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An asterisk (*) will appear to the right of an incorrect entry. The essay portion will not be graded.
Enter a zero in cells you would otherwise leave blank.
a.
September October November December
Estimated cash receipts from:
Part-time job
Deposit
Total cash receipts
Estimated cash payments for:
Season football tickets
Additional entertainment
Tuition
Rent
Food
Deposit
Total cash payments
Cash increase (decrease)
Cash balance at beginning of month
Cash balance at end of month
b.
c.
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[Key essay answer here]
[Key essay answer here]
Instructions
Exercise 21(6)-1
Name:
Section:
0%
KATHERINE MALLOY
Cash Budget
For the Four Months Ending December 31, 2016
Score:
Key Code:
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An asterisk (*) will appear to the right of an incorrect entry. The essay portion will not be graded.
Enter a zero in cells you would otherwise leave blank.
a.
September October November December
Estimated cash receipts from:
Part-time job 1,400$ 1,400$ 1,400$ 1,400$
Deposit - - - 500
Total cash receipts 1,400$ 1,400$ 1,400$ 1,900$
Estimated cash payments for:
Season football tickets 210$ -$ -$ -$
Additional entertainment 275 275 275 275
b.
c.
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Score:
Instructions
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ON
While Malloy’s budget might first appear satisfactory, Malloy must earn enough cash in order to pay for the spring
semester tuition. Her present budget shows that she will be $700 short of the tuition amount ($3,700 – $3,000) by the
time she needs to pay her spring tuition. Thus, Malloy will likely need to adjust the plan before the fall term even begins.
Some possibilities would be to rent a lower cost apartment or to get a roommate. Other considerations include
KATHERINE MALLOY
Cash Budget
For the Four Months Ending December 31, 2016
Exercise 21(6)-1
Name:
Solution
Section:
An asterisk (*) will appear to the right of an incorrect entry.
Total sales
Variable cost:
Sales commissions
Advertising expense
Miscellaneous administrative expense
Customer support expense
Total variable cost
Fixed cost:
Miscellaneous administrative expense
Office salaries expense
Customer support expense
Research and development expense
Total fixed cost
Total selling and administrative expenses
0%
Exercise 21(6)-2
Name:
Section:
CLOUD PRODUCTIVITY INC.
Flexible Selling and Administrative Expenses Budget
For the Month Ending March 31, 2016
Score:
Key Code:
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Instructions
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Total sales 400,000$ 500,000$ 600,000$
Variable cost:
Sales commissions 56,000$ 70,000$ 84,000$
Advertising expense 72,000 90,000 108,000
Fixed cost:
Miscellaneous administrative expense 6,500$ 6,500$ 6,500$
Office salaries expense 28,000 28,000 28,000
Customer support expense 12,000 12,000 12,000
Instructions
Answers are entered in the cells with gray backgrounds.
ON
CLOUD PRODUCTIVITY INC.
Flexible Selling and Administrative Expenses Budget
For the Month Ending March 31, 2016
Exercise 21(6)-2
Name:
Solution
Section:
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
An asterisk (*) will appear to the right of an incorrect entry. The essay portion will not be graded.
a.
January February March
Units of production
Wages
Utilities
Depreciation
Total
Supporting calculations:
Wages:
Units of production
Hours per unit
Total hours of production
Wages per hour
Total wages
Utilities:
Total hours of production
Utility cost per hour
Total utilities
b.
January February March
Total flexible budget
Actual cost
Amount under (over) budget
0%
RODRIGUEZ COMPANY⎯MACHINING DEPARTMENT
Flexible Production Budget
Score:
Key Code:
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For the Three Months Ending March 31, 2016
[Key essay answer here]
Instructions
Exercise 21(6)-3
Name:
Section:
An asterisk (*) will appear to the right of an incorrect entry. The essay portion will not be graded.
a.
January February March
Units of production 90,000 100,000 110,000
Wages
288,000$ 320,000$ 352,000$
Supporting calculations:
Wages:
Units of production 90,000 100,000 110,000
Hours per unit 0.20 0.20 0.20
Total hours of production 18,000 20,000 22,000
b.
