Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Total Units Unit Amount per Fixed Sales of Sales of Unit Cost 14,100 16,100 $ $ $ 210.00 2,961,000 3,381,000 Administrative salaries Depreciation-Machinery Depreciation-Office equipment Sales staff salaries Supervisory salaries Total fixed costs Income 4.00 15.00 56,400 64,400 211,500 241,500 19.00 $ 110.00 267,900 305,900 1,551,000 1,771,000 295,000 295,000 295,000 $ $ $ 295,000 295,000 295,000 $ $ 48,550 268,550 < Prev
Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Total Units Unit Amount per Fixed Sales of Sales of Unit Cost 14,100 16,100 $ $ $ 210.00 2,961,000 3,381,000 Administrative salaries Depreciation-Machinery Depreciation-Office equipment Sales staff salaries Supervisory salaries Total fixed costs Income 4.00 15.00 56,400 64,400 211,500 241,500 19.00 $ 110.00 267,900 305,900 1,551,000 1,771,000 295,000 295,000 295,000 $ $ $ 295,000 295,000 295,000 $ $ 48,550 268,550 < Prev
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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