Question
Swifty & Ivanhoe Fabricators produces commemorative bricks that organizations use for fundraising projects. Donald Swifty, the company's vice president of marketing, has prepared the following
Swifty & Ivanhoe Fabricators produces commemorative bricks that organizations use for fundraising projects. Donald Swifty, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $22 each.
January | February | March | April | May | June | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
25,000 | 28,000 | 32,000 | 34,000 | 26,000 | 35,000 |
Swifty & Hill Fabricators' marketing department has identified the following monthly expenses that will be needed to support the company's sales and administrative functions.
Depreciation | $14,000 | ||
Sales staff salaries | $26,000 | ||
Advertising | $2,400 | ||
Executive salaries | $37,000 | ||
Miscellaneous | $1,600 |
In addition to these monthly expenses, the company will pay a commission to its salespeople equal to 8% of the sales revenue from each brick sold. The company expects bad debt expense to be 2% of sales revenue. Prepare Swifty & Hill's selling and administrative expense budget for the first quarter of the coming year.
January | February | March | Quarter | |||||
---|---|---|---|---|---|---|---|---|
select an item CommissionAdvertisingDepreciationSales Staff SalariesExecutive SalariesMiscellaneousBad Debt Expense | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | ||||
select an item DepreciationMiscellaneousCommissionExecutive SalariesAdvertisingBad Debt ExpenseSales Staff Salaries | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select an item Sales Staff SalariesAdvertisingCommissionExecutive SalariesBad Debt ExpenseDepreciationMiscellaneous | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select an item DepreciationAdvertisingSales Staff SalariesMiscellaneousCommissionExecutive SalariesBad Debt Expense | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select an item CommissionAdvertisingSales Staff SalariesDepreciationMiscellaneousBad Debt ExpenseExecutive Salaries | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select an item DepreciationCommissionExecutive SalariesBad Debt ExpenseSales Staff SalariesMiscellaneousAdvertising | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select an item CommissionExecutive SalariesDepreciationSales Staff SalariesAdvertisingMiscellaneousBad Debt Expense | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select a closing name for section one Total Budgeted ExpensesBudgeted ExpensesTotal Budgeted RevenuesBudgeted RevenuesTotal Cash CostsNon-Cash Expenses | $enter a total amount for section one | $enter a total amount for section one | $enter a total amount for section one | $enter a total amount for section one | ||||
select between addition and deduction AddLess : select an opening name for section two Budgeted RevenuesTotal Budgeted ExpensesBudgeted ExpensesTotal Budgeted RevenuesNon-Cash ExpensesTotal Cash Costs | ||||||||
select an item CommissionBad Debt ExpenseAdvertisingSales Staff SalariesMiscellaneousDepreciationExecutive Salaries | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select an item AdvertisingCommissionMiscellaneousExecutive SalariesBad Debt ExpenseDepreciationSales Staff Salaries | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||||
select a closing name for this budget Budgeted ExpensesTotal Budgeted RevenuesBudgeted RevenuesTotal Budgeted ExpensesNon-Cash ExpensesTotal Cash Costs | $enter a total amount | $enter a total amount | $enter a total amount | $enter a total amount |
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