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ACC561 / ACC 561 / Week 4 Flex Budget

ACC561 / ACC 561 / Week 4 Flex Budget

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Published by Number1Tutor
ACC561 / ACC 561 / Week 4 Flex Budget
ACC561 / ACC 561 / Week 4 Flex Budget

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Published by: Number1Tutor on Oct 18, 2010
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01/09/2013

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Actual=> Units Sold January February March April

High-End 470 456 442 429
Mid-Grade 2460 2522 2585 2650
Price/Unit
Mid-Grade $529 $529 $529 $529
High-End $839 $839 $839 $839
Direct Materials ($)/Unit
Mid-Grade (32% of Tot Cost) $140 $140 $140 $140
High-End (36% of Tot Cost) $250 $250 $250 $250
Direct Labor ($/HR)/Unit $15 $15 $15 $15
Labor Time (Hrs)/Unit
Mid-Grade 21.5 21.5 21.5 21.5
High-End 28 28 28 28
Direct Cost/Unit
Mid-Grade $462.50 $462.50 $462.50 $462.50
High-End $670.00 $670.00 $670.00 $670.00
January February March April
$ Budget-Flex $ Budget-Flex $ Budget-Flex $ Budget-Flex
Revenue
High-End 394,330 382,584 370,838 359,931
Mid-Grade 1,301,340 1,334,138 1,367,465 1,401,850
Total Revenue 1,695,670 1,716,722 1,738,303 1,761,781
Cost of Goods
High-End 117,500 114,000 110,500 107,250
Mid-Grade 344,400 353,080 361,900 371,000
Total Cost of Goods 461,900 467,080 472,400 478,250
Net Revenue 1,233,770 1,249,642 1,265,903 1,283,531
Labor Wages (57% of Tot Rev) 966,532 978,532 990,833 1,004,215
Office Salaries 50,000 50,000 50,000 50,000
Benefits (10% of Lab & Sal) 101,653 102,853 104,083 105,422
Supplies 6,000 6,000 6,000 6,000
Utilities 9,000 9,000 9,000 9,000
Insurance 3,000 3,000 3,000 3,000
Property Taxes 975 975 975 975
Total Operating Expense 1,137,160 1,150,360 1,163,891 1,178,612
Earnings before Taxes & Depr 96,610 99,282 102,012 104,919
Deprecition 50,000 50,000 50,000 50,000
Earnings before Taxes 46,610 49,282 52,012 54,919
Income Taxes (42% of Earnings) 19,576 20,699 21,845 23,066
BUDGET DATA
FLEX BUDGET
Net Earnings 27,034 28,584 30,167 31,853
May June
416 421
2716 2787
$529 $529
$839 $839
$140 $140
$250 $250
$15 $15
21.5 21.5
28 28
$462.50 $462.50
$670.00 $670.00
May June
$ Budget-Flex $ Budget-Flex
349,024 353,219
1,436,764 1,474,323
1,785,788 1,827,542
104,000 105,250
380,240 390,180
484,240 495,430
1,301,548 1,332,112
1,017,899 1,041,699
50,000 50,000
106,790 109,170
6,000 6,000
9,000 9,000
3,000 3,000
975 975
1,193,664 1,219,844
107,884 112,268
50,000 50,000
57,884 62,268
24,311 26,153
BUDGET DATA
FLEX BUDGET
33,573 36,116

853 .584 30.167 31.Net Earnings 27.034 28.

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