Homework Answers
| TEMPO COMPANY | |||||
| Flexible Budgets | |||||
| For the 1st Quarter | |||||
| Flexible Budgets | Flexible Budgets | ||||
| Variable amount per unit | Total Fixed cost | 8,000 units | 10,000 units | 12,000 units | |
| Sales | $207.00 | $16,56,000.00 | $20,70,000.00 | $24,84,000.00 | |
| Variable Costs: | |||||
| Direct materials | $24.00 | $1,92,000.00 | 240000 | $2,88,000.00 | |
| Direct labor | $44.00 | $3,52,000.00 | 440000 | $5,28,000.00 | |
| Production supplies | $28.00 | $2,24,000.00 | 280000 | $3,36,000.00 | |
| Sales commissions | $8.00 | $64,000.00 | 80000 | $96,000.00 | |
| Packaging | $15.00 | $1,20,000.00 | 150000 | $1,80,000.00 | |
| Total Variable costs | $119.00 | $9,52,000.00 | $11,90,000.00 | $14,28,000.00 | |
| Contribution margin | $88.00 | $7,04,000.00 | $8,80,000.00 | $10,56,000.00 | |
| Fixed Costs: | |||||
| Plant manager salary | $40,000 | $40,000 | $40,000 | $40,000 | |
| Advertising | $1,00,000 | $1,00,000 | $1,00,000 | $1,00,000 | |
| Administrative salaries | $90,000 | $90,000 | $90,000 | $90,000 | |
| Depreciation expnses-Office equip | $60,000 | $60,000 | $60,000 | $60,000 | |
| Insurance | $30,000 | $30,000 | $30,000 | $30,000 | |
| Office Rent | $40,000 | $40,000 | $40,000 | $40,000 | |
| Total Fixed Costs | $3,60,000 | $3,60,000 | $3,60,000 | $3,60,000 | |
| Income from operations | $3,44,000 | $5,20,000 | $6,96,000 | ||
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Ch 08 Ex 8-30 Tempo Company's fixed budget (based on sales of 10,000 units) for the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following Fixed Budget $2,050,e00 Sales (10,000 units x $205 per unit) Cost of goods sold Direct materials $240,000 Direct labor 440,000 Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent 260,000 40,000 980,000 1,070,000 80,000 150,000 100,000 330,000 90,000 60,000 30,000 40,000 220,000 $ 520,000 Income from operations (1) Compute the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following. Fixed Budget $2,170,000 $230,000 430,000 270,000 30,000 960,000 1,210,000 Sales (10,000 units * $217 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 80,000 160,000 100,000 340,000 80,000 50,000 20,000 30,000 180,000 $ 690,000 (1) Compute the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following. Fixed Budget $2,100,000 $ 230,000 430,000 260,000 30,000 950,000 1,150,000 Sales (10,000 units X $210 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 80,000 150,000 100,000 330,000 80,000 50,000 20,000 30,000 180,000 640,000 $ (1) Compute...
Ch 08 Ex 8-3 G Saved Help Save 1 Tempo Company's fixed budget (based on sales...
Ch 08 Ex 8-3 G Saved Help Save 1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget Sales (16,000 units x $215 per unit) Cost of goods sold Direct materials $3,440,000 10 points $368,000 Direct labor 688,000 432,000 168,000 Production supplies Plant manager salary Gross profit Selling expenses 1,656,000 1,784,000 еВok Sales commissions 128,000 256,000 Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip 484,000 100,000 Hint 218,000 188,000 158,000...
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 $2,814,000 Sales (14,000 units x $201 per unit) Cost of goods sold Direct materials $350,000 616,000 364,000 150,000 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 1,480,000 1,334,000 98,000 210,000 100,000 408,000 200,000 170,000 140,000 150,000 660,000 $ 266,000 Income from operations (1) Compute the...
Tempo Company's fixed budget (based on sales of 7,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 7,000 units) for the first quarter reveals the following. Fixed Budget $2,800,000 $280,000 490,000 175,000 65,000 1,010,000 1,790,000 Sales (7,000 units X $ 400 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 140,000 154,000 125,000 419,000 85,000 35,000 20,000 36,000 176,000 $1,195,000 (1) Compute the...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following. Fixed Budget $ 2,544,000 $300,000 528,000 312,000 100,000 1,240,000 1,304,000 Sales (12,000 units X $212 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 96,000 180,000 100,000 376,000 150,000 120,000 90,000 100,000 460,000 468,000 $ (1)...
