Homework Answers
| November | December | |
| Sales | 236800 | 277600 |
| Variable Cost | ||
| Sales commission | 9472 | 11104 |
| Advertising | 2368 | 2776 |
| Shipping | 11840 | 13880 |
| Total Variable cost | 23680 | 27760 |
| Fixed cost | ||
| Sales salaries | 4800 | 4800 |
| Office salaries | 2700 | 2700 |
| Depreciation | 2100 | 2100 |
| Building rent | 3000 | 3000 |
| Insurance | 1500 | 1500 |
| Utilities | 700 | 700 |
| Total Fixed cost | 14800 | 14800 |
| Total Selling and administrative expense | 38480 | 42560 |
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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, 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...
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 $100. • November and December, sales were budgeted at 3,120 and 3,540 units, respectively. • Variable costs are 12 percent of sales (4 percent commission, 1 percent advertising, 7 percent shipping). • Fixed costs per month are sales salaries, $5,500; office salaries, $2,800; depreciation, $2,800; building rent, $3,400; insurance, $1,700, and utilities, $700. 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;...
Croy Inc. has the following projected sales for the next five months: Month April May Sales in Units 3,560 3...
Croy Inc. has the following projected sales for the next five months: Month April May Sales in Units 3,560 3,920 4,560 4,140 3,940 June July August Croy's finished goods Inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $3.10 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the ne month's production needs on hand at the...
Price per Pizza is $10 In addition, Tony projected the following costs corresponding to sales of 4,000 and 6,000 pizzas...
Price per Pizza is $10
In addition, Tony projected the following costs corresponding to sales of 4,000 and 6,000 pizzas for this year's November operation: Sales Levels Operating Cost Items 4,000 6,000 Dough $1,600 $2,400 Toppings 1,000 1,500 Cheese 2,700 1,800 1,200 Tomatoes 1,800 Energy* 2,500 3,000 3,000 Kitchen personnel Delivery personnel 3,000 1,320 880 Car expenses 2,600 2,900 Facilities* 10,000 10,000 Advertising 4,500 4,500 Total Operating Costs $29,080 $33,120 * These costs are all related to the Kitchen. Although...
2600 2,800 2,100 sales. of the (based on production of 27,000 units) and $.80 per unit...
2600 2,800 2,100 sales. of the (based on production of 27,000 units) and $.80 per unit variable manufacturing overhead. 2. Compute the budgeted selling and administrative expenses statement for the handisaw product for the first quarter. (Round direct material, direct labor and overhead costs per unit to 2 decimal places Round final answers to the nearest dollar amount.) Budgeted Income Statement ist Budgeted Gross Profit
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...
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...
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 $...
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...
The following information is available for Pioneer Company • Sales price per unit is $100. • November and December, sales were budgeted at 3,120 and 3,540 units, respectively. • Variable costs are 12 percent of sales (4 percent commission, 1 percent advertising, 7 percent shipping). • Fixed costs per month are sales salaries, $5,500; office salaries, $2,800; depreciation, $2,800; building rent, $3,400; insurance, $1,700, and utilities, $700. 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;...
Croy Inc. has the following projected sales for the next five months: Month April May Sales in Units 3,560 3,920 4,560 4,140 3,940 June July August Croy's finished goods Inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $3.10 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the ne month's production needs on hand at the...
Price per Pizza is $10
In addition, Tony projected the following costs corresponding to sales of 4,000 and 6,000 pizzas for this year's November operation: Sales Levels Operating Cost Items 4,000 6,000 Dough $1,600 $2,400 Toppings 1,000 1,500 Cheese 2,700 1,800 1,200 Tomatoes 1,800 Energy* 2,500 3,000 3,000 Kitchen personnel Delivery personnel 3,000 1,320 880 Car expenses 2,600 2,900 Facilities* 10,000 10,000 Advertising 4,500 4,500 Total Operating Costs $29,080 $33,120 * These costs are all related to the Kitchen. Although...
2600 2,800 2,100 sales. of the (based on production of 27,000 units) and $.80 per unit variable manufacturing overhead. 2. Compute the budgeted selling and administrative expenses statement for the handisaw product for the first quarter. (Round direct material, direct labor and overhead costs per unit to 2 decimal places Round final answers to the nearest dollar amount.) Budgeted Income Statement ist Budgeted Gross Profit
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...
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 $...
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