Posiuszmy inc. has qathered the following budgeting information for next yoar and has asked you to prepare their masler budget. a. Saies for the final quarter of the prior year total 1600 units. Expected sales (in units) for the curent year are: 1,440 (Quarter 1), 960 (Ounrter 2,. 1280 (Ouarter 3), and 1,280 (Ouarter 4). Saies for the trst cuarter of the following year total 1,920 units. The seling price is $490 per unit in the first three quarters of the year, and 5510 per unit in the final quarter. b. Company policy cals for a given quarter's ending Enished goods inventory to equal 70% of the next eusiter's expected unit sales. The finished goods inventory at the end of the prior year is 1008 unts, which complies with the policy. The product's manudacturing cost is $211 per unit. including per unit casts of $84 for malerials i 5 los. at $14 per la). $95 for direct labor {4 howis $24 drect labor eate per hourl. $19 for variable overhead; and \$12 for fred overhead. Annual fised overthead conslsts, incuered evenly throughout the year, consist of depreciation on production equipment, 525,400 ; factory vetities, $31,800, and other factory overhesd of 56,352 . c. Company pelicy also calls for a given puarter's ending raw materials inventory to equal 50 os of next quarier's expected materials needed for production. The prior year end inventory is 3,312 tos of materals, which comples with the policy. The compsmy expects to have 5,760 tbs. of materiais in iveenery at year-end. The cempany has no work in process inventory at the end of swy quarter, d. Sales representatives' commissions are 55% of sales and are paid in the quarter of the saies. The Mies manager's quarterly salary wis be $77,000 in the first three quarters of the yeac and 582.000 in the finat quarter. - Quarterly general and adrinistyative expenses include 533,000 administrative saiaries, rers expense of $20,000 per querter, insurance expense of $50.000 per quarter, staightine depreclation of 516.000 per quartes, and 1. monery interest on the 5100.000 fong- 1erm rote peyable i2\% annually 1. Income tares wal be assesced at 30h, and are paid in the quarter incurred. Requiremont Prepare the Dirsec Matertais Dudget for Postusany ine. Company. Cempany poicy callin tor a oiven quarter's ending raw materials inicentory to equal soss of nave quarter's expected materials newded ior prosection. The prior year-end inventery is 3,312 lis of materias, whict complies weth the pollicy. The company Postuszny Inc. has gathered the following budgeting information for next year and has asked you to prepare their master budgot. a. Sales for the final quarter of the prior year total 1,600 units. Expected sales (in units) for the current year are: 1,440 (Quarter 1), 960 (Quarter 2), 1,280 (Quarter 3), and 1,280 (Quarter 4). Sales for the first quarter of the following year total 1,920 units. The selling price is $490 per unit in the first three quarters of the year. and $510 per unit in the final quarter. b. Company policy calls for a given quarter's ending finished goods inventory to equal 70% of the next quarter's expected unit seles. The finished goods inventory at the end of the prior year is 1008 units, which complies with the policy. The product's manufacturing cost is $211 per unit, including per unit costs of $84 for materials ( 6lbs, at $14 per lb.). $96 for direct labor (4 hours * $24 direct labor rate per hour), $19 for varieble overhead, and $12 for fixed overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $25,400; factory utilities, $31,800, and other factory overhead of $6,352. c. Company policy also calis for a given quarter's ending raw materials inventory to equal 505 of next quarter's expected materials needed for production. The prior year-end inventory is 3,312 Ibs of materiaks, which complies with the policy. The company expects to have 5,760 bs. of materials in imventory at year-end. The company has no work in process inventory at the end of any quartee. d. Sales representatives' commissions are 16% of sales and are paid in the quarter of the sales. The sales manager's quartetly salary wit be $77.000 in the first three quarters of the yeac, and $82.000 in the final quarter. a. Ouarterly general and administative expenses include $33,000 administrative salaries, rent expense of $20,000 per quarter, Insurance expense of $16,000 per quarter, straightIne depreciation of $6,000 per quertek and Ts monthly interest on the $100.000 long-term note poyable Z2\% annualy! 5. Income taxes will be assessed at 30k, and are paid in the quinter incurred. Requirement! Prepare the productien budget for Pestusany Inc., Company policy calls for a glven guarter's ending finished goods inventory te equal 70% of the next guarter's expected unit sales. The finished goods Inventory at the end of the prior year Is 1 , oos units. which cemplies with the poticy. Expected sales (In units) for the current year aree 1,440(Quarter+1), 900(Quarter 2), 1,2Be (Quarter 3), and 1,280 (Quarter 4). Sales for the first quarter ef the following year total 1,920 units. Posluszny Inc, has gathered the following budgeting information for next year and has asked you to prepare their master budget. a. Sales for the final quarter of the prior year total 1,600 units. Expected sales (in units) for