Swenson, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2016, follow:
Sales Budget | ||||
March 31st | June 30th | September 30th | Quarter | |
Budgeted Unit Sales=(A) | 120000 | 170000 | 145000 | 435000 |
Swenson, Inc. | ||||
Schedule of Selling & Administrative Expense Budget | ||||
Quarter ended March 31st | Quarter ended June 30th | Quarter ended September 30th | Nine months total | |
Variable Expenses | ||||
Commission=3% on Sales | $ 3,600.00 | $ 5,100.00 | $ 4,350.00 | $ 13,050.00 |
Miscellaneous Expense=2% on sales | $ 2,400.00 | $ 3,400.00 | $ 2,900.00 | $ 8,700.00 |
Total Variable Expense=(A) | $ 6,000.00 | $ 8,500.00 | $ 7,250.00 | $ 21,750.00 |
Fixed Expenses | ||||
Salaries Expense | $ 9,000.00 | $ 9,000.00 | $ 9,000.00 | $ 27,000.00 |
Rent Expense | $ 7,500.00 | $ 7,500.00 | $ 7,500.00 | $ 22,500.00 |
Depreciation Expense | $ 3,900.00 | $ 3,900.00 | $ 3,900.00 | $ 11,700.00 |
Total Fixed Expenses=(B) | $ 20,400.00 | $ 20,400.00 | $ 20,400.00 | $ 61,200.00 |
Total Selling & Administrative Expenses=(A)+(B) | $ 26,400.00 | $ 28,900.00 | $ 27,650.00 | $ 82,950.00 |
Working | ||||
March 31st | June 30th | September 31st | ||
Commission 3% on sales | ($120000*3%) | ($170000*3%) | ($145000*3%) | |
Miscellaneous Expenses | ($120000*2%) | ($170000*2%) | ($145000*2%) | |
Rent | ($2500*3) | ($2500*3) | ($2500*3) | |
Salaries | ($3000*3) | ($3000*$3) | ($3000*3) | |
Depreciation Expense | ($1300*3) | ($1300*$3) | ($1300*3) |
Swenson, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold...
Swenson, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2018, follow: Swenson, Inc. Sales Budget Nine Months Ended September 30, 2018 Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 30% $45,000 $60,000 $52,500 $157,500 Credit sales, 70% 105,000 140,000 122,500 367,500 Total sales $150,000 $200,000 $175,000 $525,000 Swenson, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September...
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Swenson's selling and administrative expenses include the following: (Click the icon to view the expenses.) Swenson, Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2018, follow: (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Prepare a selling and administrative expense budget for each of the three quarters of 2018 and totals for the nine-month period. Swenson,...
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Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak hich occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: April $ 440,000 308,000 132,000 May S 970,000 679,000 291,000 June $ 420,000 294,000 126,000 July $ 320,000 224,000 96,000 Sales...