Homework Answers
Correct option is: objective - and - task method
Objective and task method allocates funds towards the marketing of its specific objective. Therefore the affordable method for promotional budgets is percentage of sales method and objective - and - task method
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Firms typically determine their promotional budget using one of three methods: the affordable method, the percentage-of-sales-method,...
A pharmaceutical company makes sales calls to phy-sicians to market their drugs. They want to determine...
A pharmaceutical company makes sales calls to phy-sicians to
market their drugs. They want to determine the impact of sales
calls on the profit it achieves per physician. The profit per
physician depends on the number of new prescriptions that are
written and the cost of making the sales calls. The cost of making
the sales calls depends on the number of sales calls made. The
number of sales calls also impacts the number of new prescriptions
written. Construct an...
budget for "Next Year" using the"% of Sales" method. Construct a Sales Revenues" for "Next Year" are forecasted to be $1200. Use "Current Liabilities" as the &...
budget for "Next Year" using the"% of Sales" method. Construct a Sales Revenues" for "Next Year" are forecasted to be $1200. Use "Current Liabilities" as the "plug " This Year %of SalesNext Year S 1,000 500 500 200 300 100 200 Sales Revenues Cost of Goods Sold Gross Margin Operating Expenses Eamings Before Interest & Taxes Interest Expense Earnings Before Taxes Income Taxes (at 50%) Net Income S 100 S 950 100 50 S 1,000 Beginning Retained Earnings Net Income...
QUESTION 5 Not yet answered Marked out of 1.00 Flag question Percentage-of-Completion and Completed Contract Methods Philbrick Company signed a three-year contract to provide sales training to the em...
QUESTION 5 Not yet answered Marked out of 1.00 Flag question Percentage-of-Completion and Completed Contract Methods Philbrick Company signed a three-year contract to provide sales training to the employees of Elliot Company. The contract price is $1,200 per employee and the estimated number of employees to be trained is 400. The expected number to be trained in each year and the expected training costs follow Number of Training Costs Employees Incurred 2016 125 $60,000 2017 200 75,000 40,000 75 2018...
Please Highlight the final answer Required: 1. Determine the price for the part using a markup...
Please Highlight the final answer
Required: 1. Determine the price for the part using a markup of 45% of full manufacturing cost. 2. Determine the price for the part using a markup of 23% of full life-cycle cost. 3. Determine the price for the part using a desired gross margin percentage to sales of 43%. 4. Determine the price for the part using a desired life-cycle cost margin percentage to sales of 20%. 5. Determine the price for the part...
A. perpetual inventory using FiFO B. lower of cost or market method Perpetual Inventory Using FIFO...
A. perpetual inventory using FiFO
B. lower of cost or market method
Perpetual Inventory Using FIFO Beginning Inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 43 units 15 Purchase 59 units @ $22 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a)the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L. Ten,...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L. Ten, Triol, and Pioze, from a joint process. Each production run costs $12,900. None of the products can be sold at split off, but must be processed further. Information on one batch of the three products is as follows: Product Gallons Further Processing Cost per Gallon $0.50 Eventual Market Price per Gallon L-Ten $2.00 Triol 3,700 4,000 2,300 1.00 5.00 Pioze 1.50 6.00 Required: 1....
Johnston Adhesives Company makes three widely used industrial adhesives: A101, A204, and B216. Sales and production...
Johnston Adhesives Company makes three widely used industrial adhesives: A101, A204, and B216. Sales and production information for each of the three adhesives are shown in the following table. Most of Johnston's customers ask for a special blend of the three products, which improves heat-resistance. The additional separable processing requires additional time and materials, and the price is increased accordingly, as shown in the table. Assume that Johnston produces only for specific customer orders, so there is no beginning or...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol,...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $12,900. None of the products can be sold at split-off, but must be processed further. Information on one batch of the three products is as follows: Product Gallons Further Processing Cost per Gallon Eventual Market Price per Gallon L-Ten 3,500 $0.50 $ 2.00 Triol 4,000 1.00 5.00 Pioze 2,500...
Suppose the government wants to reduce the total pollution emitted by three firms In Rs brea....
Suppose the government wants to reduce the total pollution emitted by three firms In Rs brea. Currently, each firm is creating 4 units of pollution in the area, for a total of 12 pollution units. The government wants to reduce total pollution in the area to 6 units. In order to do so, the goverment can choose between the following two methods. Method 1: The government sets pollution standards. Method 2: The government allocates tradable pollution permits. Compare the two...