the current year are: 1,440 (Quarter 1), 960 (Quarter 2), 1,280 (Ouarter 3), and 1,280 (Quarter 4). Sales for the first quarter of the following year total 1,920 units. The selfing price is $490 per unit in the first three quarters of the year, and $510 per unit in the final quarter. b. Company policy calls for a given quarter's ending finished goods inventory to equal 70 s. of the next quarter's expected unit sales. The finished goods inventory at the end of the prior year is 1,008 units, which complies with the policy. The product's manufacturing cost is $211 per unit. including per unit costs of $84 for moterials (6lbs, at $14 per lo). $96 for direct labor (4 hours * $24 direct labor rate per hourt). $19 for variable overhead, and $12 for fared overhead, Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $25,400, fectory utilities, $31,800, and other factory overheod of $6,352. c. Company policy also calls for a given quarter's ending raw materials inventory to equal 505 of next quarter's expectod moterials noeded for production. The prior year-end inventory is 3.312 Ibs of materials, which complies with the policy. The company expects to have 5,760 ibs of materials in inventory at year-end. The company has no work in process inventory at the end of any quarter. d. Sales representatives' commissions are 16% of saies and are paid in the quarter of the sales. The sales manager's quantety salary will be $77,000 in the first three quarters of the year, and $82,000 in the final quarter. e. Quarterly general and administrative expenses include $33,000 adminithative sateries, rent expense of $20,000 per quarter, insurance expense of $16,000 per quartec, staightline depreciation of $16,000 per quarter, and the monthly interest on the $100,000 long term note payable (t2\% annual y) 1. Income tanos wall be assessed at 30% and are paid in the quarter incurred. Mequirement Prepare the Sales Eudget tor pufeluswny the. Sales for the finat ausiter of the priar year tetal 1 , cas anits. Expected sales (in units) for the current year ire: 1,440 (Quarter 1), 960 (Quarter 2), 1.2s0 ceuarter 3) and 1,200 (Quarter 4). Sales for the first guarter of the following year total 1,920 units. The seiling price is s490 per unit tan the firit three querters of the vear, and 4510 per unit in the final quarter. Poskuztny lic. has githered the following budgoting information for novt year and has asked you to prepaie their master budgot. 3. Saies tor the final quarter of the prior year total 1600 units. Expected sales fin units) for the current year are: U40 (Quafter 1), 960 (Quarter 2]), 1,280 (Quarter 3), and 1,280 (Guarter 4) 5 ales for the firs quanter of the following yea totai 1,920 units. The seling price is 5490 per unt in the fiss theee quarters of the yeac, and $510 per unit in the final quarter. 4. Compeny policy cnils for a given quarters ending finished goods inventory to equal 70\% of the next quarte's expected unil sales. The finished goods inventory at the end of the priar year id 1.009 unis, which complies with the policy. The product's manufacturing cost is $211 per unit, including per unt costs of $84 for materials (6 bs. nt 514 per lo). 595 for direct labor (4 hours : $24 direct labor rate per houn. 519 for varinble overhesd, and $12 for fiasd overhead. Aninual fieed cveheod consists, incurred evenly throughout the year, consist of depreciation an production equpment, $25,400; fectory utilies. $31,800 and other foctory overthed of 56,352 . c. Companypolicy also colls tor a given quarter's ending raw materials invertory to ecual 50.s of next quarter's expected materials needed for production. The prier year-end invertory is 3312 los of melefiels, which comples with the policy. The compary expects to have 5.760 bs of Traterials in inventory at year-end. The company has no work in process inventory at the end of any quanter. d. Sales representatives' commiksions are 16s of sales and ale paid in the quarter of the sales. The jates manager's quarterly salary will be 577,000 in the first three suarters of the yeac, and 482.000 in the final quartet - Quantery general and adninistrative expenses include $33.000 admuinintretive salaries, rent eupense of 520,000 per queter, insurance expense of 516,000 per quartet, straightthe deprecietish of $16,000 per quartec and 75 monthy ivierest on the $100,000 long-term note pryeble (i24 osnualy 1 Income taks with be aveeved at jok, and are paid in the queter incurred. wartakic wernead, ond 112 fae froed everhead. Posluszny inc. has gathered the following budgoting information for next year and has asked you to prepare their mastor budget a. Sales for the final quaster of the prior year total 1,600 unts. Expected sales (in units) for the current year are: L440 (Ouaner 1). 