Variable selling and administrative expenses are $1.05 per bag of chips sold. Fixed selling and administrative...
- Variable selling and administrative expenses are $1.05 per bag of chips sold. Fixed selling and administrative expenses are $40,000 per month. These costs are not itemized, i.e., the budget has only two line items – variable operating expenses and fixed operating expenses. Prepare an Operating Expenses budget.
Homework Answers
| Particulars | Fixed | Variable |
| Selling and administrative expenses | $40,000 | $1.05/bag |
| Total | $40,000 | $1.05/bag |
Add Answer to:
Variable selling and administrative expenses are $1.05 per bag
of chips sold. Fixed selling and administrative...
The JustOneMore Company produces and sells organic plain potato chips. The one-pound family size bag of...
The JustOneMore Company produces and sells organic plain potato chips. The one-pound family size bag of chips has two direct materials – potatoes and packaging. JustOneMore is preparing budgets for the second quarter ending June 30, 2019. For each requirement below prepare budgets by month for April, May, and June, and a total budget for the quarter. Statements 5-8 are the only ones needed! The previous year’s sales (2018) for the corresponding period were: April 60,000 bags May 70,000 bags...
The JustOneMore Company produces and sells organic plain potato chips. The one-pound family size bag of...
The JustOneMore Company produces and sells organic plain potato chips. The one-pound family size bag of chips has two direct materials – potatoes and packaging. JustOneMore is preparing budgets for the second quarter ending June 30, 2019. For each requirement below prepare budgets by month for April, May, and June, and a total budget for the quarter. The previous year’s sales (2018) for the corresponding period were: April 60,000 bags May 70,000 bags June 85,000 bags July 75,000...
ONLY NEED QUESTIONS 5-8 ANSWERED The JustOneMore Company produces and sells organic plain potato chips. The...
ONLY NEED QUESTIONS 5-8 ANSWERED The JustOneMore Company produces and sells organic plain potato chips. The one-pound family size bag of chips has two direct materials – potatoes and packaging. JustOneMore is preparing budgets for the second quarter ending June 30, 2019. For each requirement below prepare budgets by month for April, May, and June, and a total budget for the quarter. The previous year’s sales (2018) for the corresponding period were: April 60,000 bags May 70,000 bags June ...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $30 $4 $2 $40,000 $30,000 $24,000 $44,000 $180,000 2. Prepare a contribution format income statement Cherokee, Inc. Contribution Format Income Statement Sales. Variable expenses: Cost of goods sold. Selling expense Administrative expenses Fixed expenses: Selling expenses Administrative expenses... Net operating income ....
The company’s variable selling and administrative expense per unit is $3.30. Fixed selling and administrative expenses i...
The company’s variable selling and administrative expense per
unit is $3.30. Fixed selling and administrative expenses include
advertising expenses of $11,000 per quarter, executive salaries of
$53,000 per quarter, and depreciation of $33,000 per quarter. In
addition, the company will make insurance payments of $4,000 in the
first quarter and $4,000 in the third quarter. Finally, property
taxes of $7,200 will be paid in the second quarter.
Required:
Prepare the company’s selling and administrative expense budget
for the upcoming...
$12,000 Sales Variable costs: Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling...
$12,000 Sales Variable costs: Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling Fixed administrative $6,000 $600 $400 $2,500 $1,500 Enter a formula into each of the cells marked with a ? below Exhibit 2-9 Traditional Format Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling Administrative Net operating income Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Variable selling Variable administration Contribution margin Fixed expenses: Fixed selling Fixed...
Elbert Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses...
Elbert Company classifies its selling and administrative expense
budget into variable and fixed components. Variable expenses are
expected to be $24,000 in the first quarter, and $4,000 increments
are expected in the remaining quarters of 2017. Fixed expenses are
expected to be $40,000 in each quarter.
Prepare the selling and administrative expense budget by quarters
and in total for 2017.
ELBERT
COMPANY
Selling and Administrative Expense Budget
For
the Quarter Ending December 31, 2017For the Year Ending December
31, 2017December...
Rado Company classifies its selling and administrative expenses budget into variable and fixed components. It expects...
