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Problem #2-Flexible Budget-Selling &Admin Expense Only Static Budget Budget Results Variance Flex Actual Memo: Sales Selling...
Problem #2-Flexible Budget-Selling &Admin Expense Only Static Budget Budget Results Variance Flex...
Problem #2-Flexible Budget-Selling &Admin Expense Only Static Budget Budget Results Variance Flex Actual Memo: Sales Selling & Admin Expenses Variable Sales Commissions-8% of sales var Advertising Exp-3% of sales Selling Supplies Exp-1% of sales Office Supplies-2% of sales $ 3,000,000 3,738,00o $ 240,000 90,000 30,000 60,000 $ 420,000 $301,500 110,862 38,241 74,083 S 524,686 Total Variable Sell & Admin Exp Fixed Sales Salaries Sales Travel expense Advertising- fixed portion Administrative salaries Rent Exp Utilities/Phones/Internet Total Fixed Sell & Admin Exp...
Actual Results Flexible Budget Variance Flexible Budget Sales Volume Static Variance Budget Units 12,000 12,000 15,000...
Actual Results Flexible Budget Variance Flexible Budget Sales Volume Static Variance Budget Units 12,000 12,000 15,000 S Sales Revenue $ 2,52,000 12,000 | F | $ 2,40,000 60,000 $3,00,000 Less: Variable Expenses 84,000 12,000F 96,000 24,000 F S 1,20,000 Contribution margin $1,68,000 24,000 $1,44,000 36,000 U $1,80,000 S Less: Fixed Expenses $ 1,50,000 5,000 $1,45,000 None S 1,45,000 Operating Income / (loss) $ 18,000 19,000 FS -1,000 36,000 U S 35,000 Look at the two outside columns - how was...
Agent Blaze uses flexible budgets that are based on the following data: Sales commissions Advertising expense...
Agent Blaze uses flexible budgets that are based on the following data: Sales commissions Advertising expense 7% of sales 18% of sales $2,250 plus 4% of sales $15,000 per month Miscellaneous selling expense Office salaries expense Office supplies expense 5% of sales Miscellaneous administrative expense $1,600 per month plus 3% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $100,000, $125,000, and $150,000. (Use Exhibit 5 as a model.) Enter all amounts...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous selling expense Office salaries expense Office supplies expense Miscellaneous administrative expense Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $130,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers. 8% of sales 15% of sales $1,900 plus 3% of sales $13,000 per month 4% of sales...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions 6% of sales Advertising expense 15% of sales Miscellaneous selling expense $2,050 plus 3% of sales Office salaries expense $14,000 per month Office supplies expense 4% of sales Miscellaneous administrative expense $1,450 per month plus 2% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $90,000, $115,000, and $135,000. (Use Exhibit...
11. Chelsea Clinic's static budget, flexible budget and actual expense information for 2018 is listed below....
11. Chelsea Clinic's static budget, flexible budget and actual expense information for 2018 is listed below. To make the following problems easier I have summarized the following three financial statements side by side - static budget, flexible budget and actual results. Assumptions: Blue Cross Visits Highmark Visits Total Visits Static Budget 36,000 54,000 90,000 Flexible Budget 40,000 60,000 100,000 Actual Results 40,000 60,000 100,000 Revenues Blue Cross Highmark Total $ $ $ 900,000 $ 1.080.000 $ 1,980,000 $ 1,000,000 $...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 22% of sales Miscellaneous selling expense $2,500 plus 2% of sales Office salaries expense $17,000 per month Office supplies expense 3% of sales Miscellaneous administrative expense $1,750 per month plus 1% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $110,000, $140,000, and $165,000. (Use Exhibit...
Flexible budget for selling and administrative expenses for a service company Digital Solutions Inc. uses flexible...
Flexible budget for selling and administrative expenses for a service company Digital Solutions Inc. uses flexible An accounting device used to plan and control resources of operational departments and divisions.budgets that are based on the following data: Sales commissions 9% of sales Advertising expense 16% of sales Miscellaneous administrative expense $11,500 per month plus 3% of sales Office salaries expense $48,000 per month Customer support expenses $16,000 per month plus 33% of sales Research and development expense $79,000 per month...
