Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,500 units.   PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,255,000 Costs   Direct materials 1,007,500 Direct labor 232,500 Sales staff commissions 77,500 Depreciation—Machinery 300,000 Supervisory salaries 199,000 Shipping 217,000 Sales staff salaries (fixed annual amount) 251,000 Administrative salaries 611,750 Depreciation—Office equipment 196,000 Income $ 162,750       Required: 1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. 3. The company’s business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold.

The following information is available for Pioneer Company: Sales price per unit is $100. . November and December sales were budgeted at 3,060 and 3,420 units, respectively. Variable costs are 11 percent of sales (6 percent commission, 2 percent advertising, 3 percent shipping). Fixed costs per month are sales salaries, $5,700; office salaries, $2,900; depreciation, $2,600; building rent, $3,000; insurance, $1,500; and utilities, $700. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. Total Budgeted Selling and Administrative Expenses November December

Flores Company budgeted total variable costs at P250,000 for the current year. In addition, they budgeted costs for (a) factory rent at P325,000; (b) depreciation of office equipment at P20,000; (c) office rent at P140,000; and (d) depreciation of factory equipment at P60,000. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of P650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period?

Crane Corporation's master budget for the year is shown below: Sales (60,700 units) Cost of goods sold: Direct materials Direct labor Overhead (variable overhead applied at 45% of direct labor cost) Gross profit Selling expenses: Sales commissions (all variable) Rent (all fixed) Insurance (all short-term fixed) General expenses: Salaries (all short-term fixed) Rent (all short-term fixed) Depreciation (all short-term fixed) Operating income $ 212,450 497,740 247,000 Required 1 $ 160,248 47,000 37,000 Required 2 95,500 80,500 57,000 $ 2,306,600 957,190 $ 1,349,410 Required: 1. During the year, the company manufactured and sold 55,700 units of product. Prepare a flexible budget for this level of output. 2. Now suppose that the actual level of output was 65,700 units. Prepare a flexible budget for this output level. 477, 248 $ 872,162 Complete this question by entering your answers in the tabs below. During the year, the company manufactured and sold 55,700 units of product. Prepare a…

Compute the dollar amount of Direct Material "A" to be used in production during the year, given the following info: Budgeted Sales for the year = 640,000 units Estimated Beg. Inventory = 108,000 units Desired End. Inventory = 90,000 units The Quantities of Direct Materials expected to be used for each Unit of finished product are as follows: Material A = 0.5 lb. per unit @ $0.60 per lb. Material B 1.0 lb. per unit @ $1.70 per lb. Material C= 1.2 lb. per unit @ $1.00 per lb. O $186,600.00 $210,600.00 O$181,200.00 $240,000.00

Starts Inc. using production levels of 62,000, 67,200, and 69,300 units produced. The following additional information is necessary to complete the budget.  Prepare a flexible production budget for the year ending December 31 for :Variable costs:             Direct labor ($18.00 per unit)   Direct materials ($5.00 per unit)   Variable manufacturing costs ($8.00 per unit) ​ Fixed costs:   Supervisor’s salaries $27,000   Rent 18,000   Depreciation on equipment 82,000

Sunland Company has accumulated the following budget data for the year 2022: 1. 2. 3. 4. 5. 6. Sales: 29,200 units; unit selling price $82 Cost of one unit of finished goods: direct materials, 2 kg at $5 per kilogram; direct labour, 3 hours at $13 per hour; and manufacturing overhead, $5 per direct labour hour Inventories (raw materials only): beginning, 9,900 kg; ending, 15,700 kg Raw materials cost: $5 per kilogram Selling and administrative expenses: $219,000 Income taxes: 30% of income before income taxes Prepare a schedule showing the calculation of the cost of goods sold for 2022. SUNLAND COMPANY Computation of Cost of Goods Sold For the Year Ending December 31, 2022 Cost of goods sold Manufacturing overhead Beginning inventory Direct materials Ending inventory Number of units sold Selling and administrative expenses Direct labour Cost of one unit of finished goods eTextbook and Media $ $ $

Waterway Industries has the following budgeted costs for the next year:     Time Charges   Material Charges Shop employees’ wages and benefits   $120000     $            -   Parts manager’s salary and benefits   -     50000   Office employee’s salary and benefits   45000     15000   Other overhead   15000     40000   Invoice cost of parts and materials   -     454000         Total budgeted costs   $180000     $559000   Next year’s material loading charge, assuming a 30% markup on material cost is 48.78%. 53.00%. 30.00%. 18.78%.      do not give solution in image

Gary Ltd. manufactures a product for which the budgeted capacity is 392,000 units per month. The following data is available for August 2019:   Details                          Units Sales                       320,000 Opening stock                         60,000 Closing stock                       160,000 Production                       420,000   Cost Data   Details $ Direct materials 55 Direct labour 22 Variable Production Overheads 41   Fixed administrative overheads were estimated at $ 600,000 while fixed selling overheads were estimated at $840,000. During the periods, the selling price per unit was $180 and Total Fixed Production Overheads were $5,880,000.  Required: (a)   Show the profit situation using Marginal costing principles                          (b)  Show the profit situation using Absorption costing principles

Wharton Company has the capacity to produce 50,000 units per year. The company sells each unit for $125. Budgeted information is as follows:   Revenues   $5,612,000 Direct materials   $1,932,000 Direct labor   552,000 Manufacturing overhead (fixed)   276,000 Manufacturing overhead (variable) 552,000 3,312,000 Total   $2,300,000 A special order has been received for 5,000 units to be sold for $80 per unit. The company would incur an additional $60,000 in total fixed costs in order to lease a special machine in order to make a slight modification to the original product. Should the company accept the special order? A. Yes, the revenue will increase substantially. B. No, total costs would increase by $303,600. C. Yes, profit will increase by $36,400. D. No, accepting this order would decrease profits to $2,263,600.