Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Total Units Unit Amount per Fixed Sales of Sales of Unit Cost 14,100 16,100 $ $ $ 210.00 2,961,000 3,381,000 Administrative salaries Depreciation-Machinery Depreciation-Office equipment Sales staff salaries Supervisory salaries Total fixed costs Income 4.00 15.00 56,400 64,400 211,500 241,500 19.00 $ 110.00 267,900 305,900 1,551,000 1,771,000 295,000 295,000 295,000 $ $ $ 295,000 295,000 295,000 $ $ 48,550 268,550 < Prev
Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Total Units Unit Amount per Fixed Sales of Sales of Unit Cost 14,100 16,100 $ $ $ 210.00 2,961,000 3,381,000 Administrative salaries Depreciation-Machinery Depreciation-Office equipment Sales staff salaries Supervisory salaries Total fixed costs Income 4.00 15.00 56,400 64,400 211,500 241,500 19.00 $ 110.00 267,900 305,900 1,551,000 1,771,000 295,000 295,000 295,000 $ $ $ 295,000 295,000 295,000 $ $ 48,550 268,550 < Prev
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 4E: Prepare a cost of goods sold budget for the Crest Hills Manufacturing Co. for the year ended...
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Question
Transcribed Image Text:Graded HW i
Fixed Budget
For Year Ended December 31
$
Sales
3,171,000
Costs
Direct materials
996,600
Direct labor
226,500
Sales staff commissions
60,400
Depreciation-Machinery
295,000
Supervisory salaries
203,000
Shipping
226,500
Sales staff salaries (fixed annual
250,000
amount)
Administrative salaries
556,450
Depreciation-Office equipment
198,000
Income
$ 158,550
Saved
Required:
1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units.
3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a
simple budgeted income statement if 18,100 units are sold.
Complete this question by entering your answers in the tabs below.
Req 1
Req 3
and 2
Prepare flexible budgets at sales volumes of 14,100 and 16,100 units.
Sales
Variable costs
Direct materials
Direct labor
Sales staff commissions
Shipping
Total variable costs
Contribution margin
Fixed costs
PHOENIX COMPANY
Flexible Budgets
For Year Ended December 31
Flexible Budget
Flexible Budget
for:
Variable
Total
Units
Unit
Amount per
Fixed
Sales of Sales of
Unit
Cost
14,100
16,100
$
$
$ 210.00
2,961,000 3,381,000
Administrative salaries
Depreciation-Machinery
Depreciation-Office equipment
Sales staff salaries
Supervisory salaries
Total fixed costs
Income
4.00
15.00
56,400 64,400
211,500 241,500
19.00
$ 110.00
267,900 305,900
1,551,000 1,771,000
295,000 295,000 295,000
$
$
$
295,000
295,000
295,000
$
$ 48,550
268,550
< Prev
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