Prepare a selling and administrative expense budget

Assignment Help Accounting Basics

Reference no: EM131896207

Problem

Kirkland Company combines its operating expenses for budget purposes in a selling and administrative expense budget. For the first 6 months of 2017, the following data are available.

1. Sales: 20,200 units quarter 1; 22,200 units quarter 2.

2. Variable costs per dollar of sales: sales commissions 5%, delivery expense 2%, and advertising 3%.

3. Fixed costs per quarter: sales salaries $10,600, office salaries $6,370, depreciation $4,580, insurance $1,630, utilities $840, and repairs expense $650.

4. Unit selling price: $24.

Prepare a selling and administrative expense budget by quarters for the first 6 months of 2017.

Reference no: EM131896207

Questions Cloud

Determine the total amount of product costs : Knight Company reports the following costs and expenses in May. Determine the total amount of product costs. Determine the total amount of period costs.

What is the maximum depletion for the mine in the last year : K.K.West, a gold mining company, has operated a gold mine in California for the last year. What is the maximum depletion for the mine in the last year?

Is the accountant liable to plaintiffs : Color-Dyne printed patterns on carpets. After reviewing the company's audited financial statements, the plaintiff s provided materials to Color-Dyne on credit.

What is the law of effect and how can it be used to modify : What is the law of effect and how can it be used to modify behavior? What role did Ivan Pavlov play in the study of classical conditioning?

Prepare a selling and administrative expense budget : Kirkland Company combines its operating expenses for budget. Prepare a selling and administrative expense budget by quarters for the first 6 months of 2017.

Provide the journal entries to record the transactions : Required: Provide the journal entries to record the transactions of Crown Ltd in accordance with the details provided above. (Narrations are required)

Create a list of possible deductions for your household : Create a list of possible deductions for your household. Are you able to reduce your taxable income enough to place you in the next lowest tax bracket?

What did the paper state about the use of social netowrking : he paper discusses the use of social networking sites by older adults and correlations withgeneral socialization habits.

Perform independent testing for financial records : James and Penelope Monroe purchased securities offered by Hughes Homes, Inc., a retailer of manufactured housing in Tacoma, Washington.

User Account

All Pages