960 (Quarter 2), 1,280 (Quarter 3), and 1.280 (Ouarter 4) Sales for the first quarter of the following year total 1,920 units. The selling price is $490 per unit in the first three quarters of the year, and $510 per unit in the final quartec. b. Company policy colis for a given quarter's ending finished goods inventory to equal 70% of the next cuanter's expected unit sales. The finished goods inventory at the end of the prior year is 1008 units, which complos with the policy. The product's manufacturing cost is $211 per unit, including per unit costs of $884 for moterials (6lbs. of $14 per fb). $96 for direct labor (4 hours " $24 direct lebor rate per houl. \$19 for variable overhend, and \$12 for fixed overhesd. Annual fixed ovethesd consists, incurred evenly throughout the year, consist of deprecistion an production equipment, $25,400, factory utlities, $31,800, and oetier factory overhead of $6,352. c. Company policy also cals for a given quarier's ending taw inaterials inventory to equal 50% of next quater's expected materias needed for production. The prior year.end inventory is 3,312 los of malorials, which complies with the policy. The company expects to have 5,760lbs. of moterials in itwentory at yoar.end. Tho company has no work in process inventory at the end of any quarter, d. Swes representatives commissions ayo 16% of sales and we paid in the quarter of the sales. The sales mansger's quartelly salary win be 577,000 in the first three quarters of the yeat and 582,000 in the fina quarter -. Cuartenty generat and administrative expenses include 333,000 administrative soiaries, rent. expense of 520,000 per quarier, insurance expense of 516,000 per quares, straightIne depiecistion of $16,000 per quarsec, and 1x monthyy interest on the $100.000 long-tem note poyable (12x annully! I. Income taies wat be assessed ot 30%, and are peid in the quarter incured. Fequirement Prepare the Butpeted Income statement for the year for Postusamy Ine. Interest on the thace,0so long-term note parabie it 1% per month {12% annyally }. Tacome taxes will be assessed at 30 th, and are gald in the quarter lacurred. Ponluszny Inc. has gathered the following budgeting information for next year and has asked you fo grepare thair master budget. a. Sales for the final quarter of the priot year totai 1.600 units. Expected sales fin units) for the : current year are: 1,440 (Quarter 1), 960 (Duarter 2), 1,280 (Quarter 3), and 1,280 (Ouarter 4). Saies for the first quarter of the following year total 1,920 units. The selling price is 3490 per unit in the fiss three quarters of the year, and $510 per unit in the final quarter. b. Compary policy calls for a given quarter's ending finished goods inventory to equal 70% of the next quarter's expected unit sales. The finished goods inventory at the end of the prior year is 1.008 units, which complies with the policy. The product's manufacturing cost is $211 per unit, inchuding per unit costs of 584 for materials (6 6 bos. at 514 per ib) 396 for direct labor (4 hours = $24 direct labor rate per houn). $19 for vatiable overhend and $12 for fixed overtiead Annual fised overtvead consists, incurred evenly twroughout the yeet, consist of depreciation on production equlpenem, $25,400, fectory uthies, $31,800, and other factory overhed of $6,352. c. Compary policy also calls for a given fuenter's ending raw materials inventory to equal 50 is of next quarter's oxpected materia's needed for production. The price year-end inventory is 3,312 los of materials, which complies with the policy. The company expects to have 5.760 tos. of materials in imventory at year-end. The company has no work in process inventory at the end of ony quarter. d. Sales representatives' commissions are 16% of sales and are paid in the quarter of the saves. The wes mander's quarterly salery wit be $7, 000 in the frist three quarters of the yeac, and 582,000 in the final quanter. - Qubrterly generel and odetiristrative expenses include $33,000 admiristrative salaries, rent. expense of $20,000 per querter, insurance espense of $16,000 per quarter, straightthe deprecietion of $16,000 per quefter, snd tix mantily interest on the 5100,000 lang-tert note payatle (t2:4 annualy). 1. hcome uses will be essessed at 205 , and are paid in the querter incurred. vear, centrid. Porlustmy ine, has gathered the following budgeting information for next year and has asked you to prepare theit master budget. a Sales for the final quarter of the pelor year total 1.600 units. Expected sales fin units) for the cuerent year are: 1,440 (Quarter 1), 960 (Quarter 2), 1,280 (Guarter 3), and 1,280 (Quarter 4). 5 iles for the first cuarter of the following year total 1,920 units. The selling price is $490 per. unit in the first three quarters of the year, and 5510 per unit in the final quarter. b. Compary policy cells for a given qusiter's ending finished goods inventory to equal 70% of the next quarted's expected unit sales. The firished goods inventory at the end of the prior year is 1008 units, which complies with the peficy. The product's manufacturing cost is $211 per unit, including per unit coses of $84 for materiels 6lbs. at $14 per lb). $96 for direct labor 14 hours = $24 direct labor rale per hour), $19 for variable overhend, and $12 for fixed overhead. Annual Exed overhe ed corsists, incurred evenly throughout the yeat, consist of depreciation on production equipment, $25,400, factory utaities, $31,800, and other factory overhed of $6,352. c. Cempany polcy also calis for a given quarter's ending raw materials inventory to equal 50 of next quster's expected materials needed for production. The prior yeiar-end invontory is 3,312 tos of materials, which complies with the policy. The compary expects to have 5,760 bs of materiais in ieventory at yeat-end. The