Outdoor Outfitters has created a flexible budget for the 70,000-unit and the 80,000-unit levels of activity as
Question:
Outdoor Outfitters has created a flexible budget for the 70,000-unit and the 80,000-unit levels of activity as shown below.
Complete Outdoor Outfitters’s flexible budget at the 90,000-unit level of activity. Assume that the cost of goods sold and variable operating expenses vary directly with sales and that income taxes remain at 30 percent of operatingincome.
Transcribed Image Text:
70,000 Units 80,000 Units 90,000 Units Sales Cost of goods sold Gross profit on sales . Operating expenses ($90,000 fixed) - Operating income Income taxes (30% of operating income) Net income $1,400,000 $1,600,000 $ 840,000 560,000 $ 640,000 $ 370,000 960,000 410,000 $ 190,000 $ 230,000 $ 57,000 133,000 $ 161,000 $ 69,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (18 reviews)
Flexible budget at 90000unit level of activity Sales 1600000 80000 units 20 per unit 90000 20 18...View the full answer
Answered By
S Mwaura
A quality-driven writer with special technical skills and vast experience in various disciplines. A plagiarism-free paper and impeccable quality content are what I deliver. Timely delivery and originality are guaranteed. Kindly allow me to do any work for you and I guarantee you an A-worthy paper.
4.80+
27+ Reviews
73+ Question Solved
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Question Posted:
Students also viewed these Cost Accounting questions
-
A restaurant manager applied a flexible budget for the previous operating period The flexible budgets food cost was $12,560 and the actual food cost was $11,900 Would this outcome be considered...
-
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.20 Indirect...
-
Raney Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor...
-
Aneko Company reports the following ($000s): net sales of $14,800 for 2018 and $13,990 for 2017; end-of-year total assets of $19,100 for 2018 and $17,900 for 2017. Compute its total asset turnover...
-
The total profit (in dollars) from the sale of x cameras is P(x) = 12x - 0.02x2 - 1,000 0 x 600 Evaluate the marginal profit at the given values of x, and interpret the results. (A) x = 200 (B) x =...
-
Michaels adjusted gross income for 2017 is $90,000. He is age 30 and single with no dependents. What is Michaels taxable income?
-
Sea Explor manufactures deep-sea diving suits. The company records manufacturing costs by job number and uses a factory overhead applied rate to charge overhead costs to its products. Sea Explor...
-
Consider problem 8 again. Assume that there are immediate synergistic benefits of $4 million if Apex and Pinnacle merge. Answer parts a, b, and c of problem 8 under these conditions.
-
NOTE: PLEASE IGNORE GST FOR THE PURPOSE OF THIS QUESTION You are the accountant for A & J Enterprises, a gourmet fudge manufacturer. The owners of the business, Amelia and Julia, are an absolute whiz...
-
The project that Nationwide undertook was quite clearly a success. What made this possible? Discuss three different practices that helped Nationwide pull this off. Use examples from the case where...
-
On March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget for March, April, and May. All of the companys sales are made on account. The following information...
-
The cost accountant for Upload Games Company prepared the following monthly performance report relating to the Packaging Department: Prepare a revised performance report in which the variances are...
-
What is the height of Mt. Kilimanjaro?
-
2. A marvelous new metal, phonium, is found to have a work function of 1 eV. a. If a photon of 3 eV energy strikes phonium and causes the emission of an electron, what is the maximum kinetic energy...
-
The first production department of Stone Incorporated reports the following for April. Direct Materials Units Beginning work in process inventory 70,000 Percent Complete 60% Conversion Percent...
-
A mineral is added to bodies of fresh water to prevent the spread of certain freshwater parasites. The presence of those parasites threatens the health of organisms living in rivers and streams...
-
(b) Let g(x) = 2 tan(x). Using what you learned from your answer in (a), give the particular antiderivative G(x) of g(x) defined on the interval (-,) which satisfies G(/4) = 4ln(2). G(x) =
-
When energy is transferred from a hot object to a cold object the temperature does not change at a constant rate. does the temperature change or does not change at a constant rate until it reaches...
-
This problem performs elliptic curve encryption/decryption using the scheme outlined in Section 10.4. The cryptosystem parameters are \(\mathrm{E}_{11}(1,6)\) and \(G=(2,7)\). B's secret key is...
-
r = 0.18 Find the coefficients of determination and non-determination and explain the meaning of each.
-
Answer the following questions related to horizontal drilling: a. What are the conditions under which horizontal drilling operations would be considered? b. Would horizontal drilling operations be...
-
Give an example of business transactions that would: (a). Cause one asset to increase and another asset to decrease, with no effect on either liabilities or owners equity. (b). Cause both total...
-
Give an example of business transactions that would: (a). Cause one asset to increase and another asset to decrease, with no effect on either liabilities or owners equity. (b). Cause both total...
-
What is meant by the terms positive cash flows and negative cash flows? How do they relate to revenues and expenses?
-
content area Part 1 Yield management is the aggregate planning process of allocating the company's scarce resources to Part 2 A. control low fixed costs. B. maximize revenue. C. stabilize customer...
-
Kyoto Joe Inc. sells earnings forecasts for Japanese securities. Its credit terms are 4/10, net 60. Based on experience, 50% of all customers will take the discount. a. What is the average collection...
-
a.&b. Based upon the size and information provided, select "X" if the programs are Type A with low risk and high risk or Type B with low risk and high risk programs, or select "NA". Program # Award...
Study smarter with the SolutionInn App