Marketing Expense BudgetTimothy Donaghy has developed a unique formula for growing hair. His proprietary lotion, used regularly for 45 days, will grow hairvia the telephone and Internet.in bald spots (with varying degrees of success). Timothy calls his lotion Hair-Again and is sellingHis major form of marketing is through 15-minute infomercials and Internet advertising. Timothy sells each 16-ounce bottle of Hair-Again for $15 and pays a commission of 3 percent of sales to telephone operators who field the 1-800 phone calls from potentialcustomers. Fixed marketing expenses for each quarter of the coming year include:Internet banner ads$7,500Telephone operator time4,000Travel2,000In addition, early next year Timothy intends to film and show infomercials on television. He expects the cost to be $12,000 inquarters 1 and 2, and that the cost will rise to $24,000 in each of quarters 3 and 4. Timothy expects the following unit sales of Hair-Again:Quarter 15,000Quarter 215,000Quarter 340,000Quarter 435,000Required:1. Construct a marketing expense budget for Hair-Again for the coming year. Show total amounts by quarter and in total for theyear. If required, round your answers to two decimal places.Hair-AgainMarketing Expense BudgetFor the Year Ended December 31TotalQuarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 435,000Required:1. Construct a marketing expense budget for Hair-Again for the coming year. Show total amounts by quarter and in total for theyear. If required, round your answers to two decimal places.Hair-AgainMarketing Expense BudgetFor the Year Ended December 31Quarter 1Quarter 2 Quarter 3 Quarter 4TotalTotal variable expenseFixed marketing expense:Total fixed expenseTotal marketing expense2. What if the cost of internet ads rises to $16,000 in Quarters 2 through 4? How would that affect variable marketing expense?Fixed marketing expense? Total marketing expense? If no effect, enter "0" and select "no impact".Variable marketing expenseFixed marketing expenseTotal marketing expense

Budgets are the forecasts or estimates that are made for future period of time. It will consists of…

Answered: 1. Construct a marketing expense budget…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cash Receipts Budget and Accounts Receivable Aging Schedule Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales: Quarter 1 $4,760,000 Quarter 2 5,620,000 Quarter 3 3,060,000 Quarter 4 7,720,000 In Shalimar's experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in the quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter after the sale. The remaining 3 percent are never collected. Total sales for the third quarter of the current year are $5,310,000 and for the fourth quarter of the current year are $7,350,000. Required: 1. Calculate cash sales and credit sales expected in the last two quarters of the current year, and in each quarter of next year. Quarter Cash Sales Credit Sales 3, current year 4, current year 1, next year 2, next year 3. next vear 4, next year 2. Construct a cash receipts budget for…
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Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is now planning raw material needs for the second quarter. Sales of the All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 16,400 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 28,700 units. b. The raw materials inventory on hand at the end of each month must be equal to 20% of the following month's production needs for raw materials. The raw materials inventory on March 31 for XL 12 is budgeted to be 98,800 components. c. The company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: April May June July…
Subject: acounting
Perez Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Perez expects sales in January year 1 to total $210,000 and to increase 20 percent per month in February and March. All sales are on account. Perez expects to collect 68 percent of accounts receivable in the month of sale, 24 percent in the month following the sale, and 8 percent in the second month following the sale. Required Prepare a sales budget for the first quarter of year 1. Determine the amount of sales revenue Perez will report on the year 1 first quarterly pro forma income statement. Prepare a cash receipts schedule for the first quarter of year 1. Determine the amount of accounts receivable as of March 31, year 1. Complete this question by entering your answers in the tabs below. Prepare a sales budget for the first quarter of year 1.
5 please follow instructions and show work
(J) please answer ASap... Question 1 The following table presents selected information for Superior Flooring's monthly production budgets for the coming year. Superior's inventory policy is to have ending inventory equal to 10% of the next month's sales. What is the beginning inventory in June? A. 350 B. 310 C. 250 D. 340 Question 2 Which of the following statements is true? A. A budget reconciliation report shows the difference between actual profit and budgeted profit and does not show the other variances. B. Activity-based costing is not used to evaluate customer profitability. C. Sales quantity (budgeted sales volume vs. actual sales volume) is the only item which differs between the master budget and the flexible budget. D. Comparing the flexible budget to the as-if budget isolates a change in input price (e.g. budgeted input price vs. actual input price). Question 3 Which of the following is not a benefit of budgeting? A. It reduces the need for analysis with regard to company…
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Can you show how you got the numbers for question 6? Can you show me how to prepare the following: Prepare a selling and administrative expenses budget for January Prepare a budgeted income statement for January

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