(Answered): lempo Company's fixed badget (hased on sales of 7,000 units) for the first quarter of calendar year 2bis of fiaxible reveals the following…

lempo Companys fixed badget (hased on sales of 7,000 units) for the first quarter of calendar year 2bis of fiaxible reveals the following Prepare flexible boxdgets following the format of Exhabit 21.3 than show vanisble cos and three different flexible budgets for sales volumes of 6000, 7.000 nd 800 urit. per unit, fived costs, Fixed Budget Sales 000 units Cost of goods sold Diroet marerials Direct labor Produczion supplies .. $280,000 490,000 175.000 65,001010 00 Present letter o a. Fix b. Sta Gross profit Seling expenses 1.790000 Sales commissions Pacizging Advertsing 54.00 125000 419,000 Adminstrative experses 85,000 Administrative salarits Depreciation-oice equp 20000 36 000 17%000 51.195.000 9. Co h. Fle Office rent (x, 6.000 i. Va Solitaire Companys fixed budget performance repon for Juce folk include $294.000 variable expenses and $21,000 lixed expenses. A 15,000 badgeted expenses s include S27,000 fied exc lritl

exercise 21-2 Tempo Company’s fixed budget (based on sales of 7,000 units)

lempo Company’s fixed badget (hased on sales of 7,000 units) for the first quarter of calendar year 2bis of fiaxible reveals the following Prepare flexible boxdgets following the format of Exhabit 21.3 than show vanisble cos and three different flexible budgets for sales volumes of 6000, 7.000 nd 800 urit. per unit, fived costs, Fixed Budget Sales 000 units Cost of goods sold Diroet marerials Direct labor Produczion supplies .. $280,000 490,000 175.000 65,001010 00 Present letter o a. Fix b. Sta Gross profit Seling expenses 1.790000 Sales commissions Pacizging Advertsing 54.00 125000 419,000 Adminstrative experses 85,000 Administrative salarits Depreciation-oice equp 20000 36 000 17%000 51.195.000 9. Co h. Fle Office rent (x, 6.000 i. Va Solitaire Company’s fixed budget performance repon for Juce folk include $294.000 variable expenses and $21,000 lixed expenses. A 15,000 badgeted expenses s include S27,000 fied exc lritl

Expert Answer

 

TEMPO COMPANY
Flexible Budgets
For Quarter Ended March 31, 2015
——Flexible Budget—— ——Flexible Budget at ——
Variable Amount per Unit Total Fixed Cost 6,000 units 7,000 units 8,000 units
Sales 400 2400000 2800000 3200000
Variable costs:
Direct materials 40 240000 280000 320000
Direct labor 70 420000 490000 560000
Production supplies 25 150000 175000 200000
Sales commissions 20 120000 140000 160000
Packaging 22 132000 154000 176000
Total variable costs 177 1062000 1239000 1416000
Contribution margin 223 13,38,000 15,61,000 17,84,000
Fixed costs:
Plant manager salary 65,000 65,000 65,000 65,000
Advertising 1,25,000 1,25,000 1,25,000 1,25,000
Administrative salaries 85,000 85,000 85,000 85,000
Depreciation—office equip. 35,000 35,000 35,000 35,000
Insurance 20,000 20,000 20,000 20,000
Office rent 36,000 36,000 36,000 36,000
Total fixed costs 366000 366000 366000 366000
Income from operations 9,72,000 11,95,000 14,18,000
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