company hos no work in process inventory at the end of any quarter, a. Saies representatives' commissions are 16% of sales and are paid in the quarter of the sales. The saies manajer's quarterfy saiky wit be $77,000 in the first three quarters of the yeac, and 582.000 in the finai c qurter. -. Quaiserily getheral end administrative expenses include $33,000 ad rivistractre salaries, fent espense of $20.000 per quartec, insurance expense of $16.000 per quartec, atyaight. line stppeciation of $16,000 per quertes, and is manthy interest on the $100,000 long-term nete peyable priss arrwaly incone tases witi be assessed at 30x, and are paid in the quarted incured. Fequirement Prepare tha seiling evpesse budget for the Pouluseny Inc. satary wil be 377,000 in the frist three quartars ef the vear, and 182,000 in the tinal ausarter. Porlusany inc, has gathered the following budgeting information for next year and has asked you to grepare their master budiget a. Sales for the final quarter of the ptior year total 1,600 units. Expected sales (in units) for the curreat year are: 1,440 (Quarter 1), 960 (Quarter 2). 1,280 (Quarter 3), and 1,280 (Quarter 4): Saies for the frist quarter of the following year total 1,920 units. The seling price is $490 per unit in the first three quarters of the yeac, and $510 per unit in the final quarter. b. Company policy calts for a given quarter's ending finished goods inventory to equsl 70% af the next quarter's expected un't sales. The frished goods inventery of the end of the priar year is 1,008 units, which comples with the policy. The product's manulacturing cost is $211 per unit, including per unit costs of $84 for materials (5 bas. at $14 per ib). 596 for direct labor (4 hours * $24 drect laboc rate per hour), \$19 for variable overhead, and $12 for fixed overhead. Annual theed ovetheed consists, incuried evenly throughout the year, consist of depreciation on preduction equipment, $25,400; factory undires, $31,800, and other factory overheed of $6,352. c. Company polcy also calls for a given quarter's ending raw materials inventory to equal 50% of next quater's expected materials needed for producton. The prior year-end inventory is 3.312 los of materials, which complies with the pelicy The company expects to have 5760 los of materias in ieventory at yoar-end The company has no work in process inventery at the end of any quarter. d. Sales repretertatives' conmissions are 165 of sales and are paid in the quarter of the sales. The shes manager's quartelly salery wil be 57,000 in the first three quarters of the year, and $82.000 in the final guarec e. Quarterly general and administuative expenses include $33.000 administrstive salaries, rent expense of $20,000 per quartec, insuarance expense of $16,000 per quarter, 5 traighttrue depreciation of 516,000 per quartes and 15 mantily imerest on the 5100,000 tongterin note payoble it2\% arnwally Income taxes will be assesved at 30\%, and are paid in the quarfer incurred. nagulrement Prepare the Administrative Expente nvepet for Postusney the Posiustry inc, has gathered the following budgeting information for next year and has asked you to prepare their master budgot. a. Sales for the final quarter of the prior year total 1,600 units. Expected sales (in units) for the curreat year are: 1,440 (Quarter 1), 960 (Quater 2h, 1.280 (Quarter 3), and 1,280 (Quarter 4). Sales for the fist quarter of the following year total 1,920 units. The selling price is $490 per urit in the first thee quarters of the year, and $510 per unit in the final quarter. b. Company policy colls for a glven quarter's ending linished goods inventory to equal 7os of the next quarter's expected unit sales. The frished goods imventory at the end of the prior year is 1,008 units, which conplies with the policy. The product's manufacturing cost is $211 per unit. including per unit costs of $84 for materiais ( 6 los. at $14 per lb.), $96 for divect labor (4 hours . $24 diect iabor rate per hour). \$19 for variable overhead, and \$12 for fixed overhead. Annual fised overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $25,400, faciory ulities, $31.800, and other factory overhead of $6,352. c. Company policy also calls for a given quater's onding raw materials inverstory to equal 50% of next quarter's expected materials needed for production. The prior yeat-end inventory is 3.312 bo of materials, which complies with the policy. The company expects to have 5.760 fos of materials in invertory at year-ond. The compamy has no work in process inventory at the end of any quarter. d. Sales tepresentatives' commissions are 16% of saies and are pald in the quarter of the sales. The sales manager's ewanelly satary wit be $77,000 in the fost three quarters of the yeat and 582.000 in the tnal quartec. e. Qustery generol and administuative expenses inctude 533,000 sdministrative saleries, reot espense of $20,000 per quartec insurance expense of $16,000 per quatec, straightSine depreciation of $16,000 per quertet, nad Fis monthly interest on the $100,000 long-teim nole payitle (12% annuali 1 thoome wewt wit be astesped at 30%, and are paid in the quarter incurred. Inequirement Uning infermatien from the waies budget ane the following intormation, calculate the thodgeted cost ar goods sold Posiuszmy inc. has qathered the following budgeting information for next yoar and has asked you to prepare their masler budget. a. Saies for the final quarter of the prior year total 1600 units. Expected sales (in units) for the curent year are: 1,440 (Quarter 1), 960 (Ounrter 2,. 