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| Tempo Company | ||||||
| Flexible Budgets | ||||||
| For Quarter ended for March 31, 2017 | ||||||
| Flexible Budget | Flexible Budget at | |||||
| Variable amount per unit | Total Fixed cost | 12,000 units | 14,000 units | 16,000 units | ||
| (a) | [(a) X 12,000] | [(a) X 14,000] | [(a) X 16,000] | |||
| (i) | Sales (2814000/14000) | $ 201 | $ 24,12,000 | $ 28,14,000 | $ 32,16,000 | |
| Variable Costs: | ||||||
| Direct material (322000/14000) | $ 23 | $ 2,76,000 | $ 3,22,000 | $ 3,68,000 | ||
| Direct labor (616000/14000) | $ 44 | $ 5,28,000 | $ 6,16,000 | $ 7,04,000 | ||
| Production Supplies (378000/14000) | $ 27 | $ 3,24,000 | $ 3,78,000 | $ 4,32,000 | ||
| Sales Commissions (112000/14000) | $ 8 | $ 96,000 | $ 1,12,000 | $ 1,28,000 | ||
| Packaging (210000/14000) | $ 15 | $ 1,80,000 | $ 2,10,000 | $ 2,40,000 | ||
| (ii) | Total Variable costs | $ 117 | $ 14,04,000 | $ 16,38,000 | $ 18,72,000 | |
| (iii) | Contribution margin (i) - (ii) | $ 84 | $ 10,08,000 | $ 11,76,000 | $ 13,44,000 | |
| Fixed costs: | ||||||
| Plant manager salary | $ 1,22,000 | $ 1,22,000 | $ 1,22,000 | $ 1,22,000 | ||
| Advertising | $ 1,00,000 | $ 1,00,000 | $ 1,00,000 | $ 1,00,000 | ||
| Administrative Salaries | $ 1,72,000 | $ 1,72,000 | $ 1,72,000 | $ 1,72,000 | ||
| Depreciation - Office Equip. | $ 1,42,000 | $ 1,42,000 | $ 1,42,000 | $ 1,42,000 | ||
| Insurance | $ 1,12,000 | $ 1,12,000 | $ 1,12,000 | $ 1,12,000 | ||
| Office Rent | $ 1,22,000 | $ 1,22,000 | $ 1,22,000 | $ 1,22,000 | ||
| (iv) | Total Fixed Costs (iii) - (iv) | $ 7,70,000 | $ 7,70,000 | $ 7,70,000 | $ 7,70,000 | |
| Income from Operations | $ 2,38,000 | $ 4,06,000 | $ 5,74,000 | |||
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Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (14,000 units) Cost of goods sold $2,912,000 Direct materials Direct labor Production supplies Plant manager salary $322,000 602,000 392,000 122,000 1,438,000 Gross profit Selling expenses 1,474,000 Sales commissions Packaging Advertising 112,000 224,000 100.000 436,000 Administrative expenses Administrative salaries Depreciation-office equ Insurance Office rent 172,000 142,000 112,000 122,000 ip. 548,000 490,000 Income from operations Complete the following...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (14,000 units) Cost of goods sold $2,996,000 Direct materials $336,000 602,000 364,000 Direct labor Production supplies Plant manager salary Gross profit Selling expenses 1,438,000 136,000 1,558,000 98,000 196,000 Sales commissions Packaging Advertising Administrative expenses 394,000 100,000 Administrative salaries 186,000 156,000 Depreciation-office equip Insurance 126,000 136,000 Office rent 604,000 Income from operations 560,000 Complete the following flexible...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget $2,963,600 $336,609 692, 378,000 136,000 1,452,eee 1,516,00 Sales (14,000 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 98,990 210,000 100,000 488, cee 186,000 156,000 126,000 136,000 684,699 504,000 $ Complete the...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the following. Fixed Budget Sales (14,000 units × $205 per unit) $ 2,870,000 Cost of goods sold Direct materials $ 322,000 Direct labor 602,000 Production supplies 392,000 Plant manager salary 122,000 1,438,000 Gross profit 1,432,000 Selling expenses Sales commissions 112,000 Packaging 210,000 Advertising 100,000 422,000 Administrative expenses Administrative salaries 172,000 Depreciation—office equip. 142,000 Insurance 112,000 Office rent 122,000 548,000 Income from operations $ 462,000 (1)...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (12,000 units) $2,472,000 Cost of goods sold Direct materials $288,000 Direct labor 516,000 Production supplies 312, eee Plant manager salary 88,000 1,204,000 Gross profit 1,268,000 Selling expenses Sales commissions 84,000 Packaging 192,000 Advertising 100,000 376,000 Administrative expenses Administrative salaries 138,000 Depreciation office equip. 108,000 Insurance 78,000 Office rent 88,000 Income from operations $ 482.ee cost per...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the following. Fixed Budget $2,996,000 $322,000 602,000 392,000 122,000 1,438,000 1,558,000 Sales (14,000 units * $214 per unit) 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 112,000 210,000 100,000 422,000 172,000 142,000 112,000 122,000 548,000 588,000 6 (1) Compute the...