SELLING AND ADMINISTRATIVE EXPENSE BUDGET SELLING AND ADMINISTRATIVE For the year 2015, the following data are developed by Mariel Corporation for the purpose of preparing the selling and administrative expense: Sales 45,000 units P 10 Unit selling price Variable cost per unit of sale Sales commissions 5% Delivery expense Advertising Supplies 2% 10% 1% Fixed cost P 20,000 15,000| 10,000 Sales salaries Office salaries Depreciation expense Insurance 5,000 Utilities 7,500 Prepare a selling and administrative expense budget for the year 2015 *

SELLING AND ADMINISTRATIVE EXPENSE BUDGET SELLING AND ADMINISTRATIVE For the year 2015, the following data are developed by Mariel Corporation for the purpose of preparing the selling and administrative expense: Sales 45,000 units P 10 Unit selling price Variable cost per unit of sale Sales commissions 5% Delivery expense Advertising Supplies 2% 10% 1% Fixed cost P 20,000 15,000| 10,000 Sales salaries Office salaries Depreciation expense Insurance 5,000 Utilities 7,500 Prepare a selling and administrative expense budget for the year 2015 *

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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Benson Company has provided the following Year 2 data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense BENSON COMPANY Internal Income Statement for Year 2 Budget Required Prepare a budgeted and actual Income statement for Internal use. Sales Variable expenses: Product costs $504,000 186,000 46,000 3,300 16,500 23,400 1,900 700 Selling expenses Other expenses Contribution margin Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 8,600 Unfavorable 4,200 Favorable 2,300 Unfavorable 1,700 Unfavorable 310 Favorable 490 Favorable 190 Unfavorable 90 Favorable Actual
Using a flexible budgeting approach how do I prepare a performance report for the current department for September 2016, comparing actual overhead cost with budgeted overhead cost for 5700 hours. Separate overhead costs into variable and fix components and show the amounts of any variances between actual and budget in amounts.
( ces Nina Company prepared the following fixed budget for July using 7.780 units for budgeted sales. Actual sales were 7.480 units and actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs Depreciation Machinery Supervisor salary Insurance Depreciation-Office equipment Administrative salaries i Total fixed costa Income For Month Ended July 31 Sales Variable costs Direct matanals Direct labor indirect materials Sales commissions Total Variable Costs Contribution margin Find costs Depreciation Machinery Supervisory salary Insurance Depreciation Offenequere Administrative salaries Total Fed Costs Fixed Budget Incue Variable Amount per Total Fixed Unit Cost $ 100 |===== $ 70,860 42,040 10,420 7,680 31,900 $164,900 Fixed Budget (7,788 units) 5 778,000 Actual Results 272,300 116,700 31,120 85,540 505,700 $ 272,300 Prepare a flexible budget performance…
Crompton produces a product that sell at wholesale for 2.60 per unit. Budgeted production in both 2018 and 2019 was 3,000 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations: 2018, 2019 Units sold =2,500, 3,200 Units produced 3,000 3,000 Costs: Variable factory overhead per unit 0.65, 0.65 Fixed factory overhead 1,290, 1,290 Variable marketing per unit 0.80, 0.80 Fixed Selling and Administrative 650, 650 Compute variable costing operating income for the 2019.
The following dashboard shows information from a company's fixed budget for 12,000 units of production and sales, and actual results for 12,500 units of production and sales. Budgeted sales Actual sales Budgeted variable costs Actual variable costs Budgeted fixed costs $48,000 Actual fixed costs $46,000 Enter answers in the tabs below. Required 1 Required 2 $108,000 $137,500 Compute the flexible budget income at the actual production and sales level of 12,500 units. ------Flexible Budget------ ------Flexible Budget at ------ Variable Amount per Unit Total Fixed Cost 12,500 units Contribution margin $ 0 $ 0 0 $180,000 $195,000
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Jordan Company nas provided the following year data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs. Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense JORDAN COMPANY Internal Income Statement for Year 2 Budget Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin $ 519,000 202,000 Required Prepare a budgeted and actual income statement for Internal use. Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 49,000 3,200 16,000 24,000 1,400 688 8,200 Unfavorable 5,000 Favorable 2,200 Unfavorable 1,100 Unfavorable 290 Favorable 460 Favorable 140 Unfavorable 100 Favorable Actual
Winston Company had two products code named X and Y. The firm had the following budget for August: Product X $ 296,040 197,360 $ 98,680 50,000 Product Y $ 541,000 216,400 $324,600 108,000 $216,600 $ 50 $ 48,680 $ 120 Sales Variable Costs Contribution Margin Fixed costs Operating Income Selling Price per unit On September 1, the following actual operating results for August were reported: Product X $366,800 203,500 $ 163,300 58,500 $ 104,800 3,170 Sales Variable Costs Contribution Margin Fixed costs Operating Income Units Sold Product Y $ 546,800 224,500 $322,300 116,500 $ 205,800 9,850 Total industry volume for both products X and Y was estimated to be 138,500 units at the time of the budget. Actual industry volume for the period for products X and Y was 106,800 units. The contribution margin sales volume variance for Product X is: Multiple Choice $12,500 unfavorable. $15,800 favorable. $23,200 favorable. $23,200 unfavorable. Total $ 837, 040 413,760 $ 423,280 158,000 $ 265,280 $28,120…
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