Rado Company classifies its selling and administrative expenses budget into variable and fixed components. It expects variable expenses to be $25,500 in the first quarter, and expects $5,400 increments in the remaining quarters of 2020. It expects fixed expenses to be $40,900 in each quarter. Prepare the selling and administrative expenses budget by quarters for 2020. RADO COMPANY Selling and Administrative Expense Budget For the Year Ending December 31, 2020 Quarter 1 2 3 4 Year Variable costs $ $...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 11,000 17 1 3 $ 21,000 $ 15,000 $ 8,000 $ 25,000 $ 86,000 points Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1...
variable selling and ausura Live expenses 32 pa unit) Fixed selling and administrative expenses Total selling...
variable selling and ausura Live expenses 32 pa unit) Fixed selling and administrative expenses Total selling and administrative expenses $ 46,000 $ 86,000 245,000 245,000 $291,000 $331,000 2. Prepare a table as in Exhibit 19.12 to convert variable costing income to absorption costing income for both 201 amounts should be entered with a minus sign.) 2019 DOWELL COMPANY Reconciliation of Variable Costing Income to Absorption Costing Income 2018 Variable costing income (loss) Add: Fixed overhead in ending inventory 100,000 Less:...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $30 $4 $2 $40,000 $30,000 $24,000 $44,000 $180,000 2. Prepare a contribution format income statement Cherokee, Inc. Contribution Format Income Statement Sales. Variable expenses: Cost of goods sold. Selling expense Administrative expenses Fixed expenses: Selling expenses Administrative expenses... Net operating income ....
The company’s variable selling and administrative expense per
unit is $3.30. Fixed selling and administrative expenses include
advertising expenses of $11,000 per quarter, executive salaries of
$53,000 per quarter, and depreciation of $33,000 per quarter. In
addition, the company will make insurance payments of $4,000 in the
first quarter and $4,000 in the third quarter. Finally, property
taxes of $7,200 will be paid in the second quarter.
Required:
Prepare the company’s selling and administrative expense budget
for the upcoming...
$12,000 Sales Variable costs: Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling Fixed administrative $6,000 $600 $400 $2,500 $1,500 Enter a formula into each of the cells marked with a ? below Exhibit 2-9 Traditional Format Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling Administrative Net operating income Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Variable selling Variable administration Contribution margin Fixed expenses: Fixed selling Fixed...
Elbert Company classifies its selling and administrative expense
budget into variable and fixed components. Variable expenses are
expected to be $24,000 in the first quarter, and $4,000 increments
are expected in the remaining quarters of 2017. Fixed expenses are
expected to be $40,000 in each quarter.
Prepare the selling and administrative expense budget by quarters
and in total for 2017.
ELBERT
COMPANY
Selling and Administrative Expense Budget
For
the Quarter Ending December 31, 2017For the Year Ending December
31, 2017December...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 11,000 17 1 3 $ 21,000 $ 15,000 $ 8,000 $ 25,000 $ 86,000 points Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1...
variable selling and ausura Live expenses 32 pa unit) Fixed selling and administrative expenses Total selling and administrative expenses $ 46,000 $ 86,000 245,000 245,000 $291,000 $331,000 2. Prepare a table as in Exhibit 19.12 to convert variable costing income to absorption costing income for both 201 amounts should be entered with a minus sign.) 2019 DOWELL COMPANY Reconciliation of Variable Costing Income to Absorption Costing Income 2018 Variable costing income (loss) Add: Fixed overhead in ending inventory 100,000 Less:...
Most questions answered within 3 hours.
-
How do ECM Solutions assist in embedding a culture of continuous
improvement in an organization? (Project...
asked 9 minutes ago -
Directions
These directions introduce the idea of Essential Questions.
Since this may be a new concept...
asked 12 minutes ago -
1.b. Fiscal policy is said to suffer from ‘crowding out’.
Explain what this means and why...
asked 29 minutes ago -
The equation for the reaction of nitrogen and oxygen to form
nitrogen oxide is written as...
asked 33 minutes ago -
A scientist reproducing some photoelectric effect experiments
shines a light on a metal electrode, but doesn't...
asked 36 minutes ago -
In a study designed to test the effectiveness of magnets for
treating back pain, 35 patients...
asked 56 minutes ago -
Here are summary statistics for randomly selected weights of
newborn girls:
nequals=193,
x overbarxequals=30.5
hg,
sequals=7.3...
asked 46 minutes ago -
Exercise #3:
Create the “MathTest” class. It will have two class variables:
1) a question and...
asked 49 minutes ago -
In epidemiology, how do you calculate the overall incidence of
cure within two groups? What formula...
asked 52 minutes ago -
A 1 liter solution contains 0.357 M ammonium chloride and 0.268
M ammonia. Addition of 0.295...
asked 53 minutes ago -
What are the advantages and disadvantages of using virtual
reality simulations in health care education?
asked 58 minutes ago -
Given input { 66, 28, 43, 29, 44, 69, 19 } and a hash function
h(x)...
asked 1 hour ago