Gardner Corporation manufactures skateboards... Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below. Sales Cost of Sales: Direct Material Direct Labor Variable Overhead Fixed Overhead $ 310,000 210,000 84,000 160,000 $ 1,920,000 $ 260,000 310,000 764,000 $1,156,000 Gross Profit Selling and G&A: Variable Fixed 570,000 $ 586,000 Operating Income For the coming year, the management of Gardner Corporation anticipates a 10 percent increase in sales, a 12 percent increase in variable costs, and a $51,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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P23-1A Prepare flexible budget and budget report for manufacturing overhead Bumblebee Company estimates that 300,000 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the budgeted manufacturing overhead cost data, shown below, are computed for the year. Fixed Overhead Costs Variable Overhead Costs Supervision $96,000 Indirect labor $126,000 Depreciation 72,000 Indirect materials 90,000 Insurance 30,000 Repairs 69,000 Rent 24,000 Utilities 72,000 Property taxes 18,000 Lubricants 18,000 $240,000 $375,000 It is estimated that direct labor hours worked each month will range from 27,000 to 36,000 hours. During October 27,000…
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08-18 at 11.37.45 AM_LI.jpg & Edit & Create QUESTION 2 Steve Richardson, management accountant at Jupiter Ltd, is examining the behaviour of quarterly maintenance costs for budgeting purposes. Steve collects the following data on machine-hours worked and maintenance costs for the past eight quarters: Save Answer Quarter Machine-hours Maintenance costs 1,200 $2,150 12. 750 1,500 3. 1,100 2,000 14 1,500 2,700 15 900 1,450 1,490 2,800 16 2,250 7 1,300 1,950 1,000 Required: Close Window a. Estimate the cost function for the quarterly data using the high-low method, Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers. DELL 11:46 AM 30°C AQI 23 A A 90) 8/18/2021 pe here to search
1. wHAT IS THE CASH PAYMENTS IN QUARTER 3 2. HOW MUCH IS THE TOTAL MANUFACTURING OVERHEAD BUDGET 2023?
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Answer all the parts otherwise don't solve it. Accounting This is the budget for the year ended 30 April 2021 for company XTZ Total production & sales = 2400units Selling price per unit = $1200 Variable manufacturing costs : Direct labour = $192 ; Direct material = $288 ; Overheads = $96 Fixed manufacture overheads = $216,960 Other : Fixed marketing & admin cost = $144,000 Sales commission = 5% 4) If the company earns a net profit of $298,920 ; How many units were sold 5) If expected sales volume is 2400units, what is the sales price per unit which will allow the company to break even?
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TB MC Qu. 18-47 (Algo) Full costing operating income for the next year: Smooth Incorporated Smooth Incorporated manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2021 and 2022 was 5,000 units. There was no beginning inventory in 2021. The following data summarized the 2021 and 2022 operations: Units sold Units produced Costs: Variable factory overhead per unit Fixed factory overhead Variable marketing per unit Fixed Selling and Administrative 2021 3,500 5,000 $ 0.65 $2,250 $ 0.75 $ 650 2022 5,200 5,000 $ 0.65 $2,250 $ 0.80 $ 650 Full costing operating income for 2022 is calculated to be: (Do not round intermediate calculations. Round your final answers to whole dollar amounts.)
ost Centers Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Plant Eastern Region Central Region Western Region Department Cost Chip Fabrication Electronic Assembly Final Assembly Budget Performance Report-Vice President, Production For the Month Ended June 30 a. $ Factory wages Materials Power and light Maintenance b. $ c. $ d. $ e. $ f. $ Actual $390,100 278,100 (g) $(j) Delmar Company Actual $(a) 87,290 137,620 $(d) Budget $390,100 280,900 Actual Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 $29,190 73,790 5,320 6,920 (h) $(k) $115,220 $ (b) 86,170 138,730 $(e) Over Budget Budget $(c) 1,120 Over Budget Budget (1) $(1) g. $ h. $ j. $ k. $ 1. $ Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 (Under) Budget $(f) $0 (2,800) $27,280 74,310 4,470 850 6,320 600 $112,380 $3,360 $(520) a. Complete the budget performance reports…
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A 297.