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Pebco Company’s 2011 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. |
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PEBCO COMPANY Fixed Budget Report For Year Ended December 31, 2011 |
| Sales | $ | 3,000,000 | |||
| Cost of goods sold | |||||
| Direct materials | $ | 990,000 | |||
| Direct labor | 225,000 | ||||
| Machinery repairs (variable cost) | 75,000 | ||||
| Depreciation—plant equipment | 300,000 | ||||
| Utilities ($50,000 is variable) | 200,000 | ||||
| Plant management salaries | 230,000 | 2,020,000 | |||
| Gross profit | 980,000 | ||||
| Selling expenses | |||||
| Packaging | 80,000 | ||||
| Shipping | 110,000 | ||||
| Sales salary (fixed annual amount) | 260,000 | 450,000 | |||
| General and administrative expenses | |||||
| Advertising expense | 135,000 | ||||
| Salaries | 251,000 | ||||
| Entertainment expense | 100,000 | 486,000 | |||
| Income from operations | $ | 44,000 | |||
| Pebco Company’s actual income statement for 2011 follows. |
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PEBCO COMPANY Statement of Income from Operations For Year Ended December 31, 2011 |
| Sales (18,000 units) | $ | 3,663,000 | |||
| Cost of goods sold | |||||
| Direct materials | $ | 1,204,000 | |||
| Direct labor | 278,000 | ||||
| Machinery repairs (variable cost) | 82,000 | ||||
| Depreciation—plant equipment | 300,000 | ||||
| Utilities (fixed cost is $147,500) | 206,750 | ||||
| Plant management salaries | 240,000 | 2,310,750 | |||
| Gross profit | 1,352,250 | ||||
| Selling expenses | |||||
| Packaging | 94,000 | ||||
| Shipping | 124,500 | ||||
| Sales salary (annual) | 277,000 | 495,500 | |||
| General and administrative expenses | |||||
| Advertising expense | 144,000 | ||||
| Salaries | 251,000 | ||||
| Entertainment expense | 103,500 | 498,500 | |||
| Income from operations | $ | 358,250 | |||
| Required: | |
| 1. |
Prepare a flexible budget performance report for 2011. (Do not round your intermediate calculations and round your final answers to nearest dollar amount. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) |
| PEBCO COMPANY |
| Flexible Budget Performance Report |
| For Year Ended December 31, 2011 |
| Flexible | Actual | ||||||
| Budget | Results | Variances | |||||
| (Click to select)Sales salarySalariesAdvertising expenseUtilitiesSales | $ | $ | $ | (Click to select)UNoneF | |||
| Variable costs | |||||||
| (Click to select)Entertainment expenseDirect materialsSales salaryAdvertising expenseDepreciation-plant equipment | (Click to select)UFNone | ||||||
| (Click to select)Advertising expenseEntertainment expenseSalariesDepreciation-plant equipmentDirect labor | (Click to select)NoneFU | ||||||
| (Click to select)Sales salaryDepreciation-plant equipmentMachinery repairsSalariesEntertainment expense | (Click to select)NoneUF | ||||||
| (Click to select)Entertainment expenseSalariesAdvertising expenseUtilitiesSales salary | (Click to select)UNoneF | ||||||
| (Click to select)SalariesPlant management salariesEntertainment expenseAdvertising expensePackaging | (Click to select)FNoneU | ||||||
| (Click to select)ShippingSales salariesEntertainment expensePlant management salariesDepreciation-plant equipment | (Click to select)NoneFU | ||||||
| Total variable costs | (Click to select)NoneUF | ||||||
| (Click to select)Gross marginContribution margin | (Click to select)NoneUF | ||||||
| Fixed costs | |||||||
| (Click to select)Direct materialsShippingPackagingDepreciation-plant equipmentMachinery repairs | (Click to select)NoneUF | ||||||
| (Click to select)Direct materialsDirect laborPackagingShippingUtilities | (Click to select)NoneUF | ||||||
| (Click to select)Direct laborDirect materialsPlant management salariesMachinery repairsShipping | (Click to select)UNoneF | ||||||
| (Click to select)Direct laborPackagingDirect materialsSales salaryMachinery repairs | (Click to select)NoneUF | ||||||
| (Click to select)PackagingDirect materialsShippingAdvertising expenseDirect labor | (Click to select)NoneFU | ||||||
| (Click to select)Direct materialsPackagingMachinery repairsSalariesShipping | (Click to select)UFNone | ||||||
| (Click to select)ShippingPackagingMachinery repairsDirect materialsEntertainment expense | (Click to select)NoneFU | ||||||
| Total fixed costs | (Click to select)UFNone | ||||||
| Income from operations | $ | $ | $ | (Click to select)FUNone | |||
In: Accounting
Designing and implementing a C++ structure data type - Monthly Budget
Remember to use correct code formatting and documentation.
