Mike Tackett, manager of the Troopers Cafe, hos asked for your assistance preparing the monthlybudget fer January 20X8, He provides you with the prior lanuary actuls as fallows:Sales$100,400Expenses:Labor (F12,000Labor (VI18,000Cost of sales IV) 36,000Supplies IV)3200Encrgy (V)2620Promotion (V)Maintenance (F) 2.000Maintenance (V) 1.200Property tawes (F) 800Depreciation (F) 10001.300Rent IF)850Insurance (F)625Subtotal72.595Net income$ 20.005Assume for 20X3 sakes are expected to increase by 10 percent, fined custs will increase by s percent,ard variable costs will remain at the same percentage of sa es as eperienced in the prior January.Prepare the budget for January 20X8.

Budget: It is the statement showing the estimates of the sales, production, purchase activities for…

Answered: Mike Tackett, manager of the Troopers…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 12EA: Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the...

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Similar questions

Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for January using this data: in December through February, it purchased $22,000, $25,000, and $23,000 respectively.
Unearned Sales Revenue Brand Landscaping offers a promotion where a customers lawn will be mowed 20 times if the customer pays $700 in advance. Required: Prepare the journal entry to record (1) the customers' prepayment of S700 and (2) Brands mowing of the lawn one time.
Unearned Sales Revenue Curtiss Carpet Cleaning normally charges $90 to clean one room of carpeting. During the holiday season, Curtis offers a promotion to clean the customers carpet 10 times at a discounted rate if the customer pays $600 in advance. Required: Make the journal entry to record the following transactions. 1. A customers prepayment of $600 2. Curtiss cleaning of the carpet one time
tool assembly Company pays Virginia's alieenorte March wages.Calculak fay it he 545 Assembled one week pay Per chit (-200 201-400 ovel
Use the table mentioned below and calculate the average monthly amount of each 3 drivers. Number of Machine Hours Purchase Orders Moves (Mhr) (PO) July 340 5400 250 Aug. 380 5200 300 Sept. 400 5800 450 Oct. 500 6200 380 Nov. 480 6000 340 Dec. 420 5600 200 Total 2520 34200 1920
i need journal entries please!
Please explain why it is the right answer.
The following represents the financial information for Plaza Plastics for May and June: June $636,000 Sales revenue Costs Scrap Process inspection Quality training Product testing equipment Field testing Warranty repairs Rework Preventive maintenance Legal expense for warranty claims Materials inspection Required A Required B Prevention May $ 843,000 % $ 2,160 3,040 23,940 Required: a. Classify these items into Prevention, Appraisal, Internal failure, or External failure costs. b. Calculate the ratio of the prevention, appraisal, internal failure, and external failure costs to sales for May and June. June 5,340 8,580 3,540 Complete this question by entering your answers in the tabs below. % 19,940 16,380 7,980 11,460 Calculate the ratio of the prevention, appraisal, internal failure, and external failure costs to sales for May and June. Note: Round your percentage answers to 1 decimal place (i.e., .321 as 32.1). May $ 1,870 1,920 11,880 4,500 6,480 3,240 16,830 8,730 4,500 11,340
Stuart Computer Services, Incorporated, has been in business for six months. The following are basic operating data for that period: Service hours Revenue Operating costs July 118 $ 7,080 $ 4,260 August 132 $ 7,920 $ 5,230 Variable cost Fixed cost Month per hour per month September 262 $ 15,720 $ 7,160 Complete this question by entering your answers in the tabs below. October 426 $ 25,560 $ 11,160 December 328 $ 19,680 $ 10,560
Q2: According to the December payroll register ABC Co's working hours for each cost center are as follows: Overtime Working Hour 1100 h. Department Nomal Working TIT Number of Working Days 22 days 22 days 22 days 22 days Workers 25 15 Hour Knitting Coloring Generator Infirmary 4.400 h. 2.640 h. 330 h. 880 h. 10 1.760 h. ABC Co's normal working hours is 8 hours in a day and normal rate is 10 TL. Overtime rate is up to 9 hours normal rate, over 9 hours in a day is 12 TL. Employer's Share of Social Security Premium is TL 3.872 TL, Employee's Social Security Premium is TL 2.400 and income tax is TL 3.900. The Employer's Share of Social Security Premium will be allocated on the base of nomal working hour. Required:Detemine the direct and indirect labor cost and allocate the labor costto each cost center.
Robin Company has the following balances for the current month $24,000 $36,800 $19,200 $ 1,800 $ 9,600 $14,400 $ 6,400 Direct aterials osed Direct labor Sales salaries Indirect labor Prodaction manager's salary Marketing costs Pactory lease Whatls Robin'stolal manufacturing cost? Mutle Choice 0 $15.200 $81,600 $33.500
Complete the following table: End-of-month commission Commission Employee Total sales Draw rate received Sanders %24 294,000 6 % $ 7,800 二es raw < Prev 5 of 16 Next cation

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