INSTRUCTIONS: Use the information below to answer the five questions that follow. What will be the approximate percent increase from the previous year's budget for the new suggeste supply budget? At the beginning of the fiscal year, the supply budget for your office is $2,500. During the year, supplies were purchased as follows: July $433.72 Oct $102.00 Jan $172.33 Apr $94.87 Aug $107.83 Nov $203.95 Select the single best answer: OA. 2.90 percent OB. 4.75 percent C. 8.20 percent D. 13.75 percent E. None of the above. Feb $259.63 May $402.57 Sept $97.08 Dec $73.84 Mar $117.63 In June, you are asked to suggest a figure for next year's budget. You are informed in June that there will be a cost increase of nine percent for next year's budget.

INSTRUCTIONS: Use the information below to answer the five questions that follow. What will be the approximate percent increase from the previous year's budget for the new suggeste supply budget? At the beginning of the fiscal year, the supply budget for your office is $2,500. During the year, supplies were purchased as follows: July $433.72 Oct $102.00 Jan $172.33 Apr $94.87 Aug $107.83 Nov $203.95 Select the single best answer: OA. 2.90 percent OB. 4.75 percent C. 8.20 percent D. 13.75 percent E. None of the above. Feb $259.63 May $402.57 Sept $97.08 Dec $73.84 Mar $117.63 In June, you are asked to suggest a figure for next year's budget. You are informed in June that there will be a cost increase of nine percent for next year's budget.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 20E

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Mike Tackett, manager of the Troopers Café, has asked for your assistance preparing the monthly budget for January 20X8. He provides you with the prior January actuals as follows: Sales $100.400 Expenses: Labor (F) 12,000 Labor (V) 18,000 Cost of sales (V) 36,000 Supplies (V) 3.200 Energy (V) 2.620 Promotion (V) 1.300 Maintenance (F) 2.000 Maintenance (V) 1.200 Property taxes (F) 800 Depreciation (F) 1.000 Rent (F) 850 Insurance (F) 625 Subtotal 79.595 Net income $20.805 Assume for 20X8 sales are expected to increase by 10 percent, fixed costs will increase by 5 percent, and variable costs will remain at the same percentage of sales as experienced in the prior January. Prepare the budget for January 20X8. HOMEWORK HINT: Divide the prior January variable expenses by the prior January sales amount to come up with the percentage of sales for each variable expense. DO NOT ROUND THE PERCENTAGEI Multiply that percentage by the January 2018 Budgeted Sales Amount (that you figure out) to come…
Saudi Agricultural Company, engaged in manufacturing bricks and other relevant items and most of the transaction accomplished in 'Cash' only. The company is giving following transactions for the year 2020, you are required to prepare 'CASH BUDGET' for three months from February to April. Following are company policies for paying and receiving Cash: 1. 20% Sales is for cash and the remaining amount is realized in the month following that of sales. Suppliers Supply raw materials at one month's credi 3. Wage-bill is paid in first week of next month. 4. Overheads are paid in cash in the same month. 5. Monthly rent payment is ` 1,000. 6. Advance Income Tax of ` 15,000 is payable in April. 7. Bonus of ` 10,000 is payable to workers in February. 8. Plant Costing 80,000 is due to be installed in February. The part of the bill will be paid in March amounting to ` 18,500. 9. Half year interest on 12% ` 50,000 Debentures is to be received in February and August every year. 10. Cash at Bank on 1st…
I only need the Unpaid Expenses x Percent to Pay help. Thank you. Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $15,000. The budgeted expenses for the next three months are as follows: January February March Salaries $56,900 $ 68,100 $ 72,200 Utilities 2,400 2,600 2,500 Other operating expenses 32,300 41,500 44,700 Total $91,600 $112,200 $119,400 Other operating expenses include $3,000 of monthly depreciation expense and $500 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for…
Can you give me the step by step answers on how to compute this: An excel spreadsheet would be amazing... ProblemThe treasurer of Bradly Lawn Equipment Company instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: August September OctoberSales $310,000 $390,000 $366,000Manufacturing costs 190,000 240,000 215,000Operating expenses 56,000 71,000 65,000Capital expenditures 24,000 The company expects to sell about 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in full in the month following the sale and the remainder the following month. Depreciation, insurance, and property taxes represent $20,000 of the estimated monthly manufacturing costs and $4,000 of the probable monthly operating expenses.¬ The annual insurance premium is paid in July, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs and operating expenses, 80% are…
Mike Tackett, manager of the Troopers Cafe, hos asked for your assistance preparing the monthly budget fer January 20X8, He provides you with the prior lanuary actuls as fallows: Sales $100,400 Expenses: Labor (F 12,000 Labor (VI 18,000 Cost of sales IV) 36,000 Supplies IV) 3200 Encrgy (V) 2620 Promotion (V) Maintenance (F) 2.000 Maintenance (V) 1.200 Property tawes (F) 800 Depreciation (F) 1000 1.300 Rent IF) 850 Insurance (F) 625 Subtotal 72.595 Net income $ 20.005 Assume for 20X3 sakes are expected to increase by 10 percent, fined custs will increase by s percent, ard variable costs will remain at the same percentage of sa es as eperienced in the prior January. Prepare the budget for January 20X8.
