Please complete the following budget Estimated Operating Figures Price $40.00 $2

Question

Please complete the following budget

Estimated Operating Figures Price $40.00 $25.00 $10.00 $24.80 PerAmount Per Unit unit lb hour0.6 hrs./unit unit 20X2 Sales Forecast (000) Jan. 94 Feb88 March 92 April 96 90 83 July80 August 75 Sept. 74 Oct. 75 Nov.75 Dec. 80 Year 1,000 Selling Price Direct Material Direct Labor Standard unit cost 0.5 lbs./unit Ma Annual Budgeted Overhead une Variable Mfg. OH $3,300 Estimated Activity Variable Mfg OH Rate S5.5 Fixed Mfg. OH Direct Labor Hours per Direct Labor Hour 600 $3,000 Planned Ending Inventories Finished Goods 50% of next month's unit sales Work-In-Process Raw Materials 20% 50% of this month's Budgeted Mfg Cost of material used this month Marketing and General and Administrative Expense Budgets Sales Commissions Mkt: Salaries and Expenses S15 Gen: Salaries and Expenses 1% Gen: Office Equip. Dep. S10 of sales increase in each month from Dec. 20X1 increase in each month from Dec. 201 per month 10% Estimated Cash, Financing, and Other Expense Information Cash Collections Sales Interest Income Rate 50% Month of Sale 50% Month following Sale 10% of L-Term Investments Cash Payments 100% Month following purchase 100% Month of expense 100% Month following sale Material Purchases Labor and Salaries Sales Commissions Other Current Liab. S150 paid in each month, February and March Building Purchase $2,000 financed by long-term debt Equipment Purchase $4,000 cash paid in January L-Term Investment $1,000 cash paid in January Dividends Interest on Financing S100 Quarterly, first month of the quarter following dividend declaration 12% Income Tax Rate 35% Minimum Cash Balance $1,000

Explanation / Answer

Gen & adm Budget 20X1Q4 Jan X2 Feb X2 Mar X2 Total Gen & admin salaries $100 101 102.01 103.03 $306 (100*101%) (101*101%) (102.01*101%) Gen & Adm expenses 40 46 52.9 60.84 $159.74 (40*115%) (46*115%) (52.9*115%) Office equipment-Depreciation $10 $10 $10 $30 Bud Gen & adm expenses $157 $164.91 $173.87 $495.78 If any doubt please comment

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.