Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $115,000, $145,000, and $175,000. (Use Exhibit 5 as a model.)Enter all amounts as positive numbers.Agent BlazeFlexible Selling and Administrative Expenses BudgetFor the Month Ending January 31, 2016Total salesVariable cost:Sales commissionsAdvertising expense$115,000$145,000$175,000$tA6,900A27,6008,70034,800EA10,50042,0007,600 X9,400 X11,200 X5,7505,550 X7,2508,7506,950 X8,350 XA53,400 X $66,100 X$taMiscellaneous selling expenseOffice supplies expenseMiscellaneous administrative expenseTotal variable costFixed cost:Miscellaneous selling expenseOffice salaries expenseMiscellaneous administrative expenseTotal fixed costTotal selling and administrative expensesLAEAtAtAA

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Answered: Prepare a flexible selling and…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 4E: Prepare a cost of goods sold budget for the Crest Hills Manufacturing Co. for the year ended...

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Prepare a cost of goods sold budget for the Crest Hills Manufacturing Co. for the year ended December 31, 2016, from the following estimates. Inventories of production units: Direct materials purchased during the year, 854,000; beginning inventory of direct materials, 31,000; and ending inventory of direct materials, 26,000. Totals from other budgets included:
Digital Solutions Inc. uses flexible budgets that are based on the following data: Prepare a flexible selling and administrative expenses budget for October for sales volumes of 500,000, 750,000, and 1,000,000.
Function: SUM; Formula: Subtract, Multiply; Cell Referencing Using Excel to Prepare a Production Budget PROBLEM Paige Company estimates that following unit sales and desired inventory level for the four quarters of the year ending December 31, 2022. Quarter 1 sales Quarter 2 sales Quarter 3 sales Quarter 4 sales Desired ending finished goods inventory based on next quarter's expected unit sales Unit selling price 10,000 14,000 15,000 18,000 25% $ 70.00 Prepare a production budget by quarters for the first 6 months of 2022. Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem area or this work area as indicated. Use the SUM function with cell referencing for totals. Paige Company Production Budget For the Six Months Ending June 30, 2022 Quarter 1 10,000 Expected unit sales Add: Desired ending finished goods units Total required units Less: Beginning finished goods units Required production…
Echo Amplifiers prepared the following sales budget for the first quarter of 2018: Jan. Feb. Mar. Units 800 1,200 1,500 Sales price $100 $100 $100 Budgeted sales $80,000 $120,000 $150,000 It also has this additional information related to its expenses: Direct material per unit $1.50 Direct labor per unit 2 Variable manufacturing overhead per hour 0.40 Fixed manufacturing overhead per month 2,900 Sales commissions per unit 14 Sales salaries per month 5,100 Delivery expense per unit 0.50 Factory utilities per month 4,000 Administrative salaries per month 20,000 Marketing expenses per month 7,000 Insurance expense per month 10,000 Depreciation expense per month 10,000 Prepare a sales and administrative expense budget for each month in the quarter ending March 31, 2018. Enter all amounts as positive numbers.
Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $115,000, $145,000, and $175,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers. Agent Blaze Flexible Selling and Administrative Expenses Budget For the Month Ending January 31, 2016 Total sales Variable cost: Sales commissions Advertising expense $115,000 $145,000 $175,000 $ tA 6,900 A 27,600 8,700 34,800 EA 10,500 42,000 7,600 X 9,400 X 11,200 X 5,750 5,550 X 7,250 8,750 6,950 X 8,350 X A 53,400 X $ 66,100 X $ ta Miscellaneous selling expense Office supplies expense Miscellaneous administrative expense Total variable cost Fixed cost: Miscellaneous selling expense Office salaries expense Miscellaneous administrative expense Total fixed cost Total selling and administrative expenses LA EA tA tA A