Styles Abuhatim LLC has given the following particulars. You are required to prepare a cash budget for the three months ending 31st December 2019 Months Sales Materials Wages ( OMR) Over heads (OMR) (OMR) (OMR) August September October 20000 10200 3800 1900 21000 10000 3800 2100 23000 9800 4000 2300 November 25000 10000 4200 2400 December 30000 10800 4500 2500 Credit terms are 1.. Sales /Debtors 10% sales are on Cash, 50% of the credit sales are collected in next month and the balance in the following month 2. Creditors- materials 2 months Wages 1 month -1 month Overheads 3. Cash balance on 1st October is expected to be Ro.8000 4. A machinery will be installed in August at a cost of RO.100000, the monthly instalment of RO.5000 is payable from October onwards 5. Dividend at 10% on preference share capital RO.300,000 will be paid on 1* December 2019 6. Advance to be received for the sale of vehicles RO.20000in December 7. Income tax to be received in December RO.5000
! Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 630 sun shades in May and 420 In June. Each shade sells for $147. Shadee's beginning and ending finished goods Inventories for May are 75 and 55 shades, respectively. Ending finished goods Inventory for June will be 60 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 80 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: • Selling costs are expected to be 6…
Sunland, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $299200 $289800 $321000 $280300 $209700 Budgeted purchases $144500 $119700 $128000 $132700 $89400 • Customer amounts on account are collected 60% in the month of sale and 40% in the following month. • Cost of goods sold is 70% of sales. • Sunland purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month. • Operating expenses are: Salaries, $51000; Depreciation, $12000; Rent, $14400; and Utilities, $14800. • Accounts payable is used only for inventory acquisitions. How much cash will Sunland receive during May from customers? $304720 $192600 $302280 $308520
A United Foods LLC have provided the following information and you are requested to prepare cash budget for the months from June to September 2016. Month Sales Salary Marketing Expenses Rent Additional information: a. b. June (Amount OMR) 90,000 60,000 9,000 3,000 July (Amount OMR) 120,000 75,000 12,000 6,000 August (Amount OMR) 150,000 60,000 12,000 6,000 Cash balance at the beginning of June 2016 is RO. 45,000 All sales is cash sales c. Salaries and Marketing expenses are paid at the beginning of next month d. Rent is settled in the same month كان الشرق الأوسط Middle East College September (Amount OMR) 180,000 90,000 12,000 3,000
Personal Finance Budget - Application • You are a worker in one muti-international company. There are three sources of income (salary, bonus, and other), followed by a list of expenses (rent, food, groceries, restaurants, entertainment, childcare costs, vacations, etc.). And the difference between the two is the person's monthly surplus or deficit. • As a worker, your monthly salary is Php6,000. bonuses are given every April and October in the amount of Php5,000, and Other income earned for the month of January for Php1000. • Your monthly expenses include the following: o Rent - Php1,700 o Food and Groceries - Php800 o Restaurants Expenses - Php1,200 o Entertainment - Php400 o Childcare - Php1,000 o Clothing - Php500, for March, June, September, December o Vacation - Php2,000, scheduled for the months of February and August o Other Expenses - Php1,000 for the months of February, May to December, Php700 for March, and Php2,000 for the month of April. • With the given data, prepare your…
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