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+-1 (Similiar 16) for 2019 by developing a master budget by Quarters. Tamson's balance sheet for December 31, 2018, follows: Como tove for a income Statement to vie rents in to vie 0 Sales Budget budget Jand ancesa Tamison Toy Company Budgeted Income Statement For the Year Ended December 31, 2011 Net Sales Revenue 400,000 75.000 Cost of Goods Sold Gross Profit 324,920 Selling and Administrative Expenses 54,000 Operating Income 270920 Other income and (Expenses) interest Expense Income Before Income Taxes 270.920 12,000 Income Tax Expense Net income 258.920 Tamison Toy Company Sales Budget For the Year Ended December 31, 2010 First Second Third Quarter Quarter Quarter 1,100 1,200 1,300 80 $ 60 $ 0 88.000 $ 96.000 $ 104.000 $ Fourth Quarter Total Budgeted sets to be sold Sales price per unit 1400 80 $ 112.000 $ 400 000 Total sales Print Done Print Dono Selling and Administrative Expense Budget TE PO Total Tamison Toy Company Selling and Administrative Expense Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter Salaries Expense 8,000 $ 8,000 $ 8,000 $ Rent Expense 2,400 2,400 2,400 Insurance Expense 600 600 Depreciation Expense 500 500 500 Supplies Expense 1,760 1,920 Total budgeted selling and administrative expense 13,260 13,420 13,580 Fourth Quarter 8,000 $ 2,400 600 500 2,240 600 32,000 9,600 2,400 2,000 8,000 54,000 udg nou 2,080 13,740 $ Print Done] locks 0 Data Table hison's ba Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment 15,000 40,000 600 5,000 60,600 Less: Accumulated Depreciation 199,000 (42,000) $ 157,000 217,600 Total Assets Liabilities Current Liabilities: Accounts Payable 9,000 Common Stock, no par Stockholders' Equity $ 170,000 38,600 Retained Earnings put field Print Done] Flexible Budget Amounts Per Unit Actual Results Budget Variance Flexible Budget Sales Volume Variance Static Budget O OD Units Net Sales Revenue Variable Costs: Product Costs Selling and Admin. Costs Contribution Margin Fixed Costs: Product Costs Selling and Admin Costs Operating Income TH IN DOO prkld-555429831&questionid=1&flushed=true&cld=5876296¢erwin=yes 1 of 1 (1 complete) 0 Data Table fon's balar 464,000 plify the cal 83,107 380,893 Income Statement For the Year Ended December 31, 2019 Net Sales Revenue $ Cost of Goods Sold: Variable 40,507 Fixed 42,600 Gross Profit Selling and Administrative Expenses: Variable 9,280 Foced 46,000 Operating Income Other Income and (Expenses): Interest Expense Income Before Income Taxes Income Tax Expense put blank.) on 55,280 ges End 325,613 (200) 325,413 19,000 306,413 Net Income ut fid Print Done 1 of 1 (1 complete) n. Tamison is planning for 2019 by developing a master budget by quarters. Tan Jata Table Variable $ 30,980 $ 39,707 Static budget Flexible budget Fixed 44,100 $ 44,100 Total 75,080 83,807 ing Print Print Done (3) (3) - (5) Sales cible aget anca Flexible Runot Volume Varianna Static Rurat then click Check Answer. Clear All +-1 (Similiar 16) for 2019 by developing a master budget by Quarters. Tamson's balance sheet for December 31, 2018, follows: Como tove for a income Statement to vie rents in to vie 0 Sales Budget budget Jand ancesa Tamison Toy Company Budgeted Income Statement For the Year Ended December 31, 2011 Net Sales Revenue 400,000 75.000 Cost of Goods Sold Gross Profit 324,920 Selling and Administrative Expenses 54,000 Operating Income 270920 Other income and (Expenses) interest Expense Income Before Income Taxes 270.920 12,000 Income Tax Expense Net income 258.920 Tamison Toy Company Sales Budget For the Year Ended December 31, 2010 First Second Third Quarter Quarter Quarter 1,100 1,200 1,300 80 $ 60 $ 0 88.000 $ 96.000 $ 104.000 $ Fourth Quarter Total Budgeted sets to be sold Sales price per unit 1400 80 $ 112.000 $ 400 000 Total sales Print Done Print Dono Selling and Administrative Expense Budget TE PO Total Tamison Toy Company Selling and Administrative Expense Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter Salaries Expense 8,000 $ 8,000 $ 8,000 $ Rent Expense 2,400 2,400 2,400 Insurance Expense 600 600 Depreciation Expense 500 500 500 Supplies Expense 1,760 1,920 Total budgeted selling and administrative expense 13,260 13,420 13,580 Fourth Quarter 8,000 $ 2,400 600 500 2,240 600 32,000 9,600 2,400 2,000 8,000 54,000 udg nou 2,080 13,740 $ Print Done] locks 0 Data Table hison's ba Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment 15,000 40,000 600 5,000 60,600 Less: Accumulated Depreciation 199,000 (42,000) $ 157,000 217,600 Total Assets Liabilities Current Liabilities: Accounts Payable 9,000 Common Stock, no par Stockholders' Equity $ 170,000 38,600 Retained Earnings put field Print Done] Flexible Budget Amounts Per Unit Actual Results Budget Variance Flexible Budget Sales Volume Variance Static Budget O OD Units Net Sales Revenue Variable Costs: Product Costs Selling and Admin. Costs Contribution Margin Fixed Costs: Product Costs Selling and Admin Costs Operating Income TH IN DOO prkld-555429831&questionid=1&flushed=true&cld=5876296¢erwin=yes 1 of 1 (1 complete) 0 Data Table fon's balar 464,000 plify the cal 83,107 380,893 Income Statement For the Year Ended December 31, 2019 Net Sales Revenue $ Cost of Goods Sold: Variable 40,507 Fixed 42,600 Gross Profit Selling and Administrative Expenses: Variable 9,280 Foced 46,000 Operating Income Other Income and (Expenses): Interest Expense Income Before Income Taxes Income Tax Expense put blank.) on 55,280 ges End 325,613 (200) 325,413 19,000 306,413 Net Income ut fid Print Done 1 of 1 (1 complete) n. Tamison is planning for 2019 by developing a master budget by quarters. Tan Jata Table Variable $ 30,980 $ 39,707 Static budget Flexible budget Fixed 44,100 $ 44,100 Total 75,080 83,807 ing Print Print Done (3) (3) - (5) Sales cible aget anca Flexible Runot Volume Varianna Static Rurat then click Check Answer. Clear All