What is the budgeted operating income

Assignment Help Accounting Basics
Reference no: EM133611543

Office Fountain Company estimated sales of 12,000 units at $44 each, unit cost of goods sold of $22, marketing expense of $70,000, and a 12 percent commission on the price for each unit sold. Administrative expense is budgeted at $50,000. Refer to Office Fountain Company. What is the budgeted operating income?

Reference no: EM133611543

Questions Cloud

How does type of product affect the promotional strategies : Name some of the challenges marketers encounter when developing advertising and promotional campaigns.
Calculate andrews net income for tax purposes : Calculate Andrews net income for tax purposes for the 2023 taxation year in accordance with the aggregating formula of Section 3 of the Income Tax Act
Briefly explain the importance of having good credit : briefly explain the importance of having good credit. Part 2: Share at least three strategies that individuals can implement to build their credit
Customer pays cash to fulfill its accounts : Customer pays cash to fulfill its accounts receivable obligation. It is a relief to the management of company A since the account was 58 days past due
What is the budgeted operating income : Administrative expense is budgeted at $50,000. Refer to Office Fountain Company. What is the budgeted operating income
Calculate the commission you will earn if you accept : Calculate the commission you will earn if you accept this booking. Enter the dollar value ($) of the commission
How much may the creditors lawfully collect from zebullon : benefit of the firm's creditors, $90,000 remained due and owing to the creditors. On these facts, how much may the creditors lawfully collect from Zebullon
Why employee salaries are not a good allocation : Why employee salaries are not a good allocation base for allocating overhead costs in survey masters LLC? Take into consideration the distinctive business
What is a likely explanation : There is a long-term dataset on a now endangered population of lemurs on Madagascar. What is a likely explanation?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate Software Business Division return on investment

Calculate the Software Business Division's return on investment (ROI) and residual income (RI). Discuss the results from your calculations

  Make the General Journal entry for the January entry

Alpha's stock was trading on the open market for $9.75 per share on January 2nd. Make the General Journal entry for the January entry

  Prepare necessary year-end adjusting entries for salaries

Civilizations has incurred and recorded a total salary expense of P875,000. Prepare necessary year-end adjusting entries for salaries

  Management assertions and quantifying materiality

What are management assertions? How do they affect the financial statements? How does the auditor formulate audit objectives based on management assertions?

  What is the total provision which Xplorer would report

What is the total provision (extraction plus dismantling) which Xplorer would report in its statement of financial position as at 30 September 20X4

  What are the functions of audit documentation

Audit documentation is the auditor's record of work performed and conclusions reached on an audit engagement. What are the functions of audit documentation

  Develop the cost management plan

This Assignment is designed to evaluate your ability to research, organize, and demonstrate project data and financial information pertaining to the development

  Compute the estimated inventory at May

Question 2 - Gross Profit Method - Compute the estimated inventory at May 31, assuming that the gross profit is 25% of sales

  What is the probability that a home for sale has a garage

Real estate ads suggest that 57% of homes for sale have garages, What is the probability that a home for sale has a garage but not a pool

  I-mobile inc is considering an investment in new equipment

i-mobile inc. is considering an investment in new equipment that will be used to manufacture a mobile communications

  Which accounts is not closed during the closing process

Which accounts is not closed during the closing process? If no adjustments are needed for a particular entity, its? post-closing trial balance will be identical

  Determine the amount at which the land should be recorded

Answer the following questions: What general rule should be applied to determine the amount at which the land should be recorded

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd