Homework Answers
| November | December | |
| Total Budgeted selling and Administrative expenses | 54340 | 59380 |
| Workings: | ||
| November | December | |
| Commission | 12480 | 14160 |
| Advertising | 3120 | 3540 |
| Shipping | 21840 | 24780 |
| Sales salaries | 5500 | 5500 |
| Office salaries | 2800 | 2800 |
| Depreciation | 2800 | 2800 |
| Building Rent | 3400 | 3400 |
| Insurance | 1700 | 1700 |
| Utilities | 700 | 700 |
| Total Budgeted selling and Administrative expenses | 54340 | 59380 |
| November | December | |
| Commission | =3120*100*4% | =3540*100*4% |
| Advertising | =3120*100*1% | =3540*100*1% |
| Shipping | =3120*100*7% | =3540*100*7% |
Add Answer to:
The following information is available for Pioneer Company • Sales price per unit is $100. •...
The following Information is available for Pioneer Company: . Sales price per unit is $80. •...
The following Information is available for Pioneer Company: . Sales price per unit is $80. • November and December, sales were budgeted at 2,960 and 3,470 units, respectively. • Variable costs are 10 percent of sales (4 percent commission, 1 percent advertising, 5 percent shipping). . Fixed costs per month are sales salaries, $4,800; office salaries, $2,700; depreciation, $2,100; bullding rent, $3,000; Insurance, $1,500; and utilities, $700. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. November...
The following information is available for Pioneer Company: • Sales price per unit is $80. • November and December, sal...
The following information is available for Pioneer Company: • Sales price per unit is $80. • November and December, sales were budgeted at 3,000 and 3,580 units, respectively. • Variable costs are 10 percent of sales (5 percent commission, 1 percent advertising, 4 percent shipping). • Fixed costs per month are sales salaries, $4,000; office salaries, $2,700; depreciation, $2,900; building rent, $3,600; insurance, $1,600; and utilities, $800. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. November...
3 Exercises instructions I help Question 5 (of 7) Save & Exit Submit value: 1.00 points...
3 Exercises instructions I help Question 5 (of 7) Save & Exit Submit value: 1.00 points The following information is available for Pioneer Company: • Sales price per unit is $130. • November and December, sales were budgeted at 3,040 and 3,450 units, respectively. • Variable costs are 10 percent of sales (4 percent commission, 3 percent advertising, 3 percent shipping). • Fixed costs per month are sales salaries, $5,400; office salaries, $2,500; depreciation, $2,800; building rent, $3,200; insurance, $1,600;...
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...
The following budget information is available for the HD Sales Company HD for January $ Sales...
The following budget information is available for the HD Sales Company HD for January $ Sales Freight out Depreciation on Admin. Equipment Sales & Admin. Salaries Advertising Depreciation on Manuf. Equip. Lease on Sales Building Miscellaneous Selling Expenses $405,000 0.15 per unit sold $ 18,500 $ 50,200 +4% of sales $ 20,500 $ 23,500 $ 48,400 $ 6,700 All operating expenses are paid in cash in the month incurred. If HDC expects to sell 28,500 units of inventory, the total...
Monroe Company has developed the quarterly sales budget for the upcoming year that appears below: Quarter...
Monroe Company has developed the quarterly sales budget for the upcoming year that appears below: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budgeted unit sales 30,000 32,000 28,000 26,000 Budgeted sales revenue $180,000 $192,000 $168,000 $156,000 The company’s variable selling and administrative expenses consist of a 5% selling commission paid on sales revenues plus shipping expenses of $3 per unit. Fixed annual selling and administrative costs consisting of executive salaries, advertising, and depreciation occur evenly throughout the year and...
Merline Manufacturing makes its product for $75 per unit and sells it for $150 per unit....
Merline Manufacturing makes its product for $75 per unit and sells it for $150 per unit. The sales staff receives a 10% commission on the sale of each unit. Its December income statement follows. MERLINE MANUFACTURING Income Statement For Month Ended December 31, 2019 Sales $2,250,000 Cost of goods sold 1,125,000 Gross profit 1,125,000 Operating expenses Sales commissions (10%) 225,000 Advertising 250,000 Store rent 30,000 Administrative salaries 45,000 Depreciation-office equipment 50,000 Other expenses 10,000 Total expenses 610,000 Net income $...
Exercise 9-12 Kirkland Company combines its operating expenses for budget purposes in a selling and administrative...
Exercise 9-12
Kirkland Company combines its operating expenses for budget
purposes in a selling and administrative expense budget. For the
first 6 months of 2020, the following data are available.
1.
Sales: 20,600 units quarter 1; 22,100 units quarter 2.
2.
Variable costs per dollar of sales: sales commissions 5%,
delivery expense 2%, and advertising 3%.
3.
Fixed costs per quarter: sales salaries $10,000, office
salaries $6,130, depreciation $4,760, insurance $2,010, utilities
$820, and repairs expense $610.
4.
Unit selling...
Exercise 9-12 Kirkland Company combines its operating expenses for budget purposes in a selling and administrative...
