Johnson Planning Inc. provides financial planning services to business customers

Question

Johnson Planning Inc. provides financial planning services to business customers. In the upcoming month, Johnson plans to serve 53,000 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served Revenue: $4.54q Wages and salaries: $35,300 + $1.74q Supplies: $.94q Insurance: $22,000 Miscellaneous expense: $6,300 $.64q Required Prepare the company's planning budget for August. (Input all amounts as positive values. Omit the "$" sign in your response.) Johnson Planning, Inc. Planning Budget For the Month Ended August 31 Budgeted customers served Revenue Expenses Wages and salaries Supplies Insurance Miscellaneous expense Total expense Net operating income

Explanation / Answer

Prepare planning budget :

Budgeted cutomers served 53000 Revenue 240620 Expenses : Wages and salaries 127520 Supplies 49820 Insurance 22000 Miscellaneous expenses 40220 Total expenses 239560 Net operating income 1060

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