Mike Tackett, manager of the Troopers Café, has asked for your assistance preparing the monthlybudget for January 20X8. He provides you with the prior January actuals as follows:Sales$100.400Expenses:Labor (F)12,000Labor (V)18,000Cost of sales (V) 36,000Supplies (V)3.200Energy (V)2.620Promotion (V)1.300Maintenance (F) 2.000Maintenance (V) 1.200Property taxes (F) 800Depreciation (F) 1.000Rent (F)850Insurance (F)625Subtotal79.595Net income$20.805Assume for 20X8 sales are expected to increase by 10 percent, fixed costs will increase by 5 percent,and variable costs will remain at the same percentage of sales as experienced in the prior January.Prepare the budget for January 20X8.HOMEWORK HINT: Divide the prior January variable expenses by the prior January sales amount tocome up with the percentage of sales for each variable expense. DO NOT ROUND THEPERCENTAGEI Multiply that percentage by the January 2018 Budgeted Sales Amount (that youfigure out) to come up with the January 2018 Budgeted Variable Expense Amount.

Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Answered: Mike Tackett, manager of the Troopers…

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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Grohs Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During December, the kennel budgeted for 2,500 tenant-days, but its actual level of activity was 2,530 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting: Fixed Element per Month Variable element per tenant-day Revenue $ 0 $33.00 Wages and salaries $ 3,800 $ 7.90 Food and supplies 1,000 11.60 Facility expenses 8,600 2.20 Administrative expenses 6,200 0.20 Total expenses $19,600 $21.90 The net operating income in the planning budget for December would be closest to: Multiple Choice A. $8,150 B. $11,914 C. $8,483 D. $11,633
answer in text form please (without image),,,,,,,,,,,,,Answer all the rrquirements
A manager of one Indian restaurant with a take-away service wants to prepare a detailed budget for the next year. The following information is available from the monthly accounts. Calculate the fixed and variable cost elements using the high-low method. Month July August September October November December No. of deliveries 403 291 348 521 387 Total delivery cost (OMR) 662.70 561.90 613.20 627.60 768.90 648.30
Echo Amplifiers prepared the following sales budget for the first quarter of 2018: Jan. Feb. Mar. Units 900 1,300 1,400 Sales price $100 $100 $100 Budgeted sales $90,000 $130,000 $140,000 It also has this additional information related to its expenses: Direct material per unit $1.50 Direct labor per unit 2 Variable manufacturing overhead per hour 0.40 Fixed manufacturing overhead per month 3,000 Sales commissions per unit 16 Sales salaries per month 5,100 Delivery expense per unit 0.50 Factory utilities per month 4,000 Administrative salaries per month 20,000 Marketing expenses per month 7,000 Insurance expense per month 12,000 Depreciation expense per month 10,000 Prepare a sales and administrative expense budget for each month in the quarter ending March 31, 2018. Enter all amounts as positive numbers.
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If someone can help me quickly I will give a thumbs up!
Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 35.100 customers. but actually served 33.400 customers. The company uses the following revenue and cost formulas in its budgeting, where is the number of customers served Revenue: $3.60g Wages and salaries: $33,300+ $113g Supplies: $0.53q Insurance: $10,500 Miscellaneous expenses: $6,500 $0.31 The company reported the following actual results for February $ 121,000 $ 60,100 $ 14,500 $ 10,500 $ 18,200 Revenue Wages and salaris Supplies Insurance Miscellaneous expense Required: Prepare the company's flexible budget performance report for February. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le.. zero variance). Input all amounts as positive values.) Customer served Revenue Expenses: Wages and salaries Supplies Insurance Miscellaneous expense tal…
Preparing a Selling and Administrative Expenses Budget Fazel Company makes and sells paper products. In the coming year, Fazel expects total sales of $19,200,000. There is a 5% commission on sales. In addition, fixed expenses of the sales and administrative offices include the following: Salaries Utilities Office space $960,000 365,000 230,000 Advertising 1,200,000 Required: Prepare a selling and administrative expenses budget for Fazel Company for the coming year.
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Zilly Company budgets sales of $146,000 for June. Zilly pays a sales manager a monthly salary of $6,700 and a commission of 8% of that month's sales dollars. Prepare a selling expense budget for June, ZILLY CO. Selling Expense Budget June Budgeted sales Salary for sales manager Total selling expenses
subject:accounting

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