HOW DO I CALCULATE? Tempo Company's fixed budget (based on sales of 12,000 units) for the...
HOW DO I CALCULATE?
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following. Fixed Budget $ 2,472,000 $288,000 504,000 324,000 88,000 1,204,000 1,268,000 Sales (12,000 units x $206 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 84,000 180,000 100,000 364,000 138,000 108,000 78,000 88,000 412,000...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following Fixed Budget $2,604,e00 Sales (12,00e units x $217 per unit) Cost of goods sold Direct materials Direct labor $276,e00 528,000 324,000 Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance office rent 1,204,000 1,400,000 76,000 84,000 192,000 100,000 376,000 126,000 96,000 66,000 76,000 364,000 $ 660,000 Income from operations (1) Compute the...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 14,000...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the following. Fixed Budget $2,926,000 $350,000 602,000 378,000 150,000 1,480,000 1,446,000 Sales (14,000 units X $209 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 126,000 210,000 100,000 436,000 200,000 170,000 140,000...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following Fixed Budget $2,050,e00 Sales (10,000 units x $205 per unit) Cost of goods sold Direct materials $240,000 Direct labor 440,000 Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent 260,000 40,000 980,000 1,070,000 80,000 150,000 100,000 330,000 90,000 60,000 30,000 40,000 220,000 $ 520,000 Income from operations (1) Compute the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following. Fixed Budget $2,170,000 $230,000 430,000 270,000 30,000 960,000 1,210,000 Sales (10,000 units * $217 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 80,000 160,000 100,000 340,000 80,000 50,000 20,000 30,000 180,000 $ 690,000 (1) Compute the...
Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following. Fixed Budget $2,100,000 $ 230,000 430,000 260,000 30,000 950,000 1,150,000 Sales (10,000 units X $210 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 80,000 150,000 100,000 330,000 80,000 50,000 20,000 30,000 180,000 640,000 $ (1) Compute...
Ch 08 Ex 8-3 G Saved Help Save 1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget Sales (16,000 units x $215 per unit) Cost of goods sold Direct materials $3,440,000 10 points $368,000 Direct labor 688,000 432,000 168,000 Production supplies Plant manager salary Gross profit Selling expenses 1,656,000 1,784,000 еВok Sales commissions 128,000 256,000 Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip 484,000 100,000 Hint 218,000 188,000 158,000...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the following. Fixed Budget $2,814,000 Sales (14,000 units x $201 per unit) Cost of goods sold Direct materials $350,000 616,000 364,000 150,000 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 1,480,000 1,334,000 98,000 210,000 100,000 408,000 200,000 170,000 140,000 150,000 660,000 $ 266,000 Income from operations (1) Compute the...
Tempo Company's fixed budget (based on sales of 7,000 units) for the first quarter reveals the following. Fixed Budget $2,800,000 $280,000 490,000 175,000 65,000 1,010,000 1,790,000 Sales (7,000 units X $ 400 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 140,000 154,000 125,000 419,000 85,000 35,000 20,000 36,000 176,000 $1,195,000 (1) Compute the...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following. Fixed Budget $ 2,544,000 $300,000 528,000 312,000 100,000 1,240,000 1,304,000 Sales (12,000 units X $212 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 96,000 180,000 100,000 376,000 150,000 120,000 90,000 100,000 460,000 468,000 $ (1)...
HOW DO I CALCULATE?
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following. Fixed Budget $ 2,472,000 $288,000 504,000 324,000 88,000 1,204,000 1,268,000 Sales (12,000 units x $206 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 84,000 180,000 100,000 364,000 138,000 108,000 78,000 88,000 412,000...
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following Fixed Budget $2,604,e00 Sales (12,00e units x $217 per unit) Cost of goods sold Direct materials Direct labor $276,e00 528,000 324,000 Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance office rent 1,204,000 1,400,000 76,000 84,000 192,000 100,000 376,000 126,000 96,000 66,000 76,000 364,000 $ 660,000 Income from operations (1) Compute the...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter reveals the following. Fixed Budget $2,926,000 $350,000 602,000 378,000 150,000 1,480,000 1,446,000 Sales (14,000 units X $209 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 126,000 210,000 100,000 436,000 200,000 170,000 140,000...
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