Pierceton Cycling has produced the following data for use in the budgeting process: | ||
Budgeted sales (units) | $ 1,890 | |
Sales price (per unit) | $ 745 | |
Cost (per unit) | $ 240 | |
Variable selling and administrative expense (per unit) | $ 105 | |
Fixed selling and administrative expense (per year) | $ 335,000 | |
Interest expense | $ 14,000 | |
Prepare the budgeted income statement for the year | ||
Budgeted Income Statement | ||
Sales | ||
Cost of goods sold | ||
Gross Margin | ||
Selling and administrative expenses | ||
Net operating income | ||
Interest expense | ||
Net income | ||
If the price of aluminum causes the cost per unit to increase by 5%, calculate the Net Income: | ||
Pierceton Cycling has produced the following data for use in the budgeting process: Budgeted sales (units)...
Please prepare the companys budgeted income statement for the year The following fictitious summary data has been provided for the company to use in the annual budgeting process: Budgeted unit sales 460 Selling price per unit $1,950 Cost per unit $1,575 Variable selling and administrative expense $75 (per unit) Fixed selling and administrative expense $105,000 (per year) Interest expense for the year $14,000
3 Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sa summary data to use in its annual budgeting process: Budgeted unit sales Selling price per unit 780 2,110 1,615 55 Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year $300,000 $ 27,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement Sales $ 1.645,800 Cost of...
EXERCISE 8-8 Budgeted Income Statement L08-9 Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year 460 $1,950 $1,575 $75 $105,000 $14,000 Required: Using Schedule as your guide, prepare the company's budgeted income statement...
Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management hos prepared the following summary data to use in its annual budgeting process: 360 points Budgeted unit sales Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year $ 2,150 $ 1,625 95 $ 335,000 $31.000 eBook Hint Print References Required: Prepare the company's budgeted Income statement for the year....
Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year 460 $ 1,950 $ 1,575 $ 75 $ 105,000 $ 14,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating...
Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales 520 Selling price per unit $ 1,980 Cost per unit $ 1,660 Variable selling and administrative expense (per unit) $ 60 Fixed selling and administrative expense (per year) $ 105,000 Interest expense for the year $ 14,000 Required: Prepare the company’s budgeted income statement for the year.
Saved Chapter 08 Homework(E8-12,3,5,7,8) 0 Exercise 8-8 Budgeted Income Statement (L08-9) Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: points Budgeted unit sales Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense per year) Interest expense for the year 680 2,060 1.60 11 $ 200,000 $ 22.000 Required: Prepare the company's...
3 Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: $ 2.110 Budgeted unit sales Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year $ 27,000 Required: Prepare the company's budgeted income statement for the year Gig Harbor Boating Budgeted Income Statement
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 465,000 Beginning merchandise inventory $ 31,000 Purchases $ 310,000 Ending merchandise inventory $ 15,500 Fixed selling expense $ ? Fixed administrative expense $ 18,600 Variable selling expense $ 23,250 Variable administrative expense $ ? Contribution margin $ 93,000 Net operating income $ 27,900 Prepare a contribution format income statement. Prepare a traditional format income statement. Calculate the selling price per unit, the variable...
Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year 480 $ 1,960 $ 1,350 40 $225,000 $ 12,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income...