Homework Answers
Solution:
| Tempo Company | |||||
| Flexible Budget - For quarter ended March 31, 2017 | |||||
| Particulars | Flexible Budget | Flexible Budget For | |||
| Variable amount per unit | Total Fixed Cost | Volume - 14000 units | Volume - 16000 units | Volume - 18000 units | |
| Sales | $215.00 | $3,010,000.00 | $3,440,000.00 | $3,870,000.00 | |
| Variable costs: | |||||
| Direct materials | $24.00 | $336,000.00 | $384,000.00 | $432,000.00 | |
| Direct labor | $42.00 | $588,000.00 | $672,000.00 | $756,000.00 | |
| Production Supplies | $26.00 | $364,000.00 | $416,000.00 | $468,000.00 | |
| Sales commission | $7.00 | $98,000.00 | $112,000.00 | $126,000.00 | |
| Packaging | $16.00 | $224,000.00 | $256,000.00 | $288,000.00 | |
| Total Variable costs | $115.00 | $1,610,000.00 | $1,840,000.00 | $2,070,000.00 | |
| Contribution margin | $100.00 | $1,400,000.00 | $1,600,000.00 | $1,800,000.00 | |
| Fixed Costs: | |||||
| Plant management salaries | $184,000.00 | $184,000.00 | $184,000.00 | $184,000.00 | |
| Advertising expense | $100,000.00 | $100,000.00 | $100,000.00 | $100,000.00 | |
| Administrative salaries | $234,000.00 | $234,000.00 | $234,000.00 | $234,000.00 | |
| Depreciation - Office Equipment | $204,000.00 | $204,000.00 | $204,000.00 | $204,000.00 | |
| Insurance | $174,000.00 | $174,000.00 | $174,000.00 | $174,000.00 | |
| Office Rent | $184,000.00 | $184,000.00 | $184,000.00 | $184,000.00 | |
| Total Fixed Costs | $1,080,000.00 | $1,080,000.00 | $1,080,000.00 | $1,080,000.00 | |
| Net Operating Income | $320,000.00 | $520,000.00 | $720,000.00 | ||
Add Answer to:
Check my work mode : This shows what is correct or incorrect for the work you...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (16,000 units) Cost of goods sold $3,328,000 $384,00e Direct materials Direct labor Production supplies Plant manager salary 688,000 416,000 184,000 1,672,000 Gross profit Selling expenses 1,656,000 Sales Commissions Packaging Advertising 128,000 256,000 100,000 484,000 Administrative expenses Administrative salaries Depreciation-office equip. 204,000 Insurance OTTice rent 234,000 174,000 184,000 96,900 Income from operations $ 376,000 Complete the following...
Tempo Company's fixed budget (based on sales of 16.000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 16.000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget $3,248,000 Sales (16,000 units) 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 $368,000 672,000 416,000 168,000 1,624,000 1,624,000 128,000 256,000 100,000 484,000 218,000 188,000 158,000 168,000 732,000 Income from operations 408,000 Compiete the following flexible...
Ch 08 Ex 8-3 G Saved Help Save 1 Tempo Company's fixed budget (based on sales...
Ch 08 Ex 8-3 G Saved Help Save 1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget Sales (16,000 units x $215 per unit) Cost of goods sold Direct materials $3,440,000 10 points $368,000 Direct labor 688,000 432,000 168,000 Production supplies Plant manager salary Gross profit Selling expenses 1,656,000 1,784,000 еВok Sales commissions 128,000 256,000 Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip 484,000 100,000 Hint 218,000 188,000 158,000...
Tempo Company's foxed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the f...
Tempo Company's foxed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fored Budget 53.216.000 $384.000 672.000 432.000 184.000 1.672.000 1.544.000 Sales (16,000 units) 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 144.000 240.000 100.000 484.000 234.000 204 000 174.000 184.000 _796.000 $ 264.000 Complete...
Exercise 21-2 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000 units) for the fir...
Exercise 21-2 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget Sales (16,000 units) $ 3,312,000 Cost of goods sold Direct materials $ 384,000 Direct labor 688,000 Production supplies 432,000 Plant manager salary 184,000 1,688,000 Gross profit 1,624,000 Selling expenses Sales commissions 144,000 Packaging 256,000 Advertising 100,000 500,000 Administrative expenses Administrative salaries 234,000 Depreciation—office equip. 204,000 Insurance 174,000 Office rent 184,000...
Check my workCheck My Work button is now enabled1 Item 1 Item 1 15 points Exercise...
Check my workCheck My Work button is now enabled1
Item 1
Item 1 15 points
Exercise 21-2 Preparing flexible budgets LO P1
Tempo Company's fixed budget (based on sales of 18,000 units)
for the first quarter of calendar year 2017 reveals the
following.
