Homework Answers
(20)
OPTION: Is the percent of each sales dollar that remains after deducting the total unit variable cost
EXPLANATION:
contribution margin ratio = (sales - total variable cost)/sales
(21)
OPTION: cash budget
EXPLANATION:
cash budgeted possess said characteristics
(22)
OPTION: budgeted income statement
EXPLANATION:
the elements required to prepare budgeted income statement cannot be determined without first determining cash budget
(20)
OPTION: estimated depreciation expense for October
EXPLANATION:
depreciation being a non cash expense, is not relevant for cash budget
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U theral and administrative expense budget. Budgeted income statement. D Question 23 Which of the following...
Question 27 2.5 pts Fortune Company's direct materials budget shows the following cost of materials to...
Question 27 2.5 pts Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: January $12,040 February $14,150 March $10,970 Material purchases Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,500. The budgeted cash payments for materials in January are: $6,500 $9.270 $12.520 $13,095 $18,540 25 nts Question 28 U$S1,100. $33,900. D...
Question 19 2.5 pts The budgeted income statement presented below is for Burkett Corporation for the...
Question 19 2.5 pts The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units that must be sold in order to achieve a target pretax income of $130,000 100% $ 1,000,000 Collapse Sales (50,000 units) Costs: Direct materials Direct labor Fixed factory overhead Variable factory overhead Fixed marketing costs Variable marketing costs Pretax income $ 270,000 240,000 100,000 150,000 110,000 50,000 920,000 $ 80,000 53,165 81.250. 36,207. 50,000 58,621 D...
Need Selling & Administrative Expense Budget, Cash Budget, Budgeted Income Statement for EXCEL. Schedules to include:...
Need Selling & Administrative Expense Budget, Cash Budget,
Budgeted Income Statement for EXCEL.
Schedules to include: a. Sales Budget, with a Schedule of Expected Cash Collections b. Production Budget c. Ending Finished Goods Inventory Budget d. Direct Materials Budget, with a Schedule of Cash Disbursement e. Direct Labor Budget f. Manufacturing Overhead Budget g. Selling & Administrative Expense Budget h. Cash Budget i Budgeted Income Statement Sharp Products is a manufacturing company. It uses absorption costing for budgeting. amount unit...
Question 15 2.5 pts A product sells for $200 per unit, and its variable costs per...
Question 15 2.5 pts A product sells for $200 per unit, and its variable costs per unit are $130. Totalfixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold? 6,500 6,000 O 500. 5,000 5,500 2.5 pts Question 16 MacBook Air $1,700,000 Question 14 2.5 pts Henderson Co. has fixed costs of $36,000 and a contribution margin ratio of 24%. If expected sales are $200,000, what is the margin of safety...
40. Selling and Administrative Budget and Budgeted Income Statement. CThe previous problem must b...
PREVIOUS PROBLEM!
40. Selling and Administrative Budget and Budgeted Income Statement. CThe previous problem must be completed before working this problem.) Sports Bars, Inc., produces energy bars. Management estimates all selling and administrative costs are fixed. Quarterly selling and administrative cost estimates for the coming year follow Salaries Rent Advertising $120,000 Depreciation 75,000 Other $170,000 $ 65,000 36,000 Required: a Use the information presented previously to prepare a selling and administrative budget. Refer to the format shown in Figure 9.8....
The selling and administrative expense budget of Choo Corporation is based on budgeted unit sales, which...
The selling and administrative expense budget of Choo Corporation is based on budgeted unit sales, which are 4,600 units for August. The variable selling and administrative expense is $7.30 per unit. The budgeted fixed selling and administrative expense is $51,980 per month, which includes depreciation of $6,440 per month. The remainder of the fixed selling and administrative expense represents current cash flows. The cash disbursements for selling and administrative expenses on the August selling and administrative expense budget should be:...
Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expense...
Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 20Y9, the following tentative trial balance as of December 31, 20Y8, is prepared by the Accounting Department of Regina Soap Co.: Cash $103,100 Accounts Receivable 177,300 Finished Goods 37,200 Work in Process 24,800 Materials 40,800 Prepaid Expenses 3,000 Plant and Equipment 486,600 Accumulated Depreciation—Plant and Equipment $209,200 Accounts Payable 141,800 Common Stock, $10 par 300,000...
O 2.500 units O 5,175 units. 2.5 pts Question 39 Masterson Company's budgeted production calls for...
