Fundamental Accounting Principles
24th Edition
ISBN: 9781259916960
Author: Wild, John J., Shaw, Ken W.
Publisher: Mcgraw-hill Education,
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Chapter 23, Problem 3E
Exercise 23-2
Preparing flexible budgets
P1
Tempo Company's fixed budget (based on sales of 7,000 units) for the first quarter of calendar year 2017 reveals the following. Prepare flexible budgets following the format of Exhibit 23.3 that show variable costs per unit, fixed costs, and three different flexible budgets for sales volumes of 6,000, 7,000, and 8,000 units.
EXHIBIT 23.3 Flexible Budgets (prepared Before the Period)
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Question Content Area
Sales and Production Budgets
Vibrant Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget:
Rumble
Thunder
Estimated inventory (units), June 1
244
66
Desired inventory (units), June 30
280
57
Expected sales volume (units):
North Region
2,350
2,650
South Region
5,650
4,900
Unit sales price
$140
$195
Question Content Area
a. Prepare a sales budget.
Vibrant Inc.Sales BudgetFor the Month Ending June 30
Product and Area
UnitSalesVolume
UnitSellingPrice
TotalSales
Model Rumble:
North Region
fill in the blank 77b7680b2044038_1
$fill in the blank 77b7680b2044038_2
$fill in the blank 77b7680b2044038_3
South Region
fill in the blank 77b7680b2044038_4
fill in the blank 77b7680b2044038_5
fill in the blank 77b7680b2044038_6
Total
fill in the blank 77b7680b2044038_7
$fill in the blank…
Question 7
Landon Inc. projected sales of 31,000 personal journals for 20Y6. The estimated January 1, 20Y6, inventory is 2,200 units, and the desired December 31, 20Y6, inventory is 3,000 units.
What is the budgeted production (in units) for 20Y6?fill in the blank 1 units
Chapter 23 Solutions
Fundamental Accounting Principles
Ch. 23 - Prob. 1DQCh. 23 - Prob. 2DQCh. 23 - Prob. 3DQCh. 23 - Prob. 4DQCh. 23 - Prob. 5DQCh. 23 - Prob. 6DQCh. 23 - Prob. 7DQCh. 23 - Prob. 8DQCh. 23 - Prob. 9DQCh. 23 - Prob. 10DQ
Ch. 23 - Prob. 11DQCh. 23 - Prob. 12DQCh. 23 - Prob. 13DQCh. 23 - How can the manager of advertising sales at Google...Ch. 23 - Prob. 15DQCh. 23 - Prob. 16DQCh. 23 - Is it possible to evaluate a cost center’s...Ch. 23 - Prob. 18DQCh. 23 - Prob. 1QSCh. 23 - Prob. 2QSCh. 23 - Prob. 3QSCh. 23 - Prob. 4QSCh. 23 - Prob. 5QSCh. 23 - Prob. 6QSCh. 23 - Prob. 7QSCh. 23 - Prob. 8QSCh. 23 - Prob. 9QSCh. 23 - Prob. 10QSCh. 23 - Prob. 11QSCh. 23 - Prob. 12QSCh. 23 - Prob. 13QSCh. 23 - Prob. 14QSCh. 23 - Volume variance P3 Refer to information in QS...Ch. 23 - Prob. 16QSCh. 23 - Prob. 17QSCh. 23 - Prob. 18QSCh. 23 - Prob. 19QSCh. 23 - Prob. 20QSCh. 23 - Prob. 21QSCh. 23 - Prob. 22QSCh. 23 - Prob. 23QSCh. 23 - Prob. 24QSCh. 23 - Exercise 23-1 Management by exception C1 Resset...Ch. 23 - Prob. 2ECh. 23 - Exercise 23-2 Preparing flexible budgets P1 Tempo...Ch. 23 - Prob. 4ECh. 23 - Prob. 5ECh. 23 - Prob. 6ECh. 23 - Prob. 7ECh. 23 - Prob. 8ECh. 23 - Prob. 9ECh. 23 - Prob. 10ECh. 23 - Prob. 11ECh. 23 - Prob. 12ECh. 23 - Exercise 23-13 Computing and interpreting...Ch. 23 - Prob. 14ECh. 23 - Exercise 23-15
Direct materials and direct labor...Ch. 23 - Prob. 16ECh. 23 - Prob. 17ECh. 23 - Exercise 23-18A Detailed overhead variances P5...Ch. 23 - Prob. 19ECh. 23 - Prob. 20ECh. 23 - Prob. 21ECh. 23 - Prob. 22ECh. 23 - Prob. 23ECh. 23 - Prob. 1APSACh. 23 - Prob. 2APSACh. 23 - Prob. 3APSACh. 23 - Prob. 4APSACh. 23 - Prob. 5APSACh. 23 - Prob. 6APSACh. 23 - Prob. 2BPSBCh. 23 - Prob. 3BPSBCh. 23 - Prob. 4BPSBCh. 23 - Prob. 5BPSBCh. 23 - Prob. 6BPSBCh. 23 - Prob. 23SPCh. 23 - Flexible budgets and standard costs emphasize the...Ch. 23 - Prob. 2AACh. 23 - Prob. 3AACh. 23 - Prob. 1BTNCh. 23 - Prob. 2BTNCh. 23 - Prob. 3BTNCh. 23 - Prob. 4BTNCh. 23 - Prob. 5BTNCh. 23 - Training employees to use standard amounts of...
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- Preparing a flexible budget Use the information in Figure 7-12 of the chapter. Required: Prepare flexible budgets for the production and sale of 29,000 units and 31,000 units, respectively.arrow_forwardForecast sales volume and sales budget For 2016, Raphael Frame Company prepared the .sales budget that follows. At the end of December 2016, the following unit sales data were reported for the year. Unit Sales 8" 10" Frame 12" 16" Frame East 8,755 3,686 Central 6,510 3,090 West 12,348 5,616 For the year ending December 31, 2017, unit sales are expected to follow die patterns established during the year ending December 31, 2016. The unit selling price for the 8" 10" frame is expected to increase to 17 and die unit selling price for die 12" 16" frame is expected to increase to 32, effective January 1, 2017. Instructions 1. Compute the increase or decrease of actual unit sales for the year ended December 31, 2016, over budget. Place your answers in a columnar table with the following format: Unit Sales, Year Ended 2016 Increase (Decrease) Actual Over Budget Budget Actual Sales Amount Percent 8" 10" Frame: East Central West 12" 16" Frame: East Central West 2. Assuming that the increase or decrease in actual sales to budget indicated in part (1) is to continue in 2017, compute the unit sales volume to be used for preparing the sales budget for the year ending December 31, 2017. Place your answers in a columnar table similar to that in part (1) but with the following column heads. Round budgeted units to the nearest unit. 2016 Actual Units Percentage Increase (Decrease) 2017 Budgeted Units (rounded) 3. Prepare a sales budget for the year ending December 31, 2017.arrow_forwardPlease do not give salutations in image format thankuharrow_forward
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