Mike Tackett, manager of the Troopers Cafe, hos asked for your assistance preparing the monthly budget fer January 20X8, He provides you with the prior lanuary actuls as fallows: Sales $100,400 Expenses: Labor (F 12,000 Labor (VI 18,000 Cost of sales IV) 36,000 Supplies IV) 3200 Encrgy (V) 2620 Promotion (V) Maintenance (F) 2.000 Maintenance (V) 1.200 Property tawes (F) 800 Depreciation (F) 1000 1.300 Rent IF) 850 Insurance (F) 625 Subtotal 72.595 Net income $ 20.005 Assume 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.
Mike Tackett, manager of the Troopers Cafe, hos asked for your assistance preparing the monthly budget fer January 20X8, He provides you with the prior lanuary actuls as fallows: Sales $100,400 Expenses: Labor (F 12,000 Labor (VI 18,000 Cost of sales IV) 36,000 Supplies IV) 3200 Encrgy (V) 2620 Promotion (V) Maintenance (F) 2.000 Maintenance (V) 1.200 Property tawes (F) 800 Depreciation (F) 1000 1.300 Rent IF) 850 Insurance (F) 625 Subtotal 72.595 Net income $ 20.005 Assume 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Mike Tackett, manager of the Troopers Cafe, hos asked for your assistance preparing the monthly
budget fer January 20X8, He provides you with the prior lanuary actuls as fallows:
Sales
$100,400
Expenses:
Labor (F
12,000
Labor (VI
18,000
Cost of sales IV) 36,000
Supplies IV)
3200
Encrgy (V)
2620
Promotion (V)
Maintenance (F) 2.000
Maintenance (V) 1.200
Property tawes (F) 800
Depreciation (F) 1000
1.300
Rent IF)
850
Insurance (F)
625
Subtotal
72.595
Net income
$ 20.005
Assume 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.
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