1280 (Ouarter 3), and 1,280 (Ouarter 4). Saies for the trst cuarter of the following year total 1,920 units. The seling price is $490 per unit in the first three quarters of the year, and 5510 per unit in the final quarter. b. Company policy cals for a given quarter's ending Enished goods inventory to equal 70% of the next eusiter's expected unit sales. The finished goods inventory at the end of the prior year is 1008 unts, which complies with the policy. The product's manudacturing cost is $211 per unit. including per unit casts of $84 for malerials i 5 los. at $14 per la). $95 for direct labor {4 howis $24 drect labor eate per hourl. $19 for variable overhead; and \$12 for fred overhead. Annual fised overthead conslsts, incuered evenly throughout the year, consist of depreciation on production equipment, 525,400 ; factory vetities, $31,800, and other factory overhesd of 56,352 . c. Company pelicy also calls for a given puarter's ending raw materials inventory to equal 50 os of next quarier's expected materials needed for production. The prior year end inventory is 3,312 tos of materals, which comples with the policy. The compsmy expects to have 5,760 tbs. of materiais in iveenery at year-end. The cempany has no work in process inventory at the end of swy quarter, d. Sales representatives' commissions are 55% of sales and are paid in the quarter of the saies. The Mies manager's quarterly salary wis be $77,000 in the first three quarters of the yeac and 582.000 in the finat quarter. - Quarterly general and adrinistyative expenses include 533,000 administrative saiaries, rers expense of $20,000 per querter, insurance expense of $50.000 per quarter, staightine depreclation of 516.000 per quartes, and 1. monery interest on the 5100.000 fong- 1erm rote peyable i2\% annually 1. Income tares wal be assesced at 30h, and are paid in the quarter incurred. Requiremont Prepare the Dirsec Matertais Dudget for Postusany ine. Company. Cempany poicy callin tor a oiven quarter's ending raw materials inicentory to equal soss of nave quarter's expected materials newded ior prosection. The prior year-end inventery is 3,312 lis of materias, whict complies weth the pollicy. The company Postuszny Inc. has gathered the following budgeting information for next year and has asked you to prepare their master budgot. a. Sales for the final quarter of the prior year total 1,600 units. Expected sales (in units) for the current year are: 1,440 (Quarter 1), 960 (Quarter 2), 1,280 (Quarter 3), and 1,280 (Quarter 4). Sales for the first quarter of the following year total 1,920 units. The selling price is $490 per unit in the first three quarters of the year. and $510 per unit in the final quarter. b. Company policy calls for a given quarter's ending finished goods inventory to equal 70% of the next quarter's expected unit seles. The finished goods inventory at the end of the prior year is 1008 units, which complies with the policy. The product's manufacturing cost is $211 per unit, including per unit costs of $84 for materials ( 6lbs, at $14 per lb.). $96 for direct labor (4 hours * $24 direct labor rate per hour), $19 for varieble overhead, and $12 for fixed overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $25,400; factory utilities, $31,800, and other factory overhead of $6,352. c. Company policy also calis for a given quarter's ending raw materials inventory to equal 505 of next quarter's expected materials needed for production. The prior year-end inventory is 3,312 Ibs of materiaks, which complies with the policy. The company expects to have 5,760 bs. of materials in imventory at year-end. The company has no work in process inventory at the end of any quartee. d. Sales representatives' commissions are 16% of sales and are paid in the quarter of the sales. The sales manager's quartetly salary wit be $77.000 in the first three quarters of the yeac, and $82.000 in the final quarter. a. Ouarterly general and administative expenses include $33,000 administrative salaries, rent expense of $20,000 per quarter, Insurance expense of $16,000 per quarter, straightIne depreciation of $6,000 per quertek and Ts monthly interest on the $100.000 long-term note poyable Z2\% annualy! 5. Income taxes will be assessed at 30k, and are paid in the quinter incurred. Requirement! Prepare the productien budget for Pestusany Inc., Company policy calls for a glven guarter's ending finished goods inventory te equal 70% of the next guarter's expected unit sales. The finished goods Inventory at the end of the prior year Is 1 , oos units. which cemplies with the poticy. Expected sales (In units) for the current year aree 1,440(Quarter+1), 900(Quarter 2), 1,2Be (Quarter 3), and 1,280 (Quarter 4). Sales for the first quarter ef the following year total 1,920 units. Posluszny Inc, has gathered the following budgeting information for next year and has asked you to prepare their master budget. a. Sales for the final quarter of the prior year total 1,600 units. Expected sales (in units) for