Question
In: Accounting
Valotic Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a...
Valotic Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended January 31 is as follows:
|
1 |
Customer service salaries |
$546,840.00 |
|
2 |
Insurance and property taxes |
114,660.00 |
|
3 |
Distribution salaries |
872,340.00 |
|
4 |
Marketing salaries |
1,028,370.00 |
|
5 |
Engineer salaries |
836,850.00 |
|
6 |
Warehouse wages |
586,110.00 |
|
7 |
Equipment depreciation |
183,792.00 |
|
8 |
Total |
$4,168,962.00 |
During January, the costs incurred in the Consumer Products Division were as follows:
|
1 |
Customer service salaries |
$602,350.00 |
|
2 |
Insurance and property taxes |
110,240.00 |
|
3 |
Distribution salaries |
861,200.00 |
|
4 |
Marketing salaries |
1,085,230.00 |
|
5 |
Engineer salaries |
820,008.00 |
|
6 |
Warehouse wages |
562,632.00 |
|
7 |
Equipment depreciation |
183,610.00 |
|
8 |
Total |
$4,225,270.00 |
| Required: | |
|---|---|
| 1. | Prepare a budget performance report for the director of the Consumer Products Division for the month of January. Enter all amounts as positive numbers. |
| 2. | For which costs might the director be expected to request supplemental reports? |
1. Prepare a budget performance report for the director of the Consumer Products Division for the month of January. Enter all amounts as positive numbers.
|
Valotic Tech Inc. |
|
Budget Performance Report—Director, Consumer Products Division |
|
For the Month Ended January 31 |
|
1 |
Budget |
Actual |
Over Budget |
Under Budget |
|
|
2 |
Customer service salaries |
||||
|
3 |
Insurance and property taxes |
||||
|
4 |
Distribution salaries |
||||
|
5 |
Marketing salaries |
||||
|
6 |
Engineer salaries |
||||
|
7 |
Warehouse wages |
||||
|
8 |
Equipment depreciation |
||||
|
9 |
Total |
|
2. For which costs might the director be expected to request supplemental reports?
All salaries: customer service, distribution, marketing, and engineer.
Customer service and marketing salaries as well as warehouse wages.
Marketing salaries.
Customer service salaries.
Warehouse wages and engineer salaries.
Customer service and marketing salaries.
Solutions
Expert Solution
| Valotic Tech Inc. | ||||
| Budget Performance Report—Director, Consumer Products Division | ||||
| For the Month Ended January 31 | ||||
| Budget | Budget | Actual | Over Budget | Under Budget |
| Customer service salaries | $ 5,46,840.00 | $ 6,02,350.00 | $ 55,510.00 | |
| Insurance and property taxes | $ 1,14,660.00 | $ 1,10,240.00 | $ 4,420.00 | |
| Distribution salaries | $ 8,72,340.00 | $ 8,61,200.00 | $ 11,140.00 | |
| Marketing salaries | $ 10,28,370.00 | $ 10,85,230.00 | $ 56,860.00 | |
| Engineer salaries | $ 8,36,850.00 | $ 8,20,008.00 | $ 16,842.00 | |
| Warehouse wages | $ 5,86,110.00 | $ 5,62,632.00 | $ 23,478.00 | |
| Equipment depreciation | $ 1,83,792.00 | $ 1,83,610.00 | $ 182.00 | |
| Total | $ 41,68,962.00 | $ 42,25,270.00 | $ 1,12,370.00 | $ 56,062.00 |
| Hence there is no additional data in the question, second part can only be answered like the following | ||||
| All salaries: customer service, distribution, marketing, and engineer. | ||||
