Questions
Pebco Company’s 2011 master budget included the following fixed budget report. It is based on an...

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.

  

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.
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...

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.

In: Computer Science

Accounting for Revenue I - Example MFRS 15

Case 1: Telecommunications

Johnny enters into a 12-month telecom plan with the local mobile operator ABC. The terms of plan are as follows:

  • Johnny’s monthly fixed fee is RM100.
  • Johnny receives a free handset at the inception of the plan.

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?

In: Accounting

example of Reporting Net vs. Gross Revenue"

example of Reporting Net vs. Gross Revenue"

In: Accounting

Marginal revenue for a firm in a competitive market is constant, but this is not the...

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.

In: Economics

Please explain oil and gas revenue in detail.

Please explain oil and gas revenue in detail.

In: Accounting

An increase in price will result in no change in total revenue if: * A) the...


An increase in price will result in no change in total revenue if: *
A) the percentage change in price is large enough to cause quantity demanded to fall to zero.
B) the coefficient of elasticity is equal to zero.
C) the percentage change in quantity demanded is equal to the percentage change in price (in absolute values).
D) the demand function is perfectly elastic.
Assume the demand for a good is price inelastic, i.e., ed < 1 (in absolute value). This means that if price decreases by 50 percent, quantity demanded will: *
A) increase by more than 50 percent.
B) decrease by more than 50 percent.
C) increase by less than 50 percent.
D) decrease by less than 50 percent.
As the percentage of the consumer's income accounted for by a particular good decreases, demand for the good will: *
A) tend to become more price elastic.
B) tend to become more price inelastic.
C) tend to become closer to unit elastic.
D) tend toward being perfectly elastic.
For an inferior good, the income elasticity of demand is: *
A) positive or negative depending on the share of income accounted for by the good.
B) always negative
C) positive if income increases and negative when income declines.
D) always equal to 1.
"Supply" is best defined as the relationship between: *
A) the current price of a good and the quantity supplied at that price.
B) the price of a good or service and the quantity supplied by producers at each price during a period of time.
C) the cost of producing a good and the price consumers are willing to pay for it.
D) the quantity supplied and the price people are willing to pay for a good.
Which of the following would cause a change in supply, as opposed to a change in quantity supplied, in the market for purchasing new homes? *
A) A decrease in the price of rental housing.
B) A decrease in the price of new homes
C) An increase in the incomes of home buyers.
D) An increase in the number of buyers in the market for used homes.
Many people consider lentils to be an inferior good. For such people, all else held constant, an increase in income would cause their demand for lentils to: *
A) increase.
B) stay the same.
C) decrease.
D) cannot be determined with the information given.
Suppose the demand for good X is given by Q_x^d = 300 – 15Px + 20Py - 60I , where Px is the price of good X. Py is the price of some other good Y, and I is income. Assume that Px is currently $50, Py is currently $100, and I is currently $1200 *
A) Goods X and Y are complement goods
B) The supply is elastic
C) Good Y is a normal good
D) Good X is an inferior good
The price elasticity of demand is calculated as: *
A) the change in price divided by the change in quantity demanded.
B) the change in quantity demanded divided by the change in price.
C) the percentage change in price divided by the percentage change in quantity demanded.
D) the percentage change in quantity demanded divided by the percentage change in price.
Which of the following pairs of goods would be expected to have a positive cross-price elasticity of demand? *
A) coffee and tea.
B) gasoline and cars
C) tennis racquets and tennis balls.
D) hot dogs and hot dog buns.
As the price of socks increases, what would reasonably be expected to happen to the equilibrium price and equilibrium quantity of shoes? (Socks and shoes are complements.) *
A) Equilibrium price would increase and equilibrium quantity would decrease.
B) Equilibrium price and quantity would both decrease.
C) Equilibrium price would decrease and equilibrium quantity would increase.
D) Equilibrium price and quantity would both increase.
As we move up the demand curve, the price elasticity of demand *
A) increases
B) decreases
C) becomes unitary
D) does not change
If the price of lemonade increases relative to the price of grape juice, the demand for: *
A) grape juice will decrease.
B) grape juice will increase.
C) lemonade will decrease.
D) lemonade will increase.
Suppose a consumer's income increases from $30,000 to $36,000. As a result, the consumer increases her purchases of compact disks (CDs) from 25 CDs to 30 CDs. What is the consumer's income elasticity of demand for CDs? *
A) 0.5
B) 1.0
C) 1.5
D) 2.0

In: Economics

Refer to Table 1. For this firm, the average revenue is

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

In: Economics

What is a revenue variance and what does it mean?

What is a revenue variance and what does it mean?

In: Accounting

8) For a perfectly competitive firm, marginal revenue is


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