GHI Company has the following planning budget for the month of September Budgeted units of output ( q ) 1 0 0 5 Revenue ( $ 4 0 0 q ) 4 0 , 0 0 0 Expenses Wages and Salaries ( $ 8 , 0 0 0 $ 1 2 5 q ) 2 0 , 5 0 0 Supplies ( $ 3 q ) 3 0 0 Equipment rental ( $ 1 , 8 0 0 $ 3 2 q ) 5 , 0 0 0 Insurance ( $ 3 , 4 0 0 ) 3 , 4 0 0 Total Expenses 2 9 , 2 0 0 Net income $ 1 0 , 8 0 0 Required Prepare a flexible budget for September, assuming the actual units of output were 1 2 0

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 09, 2024

GHI Company has the following planning budget for the month of September: Budgeted units of output ( q ) = 1 0 0 5 Revenue

GHI Company has the following planning budget for the month of September:

Budgeted units of output

(

) = 1005

Revenue

(

400

) 40, 000

Expenses:

Wages and Salaries

(

8, 000 +

125

) 20, 500

Supplies

(

3

) 300

Equipment rental

(

1, 800 +

32

) 5, 000

Insurance

(

3, 400) 3, 400

Total Expenses

29, 200

Net income $

10, 800

Required:

Prepare a flexible budget for September, assuming the actual units of output were

120 .

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Introduction to Probability

Authors: Mark Daniel Ward, Ellen Gundlach

1st edition

716771098, 978-1319060893, 1319060897, 978-0716771098

More Books

Students also viewed these Accounting questions

Question

★★★★★

A bakery with a December 31 st year end purchased new equipment on October 31 st 2000 for $10,000. This was their first equipment purchase. Required: What are the tax consequences if the equipment is...

Answered: 1 week ago

Question

★★★★★

MUST BE CORRECT ANSWERS A small software company has the following simplified cashflow, funded by shareholders' equity of 20,000 and a bank overdraft of 5000: Invoiced money received 2 months after...

Answered: 1 week ago

Question

★★★★★

Green Mountain Ltd is a merchandising company that is trying to decide how many units of merchandise to order each month. The company's policy is to have 20% of the next month's sales in inventory at...

Answered: 1 week ago

Question

★★★★★

At DEF Insurance Company, agents are employees of the company who are paid a salary plus commissions. This is an example of what type of insurance marketing system? OA) Fraternal B) Direct response...

Answered: 1 week ago

Question

★★★★★

Suppose that X1, . . . , Xn form a random sample from the 2 distribution with unknown degrees of freedom ( = 1, 2, . . .), and it is desired to test the following hypotheses at a given level of...

Answered: 1 week ago

Question

★★★★★

Why don't we need to know the population standard deviation when performing a test about a population proportion?

Answered: 1 week ago

Question

★★★★★

Find the value of z-say zo-such that 0.95 of the area is within zo standard deviations of the mean.

Answered: 1 week ago

Question

★★★★★

Grinder Ltd. is an S corporation that is wholly owned by Juan Plowright. Because several of Juan's ancestors have had Alzheimer's disease, Juan is transferring many of his assets to trusts, and he is...

Answered: 1 week ago

Question

★★★★★

Please write the last 4 digits of your campus wide ID on the front page of your homework. Problem 1. Assume that we are using a hard disk with the following characteristics: ? Capacity 30 GB ?...

Answered: 1 week ago

Question

★★★★★

Define a function called sumsquares that takes two integers as a parameter and computes the sum of square of numbers from the first number to the second number.

Answered: 1 week ago

Question

★★★★★

tion 29 On January 2. 2020. Izlar Site Exploration acquired a tract of land with rights to an unproven oil reserve for a orice of $9,600,000. Fair market value of the land itself is $200,000, the...

Answered: 1 week ago

Question

★★★★★

Golden Food Products produces special-formula pet food. The company carries no inventories. The master budget calls for the company to manufacture and sell 120,000 cases at a budgeted price of $60...

Answered: 1 week ago

Question

★★★★★

Mesa Solutions needs 300 units of aluminum panels each week for its sign-making business. The carrying/holding cost per unit per year is $20 and the fixed ordering cost is $900. What is the optimal...

Answered: 1 week ago

Question

★★★★★

Blossom Inc. manufactures a single product in a continuous processing environment. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the...

Answered: 1 week ago

Question

★★★★★

The Windber Company is in its planning stage for next year. Windber expects sales to dip in Quarter 2 and is creating a production budget to determine if it needs to lay off employees. Windber knows...

Answered: 1 week ago

Question

★★★★★

I need help with a managerial accounting question. All parts pertain to the same question. Andretti Company has a single product called a Dak. The company normally produces and sells 87,000 Daks each...

Answered: 1 week ago

Question

★★★★★

you have a Microsoft Entra tenant with Microsoft Entra ID P 2 licenses. You plan to use continuous access evaluation ( CAE ) . You need to ensure that CAE has insight into a user location. What...

Answered: 1 week ago

Question

★★★★★

You are interested in investing and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: (note: it is difficult to...

Answered: 1 week ago

Question

★★★★★

Find the product CD, given 4 1 5 8 6 C = 69 D = 4 3 1 7 2 CD is defined: 3 x (22) x 3. CD will be 3 x 3. RICI RIC RC3] CD R2C1 R2C2 R2C3 R3C1 R3C2 R3C3.

Answered: 1 week ago

Question

★★★★★

Redo Problem 5.17 for AB in Problem 5.19, where B is the transpose of B: Note from Problems 5.19 to 5.21 that AB BA AB. This further reflects the fact that matrix multiplication is not commutative....

Answered: 1 week ago

Question

★★★★★

Redo Problem 5.17 for BA in Problem 5.19. The product BA is defined: 3 x 2 = 2 x 2. BA will be 3 x 2. 8 BA= 6 7 4 2 3 5 = ] [ - 92 8(3) +1(9) = 6(3)+7(9) L4(3) + 2(9) RICI RIC2" R2C1 R2C2 R3C1 R3C2...

Answered: 1 week ago

Previous Question Next Question