Homework Answers
Selling expense budget
For April, May and June
| April | May | June | |
| Budgeted sales | 65000 | 135000 | 50000 |
| Budgeted selling expenses | |||
| Sales commissions | 6500 | 13500 | 5000 |
| Sales manager monthly salary | 6500 | 6500 | 6500 |
| Total budgeted selling expense | 13000 | 20000 | 11500 |
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Return to question 3 QS 20-11 Selling expense budget LO P1 X-Tel budgets sales of $65,000...
Check my work 3 QS 20-11 Selling expense budget LO P1 X-Tel budgets sales of $65,000...
Check my work 3 QS 20-11 Selling expense budget LO P1 X-Tel budgets sales of $65,000 for April, $135,000 for May, and $50,000 for June. points In addition, sales commissions are 10% of sales dollars and the company pays a sales manager a salary of $6,500 per month. Sales commissions and salaries are paid in the month incurred. eBook Prepare a selling expense budget for April, May, and June. Print References X-TEL Selling Expense Budget For April, May, and June...
QS 22-10 Cash receipts budget LO P2 X-Tel budgets sales of $70,000 for April, $130,000 for...
QS 22-10 Cash receipts budget LO P2 X-Tel budgets sales of $70,000 for April, $130,000 for May, and $70,000 for June. In addition, sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $17,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April Sales $ 70,000 Less: Ending accounts receivable...
X-Tel budgets sales of $80,000 for April, $88,000 for May, and $40,000 for June In addition,...
X-Tel budgets sales of $80,000 for April, $88,000 for May, and $40,000 for June In addition, sales are 60% cash and 40% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $11,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April May June Cash receipts from: Total cash receipts
x-Tel budgets sales of $55,000 for April, $110,000 for May, and $60,000 for June. 5 In addition, sales are 50 % cas...
x-Tel budgets sales of $55,000 for April, $110,000 for May, and $60,000 for June. 5 In addition, sales are 50 % cash and 50 % on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $19,000. Prepare a schedule of budgeted cash receipts for April, May, and June. 05 X-TEL points Cash Recelpts Budget For April, May, and June April May June eBook Print References Cash receipts from Total...
X-Tel budgets sales of $60,000 for April, $120,000 for May, and $85,000 for June. In addition, sales are 50% cas...
X-Tel budgets sales of $60,000 for April, $120,000 for May, and $85,000 for June. In addition, sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $18,000. Prepare a schedule of budgeted cash receipts for April, May, and June May June X-TEL Cash Receipts Budget For April, May, and June April Sales Less: Ending accounts receivable Cash receipts from: Cash sales Collections of...
Problem 20-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of...
Problem 20-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total...
QS 7-12 Manufacturing: Production budget LO P1 Champ, Inc., predicts the following sales in units for...
QS 7-12 Manufacturing: Production budget LO P1 Champ, Inc., predicts the following sales in units for the coming two months May June 200 Sales in units 280 Each month's ending inventory of finished units should be 60% of the next month's sales. The April 30 finished goods inventory is 120 units. Compute Champ's budgeted production (in units) for May CHAMP, INC. Production Budget For Month Ended May 31 Next month's budgeted sales (units) 280 Ratio of inventory to future sales...
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...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget $3,392,000 $384,000 672,000 432,000 184,000 1,672,000 1,720,000 Sales (16,000 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 144,000 240,000 100,000 484,000 234,000 204,000 174,000...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget $3,392,000 $384,000 672,000 432,000 184,000 1,672,000 1,720,000 Sales (16,000 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 144,000 240,000 100,000 484,000 234,000 204,000 174,000...
Check my work 3 QS 20-11 Selling expense budget LO P1 X-Tel budgets sales of $65,000 for April, $135,000 for May, and $50,000 for June. points In addition, sales commissions are 10% of sales dollars and the company pays a sales manager a salary of $6,500 per month. Sales commissions and salaries are paid in the month incurred. eBook Prepare a selling expense budget for April, May, and June. Print References X-TEL Selling Expense Budget For April, May, and June...
QS 22-10 Cash receipts budget LO P2 X-Tel budgets sales of $70,000 for April, $130,000 for May, and $70,000 for June. In addition, sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $17,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April Sales $ 70,000 Less: Ending accounts receivable...
X-Tel budgets sales of $80,000 for April, $88,000 for May, and $40,000 for June In addition, sales are 60% cash and 40% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $11,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April May June Cash receipts from: Total cash receipts
x-Tel budgets sales of $55,000 for April, $110,000 for May, and $60,000 for June. 5 In addition, sales are 50 % cash and 50 % on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $19,000. Prepare a schedule of budgeted cash receipts for April, May, and June. 05 X-TEL points Cash Recelpts Budget For April, May, and June April May June eBook Print References Cash receipts from Total...
X-Tel budgets sales of $60,000 for April, $120,000 for May, and $85,000 for June. In addition, sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $18,000. Prepare a schedule of budgeted cash receipts for April, May, and June May June X-TEL Cash Receipts Budget For April, May, and June April Sales Less: Ending accounts receivable Cash receipts from: Cash sales Collections of...
Problem 20-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total...
QS 7-12 Manufacturing: Production budget LO P1 Champ, Inc., predicts the following sales in units for the coming two months May June 200 Sales in units 280 Each month's ending inventory of finished units should be 60% of the next month's sales. The April 30 finished goods inventory is 120 units. Compute Champ's budgeted production (in units) for May CHAMP, INC. Production Budget For Month Ended May 31 Next month's budgeted sales (units) 280 Ratio of inventory to future sales...
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...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget $3,392,000 $384,000 672,000 432,000 184,000 1,672,000 1,720,000 Sales (16,000 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 144,000 240,000 100,000 484,000 234,000 204,000 174,000...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget $3,392,000 $384,000 672,000 432,000 184,000 1,672,000 1,720,000 Sales (16,000 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 144,000 240,000 100,000 484,000 234,000 204,000 174,000...
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