According to its original plan, Finch Consulting Services Company plans to charge its customers for service at $128 per hour. The company president expects consulting services provided to customers to reach 48,000 hours at that rate. The marketing manager, however, argues that actual results may range from 42,000 hours to 54,000 hours because of market uncertainty. Finch's standard variable cost is $47 per hour, and its standard fixed cost is $1,390,000. Required Develop flexible budgets based on the assumptions of service levels at 42,000 hours, 48,000 hours, and 54,000 hours. Flexible Budget Flexible Budget Flexible Budget 48,000 Hours 42,000 Hours 54,000 Hours tes

According to its original plan, Finch Consulting Services Company plans to charge its customers for service at $128 per hour. The company president expects consulting services provided to customers to reach 48,000 hours at that rate. The marketing manager, however, argues that actual results may range from 42,000 hours to 54,000 hours because of market uncertainty. Finch's standard variable cost is $47 per hour, and its standard fixed cost is $1,390,000. Required Develop flexible budgets based on the assumptions of service levels at 42,000 hours, 48,000 hours, and 54,000 hours. Flexible Budget Flexible Budget Flexible Budget 48,000 Hours 42,000 Hours 54,000 Hours tes

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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Flounder Possible Inc. (FP) is a manufacturer of toaster ovens. To improve control over operations, the president of FP wants to begin using a flexible budgeting system, rather than using only the current master budget. The following data are available for FP's expected costs at production levels of 81,000, 90,000, and 99,000 units. Variable costs Manufacturing $5 per unit Administrative $3 per unit Selling $3 per unit Fixed costs Manufacturing $144,000 Administrative $72,000
The company just hired a new marketing manager who insists unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Year 2 Quarter Year 3 Quarter Data 1 2 3 4 1 2 Budgeted unit sales 45,000 65,000 105,000 60,000 90,000 100,000 Selling price per unit $7 What are the total expected cash disbursements for raw materials for the year under this revised budget?
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Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month's budget appear below: Selling price per unit Variable expense per unit Fixed expense per month Unit sales per month $ 1 Margin of safety (in dollars) 2. Margin of safety percentage 27 $ 12 $ 12,300 978 Required: 1. What is the company's margin of safety? (Do not round intermediate calculations.) 2. What is the company's margin of safety as a percentage of its sales? (Round your percentage answer to 2 decimal places (i.e. 1234 should be entered as 12.34).)
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According to its original plan, Munoz Consulting Services Company plans to charge its customers for service at $125 per hour. The company president expects consulting services provided to customers to reach 55,000 hours at that rate. The marketing manager, however, argues that actual results may range from 49,000 hours to 61,000 hours because of market uncertainty. Munoz's standard variable cost is $46 per hour, and its standard fixed cost is $1,410,000. Required Develop flexible budgets based on the assumptions of service levels at 49,000 hours, 55,000 hours, and 61,000 hours.
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The company just hired a new marketing manager who insists unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Year 2 Quarter Year 3 Quarter Data 1 2 3 4 1 2 Budgeted unit sales 45,000 65,000 105,000 60,000 90,000 100,000 Selling price per unit $7 What is the total cost of raw materials to be purchased for the year under this revised budget?