the current year are: 1,440 (Quarter 1), 960 (Quarter 2), 1,280 (Ouarter 3), and 1,280 (Quarter 4). Sales for the first quarter of the following year total 1,920 units. The selfing price is $490 per unit in the first three quarters of the year, and $510 per unit in the final quarter. b. Company policy calls for a given quarter's ending finished goods inventory to equal 70 s. of the next quarter's expected unit sales. The finished goods inventory at the end of the prior year is 1,008 units, which complies with the policy. The product's manufacturing cost is $211 per unit. including per unit costs of $84 for moterials (6lbs, at $14 per lo). $96 for direct labor (4 hours * $24 direct labor rate per hourt). $19 for variable overhead, and $12 for fared overhead, Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $25,400, fectory utilities, $31,800, and other factory overheod of $6,352. c. Company policy also calls for a given quarter's ending raw materials inventory to equal 505 of next quarter's expectod moterials noeded for production. The prior year-end inventory is 3.312 Ibs of materials, which complies with the policy. The company expects to have 5,760 ibs of materials in inventory at year-end. The company has no work in process inventory at the end of any quarter. d. Sales representatives' commissions are 16% of saies and are paid in the quarter of the sales. The sales manager's quantety salary will be $77,000 in the first three quarters of the year, and $82,000 in the final quarter. e. Quarterly general and administrative expenses include $33,000 adminithative sateries, rent expense of $20,000 per quarter, insurance expense of $16,000 per quartec, staightline depreciation of $16,000 per quarter, and the monthly interest on the $100,000 long term note payable (t2\% annual y) 1. Income tanos wall be assessed at 30% and are paid in the quarter incurred. Mequirement Prepare the Sales Eudget tor pufeluswny the. Sales for the finat ausiter of the priar year tetal 1 , cas anits. Expected sales (in units) for the current year ire: 1,440 (Quarter 1), 960 (Quarter 2), 1.2s0 ceuarter 3) and 1,200 (Quarter 4). Sales for the first guarter of the following year total 1,920 units. The seiling price is s490 per unit tan the firit three querters of the vear, and 4510 per unit in the final quarter. Poskuztny lic. has githered the following budgoting information for novt year and has asked you to prepaie their master budgot. 3. Saies tor the final quarter of the prior year total 1600 units. Expected sales fin units) for the current year are: U40 (Quafter 1), 960 (Quarter 2]), 1,280 (Quarter 3), and 1,280 (Guarter 4) 5 ales for the firs quanter of the following yea totai 1,920 units. The seling price is 5490 per unt in the fiss theee quarters of the yeac, and $510 per unit in the final quarter. 4. Compeny policy cnils for a given quarters ending finished goods inventory to equal 70\% of the next quarte's expected unil sales. The finished goods inventory at the end of the priar year id 1.009 unis, which complies with the policy. The product's manufacturing cost is $211 per unit, including per unt costs of $84 for materials (6 bs. nt 514 per lo). 595 for direct labor (4 hours : $24 direct labor rate per houn. 519 for varinble overhesd, and $12 for fiasd overhead. Aninual fieed cveheod consists, incurred evenly throughout the year, consist of depreciation an production equpment, $25,400; fectory utilies. $31,800 and other foctory overthed of 56,352 . c. Companypolicy also colls tor a given quarter's ending raw materials invertory to ecual 50.s of next quarter's expected materials needed for production. The prier year-end invertory is 3312 los of melefiels, which comples with the policy. The compary expects to have 5.760 bs of Traterials in inventory at year-end. The company has no work in process inventory at the end of any quanter. d. Sales representatives' commiksions are 16s of sales and ale paid in the quarter of the sales. The jates manager's quarterly salary will be 577,000 in the first three suarters of the yeac, and 482.000 in the final quartet - Quantery general and adninistrative expenses include $33.000 admuinintretive salaries, rent eupense of 520,000 per queter, insurance expense of 516,000 per quartet, straightthe deprecietish of $16,000 per quartec and 75 monthy ivierest on the $100,000 long-term note pryeble (i24 osnualy 1 Income taks with be aveeved at jok, and are paid in the queter incurred. wartakic wernead, ond 112 fae froed everhead. Posluszny inc. has gathered the following budgoting information for next year and has asked you to prepare their mastor budget a. Sales for the final quaster of the prior year total 1,600 unts. Expected sales (in units) for the current year are: L440 (Ouaner 1). 