PLEASE HELP! The master budget must be completed using formulas. there must be a sales budget,...
PLEASE HELP! The master budget must be completed using formulas.
there must be a sales budget, production budget, Direct Materials
budget, Direct labor budget, manufacturing overhead budget, selling
and admin budget, budgeted income statement, Schedule of exp
collections, sch of exp payments, sch of exp payments DM, cash
budget, and budgeted balance sheet. please include the formulas you
used.
Purpose: The purpose of this project is to help you practice and reinforce the steps necessary to complete a Master Budget,...
A pharmaceutical company makes sales calls to phy-sicians to
market their drugs. They want to determine the impact of sales
calls on the profit it achieves per physician. The profit per
physician depends on the number of new prescriptions that are
written and the cost of making the sales calls. The cost of making
the sales calls depends on the number of sales calls made. The
number of sales calls also impacts the number of new prescriptions
written. Construct an...
budget for "Next Year" using the"% of Sales" method. Construct a Sales Revenues" for "Next Year" are forecasted to be $1200. Use "Current Liabilities" as the "plug " This Year %of SalesNext Year S 1,000 500 500 200 300 100 200 Sales Revenues Cost of Goods Sold Gross Margin Operating Expenses Eamings Before Interest & Taxes Interest Expense Earnings Before Taxes Income Taxes (at 50%) Net Income S 100 S 950 100 50 S 1,000 Beginning Retained Earnings Net Income...
QUESTION 5 Not yet answered Marked out of 1.00 Flag question Percentage-of-Completion and Completed Contract Methods Philbrick Company signed a three-year contract to provide sales training to the employees of Elliot Company. The contract price is $1,200 per employee and the estimated number of employees to be trained is 400. The expected number to be trained in each year and the expected training costs follow Number of Training Costs Employees Incurred 2016 125 $60,000 2017 200 75,000 40,000 75 2018...
Please Highlight the final answer
Required: 1. Determine the price for the part using a markup of 45% of full manufacturing cost. 2. Determine the price for the part using a markup of 23% of full life-cycle cost. 3. Determine the price for the part using a desired gross margin percentage to sales of 43%. 4. Determine the price for the part using a desired life-cycle cost margin percentage to sales of 20%. 5. Determine the price for the part...
A. perpetual inventory using FiFO
B. lower of cost or market method
Perpetual Inventory Using FIFO Beginning Inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 43 units 15 Purchase 59 units @ $22 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a)the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods...
Allocating Joint Costs Using the Constant Gross Margin Method A company manufactures three products, L. Ten, Triol, and Pioze, from a joint process. Each production run costs $12,900. None of the products can be sold at split off, but must be processed further. Information on one batch of the three products is as follows: Product Gallons Further Processing Cost per Gallon $0.50 Eventual Market Price per Gallon L-Ten $2.00 Triol 3,700 4,000 2,300 1.00 5.00 Pioze 1.50 6.00 Required: 1....
Johnston Adhesives Company makes three widely used industrial adhesives: A101, A204, and B216. Sales and production information for each of the three adhesives are shown in the following table. Most of Johnston's customers ask for a special blend of the three products, which improves heat-resistance. The additional separable processing requires additional time and materials, and the price is increased accordingly, as shown in the table. Assume that Johnston produces only for specific customer orders, so there is no beginning or...
Suppose the government wants to reduce the total pollution emitted by three firms In Rs brea. Currently, each firm is creating 4 units of pollution in the area, for a total of 12 pollution units. The government wants to reduce total pollution in the area to 6 units. In order to do so, the goverment can choose between the following two methods. Method 1: The government sets pollution standards. Method 2: The government allocates tradable pollution permits. Compare the two...
PLEASE HELP! The master budget must be completed using formulas.
there must be a sales budget, production budget, Direct Materials
budget, Direct labor budget, manufacturing overhead budget, selling
and admin budget, budgeted income statement, Schedule of exp
collections, sch of exp payments, sch of exp payments DM, cash
budget, and budgeted balance sheet. please include the formulas you
used.
Purpose: The purpose of this project is to help you practice and reinforce the steps necessary to complete a Master Budget,...
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