Exercise 9-12
Kirkland Company combines its operating expenses for budget
purposes in a selling and administrative expense budget. For the
first 6 months of 2020, the following data are available.
1.
Sales: 20,200 units quarter 1; 22,200 units quarter 2.
2.
Variable costs per dollar of sales: sales commissions 5%,
delivery expense 2%, and advertising 3%.
3.
Fixed costs per quarter: sales salaries $10,600, office
salaries $6,370, depreciation $4,580, insurance $1,630, utilities
$840, and repairs expense $650.
4.
Unit selling...
The following Information is available for Pioneer Company: . Sales price per unit is $80. • November and December, sales were budgeted at 2,960 and 3,470 units, respectively. • Variable costs are 10 percent of sales (4 percent commission, 1 percent advertising, 5 percent shipping). . Fixed costs per month are sales salaries, $4,800; office salaries, $2,700; depreciation, $2,100; bullding rent, $3,000; Insurance, $1,500; and utilities, $700. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. November...
The following information is available for Pioneer Company: • Sales price per unit is $80. • November and December, sales were budgeted at 3,000 and 3,580 units, respectively. • Variable costs are 10 percent of sales (5 percent commission, 1 percent advertising, 4 percent shipping). • Fixed costs per month are sales salaries, $4,000; office salaries, $2,700; depreciation, $2,900; building rent, $3,600; insurance, $1,600; and utilities, $800. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. November...
3 Exercises instructions I help Question 5 (of 7) Save & Exit Submit value: 1.00 points The following information is available for Pioneer Company: • Sales price per unit is $130. • November and December, sales were budgeted at 3,040 and 3,450 units, respectively. • Variable costs are 10 percent of sales (4 percent commission, 3 percent advertising, 3 percent shipping). • Fixed costs per month are sales salaries, $5,400; office salaries, $2,500; depreciation, $2,800; building rent, $3,200; insurance, $1,600;...
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...
The following budget information is available for the HD Sales Company HD for January $ Sales Freight out Depreciation on Admin. Equipment Sales & Admin. Salaries Advertising Depreciation on Manuf. Equip. Lease on Sales Building Miscellaneous Selling Expenses $405,000 0.15 per unit sold $ 18,500 $ 50,200 +4% of sales $ 20,500 $ 23,500 $ 48,400 $ 6,700 All operating expenses are paid in cash in the month incurred. If HDC expects to sell 28,500 units of inventory, the total...
Merline Manufacturing makes its product for $75 per unit and sells it for $150 per unit. The sales staff receives a 10% commission on the sale of each unit. Its December income statement follows. MERLINE MANUFACTURING Income Statement For Month Ended December 31, 2019 Sales $2,250,000 Cost of goods sold 1,125,000 Gross profit 1,125,000 Operating expenses Sales commissions (10%) 225,000 Advertising 250,000 Store rent 30,000 Administrative salaries 45,000 Depreciation-office equipment 50,000 Other expenses 10,000 Total expenses 610,000 Net income $...
Exercise 9-12
Kirkland Company combines its operating expenses for budget
purposes in a selling and administrative expense budget. For the
first 6 months of 2020, the following data are available.
1.
Sales: 20,600 units quarter 1; 22,100 units quarter 2.
2.
Variable costs per dollar of sales: sales commissions 5%,
delivery expense 2%, and advertising 3%.
3.
Fixed costs per quarter: sales salaries $10,000, office
salaries $6,130, depreciation $4,760, insurance $2,010, utilities
$820, and repairs expense $610.
4.
Unit selling...
Exercise 9-12
Kirkland Company combines its operating expenses for budget
purposes in a selling and administrative expense budget. For the
first 6 months of 2020, the following data are available.
1.
Sales: 20,200 units quarter 1; 22,200 units quarter 2.
2.
Variable costs per dollar of sales: sales commissions 5%,
delivery expense 2%, and advertising 3%.
3.
Fixed costs per quarter: sales salaries $10,600, office
salaries $6,370, depreciation $4,580, insurance $1,630, utilities
$840, and repairs expense $650.
4.
Unit selling...
Most questions answered within 3 hours.
-
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 11 minutes ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 1 hour ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 2 hours ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 2 hours ago -
In
your own words, please explain the essay by John Keynes wrote "The
End of Laissez...
asked 2 hours ago -
How are the matrix and pixels related? Why are smaller
pixels better for diagnostic quality?
asked 2 hours ago -
2. An AC generator has 80 rectangular loops on
its armature. Each loop is 11 cm...
asked 2 hours ago -
Please help me with this question. Consider Aldi’s current and
potential geographic markets (see Exhibit 4...
asked 2 hours ago -
What are the main components of the fermentation process and
give an explanation of each? Include...
asked 2 hours ago -
Explain which types of cells in the body (belonging to which
organs, etc.) are sensitive to...
asked 2 hours ago -
A single cable supports an 703-kg elevator car. What is the
tension in the cable when...
asked 2 hours ago -
among the three different ways to link CSS specifications to an
HTML document (inline CSS, document...
asked 2 hours ago