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Required:

Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)







Weller Company
Selling and Administrative Expense Budget

 

1st

Quarter


2nd

Quarter


3rd

Quarter


4th

Quarter


Year

Variable expense

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

Fixed selling and administrative expenses:

 

 

 

 

 

 

 

 

 

 

Advertising

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Executive salaries

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Insurance

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Property taxes

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Depreciation

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Total fixed selling and administrative expenses

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Total selling and administrative expenses

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Less depreciation

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Cash disbursements for selling and administrative expenses

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)



Exercise 9-6 Selling and Administrative Expense Budget [LO7]

The budgeted unit sales of Weller Company for the upcoming fiscal year are provided below:







 

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Budgeted unit sales

15,000

16,000

14,000

13,000



The company's variable selling and administrative expense per unit is $2.50. Fixed selling and administrative expenses include advertising expenses of $8,000 per quarter, executive salaries of $35,000 per quarter, and depreciation of $20,000 per quarter. In addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property taxes of $8,000 will be paid in the second quarter.




Required:

Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)







Weller Company
Selling and Administrative Expense Budget

 

1st

Quarter


2nd

Quarter


3rd

Quarter


4th

Quarter


Year

Variable expense

$

37,500

$

40,000

$

35,000

$

32,500

$

145,000

Fixed selling and administrative expenses:

 

 

 

 

 

 

 

 

 

 

Advertising

 

8,000

 

8,000

 

8,000

 

8,000

 

32,000

Executive salaries

 

35,000

 

35,000

 

35,000

 

35,000

 

140,000

Insurance

 

5,000

 

0

 

5,000

 

0

 

10,000

Property taxes

 

0

 

8,000

 

0

 

0

 

8,000

Depreciation

 

20,000

 

20,000

 

20,000

 

20,000

 

80,000

Total fixed selling and administrative expenses

 

68,000

 

71,000

 

68,000

 

63,000

 

270,000

Total selling and administrative expenses

 

105,500

 

111,000

 

103,000

 

95,500

 

415,000

Less depreciation

 

20,000

 

20,000

 

20,000

 

20,000

 

80,000

Cash disbursements for selling and administrative expenses

$

85,500

$

91,000

$

83,000

$

75,500

$

335,000



http://mh10.brownstone.net/modules/skin/images/grading/incorrect.gif

Total grade: 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 + 0.0×1/50 = 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 0%




Feedback:

 

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Year

Budgeted unit sales

 

15,000

 

16,000

 

14,000

 

13,000

 

58,000

Variable selling and administrative expense per unit

$

× 2.50

$

× 2.50

$

× 2.50

$

× 2.50

$

× 2.50

Variable expense

$

37,500

$

40,000

$

35,000

$

32,500

$

145,000





Question 7: Score 0/4




Your response

Correct response

Exercise 9-7 Cash Budget [LO8]

Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:










1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Total cash receipts

$

180,000

$

330,000

$

210,000

$

230,000

Total cash disbursements

$

260,000

$

230,000

$

220,000

$

240,000



The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.




Required:

Prepare the company's cash budget for the upcoming fiscal year. (Show deficiencies, repayments, interest, and total financing preceded by a minus sign when appropriate. Enter all other amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)







Garden Depot
Cash Budget




1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Year

Cash balance, beginning

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

Total cash receipts

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Total cash available

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Less total cash disbursements

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Excess (deficiency) of cash available over disbursements

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Financing:

 

 

 

 

 

 

 

 

 

 

Borrowings (at beginnings of quarters)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Repayments (at ends of quarters)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Interest

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Total financing

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

 

  1   (0%)

Cash balance, ending

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

$

  1   (0%)

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