HELP!! Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,500 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales. Costs Direct materials Direct labor Sales staff commissions Depreciation Machinery Supervisory salaries Depreciation Office equipment Income PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Shipping Sales staff salaries (fixed annual amount) 250,000 Administrative salaries 474,000 Variable Amount per Unit $ 3,100,000 Variable costs Fixed costs 1,007,500 232,500 46,500 300,000 205,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. prepare flexible budgets at sales volumes of 14,500 and 16,500 units. 232,500 197,000 $ 155,000 Flexible Budget Flexible Budget for: Total Fixed Cost Units Sales of 14,500 Unit Sales of 16,500 3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted
HELP!! Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,500 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales. Costs Direct materials Direct labor Sales staff commissions Depreciation Machinery Supervisory salaries Depreciation Office equipment Income PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Shipping Sales staff salaries (fixed annual amount) 250,000 Administrative salaries 474,000 Variable Amount per Unit $ 3,100,000 Variable costs Fixed costs 1,007,500 232,500 46,500 300,000 205,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. prepare flexible budgets at sales volumes of 14,500 and 16,500 units. 232,500 197,000 $ 155,000 Flexible Budget Flexible Budget for: Total Fixed Cost Units Sales of 14,500 Unit Sales of 16,500 3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,500 units.
PHOENIX COMPANY
Fixed Budget
For Year Ended December 31
Sales.
Costs
Direct materials
Direct labor
Sales staff commissions
Depreciation Machinery
Supervisory salaries
Depreciation Office equipment
Income
PHOENIX COMPANY
Flexible Budgets
For Year Ended December 31
Shipping
Sales staff salaries (fixed annual amount) 250,000
Administrative salaries
474,000
Variable Amount per Unit
Variable costs
Fixed costs
$ 3,100,000
PHOENIX COMPANY
1,007,500
Required:
1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units.
prepare flexible budgets at sales volumes of 14,500 and 16,500 units.
Budgeted Income Statement
232,500
For Year Ended December 31
46,500
Sales (in units)
300,000
205,000
232,500
197,000
3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted
income statement if 18,500 units are sold.
$ 155,000
The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted
income statement if 18,500 units are sold.
Flexible Budget Flexible Budget for:
Total Fixed Cost Units Sales of 14,500 Unit Sales of 16,500
18,500
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