| Budget | Budget | Actual | Over Budget | Under Budget |
| Customer service salaries | $ 5,46,840.00 | $ 6,02,350.00 | $ 55,510.00 | |
| Distribution salaries | $ 8,72,340.00 | $ 8,61,200.00 | $ 11,140.00 | |
| Marketing salaries | $ 10,28,370.00 | $ 10,85,230.00 | $ 56,860.00 | |
| Engineer salaries | $ 8,36,850.00 | $ 8,20,008.00 | $ 16,842.00 | |
| Total | $ 32,84,400.00 | $ 33,68,788.00 | $ 1,12,370.00 | $ 27,982.00 |
| Customer service and marketing salaries as well as warehouse wages | ||||
| Budget | Budget | Actual | Over Budget | Under Budget |
| Customer service salaries | $ 5,46,840.00 | $ 6,02,350.00 | $ 55,510.00 | |
| Marketing salaries | $ 10,28,370.00 | $ 10,85,230.00 | $ 56,860.00 | |
| Warehouse wages | $ 5,86,110.00 | $ 5,62,632.00 | $ 23,478.00 | |
| Total | $ 21,61,320.00 | $ 22,50,212.00 | $ 1,12,370.00 | $ 23,478.00 |
| Marketing salaries. | ||||
| Budget | Budget | Actual | Over Budget | Under Budget |
| Marketing salaries | $ 10,28,370.00 | $ 10,85,230.00 | $ 56,860.00 | |
| Total | $ 10,28,370.00 | $ 10,85,230.00 | $ 56,860.00 | $ - |
| Customer service salaries. | ||||
| Budget | Budget | Actual | Over Budget | Under Budget |
| Customer service salaries | $ 5,46,840.00 | $ 6,02,350.00 | $ 55,510.00 | |
| Total | $ 5,46,840.00 | $ 6,02,350.00 | $ 55,510.00 | $ - |
| Warehouse wages and engineer salaries. | ||||
| Budget | Actual | Over Budget | Under Budget | |
| Engineer salaries | $ 8,36,850.00 | $ 8,20,008.00 | $ 16,842.00 | |
| Warehouse wages | $ 5,86,110.00 | $ 5,62,632.00 | $ 23,478.00 | |
| Total | $ 14,22,960.00 | $ 13,82,640.00 | $ - | $ 40,320.00 |
| Customer service and marketing salaries. | ||||
| Budget | Budget | Actual | Over Budget | Under Budget |
| Customer service salaries | $ 5,46,840.00 | $ 6,02,350.00 | $ 55,510.00 | |
| Marketing salaries | $ 10,28,370.00 | $ 10,85,230.00 | $ 56,860.00 | |
| Total | $ 15,75,210.00 | $ 16,87,580.00 | $ 1,12,370.00 | $ - |
ekkarill92 answered 11 months agoRelated Solutions
Valotic Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a...
Valotic Tech Inc. sells electronics over the Internet. The Consumer
Products Division is organized as a cost center. The budget for the
Consumer Products Division for the month ended January 31 is as
follows:
1
Customer service salaries
$546,840.00
2
Insurance and property taxes
114,660.00
3
Distribution salaries
872,340.00
4
Marketing salaries
1,028,370.00
5
Engineer salaries
836,850.00
6
Warehouse wages
586,110.00
7
Equipment depreciation
183,792.00
8
Total
$4,168,962.00
During January, the costs incurred in the Consumer Products
Division were as...
Arlo Tech Inc. has an Automotive and a Consumer Products Division. The two divisions share a...
Arlo Tech Inc. has an Automotive and a Consumer Products
Division. The two divisions share a distribution warehouse in
another city. The space in the warehouse is allocated 60% to
Automotive and 40% to Consumer Products. The warehouse manager
spends about 70% of his time working on Consumer Products matters
and 30% on Automotive matters. The total cost of running the
warehouse is $1,000,000 a year, all of this cost is considered a
fixed cost. How much of the annual...
