еВook Show Me How Print Item Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc. uses flexible budgets that are based on the following data: Sales commissions 8% of sales Advertising expense 15% of sales Miscellaneous administrative expense $10,000 per month plus 4% of sales Office salaries expense $50,000 per month Customer support expenses $20,000 per month plus 30% of sales Research and development expense $75,000 per month Prepare a flexible selling and administrative expenses budget for October for sales volumes of $500,000, $750,000, and $1,000,000. (Use Exhibit 5 as a model.) Digital Solutions Inc.
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A: Flexible budget is that budget estimates which change with change in level of activity
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Q: Flexible Budget for Selling and Administrative Expenses for a Service company Morningside…
A: A flexible budget is that budget which includes all the flexibility and change in the output. In…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions…
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A: Variable cost: It is the cost that changes with the change in level of activity. E.g., direct…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Morningside…
A: A flexible budget is prepared on the basis of the budgeted rate and on the basis of different…
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A: Variable FOH rate = Variable FOH / Direct labor hours Variable FOH rate = 40,000 / 20,000 Variable…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc.…
A: A flexible budget is one in which varying level of expenses are shown when volume of sales changes.…
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Q: Prepare a flexible selling and administrative expenses budget for October for sales volumes of…
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Q: Flexible budget for selling and administrative expenses for a service company Digital Solutions…
A: Workings:
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A: Sales commission = Total sales x 16% Advertising expense = Total sales x 12%
Q: Daybreak Technologies Inc. uses flexible budgets that are based on the following data: Sales…
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A: The selling and administrative expenses are the sum total of all the variable and fixed selling…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions…
A: The flexible budget is a dynamic budget which can be adjusted according to the changes in volume.…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc.…
A: Variable expenses are those expenses which changes with change in production or sale volume as the…
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A: Under flexible budget, variable cost changes with the volume of sales while the fixed cost remains…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions…
A: Here in this question, we are required to prepare flexible budget for different level of sales.…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc.…
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Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Daybreak Technologies…
A: Excel Formula :-
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- As sales manager, Joe Batista was given the following static budget report for selling expenses in the Clothing Department of Soria Company for the month of October. Sales in units Variable expenses Sales commissions Advertising expense Travel expense Free samples given out Total variable Fixed expenses Rent (a) Sales salaries Office salaries Depreciation-autos (sales staff) Total fixed Total expenses SORIA COMPANY Clothing Department Budget Report For the Month Ended October 31, 2022 Budget 8,000 $2,400 720 3,600 1,600 8,320 1,500 1,200 800 500 4,000 $12,320 Actual $2,600 850 10,000 2,000 Favorable 4,100 1,400 8,950 1,500 1,200 800 500 4,000 Difference $12,950 Favorable Unfavorable Neither Favorable nor Unfavorable $200 Unfavorable 130 Unfavorable 500 Unfavorable 200 Favorable 630 Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable $630…Integrated Excel: Preparing a Contribution Format Income Statement Using the High-Low Method Jay Corporation has provided data from a two-year period to aid in planning. The Controller has asked you to prepare a contribution format income statement. Budgeted information for Quarter 1 of 2024: Sales in units Sales price per unit After analyzing expenses, the company has determined the following cost patterns. Cost of Goods Sold (per unit) Sales Commissions (per dollar of sales). Administrative Salaries (per quarter) Rent Expense (per quarter) Depreciation Expense (per quarter) Shipping has been determined to be a mixed cost with the following total costs and units: 2022 Quarter 1 Quarter 2 Quarter 3 Quarter 4 2023 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Cost $ 67,000 $ 94,000 $ 89,800 $ 92,600 $ 72,500 $80,000 $ 84,000 $ 100,000 17,000 $ 48.00 Units 12,500 21,000 13,800 20,000 13,700 14,000 14,300 22,500 $29.00 9.50€ $ 45,000 $ 27,000 $ 36,000 Required: Use the data to answer the…me * CengageNOWv2 | Online teachin X eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%=&inprogress%-false еВook Show Me How E Print Item Production Budget Pasadena Candle Inc. projected sales of 800,000 candles for January. The estimated January 1 inventory is 35,000 units, and the desired January 31 inventory is 20,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Production Budget For the Month Ending January 31 Expected units to be sold Desired ending inventory, January 31 Total units available Estimated beginning inventory, January 1 Total units to be produced in January Feedback Check My VWork Remember to take into account expected units to be sold, desired units in ending inventory and estimated units in beginning inventory when calculating total units to be produced. Previous Next