A student has established the following monthly budget:
Budget Categories Budgeted amount
-----------------------------------------------------
Housing $ 580.00
Utilities $ 150.00
Household Expenses $ 65.00
Transportation $ 50.00
Food $ 250.00
Medical $ 30.00
Insurance $ 100.00
Entertainment $ 150.00
Clothing $ 75.00
Miscellaneous $ 50.00
----------------------------------------------------
Write a program that declares a MonthlyBudget structure designed with member variables to hold each of these expense categories. The program should define two MonthlyBudget structure variables budget and spent. The first MonthlyBudget structure variable budget will contain (ie., be assigned) the budget figures given above. Pass this first structure >budget variable to a function displayBudget that will display the budget categories along with the budgeted amounts.
The second MonthlyBudget structure variable spent will be passed to another function getExpenses that should create a screen form that displays each category name and its budgeted amount, then positions the cursor next to it for the user to enter the amounts actually spent in each budget category during the past month.
Finally, the program should then pass both structure variables budget and spent to a function compareExpenses that displays a report indicating the amount over or under budget the student spent in each category, as well as the amount over or under for the entire monthly budget.
You may design your own user-input interface but you must use a structure and must implement the three functions listed above. The format of the monthly budgeted report should appear as similar as possible to the sample output shown below.
HINT: Use the setw and right manipulators to right-justify dollar value outputs in function compareExpenses.
INPUT VALIDATION: Do not accept negative values for the users actual expenditure inputs in function getExpenses.
A sample test run using the Code::Block IDE-CompilerHere is your monthly budget for YEAR 2020:
Housing $ 580
Utilities $ 150
Household $ 65
Transportation $ 50
Food $ 250
Medical $ 30
Insurance $ 100
Entertainment $ 150
Clothing $ 75
Miscellaneous $ 50
=================================================
Total Budgeted $ 1500
=================================================
Enter month of expenditure: March
Enter actual monthly expenditures for each budget category
Housing: $ 580
Utilities: $ 130
Household: $ 50
Transportation:$ 50
Food: $ 230
Medical: $ 30
Insurance: $ 100
Entertainment: $ 120
Clothing: $ -10
ERROR: You must enter a positive number.
Clothing: $ 100
Miscellaneous: $ 30
Budgeted Spent Difference
=================================================
Housing 580.00 580.00 0.00
Utilities 150.00 130.00 -20.00
Household 65.00 50.00 -15.00
Transportation 50.00 50.00 0.00
Food 250.00 230.00 -20.00
Medical 30.00 30.00 0.00
Insurance 100.00 100.00 0.00
Entertainment 150.00 120.00 -30.00
Clothing 75.00 100.00 25.00
Miscellaneous 50.00 30.00 -20.00
=================================================
Total 1500.00 1420.00 80.00
=================================================
Congratulations! You were $80.00 under budget in March 2020.
Process returned 0 (0x0) execution time : 104.850 s
Press any key to continue.
Please make sure to declare your struct above your function prototypes and include appropriate function documentation as needed. You may use pointers or constant reference parameters when passing the structure variables to the functions mentioned above. DO NOT use global variables.
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Case 1: Telecommunications
Johnny enters into a 12-month telecom plan with the local mobile operator ABC. The terms of plan are as follows:
ABC sells the same handsets for RM300 and the same monthly prepayment plans without handset for RM80/month.
How should ABC recognize the revenues from this plan in line with MFRS 118 and MFRS 15?
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example of Reporting Net vs. Gross Revenue"
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Marginal revenue for a firm in a competitive market is constant, but this is not the case for a monopolist. So, the marginal revenue of a monopolist might change for different quantities of production. Please explain why.
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Please explain oil and gas revenue in detail.
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Table 1
Quantity Total Revenue
0 $0
1 $5
2 $10
3 $15
4 $20
Refer to Table 1. For this firm, the average revenue is
$0.00
$5.00
$15.00
$20.00
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What is a revenue variance and what does it mean?
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8) For a perfectly competitive firm, marginal revenue is
A) equal to the price.
B) less than the price.
C) undefined because the firm's demand curve is horizontal.
D) greater than the price.
and
10) A perfectly competitive firm will maximize profit when the quantity produced is such that the
A) firm's marginal revenue is equal to its marginal cost.
B) price exceeds the firm's marginal cost by as much as possible.
C) firm's marginal revenue exceeds its marginal cost by the maximum amount possible.
D) firm's total revenue is equal to total cost.
In: Economics