January February March
Total flexible budget 375,000$ 410,000$ 445,000$
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Score:
Instructions
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ON
Flexible Production Budget
For the Three Months Ending March 31, 2016
Exercise 21(6)-3
Name:
Solution
Section:
RODRIGUEZ COMPANY⎯MACHINING DEPARTMENT
An asterisk (*) will appear to the right of an incorrect entry.
Units of production
Variable cost:
Direct labor
Total variable cost
Fixed cost:
Supervisor salaries
Depreciation
Total fixed cost
Total department cost
STEELCASE INC.⎯ASSEMBLY DEPARTMENT
Flexible Production Budget
(assumed data)
Score:
Key Code:
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August 2016
Instructions
0%
Exercise 21(6)-4
Name:
Section:
An asterisk (*) will appear to the right of an incorrect entry.
Units of production 18,000 20,000 22,000
Variable cost:
Direct labor 79,200$ 88,000$ 96,800$
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Score:
Instructions
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ON
Flexible Production Budget
August 2016
(assumed data)
Exercise 21(6)-4
Name:
Solution
Section:
STEELCASE INC.⎯ASSEMBLY DEPARTMENT
An asterisk (*) will appear to the right of an incorrect entry.
a.
Unit Sales Unit Selling Total
Volume Price Sales
Model DL:
East Region
West Region
Total
Model XL:
East Region
West Region
Total
Total revenue from sales
b.
Model DL Model XL
Expected units to be sold
Plus desired inventory, September 30, 2016
Total
Less estimated inventory September 1, 2016
Total units to be produced
Answers are entered in the cells with gray backgrounds.
For the Month Ending September 30, 2016
Units
0%
Product and Area
SOUNDLAB INC.
SOUNDLAB INC.
Sales Budget
Score:
For the Month Ending September 30, 2016
Exercise 21(6)-6
Name:
Section:
Production Budget
Instructions
Key Code:
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
An asterisk (*) will appear to the right of an incorrect entry.
a.
Unit Sales Unit Selling Total
Volume Price Sales
Model DL:
East Region 2,560 190$ 486,400$
West Region 2,310 190 438,900
Total 4,870 925,300$
b.
Model DL Model XL
Expected units to be sold 4,870 2,010
Plus desired inventory, September 30, 2016 300 101
Score:
SOUNDLAB INC.
Sales Budget
For the Month Ending September 30, 2016
Units
Product and Area
SOUNDLAB INC.
Production Budget
For the Month Ending September 30, 2016
Exercise 21(6)-6
Solution
Name:
Section:
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Instructions
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ON
An asterisk (*) will appear to the right of an incorrect entry.
Dough Tomato Cheese Total
Units required for production:
12" pizza
16" pizza
Desired ending inventory
Total
Beginning inventory
Total units to be purchased
Unit price
Total direct materials to be purchased
ROMANO'S FROZEN PIZZA INC.
Direct Materials Purchases Budget
For the Month Ending September 30, 2016
Score:
Key Code:
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Instructions
0%
Exercise 21(6)-9
Name:
Section:
An asterisk (*) will appear to the right of an incorrect entry.
Dough Tomato Cheese Total
Units required for production:
12" pizza 3,710 2,120 3,180
16" pizza 13,350 6,230 11,570
Desired ending inventory 580 185 315
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
ROMANO'S FROZEN PIZZA INC.
Direct Materials Purchases Budget
For the Month Ending September 30, 2016
Exercise 21(6)-9
Name:
Solution
Section:
Key Code:
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Rubber Steel Belts Total
Pounds required for production:
Passenger tires
Truck tires
Desired ending inventory
Total (lbs.)
Beginning inventory
Total units (lbs.) to be purchased
Unit price
Total direct materials to be purchased
Key Code:
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[Key code here]
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For the Year Ending December 31, 2016
Instructions
SAFETY GRIP COMPANY
Direct Materials Purchases Budget
0%
Exercise 21(6)-11
Name:
Section:
Score:
