Please do not give solution in image format thanku Tempo Company's fixed budget (based on sales of 14,000 units) folllows.Sales (14,000 unitsCostsDirect materialsDirect laborIndirect materialsSupervisor salarySales commissionsShippingInsuranceOffice rentFixed BudgetAdministrative salariesDepreciation-office equipmentIncome$218 per unit)3,052,000322,000602,000378,000122,00098,000210,000172,000142,000112,000122,000772,0001. Compute total variable cost per unit.2. Compute total fixed costs.3. Prepare a flexible budget at activity levels of 12,000 units and 16,000 units. Required 1 Required 2 Required 3Compute total variable cost per unit.Total variable cost per unitRequired 1 Required 2Compute total fixed costs.Total fixed costsComplete this question by entering your answers in the tabs below.SalesVarble costsDirect materialsDIndirectesSales commissionsShopingRequired 1 RequireRequired 3Prepare a flexible budget at activity levels of 12,000 units and 16,000 unitsTal variable costsContadon marginFood coSuper salaryAdministration salaDepreciation Office equipmentInsuranceRequired 3Total fled costscameRequired< Required 1TEMPO COMPANYVariable Amount Total Fixedper UnitCast214.00Required 20.00Required 2 >0$Flexible Budget forUnits Sales Unit Sales ofof 12.00016.000******Required 3 >05

1. Variable Cost - Variable Costs are those costs that vary according to the units sold.2. Fixed…

Tempo Company's fixed budget (based on sales of 14,000 units) folllows. Fixed Budget Sales (14,000 units $218 per unit) Costs Direct materials Direct labor Indirect materials Supervisor salary Sales commissions Shipping Administrative salaries Depreciation-Office equipment Insurance Office rent Income 3,052,000 322,000 602,000 378,000 122,000 98,000 210,000 172,000 142,000 112,000 122,000 772,000 1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 12,000 units and 16,000 units

Tempo Company's fixed budget (based on sales of 14,000 units) folllows. Fixed Budget Sales (14,000 units $218 per unit) Costs Direct materials Direct labor Indirect materials Supervisor salary Sales commissions Shipping Administrative salaries Depreciation-Office equipment Insurance Office rent Income 3,052,000 322,000 602,000 378,000 122,000 98,000 210,000 172,000 142,000 112,000 122,000 772,000 1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 12,000 units and 16,000 units

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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Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1Quarter 2Sales$248,470$251,539Direct material purchases120,295128,832Direct labor76,55374,289Manufacturing overhead26,00024,400Selling and administration expenses33,50033,500Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers230,524220,116Cash payments for purchases114,345118,346 Additional data:Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank. Required: a) Use this information to prepare a cash budget for the first two quarters of the year. bi) Briefly comment on Picta Company’s expected cashflow position in the first two quarters of the year.
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