Tech Supplies Company, Incorporated, is a leading retailer specializing in consumer electronics
Tech Supplies Company, Incorporated, is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended February 1, 2020, are shown below.Tech Supplies Company, IncorporatedBalance SheetAt February 1, 2020($ in millions)Assets Current assets: Cash and cash equivalents$ 2,106Accounts receivable (net)1,227Inventory5,064Other current assets418Total current assets8,815Long-term assets3,698Total assets$ 12,513Liabilities and Shareholders’ Equity Current liabilities: Accounts payable$ 5,100Other current liabilities3,775Total current liabilities8,875Long-term liabilities2,242Shareholders’ equity1,396Total liabilities and shareholders’ equity$ 12,513Tech Supplies Company, IncorporatedIncome StatementFor the Year...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics...
Gary Stevens and Mary James are production managers in the
Consumer Electronics Division of General Electronics Company, which
has several dozen plants scattered in locations throughout the
world. Mary manages the plant located in Des Moines, Iowa, while
Gary manages the plant in El Segundo, California. Production
managers are paid a salary and get an additional bonus equal to 5%
of their base salary if the entire division meets or exceeds its
target profits for the year. The bonus is...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics...
Gary Stevens and Mary James are production managers in the
Consumer Electronics Division of General Electronics Company, which
has several dozen plants scattered in locations throughout the
world. Mary manages the plant located in Des Moines, Iowa, while
Gary manages the plant in El Segundo, California. Production
managers are paid a salary and get an additional bonus equal to 5%
of their base salary if the entire division meets or exceeds its
target profits for the year. The bonus is...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics...
Gary Stevens and Mary James are production managers in the
Consumer Electronics Division of General Electronics Company, which
has several dozen plants scattered in locations throughout the
world. Mary manages the plant located in Des Moines, Iowa, while
Gary manages the plant in El Segundo, California. Production
managers are paid a salary and get an additional bonus equal to 10%
of their base salary if the entire division meets or exceeds its
target profits for the year. The bonus is...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics...
Gary Stevens and Mary James are production managers in the
Consumer Electronics Division of General Electronics Company, which
has several dozen plants scattered in locations throughout the
world. Mary manages the plant located in Des Moines, Iowa, while
Gary manages the plant in El Segundo, California. Production
managers are paid a salary and get an additional bonus equal to 10%
of their base salary if the entire division meets or exceeds its
target profits for the year. The bonus is...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics...
Gary Stevens and Mary James are production managers in the
Consumer Electronics Division of General Electronics Company, which
has several dozen plants scattered in locations throughout the
world. Mary manages the plant located in Des Moines, Iowa, while
Gary manages the plant in El Segundo, California. Production
managers are paid a salary and get an additional bonus equal to 10%
of their base salary if the entire division meets or exceeds its
target profits for the year. The bonus is...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics...
Gary Stevens and Mary James are production managers in the
Consumer Electronics Division of General Electronics Company, which
has several dozen plants scattered in locations throughout the
world. Mary manages the plant located in Des Moines, Iowa, while
Gary manages the plant in El Segundo, California. Production
managers are paid a salary and get an additional bonus equal to 10%
of their base salary if the entire division meets or exceeds its
target profits for the year. The bonus is...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics...
Gary Stevens and Mary James are production managers in the
Consumer Electronics Division of General Electronics Company, which
has several dozen plants scattered in locations throughout the
world. Mary manages the plant located in Des Moines, Iowa, while
Gary manages the plant in El Segundo, California. Production
managers are paid a salary and get an additional bonus equal to 10%
of their base salary if the entire division meets or exceeds its
target profits for the year. The bonus is...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- What are the major types of customer or patient service-level issues that exist in health care?
- 1. Does it deviate from culture norms for what is acceptable? 2. Is it maladaptive? 3....
- Environment The environment is one of the most influential sectors in recent ycars . So, the...
- The cash account for American Medical Co. at April 30 indicated a balance of $334,985. The...
- Demographers have noted that the world’s population distribution will undergo a major shift in the next...
- (Subject is Marketing Management MGT-201) Personal selling is one of the oldest forms of marketing communication;...
- (Subject is Marketing Management MGT-201) A business plan identifies the responsibilities of general management as they...
ADVERTISEMENT