1. A merchandising company's budget includes the following data for January: Sales: $400,000; COGS: $270,000; Administrative...
1. A merchandising company's budget includes the following data for January: Sales: $400,000; COGS: $270,000; Administrative salaries: $1,250; Sales commissions: 5% of sales; Advertising: $10,000; Salary for sales manager: $30,000; Miscellaneous administrative expenses: $5,000. The total selling expenses on the January selling expense budget will be $
2. A merchandising company's budget includes the following data for January: Sales: $400,000; COGS: $270,000; Administrative salaries: $1,250; Sales commissions: 5% of sales; Advertising: $10,000; Depreciation on store equipment: $25,000; Rent on administrative building: $30,000; Miscellaneous administrative expenses: $5,000. The total general and administrative expenses on the January general and administrative expense budget will be $ 61250
3. ABC Company prepared a cash budget for the month. The company has outstanding loans and desires a minimum cash balance of $10,000. If the company has a preliminary cash balance of $25,000, the company should:
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1. A merchandising company's budget includes the following data
for January: Sales: $400,000; COGS: $270,000; Administrative...
Flexible Budget for Selling and Administrative Expenses for a Service Company Cloud Productivity Inc. uses flexible...
Flexible Budget for Selling and Administrative Expenses for a Service Company Cloud Productivity Inc. uses flexible budgets that are based on the following data: Sales commissions 15% of sales Advertising expense 20% of sales Miscellaneous administrative expense $5,000 per month plus 12% of sales Office salaries expense $30,000 per month Customer support expenses $13,000 per month plus 20% of sales Research and development expense $30,000 per month Prepare a flexible selling and administrative expenses budget for March for sales volumes...
The following budget information is available for the Arch Company for January Year 2: Sales $...
The following budget information is available for the Arch Company for January Year 2: Sales $ 860,000 Cost of goods sold 540,000 Utilities expense 2,800 Administrative salaries 100,000 Sales commissions 5 % of sales Advertising 20,000 Depreciation on store equipment 50,000 Rent on administration building 60,000 Miscellaneous administrative expenses 10,000 All operating expenses are paid in cash in the month incurred. Compute total budgeted selling and administrative expenses (excluding interest) amount for January Year 2. Multiple Choice $262,500 $240,000 $285,800...
The following budget information is available for the Arch Company for January Year 2: pped Sales...
The following budget information is available for the Arch Company for January Year 2: pped Sales Cost of goods sold Utilities expense Administrative salaries Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses $860,000 540,000 2,800 100,000 5% of sales 20,000 50,000 60,000 10,000 All operating expenses are paid in cash in the month incurred. Compute total budgeted selling and administrative expenses (excluding interest) amount for January Year 2. Multiple Choice 0 $262,500 0 $283,000...
Type your answer in the box. A merchandising company's sales budget indicates the following sales: January:...
Type your answer in the box. A merchandising company's sales budget indicates the following sales: January: $30,000: February $20,000: March: $15,000. The company expects 80% of the sales to be on account. Credit sales are collected 30% in the month of the sale and 70% in the month, following the sale. The total cash receipts collected during March will be $ __________.
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget $2,130,000 $240,000 430,000 270,000 40,000 980,000 1,150,000 Sales (10,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation office equip. Insurance Office rent Income from operations 90,000 150,000 100,000 340,000 90,000 60,000 30,000 40,000 220,000 $ 590,000 Complete the...
Flexible budget for selling and administrative expenses for a service company Digital Solutions Inc. uses flexible...
Flexible budget for selling and administrative expenses for a service company Digital Solutions Inc. uses flexible An accounting device used to plan and control resources of operational departments and divisions.budgets that are based on the following data: Sales commissions 9% of sales Advertising expense 16% of sales Miscellaneous administrative expense $11,500 per month plus 3% of sales Office salaries expense $48,000 per month Customer support expenses $16,000 per month plus 33% of sales Research and development expense $79,000 per month...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous selling expense Office salaries expense Office supplies expense Miscellaneous administrative expense Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $130,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers. 8% of sales 15% of sales $1,900 plus 3% of sales $13,000 per month 4% of sales...
Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc. uses flexible...
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 8% of sales Advertising expense 15% of sales Miscellaneous administrative expense $10,000 per month plus 4% of sales $50,000 per month Office salaries expense Customer support expenses $20,000 per month plus 30% of sales $75,000 per month Research and development expense Prepare a flexible selling and administrative expenses budget for October for sales volumes...
Dobson Company owed past month's sales commissions of $21,000 on January 1. The company's master budget...
Dobson Company owed past month's sales commissions of $21,000 on January 1. The company's master budget contained the following operating expense budget: February March January Salary expense $40,000 $ 36,000 $ 36,000 Sales commissions, 5% of sales 30,000 24,000 28,000 Utilities 2,800 2,800 2,800 Depreciation on store equipment 1,800 1,800 1,800 7,200 7,200 Rent 7,200 Miscellaneous 1,800 1,800 1,800 Total operating expenses 77,600 $ 79,600 $ 77,600 Sales commissions are paid in cash in the month following the month in...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 22% of sales Miscellaneous selling expense $2,500 plus 2% of sales Office salaries expense $17,000 per month Office supplies expense 3% of sales Miscellaneous administrative expense $1,750 per month plus 1% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $110,000, $140,000, and $165,000. (Use Exhibit...
The following budget information is available for the Arch Company for January Year 2: pped Sales Cost of goods sold Utilities expense Administrative salaries Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses $860,000 540,000 2,800 100,000 5% of sales 20,000 50,000 60,000 10,000 All operating expenses are paid in cash in the month incurred. Compute total budgeted selling and administrative expenses (excluding interest) amount for January Year 2. Multiple Choice 0 $262,500 0 $283,000...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget $2,130,000 $240,000 430,000 270,000 40,000 980,000 1,150,000 Sales (10,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation office equip. Insurance Office rent Income from operations 90,000 150,000 100,000 340,000 90,000 60,000 30,000 40,000 220,000 $ 590,000 Complete the...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous selling expense Office salaries expense Office supplies expense Miscellaneous administrative expense Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $130,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers. 8% of sales 15% of sales $1,900 plus 3% of sales $13,000 per month 4% of sales...
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 8% of sales Advertising expense 15% of sales Miscellaneous administrative expense $10,000 per month plus 4% of sales $50,000 per month Office salaries expense Customer support expenses $20,000 per month plus 30% of sales $75,000 per month Research and development expense Prepare a flexible selling and administrative expenses budget for October for sales volumes...
Dobson Company owed past month's sales commissions of $21,000 on January 1. The company's master budget contained the following operating expense budget: February March January Salary expense $40,000 $ 36,000 $ 36,000 Sales commissions, 5% of sales 30,000 24,000 28,000 Utilities 2,800 2,800 2,800 Depreciation on store equipment 1,800 1,800 1,800 7,200 7,200 Rent 7,200 Miscellaneous 1,800 1,800 1,800 Total operating expenses 77,600 $ 79,600 $ 77,600 Sales commissions are paid in cash in the month following the month in...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 22% of sales Miscellaneous selling expense $2,500 plus 2% of sales Office salaries expense $17,000 per month Office supplies expense 3% of sales Miscellaneous administrative expense $1,750 per month plus 1% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $110,000, $140,000, and $165,000. (Use Exhibit...
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