Phoenix Company reports the following fixed budget. It is based on an expected production and sales...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 $ Sales 3,020,000 Costs Direct materials 996, 600 Direct labor 211,400 Sales staff commissions 60,400 Depreciation-Machinery 305,000 Supervisory salaries. 202,000 Shipping 211,400 Sales staff salaries (fixed annual 248,000 amount) Administrative salaries 442, 200 192,000 Depreciation-Office equipment Income $ 151,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Bud for: Total Units Unit Fixed Sales of Sales of Cost 14,100 16,100 Variable costs Fixed costs Variable Amount per Unit Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 $ Sales 3,020,000 Costs Direct materials 996, 600 Direct labor 211,400 Sales staff commissions 60,400 Depreciation-Machinery 305,000 Supervisory salaries. 202,000 Shipping 211,400 Sales staff salaries (fixed annual 248,000 amount) Administrative salaries 442, 200 192,000 Depreciation-Office equipment Income $ 151,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Bud for: Total Units Unit Fixed Sales of Sales of Cost 14,100 16,100 Variable costs Fixed costs Variable Amount per Unit
Expert Answer:
Answer rating: 100% (QA)
Answer Step by Step Explanation iVariable Cost are those Cost which Changes with the Change in Outpu... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
Posted Date:
Students also viewed these accounting questions
-
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. Required 1. Classify all items listed in the...
-
At December 31, 2011, Klimek Company reports the following results for the year. Cash sales . . . . . . . . . $1,015,000 Credit sales . . . . . . . . 1,241,000 In addition, its unadjusted trial...
-
At December 31, 2015, Hawke Company reports the following results for its calendar year. Cash sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,905,000 Credit sales . . . . . . ....
-
Consider the no-trade input/output situation presented in the following table for countries X and Y. Assuming that free trade is allowed, develop a scenario that will benefit the citizens of...
-
Who are your heroes? What makes them heroes, and what can you learn from them?
-
Suppose that many stocks are traded in the market and that it is possible to borrow at the risk-free rate, rf. characteristics of two of the stocks are as follows: Stock Expected Return Standard...
-
Write an algorithm in pseudo-code, or a programming language of your choice, that evaluates a position in tic-tac-toe. Your static evaluator should give 0 for a drawn position, 1 for a won position...
-
The table below shows the account balances of Novations, Inc., at the beginning and end of the company's accounting period. The following additional information is available: (a) All purchases and...
-
Dorpac Corporation has a dividend yield of 1.3%. Its equity cost of capital is 8.8%, and its dividends are expected to grow at a constant rate. a. What is the expected growth rate of Dorpac's...
-
1. Which process should VBB choose to produce?? 2. How much would VBP be willing to pay for the testing that is currently offered, for each batch?? 3. Would we be considered a perfect test, at twice...
-
5 log x 4 log x e www. ,3 logx 2 logx e' -
-
What are the consequences for a creditor who refuses a tender of performance by the debtor?
-
Give two examples of involuntary assignments.
-
Is notice required to assign a negotiable instrument? Explain.
-
What are the requirements for a statutory assignment? Describe the business advantages associated with such assignments.
-
Explain the two types of assignment by operation of law.
-
that avoids the loss of precision: Propose an algorithm for computing the following expression f(x)= = 1 1-x 1 cos(x) for ~ 0.
-
The area of square PQRS is 100 ft2, and A, B, C, and D are the midpoints of the sides. Find the area of square ABCD. B A
-
On July 1, Friler Company purchased a three-year insurance policy by paying $5,400. Prepare journal entries to record the purchase and the related year-end adjusting entry.
-
List the two fundamental qualitative characteristics of useful information identified in the tentative joint conceptual framework of the FASB and IASB.
-
Frankfort Company identifies depreciation as the only difference for future taxable amounts. In Year 1, its depreciation for financial reporting purposes is $3,500 and $5,000 for income tax reporting...
-
Museum directors today need both an advanced degree in art history and curatorial experience, as well as the financial acumen and managerial skills of a chief executive. In this economic environment,...
-
Consider the four generations of workers now in the workplace. Identify a worker you know from each generation. How do they fi t into their generational stereotype? How do they differ? Are there...
-
A survey by the Center for State and Local Government Excellence conducted among members of the International Public Management Association for Human Resources and the National Association of State...
Study smarter with the SolutionInn App