Homework Answers
| Data Given in question | ||||||||
| Particulars | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||
| Sales in Units | 20,000 | 40,000 | 35,000 | 15,000 | ||||
| Selling Price Per Unit | 50 | 55 | 54 | 50 | ||||
| Sales value in $ | 1,000,000 | 2,200,000 | 1,890,000 | 750,000 | ||||
| Cost of Goods Sold Per Unit | 30 | 31 | 33 | 33 | ||||
| Cost of Goods Sold $ | 600,000 | 1,240,000 | 1,155,000 | 495,000 | ||||
| Sales Commission Percent | 10% | 10% | 10% | 10% | ||||
| Salaries Expense | 120,000 | 193,000 | 170,000 | 115,000 | ||||
| Advertising Expense | 50,000 | 100,000 | 90,000 | 40,000 | ||||
| Rent Expense | 30,000 | 30,000 | 35,000 | 30,000 | ||||
| Shipping Expense | 20,000 | 40,000 | 20,000 | 15,000 | ||||
| Utilities Expense | 10,000 | 10,000 | 10,000 | 10,000 | ||||
| Total expenses | 230,000 | 373,000 | 325,000 | 210,000 | ||||
| Income Statement | ||||||||
| Cell Reference | Particulars | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | Total | ||
| A | Sales | 1,000,000 | 2,200,000 | 1,890,000 | 750,000 | 5,840,000 | ||
| B | Cost of goods sold | 600,000 | 1,240,000 | 1,155,000 | 495,000 | 3,490,000 | ||
| C=A-B | Gross Profit | 400,000 | 960,000 | 735,000 | 255,000 | 2,350,000 | ||
| Operating expenses | ||||||||
| D | Sales Commission Percent | 100,000 | 220,000 | 189,000 | 75,000 | 584,000 | ||
| E | Salaries Expense | 120,000 | 193,000 | 170,000 | 115,000 | 598,000 | ||
| F | Advertising Expense | 50,000 | 100,000 | 90,000 | 40,000 | 280,000 | ||
| G | Rent Expense | 30,000 | 30,000 | 35,000 | 30,000 | 125,000 | ||
| H | Shipping Expense | 20,000 | 40,000 | 20,000 | 15,000 | 95,000 | ||
| I | Utilities Expense | 10,000 | 10,000 | 10,000 | 10,000 | 40,000 | ||
| J=D+E+F+G+H+I | Total expenses | 330,000 | 593,000 | 514,000 | 285,000 | 1,722,000 | ||
| K=C-J | Operating income | 70,000 | 367,000 | 221,000 | (30,000) | 628,000 | ||
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I need a help with the solution for the Master Budget
Performance Report and Flexible Budget Performance Report in the
tables given, based on the Budget assumptions given in the same
attachment.
I need help with the formulas for excel.
Thank You!
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