Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Sales (14,000 units) Cost

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following Sales (14,000 units) Cost of goods sold $2,814,000 Direct materials Direct labor Production supplies Plant manager salary $322,000 616,000 378,000 122,000 1,438,000 Gross profit Selling expenses 1,376,000 Sales commissions Packaging 112,000 210,000 100,000422,000 Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent 172,000 142,000 112,000 122,000 548,000 $ 406,000 Income from operations Complete the following flexible budgets for sales volumes of 12,000, 14,000, and 16,000 units. (Round cost per unit to 2 decimal places.) TEMPO COMPANY Flexible Budgets For Quarter Ended March 31, 2017 Flexible Budget at ..Flexible Budget Variable Total Fixed 12,000 units 14,000 units units Amount per Cost Unit Complete the following flexible budgets for sales volumes of 12,000, 14,000, and 16,000 units. (Round cost per unit to 2 decimal places.) TEMPO COMPANY Flexible Budgets For Quarter Ended March 31, 2017 Flexible Budget Flexible Budget at Variable Total Fixed 12,000 units 14,000 units 16,000 Amount per Cost Unit Variable costs 0.00 Fixed costs Bloom Company management predicts that it will incur fixed costs of $265,000 and earn pretax income of $367,500 in the next period. Its expected contribution margin rto is 55%. Required 1. Compute the amount of total dollar sales 2. Compute the amount of total variable costs Complete this question by entering your answers in the tabs below Required 1Required 2 Compute the amount of total dollar sales Dollar Sales Choose Denominator: Choose Numerator: , Total Dollar Sales Total dollar sales Required 2> Bloom Company management predicts that it will incur fixed costs of $265,000 and earn pretax income of $367,500 in the next period. Its expected contribution margin ratio is 55%. Required: 1. Compute the amount of total dollar sales 2. Compute the amount of total variable costs. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount of total variable costs Sales Fixed costs Pretax income Variable costs Required 1

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_2

Step: 3

blur-text-image_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

Interpretation And Application Of International Standards On Auditing

Authors: Steven Collings

1st Edition

0470661127, 978-0470661123

More Books

Students also viewed these Accounting questions