Current Attempt in Progress Sandhill's, Inc. has provided you with the following financial information: Budgeted Actual Sales Quantity 8,100 8,300 Sales price per unit $6.50 $6.25 Variable product cost per unit 2.50 2.75 Selling expense (fixed) 5,100 8,100 Administrative expense (fixed) 17,100 16,100 Income tax expense 3,900 4,100 Prepare a flexible budget. SANDHILL'S, INC. Flexible Budget Sales Revenue

Current Attempt in Progress Sandhill's, Inc. has provided you with the following financial information: Budgeted Actual Sales Quantity 8,100 8,300 Sales price per unit $6.50 $6.25 Variable product cost per unit 2.50 2.75 Selling expense (fixed) 5,100 8,100 Administrative expense (fixed) 17,100 16,100 Income tax expense 3,900 4,100 Prepare a flexible budget. SANDHILL'S, INC. Flexible Budget Sales Revenue

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 5P: Selling and administrative expense budget and budgeted income statement Budgeted selling and...

See similar textbooks

Similar questions

Creat an initial budget sheet showing the sistribution of $100,000 use the example's format on EXCEL.
Sales Revenue Approach, Variable Cost Ratio, Contribution Margin Ratio Arberg Companys controller prepared the following budgeted income statement for the coming year: Required: 1. What is Arbergs variable cost ratio? What is its contribution margin ratio? 2. Suppose Arbergs actual revenues are 30,000 more than budgeted. By how much will operating income increase? Give the answer without preparing a new income statement 3. How much sales revenue must Arberg earn to break even? Prepare a contribution margin income statement to verify the accuracy of your answer. 4. What is Arbergs expected margin of safety? 5. What is Arbergs margin of safety if sales revenue is 380,000?
Selling and administrative expense budget and budgeted income statement Budgeted selling and administrative expenses for Scottsdale Styles Inc. in P7-4 for the year ended December 31, 2016, were as follows: Required: 1. Prepare a selling and administrative expenses budget, in good form, for the year 2016. 2. Using the information above and the budgets prepared in P7-4, prepare a budgeted income statement for the year 2016, assuming an income tax rate of 30%.
Income Statement Prepare the budgeted income statement. Cash Flows Balance Sheet Budgeted Income Statement Sales revenue Cost of goods sold Depreciation expense Operating income Interest expense Net income $ 372,000 X (336,000) X (4,000) 32,000 X (840) X $ 31,160
Relevant data from the Poster Company's operating budgets are: Sales Direct material purchases Direct labor Manufacturing overhead Selling and administrative expenses Depreciation included in selling and administrative Collections from customers Quarter 1 Quarter 2 Beginning Cash Balance Add: Cash Receipts Collections from Customers $208,480 $211,540 115,300 120,832 75,205 73,298 25,300 23,400 33,400 33,500 1,500 900 Cash payments for purchases Additional data: Capital assets were sold in January for $10,000 and $4,400 in May. Dividends of $4,000 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $39,000. 215,392 240,154 114,290 119,254 Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. Other Collections Total Receipts Total Available Cash Less: Cash Payments Purchase of Direct Material Direct Labor Manufacturing Overhead Selling and…
Sales Revenue Cost of Goods Sold Income from Operations Selling and Administrative Expenses Budgeted Income Statement For the Year Ending December 31, 2022 Income from Operations Interest Expense Income before Income Taxes Interest Expense Not Income (Loss) $ 326,400 (166,380) i 160,020 88,500 i 71,520 (4,130 67,390 (13,478 53912
7.3 Shown below are the totals from 2018 period budgets. Revenue budget Materials usage from production budget Labor cost budget Manufacturing overhead budget General and administrative budget Capital expenditure budget P100,000 15,000 20,000 20,000 30,000 20,000 32 How Work-in-Progress Inventories: Beginning of 2018 End of 2018 ndilet b rsM x) 1E valM 10,000 lsa 5,000 PLS Finished Goods Iventory: Beginning of 2018 End of 2018 Pla 15,000 10,000 Tax Rate 40% hen dees20 oldibsllonU Instructions: nongt od Prepare a forecasted Income Statement for the year. bas sldigilgon
Required Informati (The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: pexTA Elenent Variable Element per Cuntomer Served $ 5,800 $1,200 $ 570 Actual Total for May $184,000 $ 105,300 $ 16,500 * 41,600 per Month Revenue Enployee salaries and wagen Travel expennes other expenees $65,000 44,000 When preparing its planning budget the company estimated that it would serve 30 customers per month; however, du May the company octually served 35 customers. 5. What net operating income would appear in Adger's flexible budget for May? Net operating income
Splish Company has accumulated the following budget data for the year 2022: 1. 2. 3. 4. 5. 6. 19 Sales: 27,900 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, $6 per direct labour hour Inventories (raw materials only): beginning, 9,900 kg; ending, 14,100 kg Raw materials cost: $5 per kilogram Selling and administrative expenses: $201,000 Income taxes: 30% of income before income taxes
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…
Budgeting Inventories For each independent situation below, determine the missing amounts: A B C D Beginnning inventory 12,000 0 × 7,000 0 × Produced 40,000 27,000 0 × 56,000 Available 0 × 0 × 32,000 64,000 Sold 45,000 28,000 0 × 0 × Ending inventory 0 × 12,000 6,000 2,000
Required A Required B Prepare the pro forma income statement in contribution format that would appear in a flexible budget. SOLOMON MANUFACTURING COMPANY Pro Forma Income Statement Flexible Budget $ 0