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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.
[Key essay answer here]
[Key essay answer here]
Instructions
Exercise 22-1
Name:
Section:
0%
KATHERINE MALLOY
Cash Budget
For the Four Months Ending December 31, 2016
Score:
Key Code:
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[Key code here]
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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
Estimated cash payments for:
Season football tickets 210$ –$ –$ –$
Additional entertainment 275 275 275 275
Tuition 3,700 – – –
b.
c.
Exercise 22-1
Name:
Solution
Section:
The four-month budgets do not change with any identified activity level; thus, they are static budgets.
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 – $3,000) by the
time she needs to pay her spring tuition. Thus, Malloy will likely need to adjust the plan before the fall term even
KATHERINE MALLOY
Cash Budget
For the Four Months Ending December 31, 2016
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Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
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Total sales
Variable cost:
Sales commissions
Advertising expense
Miscellaneous administrative expense
Customer support expense
Total variable cost
Fixed cost:
Miscellaneous administrative expense
Office salaries expense
Customer support expense
Research and development expense
Total fixed cost
Total selling and administrative expenses
0%
Exercise 22-2
Name:
Section:
CLOUD PRODUCTIVITY INC.
Flexible Selling and Administrative Expenses Budget
For the Month Ending March 31, 2016
Score:
Key Code:
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[Key code here]
Answers are entered in the cells with gray backgrounds.
Instructions
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Total sales 400,000$ 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
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 22-2
Name:
Solution
Section:
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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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[Key code here]
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For the Three Months Ending March 31, 2016
[Key essay answer here]
Instructions
Exercise 22-3
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
Utilities:
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
Answers are entered in the cells with gray backgrounds.
ON
Flexible Production Budget
For the Three Months Ending March 31, 2016
The excess of actual cost over the flexible budget suggests that the Machining Department has
Exercise 22-3
Name:
Solution
Section:
RODRIGUEZ COMPANY⎯MACHINING DEPARTMENT
Utilities
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
0%
Exercise 22-4
Name:
Section:
STEELCASE INC.⎯ASSEMBLY DEPARTMENT
Flexible Production Budget
(assumed data)
Score:
Key Code:
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[Key code here]
Answers are entered in the cells with gray backgrounds.
August 2016
Instructions
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Units of production 18,000 20,000 22,000
Fixed cost:
Supervisor salaries 150,000$ 150,000$ 150,000$
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Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
Flexible Production Budget
August 2016
(assumed data)
Exercise 22-4
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
Exercise 22-6
Name:
Section:
For the Month Ending September 30, 2016
Instructions
Key Code:
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[Key code here]
Answers are entered in the cells with gray backgrounds.
Production Budget
For the Month Ending September 30, 2016
Units
0%
Product and Area
SOUNDLAB INC.
SOUNDLAB INC.
Sales Budget
Score:
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$
Model XL:
East Region 1,080 300$ 324,000$
b.
Model DL Model XL
Expected units to be sold 4,870 2,010
Plus desired inventory, September 30, 2016 300 101
Exercise 22-6
Solution
Name:
Section:
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Instructions
Answers are entered in the cells with gray backgrounds.
ON
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
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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[Key code here]
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Instructions
0%
Exercise 22-9
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
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 22-9
Name:
Solution
Section:
Key Code:
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An asterisk (*) will appear to the right of an incorrect entry.
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]
Answers are entered in the cells with gray backgrounds.
For the Year Ending December 31, 2016
Instructions
SAFETY GRIP COMPANY
Direct Materials Purchases Budget
0%
Exercise 22-11
Name:
Section:
Score: