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Homework Answers
Requirement 3
| PHOENIX COMPANY | ||||
| Forecasted Contribution margin Income Statement | ||||
| For the year ended December 31, 2017 | ||||
| Sales(in units) | 15000 | 18000 | ||
| Contribution margin per unit | $ 106.00 | $ 106.00 | ||
| Contribution margin | $ 1,590,000.00 | $ 1,908,000.00 | ||
| Fixed cost | $ 1,371,000.00 | $ 1,371,000.00 | ||
| Operating income | $ 219,000.00 | $ 537,000.00 | $ 318,000 | Operating income increase |
Requirement 4
| PHOENIX COMPANY | ||||
| Forecasted Contribution margin Income Statement | ||||
| For the year ended December 31, 2017 | ||||
| Sales(in units) | 15000 | 12000 | ||
| Contribution margin per unit | $ 106.00 | $ 106.00 | ||
| Contribution margin | $ 1,590,000.00 | $ 1,272,000.00 | ||
| Fixed cost | $ 1,371,000.00 | $ 1,371,000.00 | ||
| Operating income | $ 219,000.00 | $ (99,000.00) | ||
Working
| PHOENIX COMPANY | |||||
| Flexible Budget report | |||||
| For year ended December 31, 2017 | |||||
| Flexibla budget | Flexible budget for | ||||
| variable Amount per Unit | Total Fixed cost | 15000 units | 12000 units | ||
| Sales | $ 200 | $ 3,000,000 | $ 3,600,000 | ||
| Variable costs | |||||
| Direct material | $ 62 | $ 930,000 | $ 1,116,000 | ||
| Direct Labor | $ 16 | $ 240,000 | $ 288,000 | ||
| Machinery repairs | $ 3 | $ 45,000 | $ 54,000 | ||
| Utilities | $ 2 | $ 30,000 | $ 36,000 | ||
| Packaging | $ 5 | $ 75,000 | $ 90,000 | ||
| Shipping | $ 6 | $ 90,000 | $ 108,000 | ||
| Total Variable Coists | $ 94 | $ 1,410,000 | $ 1,692,000 | ||
| Contribution margin | $ 106 | $ 1,590,000 | $ 1,908,000 | ||
| Fixed costs | |||||
| Depreciation- Plant equipment | $ 330,000 | $ 330,000 | $ 330,000 | ||
| Utilities | $ 180,000 | $ 180,000 | $ 180,000 | ||
| Plant management salaries | $ 180,000 | $ 180,000 | $ 180,000 | ||
| Sales salaries | $ 235,000 | $ 235,000 | $ 235,000 | ||
| Advertising expenses | $ 125,000 | $ 125,000 | $ 125,000 | ||
| Salaries | $ 241,000 | $ 241,000 | $ 241,000 | ||
| Entertainment expenses | $ 80,000 | $ 80,000 | $ 80,000 | ||
| Total Fixed costs | $ 1,371,000 | $ 1,371,000 | $ 1,371,000 | ||
| Income from Operations | $ 219,000 | $ 537,000 | |||
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Required information [The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report it is based on an expected production and sales volume of 15,000 units $3,150.000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities (545,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual...
Required information The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget...
Required information The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales $3,000,000 Cost of goods sold Direct materials $975,000 225,000 60,000 300,000 195,000 200,000 Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight -line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling...
[The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the...
[The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. 3.150.000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment straight-line) Utilities ($60,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary fixed annual amount) General...
Required information The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget...
Required information The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,150,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $930,000 Direct labor 225,000 Machinery repairs (variable cost) 45,000 Depreciation--Plant equipment (straight-line) 330,000 Utilities ($45,000 is variable) 180,000 Plant management salaries 190,000 Gross profit Selling expenses...
Required information [The following information applies to the questions displayed below.] Phoenix Company’s 2017 master budget...
Required information [The following information applies to the
questions displayed below.] Phoenix Company’s 2017 master budget
included the following fixed budget report. It is based on an
expected production and sales volume of 15,000 units. PHOENIX
COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales
$ 3,150,000 Cost of goods sold Direct materials $ 915,000 Direct
labor 225,000 Machinery repairs (variable cost) 60,000
Depreciation—Plant equipment (straight-line) 315,000 Utilities
($45,000 is variable) 195,000 Plant management salaries 220,000
1,930,000 Gross...
Required information [The following information applies to the questions displayed below.] Phoenix Company’s 2017 master budget...
Required information
[The following information applies to the questions
displayed below.]
Phoenix Company’s 2017 master budget included the following fixed
budget report. It is based on an expected production and sales
volume of 15,000 units.
PHOENIX COMPANY
Fixed Budget Report
For Year Ended December 31, 2017
Sales
$
3,000,000
Cost of goods sold
Direct materials
$
975,000
Direct labor
225,000
Machinery repairs (variable cost)
60,000
Depreciation—Plant equipment (straight-line)
300,000
Utilities ($45,000 is variable)
195,000
Plant management salaries
200,000
1,955,000
Gross...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $915,000 Direct labor 225,000 Machinery repairs (variable cost) 60,000 Depreciation-Plant equipment (straight-line) 330,000 Utilities ($45,000 is variable) 195,000 Plant management salaries 210,000 Gross profit Selling expenses Packaging 90,000 Shipping 90,000 Sales salary (fixed annual amount) 235,000 General...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. ed December 31, 2017 $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 312017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales...
Required information (The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget...
Required information (The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $975,000 Direct labor 225,000 Machinery repairs (variable cost) 60,000 Depreciation,Plant equipment (straight-line) 300,000 Utilities ($ 45,000 is variable) 195,000 Plant management salaries 200,000 Gross profit Selling...
The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget included the...
The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales $ 3.750,000 Cost of goods sold Direct materials $ 60.000 Direct labor 280.000 Machinery repairs variable cost 45.000 Depreciation-Plant equipment straight-line) 300.000 Utes ($60.000 is variable Plant management salaries 20.000 120.000 Gross profit 1230.000 Selling...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report it is based on an expected production and sales volume of 15,000 units $3,150.000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities (545,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual...
Required information The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales $3,000,000 Cost of goods sold Direct materials $975,000 225,000 60,000 300,000 195,000 200,000 Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight -line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling...
[The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. 3.150.000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment straight-line) Utilities ($60,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary fixed annual amount) General...
Required information The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,150,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $930,000 Direct labor 225,000 Machinery repairs (variable cost) 45,000 Depreciation--Plant equipment (straight-line) 330,000 Utilities ($45,000 is variable) 180,000 Plant management salaries 190,000 Gross profit Selling expenses...
Required information [The following information applies to the
questions displayed below.] Phoenix Company’s 2017 master budget
included the following fixed budget report. It is based on an
expected production and sales volume of 15,000 units. PHOENIX
COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales
$ 3,150,000 Cost of goods sold Direct materials $ 915,000 Direct
labor 225,000 Machinery repairs (variable cost) 60,000
Depreciation—Plant equipment (straight-line) 315,000 Utilities
($45,000 is variable) 195,000 Plant management salaries 220,000
1,930,000 Gross...
Required information
[The following information applies to the questions
displayed below.]
Phoenix Company’s 2017 master budget included the following fixed
budget report. It is based on an expected production and sales
volume of 15,000 units.
PHOENIX COMPANY
Fixed Budget Report
For Year Ended December 31, 2017
Sales
$
3,000,000
Cost of goods sold
Direct materials
$
975,000
Direct labor
225,000
Machinery repairs (variable cost)
60,000
Depreciation—Plant equipment (straight-line)
300,000
Utilities ($45,000 is variable)
195,000
Plant management salaries
200,000
1,955,000
Gross...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $915,000 Direct labor 225,000 Machinery repairs (variable cost) 60,000 Depreciation-Plant equipment (straight-line) 330,000 Utilities ($45,000 is variable) 195,000 Plant management salaries 210,000 Gross profit Selling expenses Packaging 90,000 Shipping 90,000 Sales salary (fixed annual amount) 235,000 General...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. ed December 31, 2017 $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 312017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales...
Required information (The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $975,000 Direct labor 225,000 Machinery repairs (variable cost) 60,000 Depreciation,Plant equipment (straight-line) 300,000 Utilities ($ 45,000 is variable) 195,000 Plant management salaries 200,000 Gross profit Selling...
The following information applies to the questions displayed below.) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales $ 3.750,000 Cost of goods sold Direct materials $ 60.000 Direct labor 280.000 Machinery repairs variable cost 45.000 Depreciation-Plant equipment straight-line) 300.000 Utes ($60.000 is variable Plant management salaries 20.000 120.000 Gross profit 1230.000 Selling...
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