Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Benjamin Corp. a shipping container refurbishment company that measures its output by the number of containers refurbished. The Co. has provided the following fixed and

image text in transcribed
Benjamin Corp. a shipping container refurbishment company that measures its output by the number of containers refurbished. The Co. has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Variable Element Fixed Element per Container Refurbished per Month Revenue Employee salaries and wages Refurbishing materials Other expenses S 5,400 S 1,000 $ 700 S 58.300 S 31,200 When the Co. prepared its planning budget at the beginning of March, t assumed that 26 containers would have been refurbished. However, 23 containers actually refurbished during March 10) The amount shown for revenue in the planning budget for March would have been closest to: B) $126,000 A) $142,435 C) S124,200 D) $140,400 11) The amount shown for "Employee salaries and wages" in the planning budget for March would have been closest to: A) $84,300 B) S81,300 C) $89,757 D) $79,400 12) The amount shown for "Refurbishing materials" in the planning budget for March would have been closest to: A) $16.100 B) S18,878 C) S18,200 D) S16.700 13) The amount shown for "Other expenses" in the planning budget for March would have been closest to: A) $34,591 B) $30,900 C) S30,600 D) S31,200 14) The amount shown for total expenses in the planning budget for March would have been closest to: A) S126,700 B) $128,600 C) S143,226 D) S133,700 15) The amount shown for net operating income in the planning budget for March would have been closest to: A) (S791) B) ($4,400) C) ($700) D) S6,700

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting A Practical Introduction

Authors: Ilias Basioudis

1st Edition

0273714295, 978-0273714293

More Books

Students also viewed these Accounting questions