Question

EX 21-1 Personal budget Obj. 2,5 cash At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the 3,150 months of September, October, November, and December. The budget must plan for enough TNPLATE CL Reserved layot copied or dupa w a rt WON 2020 Chapter 21 Budgeting 108 cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition The following information relates to the budget: $6,000 150 Cash balance, September 1 (from a summer job).... Purchase season football tickets in September... Additional entertainment for each month.. Pay fall semester tuition in September Pay rent at the beginning of each month... Pay for food each month. Pay apartment deposit on September 2 to be retumed December 151 Part-time job earnings each month (net of taxes) A. Prepare a cash budget for September October, November, and December B. Are the four monthly budgets that are presented prepared as static budgets budgets? What are the budget implications for Priscilla Wescott?

Answer 1

As HOMEWORKLIB RULES honor code if more then one question are asked only once question can be answered at at time I have solved here Second question hope you understand

Answer 21-2

Cloud Productivity
Selling and Administrative Expenses Budget
For March
Sales Volume	$        400,000	$        500,000	$        600,000
Variable Expenses
Sales Commission = 14% of sales	$          56,000	$          70,000	$          84,000
Advertising expenses = 18% of sales	$          72,000	$          90,000	$        108,000
Miscellaneous expenses = $6500+12% of sales	$          48,000	$          60,000	$          72,000
Customer support expenses = $12000+20% of sales	$          80,000	$        100,000	$        120,000
Total Variable Cost	$        256,000	$        320,000	$        384,000
Fixed expenses
Miscellaneous expense	$            6,500	$            6,500	$            6,500
Customer support expense	$          12,000	$          12,000	$          12,000
Office salaries expenses	$          28,000	$          28,000	$          28,000
Research and development expenses	$          30,000	$          30,000	$          30,000
Total Fixed Cost	$          76,500	$          76,500	$          76,500
Total Selling and Administrative Expenses	$        332,500	$        396,500	$        460,500