Integrated Excel: Preparing a Contribution Format Income Statement Using the High-Low Method Jay Corporation has provided data from a two-year period to aid in planning. The Controller has asked you to prepare a contribution format income statement. Budgeted information for Quarter 1 of 2024: Sales in units Sales price per unit After analyzing expenses, the company has determined the following cost patterns. Cost of Goods Sold (per unit) Sales Commissions (per dollar of sales). Administrative Salaries (per quarter) Rent Expense (per quarter) Depreciation Expense (per quarter) Shipping has been determined to be a mixed cost with the following total costs and units: 2022 Quarter 1 Quarter 2 Quarter 3 Quarter 4 2023 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Cost $ 67,000 $ 94,000 $ 89,800 $ 92,600 $ 72,500 $80,000 $ 84,000 $ 100,000 17,000 $ 48.00 Units 12,500 21,000 13,800 20,000 13,700 14,000 14,300 22,500 $29.00 9.50€ $ 45,000 $ 27,000 $ 36,000 Required: Use the data to answer the…
1.2 REQUIRED Use the information provided below to prepare the Direct Materials Purchases Budget for April 2019. INFORMATION The estimated sales volumes of Product Jip of Polo Manufacturers for April and May 2019 are as follows: Units April 18 000 May 15 000 The policy of Polo Manufacturers is to maintain a finished goods closing inventory each month at a level equal to 40% of the next month's budgeted sales. Each unit of Product Jip requires 2 kg of Material A and 1 kg of Material B. The costs per kg of Material A and Material B are R10 and R20 respectively. Inventories of materials are expected to be as follows: Material A Material B Opening inventory 5 000 kg 6 000 kg Closing inventory 1 000 kg 2 000 kg
The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses Fixed Expenses Sales commissions $11,180 Sales salaries $35,500 Advertising 10,530 Depreciation 7,400 Travel 6,920 Insurance 1,100 Delivery 3,580 (b) Prepare a flexible budget performance report, assuming that March sales were $180,500. (List variable costs before fixed costs.) FALLON COMPANYSelling Expense Flexible Budget ReportFor the Month Ended March 31, 2020 Difference Budget Actual FavorableUnfavorableNeither Favorablenor Unfavorable Select an opening flexible budget report item AdvertisingDepreciationDeliveryFixed ExpensesInsuranceSalesSales CommissionsSales SalariesTotal ExpensesTotal Fixed ExpensesTotal Variable ExpensesTravelVariable Expenses $Enter a dollar amount $Enter a dollar amount Select an opening name for…
For the year 2016 Fountain springs marketing managers project monthly sales of 520000 1litre and 185000 16litre unit Average selling prices are estimated at 050 per 1litre unit and 700 per 16litre unit prepare a revenue budget for fountain springs inc for the year ending December 31 2016
For the quarter ended March 31, 2022, Pharoah Company accumulates the following sales data for its product, Garden-Tools: $341,000 budgeted: $327,000 actual. Prepare a static budget report for the quarter. Product Line Garden- Tools $ Budget PHAROAH COMPANY Sales Budget Report Actual Difference Favourable Unfavourable Neither Favourable nor Unfavourab
e. Manufacturing Overhead Budget Sales Revenue The Eastern Technology Company manufactures Weather Radios for sale to retailers such as Wal-Mart, Target, etc. The 2016 quarterly unit sales estimates and projected sales prices per unit areas follows: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales units 9,200 9,300 9,500 9,400 Price per unit $90 $90 $90 $90 Also, note that that projected sales (and projected production) for Quarter 1 of 2017 is 10,000 units Product Cost Assumptions The company's product requires two raw materials, resistors and switches. Cost parameters are as follows: Number of Components/Unit Switches @ $4/switch 3 Resistors @ $8/switch 2 Number of minutes required to complete finished unit Direct labor minutes per unit Machine minutes per unit 30 12 Hour rates used Direct labor rate= $10/hour Manufacturing overhead rates (i.e., the PDOHRS to use to apply overhead) Labor-related= $25/hour Machine-related= $40/hour Eastern applies manufacturing overhead using two cost…
Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc. uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous administrative expense Office salaries expense Customer support expenses Research and development expense Prepare a flexible selling and administrative expenses budget for October for sales volumes of $400,000, $500,000, and $600,000. (Use Exhibit 5 as a model.) Digital Solutions Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending October 31 Total sales Variable cost: Total variable cost Fixed cost: Total fixed cost Total selling and administrative expenses 14% of sales 18% of sales $5,500 per month plus 12% of sales $28,000 per month $12,000 per month plus 20% of sales $30,000 per month $400,000 $500,000 $600,000 $ $ $ $

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