Flexible Budget for Selling and Administrative Expenses for a Service Company Morningside Technologies Inc. uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 16% of sales Miscellaneous administrative expense $1,900 per month plus 2% of sales office salaries expense $18,000 per month Customer support expenses 12,700 plus 3% of sales Research and development expense 4,800 per month Prepare a flexible selling and administrative expenses budget for April for sales volumes of $120,000, $150,000, and $180,000. Enter all amounts as positive numbers. Morningside Technologies Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending April 30 Total sales Variable cost Sales commissions Advertising expense Miscellaneous administrati $120,000 $150,000 $100,000 000 000 8

Flexible Budget for Selling and Administrative Expenses for a Service Company Morningside Technologies Inc. uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 16% of sales Miscellaneous administrative expense $1,900 per month plus 2% of sales office salaries expense $18,000 per month Customer support expenses 12,700 plus 3% of sales Research and development expense 4,800 per month Prepare a flexible selling and administrative expenses budget for April for sales volumes of $120,000, $150,000, and $180,000. Enter all amounts as positive numbers. Morningside Technologies Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending April 30 Total sales Variable cost Sales commissions Advertising expense Miscellaneous administrati $120,000 $150,000 $100,000 000 000 8

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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How do I prepare the selling and administrative expense budget for the quarter ended March 31, 20X1?
Prepare a monthly flexible selling expense budget for Podism Company for sales volumes of $270,000, $350,000, and $480,000, based on the following data: Sales commissions 7% of sales Sales manager's salary $62,000 per month Advertising expense $70,000 per month Shipping expense 2% of sales Miscellaneous selling expense $2,500 per month plus 1/2% of sales Podism Company Monthly Selling Expense Budget Sales volume $270,000 $350,000 $480,000 Variable expense: Sales commissions х X Shipping expense X Miscellaneous selling expense Total variable expense Fixed expense: Sales manager's salary x $ Advertising expense X Miscellaneous selling expense Total fixed expense %$4 Total selling expense $ X
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Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc. uses flexible budgets that are based on the following data: Sales commissions 15% of sales Advertising expense 18% of sales Miscellaneous administrative expense $9,000 per month plus 12% of sales Office salaries expense $29,000 per month Customer support expenses $12,000 per month plus 20% of sales Research and development expense $32,000 per month Prepare a flexible selling and administrative expenses budget for October for sales volumes of $400,000, $500,000, and $600,000. (Use Exhibit 5 as a model.) Digital Solutions Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending October 31 Total sales $400,000 $500,000 $600,000 Variable cost: $ $ $ Total variable cost $ $ $ Fixed cost: $ $ $ Total fixed cost $ $ $ Total selling and administrative…
Flexible Budget for Selling and Administrative Expenses for a Service Company Morningside Technologies Inc. uses flexible budgets that are based on the following data: Sales commissions 6% of sales Advertising expense 20% of sales Miscellaneous administrative expense $1,700 per month plus 1% of sales Office salaries expense $16,000 per month Customer support expenses $2,350 plus 2% of sales Research and development expense 3,150 per month Prepare a flexible selling and administrative expenses budget for April for sales volumes of $105,000, $130,000, and $160,000. Enter all amounts as positive numbers. Morningside Technologies Inc.Flexible Selling and Administrative Expenses BudgetFor the Month Ending April 30 Total sales $105,000 $130,000 $160,000 Variable cost: Sales commissions $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Advertising expense fill in the blank 4 fill in the blank 5 fill in the blank 6 Miscellaneous administrative…
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Flexible Budget for Selling and Administrative Expenses Fuller Enterprises uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 20% of sales Customer support expense $2,150 plus 4% of sales Office salaries expense $14,000 per month Miscellaneous administrative expense $2,600 plus 3% of sales Research and development expense $1,500 per month Prepare a flexible selling and administrative expenses budget for July for sales volumes of $95,000, $120,000, and $145,000. (Use Exhibit 5 as a model.) Enter all amounts as positive numbers. FULLER ENTERPRISES Flexible Selling and Administrative Expenses Budget For the Month Ending July 31 Total sales $95,000 $120,000 $145,000 Variable cost: $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 fill in the blank 6 fill in the blank 7 fill in the blank 8 fill in the blank 10 fill in the blank 11 fill in the blank 12 fill in the blank…
Flexible budget for selling and administrative expenses for a service company Digital Solutions Inc. uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous administrative expense Office salaries expense Customer support expenses Research and development expense 14% of sales 18% of sales $5,500 per month plus 12% of sales $30,000 per month $12,000 per month plus 20% of sales $32,000 per month Prepare a flexible selling and administrative expenses budget for October for sales volumes of $400,000, $500,000, and $600,000. (Use Exhibit 4 as a model.) Digital Solutions Inc. Flexible Selling and Administrative Expenses Budget Line Item Description For the Month Ending October 31 Amount $400,000 Amount Amount $500,000 $600,000 Total sales Variable cost: Sales commissions 56,000 70,000 Advertising expense 72,000 90,000 Miscellaneous administrative expense 48,000 60,000 Customer support expenses 80,000 100,000 Total variable cost 256,000…