Chelsea Clinic’s static budget, flexible budget and actual expense information for 2020 is listed below. Assumptions:...
Chelsea Clinic’s static budget, flexible budget and actual expense information for 2020 is listed below. Assumptions: Static Budget Flexible Budget Actual Results Blue Cross Visits 36,000 40,000 40,000 Highmark Visits 54,000 60,000 60,000 Total Visits 90,000 100,000 100,000 Revenues Blue Cross $ 900,000 $ 1,000,000 $ 1,120,000 Highmark $ 1,080,000 $ 1,200,000 $ 1,080,000 Total $ 1,980,000 $ 2,200,000 $ 2,200,000 Costs Variable: Labor $ 1,200,000 $ 1,333,333 $ ...
Flexible Budget for Selling and Administrative Expenses Fuller Enterprises uses flexible budgets that are based on...
Flexible Budget for Selling and Administrative Expenses Fuller Enterprises uses flexible budgets that are based on the following data: Sales commissions 5% of sales Advertising expense 25% of sales Customer support expense $2,700 plus 3% of sales Office salaries expense $18,000 per month Miscellaneous administrative expense $3,000 plus 2% of sales Research and development expense $1,900 per month Prepare a flexible selling and administrative expenses budget for July for sales volumes of $120,000, $150,000, and $180,000. (Use Exhibit 5 as...
Problem #2-Flexible Budget-Selling &Admin Expense Only Static Budget Budget Results Variance Flex Actual Memo: Sales Selling & Admin Expenses Variable Sales Commissions-8% of sales var Advertising Exp-3% of sales Selling Supplies Exp-1% of sales Office Supplies-2% of sales $ 3,000,000 3,738,00o $ 240,000 90,000 30,000 60,000 $ 420,000 $301,500 110,862 38,241 74,083 S 524,686 Total Variable Sell & Admin Exp Fixed Sales Salaries Sales Travel expense Advertising- fixed portion Administrative salaries Rent Exp Utilities/Phones/Internet Total Fixed Sell & Admin Exp...
Actual Results Flexible Budget Variance Flexible Budget Sales Volume Static Variance Budget Units 12,000 12,000 15,000 S Sales Revenue $ 2,52,000 12,000 | F | $ 2,40,000 60,000 $3,00,000 Less: Variable Expenses 84,000 12,000F 96,000 24,000 F S 1,20,000 Contribution margin $1,68,000 24,000 $1,44,000 36,000 U $1,80,000 S Less: Fixed Expenses $ 1,50,000 5,000 $1,45,000 None S 1,45,000 Operating Income / (loss) $ 18,000 19,000 FS -1,000 36,000 U S 35,000 Look at the two outside columns - how was...
Agent Blaze uses flexible budgets that are based on the following data: Sales commissions Advertising expense 7% of sales 18% of sales $2,250 plus 4% of sales $15,000 per month Miscellaneous selling expense Office salaries expense Office supplies expense 5% of sales Miscellaneous administrative expense $1,600 per month plus 3% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $100,000, $125,000, and $150,000. (Use Exhibit 5 as a model.) Enter all amounts...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous selling expense Office salaries expense Office supplies expense Miscellaneous administrative expense Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $130,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers. 8% of sales 15% of sales $1,900 plus 3% of sales $13,000 per month 4% of sales...
11. Chelsea Clinic's static budget, flexible budget and actual expense information for 2018 is listed below. To make the following problems easier I have summarized the following three financial statements side by side - static budget, flexible budget and actual results. Assumptions: Blue Cross Visits Highmark Visits Total Visits Static Budget 36,000 54,000 90,000 Flexible Budget 40,000 60,000 100,000 Actual Results 40,000 60,000 100,000 Revenues Blue Cross Highmark Total $ $ $ 900,000 $ 1.080.000 $ 1,980,000 $ 1,000,000 $...
Flexible Budget for Selling and Administrative Expenses Agent Blaze uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 22% of sales Miscellaneous selling expense $2,500 plus 2% of sales Office salaries expense $17,000 per month Office supplies expense 3% of sales Miscellaneous administrative expense $1,750 per month plus 1% of sales Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $110,000, $140,000, and $165,000. (Use Exhibit...
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