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget 53,424,800 $368,000 672,000 416,000 168,00 1.624,000 1,800,000 Sales (16,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales Comissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent Income from operations 128,000 240,000 100,000 468,000 218,000 188,888 158,000 168,000 1732,000 $ 600,000 Complete the following...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget $2.628,000 $ 276,000 516,000 324,000 76,000 1,192,000 1,436,000 Sales (12,000 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 108,000 180,000 100,000 388,000 126,000 96,000 66,000 76,000 364,000 684,000 $ Complete...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget Sales (12,000 units) $ 2,604,000 Cost of goods sold Direct materials $ 300,000 Direct labor 516,000 Production supplies 324,000 Plant manager salary 100,000 1,240,000 Gross profit 1,364,000 Selling expenses Sales commissions 108,000 Packaging 192,000 Advertising 100,000 400,000 Administrative expenses Administrative salaries 150,000 Depreciation—office equip. 120,000 Insurance 90,000 Office rent 100,000 460,000 Income from operations $ 504,000 Complete...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget $2,532,000 $288,000 528,000 336,000 88,000 1,240,000 1,292,000 Sales (12,000 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 84,000 168,000 100,000 352,000 138,000 108,000 78,000 88,000 412,000 $ 528,000 Complete the following...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (14,000 units) Cost of goods sold $2,912,000 Direct materials Direct labor Production supplies Plant manager salary $322,000 602,000 392,000 122,000 1,438,000 Gross profit Selling expenses 1,474,000 Sales commissions Packaging Advertising 112,000 224,000 100.000 436,000 Administrative expenses Administrative salaries Depreciation-office equ Insurance Office rent 172,000 142,000 112,000 122,000 ip. 548,000 490,000 Income from operations Complete the following...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (14,000 units) Cost of goods sold $2,996,000 Direct materials $336,000 602,000 364,000 Direct labor Production supplies Plant manager salary Gross profit Selling expenses 1,438,000 136,000 1,558,000 98,000 196,000 Sales commissions Packaging Advertising Administrative expenses 394,000 100,000 Administrative salaries 186,000 156,000 Depreciation-office equip Insurance 126,000 136,000 Office rent 604,000 Income from operations 560,000 Complete the following flexible...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget $2,963,600 $336,609 692, 378,000 136,000 1,452,eee 1,516,00 Sales (14,000 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 98,990 210,000 100,000 488, cee 186,000 156,000 126,000 136,000 684,699 504,000 $ Complete the...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (12,000 units) $2,472,000 Cost of goods sold Direct materials $288,000 Direct labor 516,000 Production supplies 312, eee Plant manager salary 88,000 1,204,000 Gross profit 1,268,000 Selling expenses Sales commissions 84,000 Packaging 192,000 Advertising 100,000 376,000 Administrative expenses Administrative salaries 138,000 Depreciation office equip. 108,000 Insurance 78,000 Office rent 88,000 Income from operations $ 482.ee cost per...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the following. Fixed Budget $2,996,000 $322,000 602,000 392,000 122,000 1,438,000 1,558,000 Sales (14,000 units * $214 per unit) 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 112,000 210,000 100,000 422,000 172,000 142,000 112,000 122,000 548,000 588,000 6 (1) Compute the...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget 53,424,800 $368,000 672,000 416,000 168,00 1.624,000 1,800,000 Sales (16,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales Comissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent Income from operations 128,000 240,000 100,000 468,000 218,000 188,888 158,000 168,000 1732,000 $ 600,000 Complete the following...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget $2.628,000 $ 276,000 516,000 324,000 76,000 1,192,000 1,436,000 Sales (12,000 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 108,000 180,000 100,000 388,000 126,000 96,000 66,000 76,000 364,000 684,000 $ Complete...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget $2,532,000 $288,000 528,000 336,000 88,000 1,240,000 1,292,000 Sales (12,000 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 84,000 168,000 100,000 352,000 138,000 108,000 78,000 88,000 412,000 $ 528,000 Complete the following...
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