Complete the following flexible budgets for sales volumes of
16,000, 18,000, and 20,000 units.
Fixed Budget
Sales (18,000 units)
$
3,780,000
Cost of goods sold
Direct materials
$
432,000
Direct labor
756,000
Production supplies
486,000
Plant manager...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget 53,424,800 $368,000 672,000 416,000 168,00 1.624,000 1,800,000 Sales (16,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales Comissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent Income from operations 128,000 240,000 100,000 468,000 218,000 188,888 158,000 168,000 1732,000 $ 600,000 Complete the following...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (14,000 units) Cost of goods sold $2,996,000 Direct materials $336,000 602,000 364,000 Direct labor Production supplies Plant manager salary Gross profit Selling expenses 1,438,000 136,000 1,558,000 98,000 196,000 Sales commissions Packaging Advertising Administrative expenses 394,000 100,000 Administrative salaries 186,000 156,000 Depreciation-office equip Insurance 126,000 136,000 Office rent 604,000 Income from operations 560,000 Complete the following flexible...
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...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (16,000 units) Cost of goods sold $3,328,000 $384,00e Direct materials Direct labor Production supplies Plant manager salary 688,000 416,000 184,000 1,672,000 Gross profit Selling expenses 1,656,000 Sales Commissions Packaging Advertising 128,000 256,000 100,000 484,000 Administrative expenses Administrative salaries Depreciation-office equip. 204,000 Insurance OTTice rent 234,000 174,000 184,000 96,900 Income from operations $ 376,000 Complete the following...
Tempo Company's fixed budget (based on sales of 16.000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget $3,248,000 Sales (16,000 units) 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 $368,000 672,000 416,000 168,000 1,624,000 1,624,000 128,000 256,000 100,000 484,000 218,000 188,000 158,000 168,000 732,000 Income from operations 408,000 Compiete the following flexible...
Ch 08 Ex 8-3 G Saved Help Save 1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget Sales (16,000 units x $215 per unit) Cost of goods sold Direct materials $3,440,000 10 points $368,000 Direct labor 688,000 432,000 168,000 Production supplies Plant manager salary Gross profit Selling expenses 1,656,000 1,784,000 еВok Sales commissions 128,000 256,000 Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip 484,000 100,000 Hint 218,000 188,000 158,000...
Tempo Company's foxed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fored Budget 53.216.000 $384.000 672.000 432.000 184.000 1.672.000 1.544.000 Sales (16,000 units) 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 144.000 240.000 100.000 484.000 234.000 204 000 174.000 184.000 _796.000 $ 264.000 Complete...
Check my workCheck My Work button is now enabled1
Item 1
Item 1 15 points
Exercise 21-2 Preparing flexible budgets LO P1
Tempo Company's fixed budget (based on sales of 18,000 units)
for the first quarter of calendar year 2017 reveals the
following.
Complete the following flexible budgets for sales volumes of
16,000, 18,000, and 20,000 units.
Fixed Budget
Sales (18,000 units)
$
3,780,000
Cost of goods sold
Direct materials
$
432,000
Direct labor
756,000
Production supplies
486,000
Plant manager...
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget 53,424,800 $368,000 672,000 416,000 168,00 1.624,000 1,800,000 Sales (16,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales Comissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent Income from operations 128,000 240,000 100,000 468,000 218,000 188,888 158,000 168,000 1732,000 $ 600,000 Complete the following...
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Fixed Budget Sales (14,000 units) Cost of goods sold $2,996,000 Direct materials $336,000 602,000 364,000 Direct labor Production supplies Plant manager salary Gross profit Selling expenses 1,438,000 136,000 1,558,000 98,000 196,000 Sales commissions Packaging Advertising Administrative expenses 394,000 100,000 Administrative salaries 186,000 156,000 Depreciation-office equip Insurance 126,000 136,000 Office rent 604,000 Income from operations 560,000 Complete the following flexible...
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...
Most questions answered within 3 hours.
-
Garcia Company issues 20.00%, 15-year bonds with a par value of
$470,000 and semiannual interest payments....
asked 8 minutes ago -
The price of 1 lb of potatoes is $1.75. If all the potatoes sold
today at...
asked 10 minutes ago -
In C++ Programming, Try using loops only.
This lab demonstrates the use of the While Loop...
asked 56 minutes ago -
Effect of DCMU and sodium azide on Chlamydomonas? We did an
experiment where we had Chlamydomonas...
asked 1 hour ago -
1a) According to the ideal gas law, _______________.
a. a gas has infinite volume at absolute...
asked 3 hours ago -
Oakdale Fashions, Inc. had $245,000 in 2018 taxable income.
Using the tax schedule in Table 2.3...
asked 3 hours ago -
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 4 hours ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 4 hours ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 5 hours ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 5 hours ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 6 hours ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 7 hours ago