O 2.500 units O 5,175 units. 2.5 pts Question 39 Masterson Company's budgeted production calls for 56,000 units in April and 52,000 units in May of a key raw material that costs $1.85 per unit. Each month's ending raw materials inventory should equal 30% of the following month's budgeted materials. The April 1 inventory for this materials 16,800 unit. What is the budgeted materials needed in units for April? 71,600 units 39,200 units 57,600 units. 56,000 units 54,800 units 25...
Question 31 2.5 pts Zhang Industries sells a product for $700 per unit. Unit sales for...
Question 31 2.5 pts Zhang Industries sells a product for $700 per unit. Unit sales for May were 400, and each month's unit sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales. Compute the budgeted selling expense for the manager for the month ended June 30. $8,600. $11,652. $8,652. $5,768. $8,768. 2.5 pts Question 32 MacBook Air Question 30 2.5 pts Zhang Industries sells a...
3. Prepare a contribution margin income statement based on the budgeted figures for next year. In...
3. Prepare a contribution margin income statement based on the budgeted figures for next year. In a column next to the income statement, show the percentages based on sales for sales, total variable cost, and total contribution margin. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement. Head-First Company Contribution Margin Income Statement For the Coming Year Percent of Sales Refer to the list below for the exact wording of text...
Question 27 2.5 pts Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: January $12,040 February $14,150 March $10,970 Material purchases Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,500. The budgeted cash payments for materials in January are: $6,500 $9.270 $12.520 $13,095 $18,540 25 nts Question 28 U$S1,100. $33,900. D...
Question 19 2.5 pts The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units that must be sold in order to achieve a target pretax income of $130,000 100% $ 1,000,000 Collapse Sales (50,000 units) Costs: Direct materials Direct labor Fixed factory overhead Variable factory overhead Fixed marketing costs Variable marketing costs Pretax income $ 270,000 240,000 100,000 150,000 110,000 50,000 920,000 $ 80,000 53,165 81.250. 36,207. 50,000 58,621 D...
Need Selling & Administrative Expense Budget, Cash Budget,
Budgeted Income Statement for EXCEL.
Schedules to include: a. Sales Budget, with a Schedule of Expected Cash Collections b. Production Budget c. Ending Finished Goods Inventory Budget d. Direct Materials Budget, with a Schedule of Cash Disbursement e. Direct Labor Budget f. Manufacturing Overhead Budget g. Selling & Administrative Expense Budget h. Cash Budget i Budgeted Income Statement Sharp Products is a manufacturing company. It uses absorption costing for budgeting. amount unit...
Question 15 2.5 pts A product sells for $200 per unit, and its variable costs per unit are $130. Totalfixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold? 6,500 6,000 O 500. 5,000 5,500 2.5 pts Question 16 MacBook Air $1,700,000 Question 14 2.5 pts Henderson Co. has fixed costs of $36,000 and a contribution margin ratio of 24%. If expected sales are $200,000, what is the margin of safety...
PREVIOUS PROBLEM!
40. Selling and Administrative Budget and Budgeted Income Statement. CThe previous problem must be completed before working this problem.) Sports Bars, Inc., produces energy bars. Management estimates all selling and administrative costs are fixed. Quarterly selling and administrative cost estimates for the coming year follow Salaries Rent Advertising $120,000 Depreciation 75,000 Other $170,000 $ 65,000 36,000 Required: a Use the information presented previously to prepare a selling and administrative budget. Refer to the format shown in Figure 9.8....
O 2.500 units O 5,175 units. 2.5 pts Question 39 Masterson Company's budgeted production calls for 56,000 units in April and 52,000 units in May of a key raw material that costs $1.85 per unit. Each month's ending raw materials inventory should equal 30% of the following month's budgeted materials. The April 1 inventory for this materials 16,800 unit. What is the budgeted materials needed in units for April? 71,600 units 39,200 units 57,600 units. 56,000 units 54,800 units 25...
Question 31 2.5 pts Zhang Industries sells a product for $700 per unit. Unit sales for May were 400, and each month's unit sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales. Compute the budgeted selling expense for the manager for the month ended June 30. $8,600. $11,652. $8,652. $5,768. $8,768. 2.5 pts Question 32 MacBook Air Question 30 2.5 pts Zhang Industries sells a...
3. Prepare a contribution margin income statement based on the budgeted figures for next year. In a column next to the income statement, show the percentages based on sales for sales, total variable cost, and total contribution margin. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement. Head-First Company Contribution Margin Income Statement For the Coming Year Percent of Sales Refer to the list below for the exact wording of text...
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