960 (Quarter 2), 1,280 (Quarter 3), and 1.280 (Ouarter 4) Sales for the first quarter of the following year total 1,920 units. The selling price is $490 per unit in the first three quarters of the year, and $510 per unit in the final quartec. b. Company policy colis for a given quarter's ending finished goods inventory to equal 70% of the next cuanter's expected unit sales. The finished goods inventory at the end of the prior year is 1008 units, which complos with the policy. The product's manufacturing cost is $211 per unit, including per unit costs of $884 for moterials (6lbs. of $14 per fb). $96 for direct labor (4 hours " $24 direct lebor rate per houl. \$19 for variable overhend, and \$12 for fixed overhesd. Annual fixed ovethesd consists, incurred evenly throughout the year, consist of deprecistion an production equipment, $25,400, factory utlities, $31,800, and oetier factory overhead of $6,352. c. Company policy also cals for a given quarier's ending taw inaterials inventory to equal 50% of next quater's expected materias needed for production. The prior year.end inventory is 3,312 los of malorials, which complies with the policy. The company expects to have 5,760lbs. of moterials in itwentory at yoar.end. Tho company has no work in process inventory at the end of any quarter, d. Swes representatives commissions ayo 16% of sales and we paid in the quarter of the sales. The sales mansger's quartelly salary win be 577,000 in the first three quarters of the yeat and 582,000 in the fina quarter -. Cuartenty generat and administrative expenses include 333,000 administrative soiaries, rent. expense of 520,000 per quarier, insurance expense of 516,000 per quares, straightIne depiecistion of $16,000 per quarsec, and 1x monthyy interest on the $100.000 long-tem note poyable (12x annully! I. Income taies wat be assessed ot 30%, and are peid in the quarter incured. Fequirement Prepare the Butpeted Income statement for the year for Postusamy Ine. Interest on the thace,0so long-term note parabie it 1% per month {12% annyally }. Tacome taxes will be assessed at 30 th, and are gald in the quarter lacurred. Ponluszny Inc. has gathered the following budgeting information for next year and has asked you fo grepare thair master budget. a. Sales for the final quarter of the priot year totai 1.600 units. Expected sales fin units) for the : current year are: 1,440 (Quarter 1), 960 (Duarter 2), 1,280 (Quarter 3), and 1,280 (Ouarter 4). Saies for the first quarter of the following year total 1,920 units. The selling price is 3490 per unit in the fiss three quarters of the year, and $510 per unit in the final quarter. b. Compary policy calls for a given quarter's ending finished goods inventory to equal 70% of the next quarter's expected unit sales. The finished goods inventory at the end of the prior year is 1.008 units, which complies with the policy. The product's manufacturing cost is $211 per unit, inchuding per unit costs of 584 for materials (6 6 bos. at 514 per ib) 396 for direct labor (4 hours = $24 direct labor rate per houn). $19 for vatiable overhend and $12 for fixed overtiead Annual fised overtvead consists, incurred evenly twroughout the yeet, consist of depreciation on production equlpenem, $25,400, fectory uthies, $31,800, and other factory overhed of $6,352. c. Compary policy also calls for a given fuenter's ending raw materials inventory to equal 50 is of next quarter's oxpected materia's needed for production. The price year-end inventory is 3,312 los of materials, which complies with the policy. The company expects to have 5.760 tos. of materials in imventory at year-end. The company has no work in process inventory at the end of ony quarter. d. Sales representatives' commissions are 16% of sales and are paid in the quarter of the saves. The wes mander's quarterly salery wit be $7, 000 in the frist three quarters of the yeac, and 582,000 in the final quanter. - Qubrterly generel and odetiristrative expenses include $33,000 admiristrative salaries, rent. expense of $20,000 per querter, insurance espense of $16,000 per quarter, straightthe deprecietion of $16,000 per quefter, snd tix mantily interest on the 5100,000 lang-tert note payatle (t2:4 annualy). 1. hcome uses will be essessed at 205 , and are paid in the querter incurred. vear, centrid. Porlustmy ine, has gathered the following budgeting information for next year and has asked you to prepare theit master budget. a Sales for the final quarter of the pelor year total 1.600 units. Expected sales fin units) for the cuerent year are: 1,440 (Quarter 1), 960 (Quarter 2), 1,280 (Guarter 3), and 1,280 (Quarter 4). 5 iles for the first cuarter of the following year total 1,920 units. The selling price is $490 per. unit in the first three quarters of the year, and 5510 per unit in the final quarter. b. Compary policy cells for a given qusiter's ending finished goods inventory to equal 70% of the next quarted's expected unit sales. The firished goods inventory at the end of the prior year is 1008 units, which complies with the peficy. The product's manufacturing cost is $211 per unit, including per unit coses of $84 for materiels 6lbs. at $14 per lb). $96 for direct labor 14 hours = $24 direct labor rale per hour), $19 for variable overhend, and $12 for fixed overhead. Annual Exed overhe ed corsists, incurred evenly throughout the yeat, consist of depreciation on production equipment, $25,400, factory utaities, $31,800, and other factory overhed of $6,352. c. Cempany polcy also calis for a given quarter's ending raw materials inventory to equal 50 of next quster's expected materials needed for production. The prior yeiar-end invontory is 3,312 tos of materials, which complies with the policy. The compary expects to have 5,760 bs of materiais in ieventory at yeat-end. The