Question

tuition in September. Pay rent at the beginning of each month. Pay for food each month. Pay apartment deposit on September 2 (to be returned December 15) Part-time job earnings each month (net of taxes) a. Prepare a cash budget for September, October, November, and December. b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? What are the budget implications for Katherine Malloy? 275 3,700 600 235 500 1,400 c. EX 22-2 OBJ. 2,4 Flexible budget for selling and administrative expenses for a service company Morningside Technologies Inc. uses flexible budgets that are based on the following data: Sales commissions Advertising expense. Miscellaneous administrative expense Office salaries expense Customer support expenses.. Research and development expense.. Prepare a flexible selling and administrative expenses budget for April for sales volumes of $400,000, $500,000, and $600,000. 15% of sales 12% of sales $8,000 per month plus 10% of sales $32,000 per month $14,000 per month plus 18% of sales $35,000 per month EX 22-3 Static budget versus flexible budget OBJ. 2,4 The production supervisor of the Machining Department for Niland Company agreed to the following monthly static budget for the upcoming year: Niland Company Machining Department

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Answer 1

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Morningside				Note
Sales Volume	$400,000	$500,000	$600,000	A
Sales commission	60,000.00	75,000.00	90,000.00	B=A*15%
Advertising Expense	48,000.00	60,000.00	72,000.00	C=A*12%
Misc. Admin Expense	48,000.00	58,000.00	68,000.00	D=8000+ A*10%
Office salaries Expense	32,000.00	32,000.00	32,000.00	Fixed amount
Customer support Expense	86,000.00	104,000.00	122,000.00	E=14000+ A*18%
R & D Expense	35,000.00	35,000.00	35,000.00	Fixed amount
Selling & Admin Budget	309,000.00	364,000.00	419,000.00