ACCT 212 Learnsmart Assignment 7 Liberty University Solution

A company pays all selling expenses in the month incurred. Budget information includes: Administrative salaries $50,000; Sales commissions $20,000; Advertising $10,000; Depreciation on store equipment $25,000; Rent on administrative building $30,000; Miscellaneous administrative expenses $5,000. Total cash disbursements for general and administrative expenses is $____

A manufacturing company has budgeted production of 940 units for the month. Each unit requires $1.25 in variable overhead cost. The budgeted fixed cost is $950 per month. The total budgeted overhead cost will be $___________.

A company pays all selling expenses in the month incurred. Budget information includes: Administrative salaries $50,000; Sales commissions $20,000; Advertising $10,000; Depreciation on store equipment $25,000; Rent on administrative building $30,000; Miscellaneous administrative expenses $5,000. Total cash disbursements for selling expenses is $____.

A merchandising company's budget includes the following data for January: Sales: $400,000; COGS: $270,000; Administrative salaries: $1,250; Sales commissions: 5% of sales; Advertising: $10,000; Salary for sales manager: $30,000; Miscellaneous administrative expenses: $5,000. The total selling expenses on the January selling expense budget will be __________.

A company has the following budget information: Sales $118,800; COGS $48,500; Depreciation expense $1,500; Interest expense $250; other expenses $41,880. If the company budgets 40% for income tax expense, the budgeted net income will be $_____.

A merchandising company's budget includes the following data for January: Sales: $400,000; COGS: $270,000; Administrative salaries: $1,250; Sales commissions: 5% of sales; Advertising: $10,000; Depreciation on store equipment: $25,000; Rent on administrative building: $30,000; Miscellaneous administrative expenses: $5,000. The total general and administrative expenses on the January general and administrative expense budget will be $ ________.

A company expects to sell 500 units during the second quarter and 550 units in the third quarter. Currently, during the second quarter, they have 46 units on hand. If they desire safety stock of 10% of the next quarter's sales, _____ units will need to be produced in the second quarter.

ABC Company prepared a cash budget for the month. The company has outstanding loans and desires the minimum cash balance of $10,000. If the company has a preliminary cash balance of $25,000, the company should:

A company budgets the following merchandising purchases: April: $70,000; May $90,000; June: $60,000. All purchases are on account nd the company pays 25% of purchases in the month of the purchases, 50% in the month after the purchase, and the remaining balance in the second month after the purchase. Cash disbursements for June for merchandise is $________.

A merchandising company's sales budget indicates the following sales: Janurary: $30,000; Feburary: $20,000; March $15,000. The company expects 80% of the sales to be on account. Credit sales are collected 30% in the month of the sale and 70% in the month following the sale. The total cash receipts collected during March will be $__________.