company hos no work in process inventory at the end of any quarter, a. Saies representatives' commissions are 16% of sales and are paid in the quarter of the sales. The saies manajer's quarterfy saiky wit be $77,000 in the first three quarters of the yeac, and 582.000 in the finai c qurter. -. Quaiserily getheral end administrative expenses include $33,000 ad rivistractre salaries, fent espense of $20.000 per quartec, insurance expense of $16.000 per quartec, atyaight. line stppeciation of $16,000 per quertes, and is manthy interest on the $100,000 long-term nete peyable priss arrwaly incone tases witi be assessed at 30x, and are paid in the quarted incured. Fequirement Prepare tha seiling evpesse budget for the Pouluseny Inc. satary wil be 377,000 in the frist three quartars ef the vear, and 182,000 in the tinal ausarter. Porlusany inc, has gathered the following budgeting information for next year and has asked you to grepare their master budiget a. Sales for the final quarter of the ptior year total 1,600 units. Expected sales (in units) for the curreat year are: 1,440 (Quarter 1), 960 (Quarter 2). 1,280 (Quarter 3), and 1,280 (Quarter 4): Saies for the frist quarter of the following year total 1,920 units. The seling price is $490 per unit in the first three quarters of the yeac, and $510 per unit in the final quarter. b. Company policy calts for a given quarter's ending finished goods inventory to equsl 70% af the next quarter's expected un't sales. The frished goods inventery of the end of the priar year is 1,008 units, which comples with the policy. The product's manulacturing cost is $211 per unit, including per unit costs of $84 for materials (5 bas. at $14 per ib). 596 for direct labor (4 hours * $24 drect laboc rate per hour), \$19 for variable overhead, and $12 for fixed overhead. Annual theed ovetheed consists, incuried evenly throughout the year, consist of depreciation on preduction equipment, $25,400; factory undires, $31,800, and other factory overheed of $6,352. c. Company polcy also calls for a given quarter's ending raw materials inventory to equal 50% of next quater's expected materials needed for producton. The prior year-end inventory is 3.312 los of materials, which complies with the pelicy The company expects to have 5760 los of materias in ieventory at yoar-end The company has no work in process inventery at the end of any quarter. d. Sales repretertatives' conmissions are 165 of sales and are paid in the quarter of the sales. The shes manager's quartelly salery wil be 57,000 in the first three quarters of the year, and $82.000 in the final guarec e. Quarterly general and administuative expenses include $33.000 administrstive salaries, rent expense of $20,000 per quartec, insuarance expense of $16,000 per quarter, 5 traighttrue depreciation of 516,000 per quartes and 15 mantily imerest on the 5100,000 tongterin note payoble it2\% arnwally Income taxes will be assesved at 30\%, and are paid in the quarfer incurred. nagulrement Prepare the Administrative Expente nvepet for Postusney the Posiustry inc, has gathered the following budgeting information for next year and has asked you to prepare their master budgot. a. Sales for the final quarter of the prior year total 1,600 units. Expected sales (in units) for the curreat year are: 1,440 (Quarter 1), 960 (Quater 2h, 1.280 (Quarter 3), and 1,280 (Quarter 4). Sales for the fist quarter of the following year total 1,920 units. The selling price is $490 per urit in the first thee quarters of the year, and $510 per unit in the final quarter. b. Company policy colls for a glven quarter's ending linished goods inventory to equal 7os of the next quarter's expected unit sales. The frished goods imventory at the end of the prior year is 1,008 units, which conplies with the policy. The product's manufacturing cost is $211 per unit. including per unit costs of $84 for materiais ( 6 los. at $14 per lb.), $96 for divect labor (4 hours . $24 diect iabor rate per hour). \$19 for variable overhead, and \$12 for fixed overhead. Annual fised overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $25,400, faciory ulities, $31.800, and other factory overhead of $6,352. c. Company policy also calls for a given quater's onding raw materials inverstory to equal 50% of next quarter's expected materials needed for production. The prior yeat-end inventory is 3.312 bo of materials, which complies with the policy. The company expects to have 5.760 fos of materials in invertory at year-ond. The compamy has no work in process inventory at the end of any quarter. d. Sales tepresentatives' commissions are 16% of saies and are pald in the quarter of the sales. The sales manager's ewanelly satary wit be $77,000 in the fost three quarters of the yeat and 582.000 in the tnal quartec. e. Qustery generol and administuative expenses inctude 533,000 sdministrative saleries, reot espense of $20,000 per quartec insurance expense of $16,000 per quatec, straightSine depreciation of $16,000 per quertet, nad Fis monthly interest on the $100,000 long-teim nole payitle (12% annuali 1 thoome wewt wit be astesped at 30%, and are paid in the quarter incurred. Inequirement Uning infermatien from the waies budget ane the following intormation, calculate the thodgeted cost ar goods sold