- Show Me How Flexible Budget for Selling and Administrative Expenses for a Service Company Morningside Technologies Inc. uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous administrative expense Office salaries expense Customer support expenses Research and development expense ebook Total sales Variable cost Prepare a flexible selling and administrative expenses budget for April for sales volumes of $85,000, $105,000, and $130,000. Enter all amounts as positive numbers. Morningside Technologies Inc. Flexible Selling and Administrative Expenses Budget For the Month Ending April 30 Sales commissions Advertising expense Miscellaneous administrative expense Customer support expenses Total variable cost 8% of sales 18% of sales Fixed cost: Miscellaneous administrative expense Office salanes expense $1,350 per month plus 3% of sales $13,000 per month $1,900 plus 4% of sales 4,250 per month $85,000 $105,000 $130,000 100Chapter 3- Budgeting - Microsoft PowerPoint (Product Activation Failed) Slide Show Review View A A 三、证、请一机。 Aal IlA Text Direction- 4. A Shape Fill - pe AV- Aa Align Text - Shape Outline - M - Arrange Quick Styles- Convert to SmartArt- Shape Effects - Paragraph Drawing Exercise 2: Draw up a flexible budget for overhead expenses on the basis of the following data and determine the overhead rates at 70%, 80% and 90% plant capacity. At 80% Capacity OMR. Variable Overheads: Indirect labor 12,000 4,000 Stores including spares Semi-variable Overheads: Power (30% fixed, 70% variable) 20,000 Repairs and maintenance (60% fixed, 40% variable) 2,000 Fixed Overheads: 11,000 Depreciation 3,000 Insurance 10,000 Salaries 62,000 Total Overheads 1,24,000 hrs. Estimated direct labor hours W[The following information applies to the questions displayedbelow.]We discuss how to prepare the different component budgets of theoperating budget, including the sales, production, direct materials,direct labor, manufacturing overhead, cost of goods sold, andselling and administrative expense budgets. We also discuss howto use information from all of these operating budgets to prepare abudgeted income statement. Knowledge Check 04WellWheats, Inc. produces breakfast cereal and sells each box, or unit, for $7. The company has forecast production for the next three months as follows: July5,000 units, August 6,000 units, September 3,500 units. Monthly manufacturingoverhead is budgeted to be $20,000 plus $5 per unit produced. What isbudgeted manufacturing overhead for July?
- Howard Cooper, the president of Campbell Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 3. Standard rate and variable costs Service rate per hour $ 85.00 Labor cost 37.00 Overhead cost 7.10 Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative 3.80 $522,000 142,000 Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 45,000 hours of services in Year 3. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Campbell charges customers $80 per hour, the firm can achieve 50,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same…ezto.mheducation.com/ext/map/index.html?_con3Dcon&external_browser%3D0&launchUrl%3Dhttps%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-g hapter 18- Problems i Saved Help Save & Exit The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: 1 January February $235,000 March Sales $215,000 $258,000 Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. Skipped The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales 24 b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2…2. Flexible Budget for Selling and Administrative Expenses for a Service Company Morningside Technologies Inc. uses flexible budgets that are based on the following data:
- * CengageNOWv2 | Online teachin x ome keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еBok Show Me How Print Item Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough ca December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) $9,250 Purchase season football tickets in September 160 Additional entertainment for each month: 250 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 600 Pay for food each month. 550 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,200 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a…Main,do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Using the following budgeted information for production of 9,000 and 16,000 units, prepare a flexible budget for 17,000 units. Production 9,000 units 16,000 units Expense A $14,400 $25,600 Expense B 21,000 21,000 Expense C 45,000 #5,000 Total expenses $We discuss how to prepare the different component budgets of theoperating budget, including the sales, production, direct materials,direct labor, manufacturing overhead, cost of goods sold, andselling and administrative expense budgets. We also discuss howto use information from all of these operating budgets to prepare abudgeted income statement. Knowledge Check 05WellWheats, Inc. produces breakfast cereal and sells each box, or unit, for $7.The company is projecting sales of 1,000 units for the month of March. The totalcost of producing one unit includes $2 for direct materials, $1 for direct labor,and $0.50 for manufacturing overhead.Calculate the cost of goods sold for the month of March.