Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of...
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Accounting
Tempo Company's fixed budget (based on sales of 14,000 units) for the first quarter of calendar year 2017 reveals the following.
| Fixed Budget | ||||||||
| Sales (14,000 units) | $ | 2,884,000 | ||||||
| Cost of goods sold | ||||||||
| Direct materials | $ | 350,000 | ||||||
| Direct labor | 602,000 | |||||||
| Production supplies | 378,000 | |||||||
| Plant manager salary | 150,000 | 1,480,000 | ||||||
| Gross profit | 1,404,000 | |||||||
| Selling expenses | ||||||||
| Sales commissions | 112,000 | |||||||
| Packaging | 196,000 | |||||||
| Advertising | 100,000 | 408,000 | ||||||
| Administrative expenses | ||||||||
| Administrative salaries | 200,000 | |||||||
| Depreciationoffice equip. | 170,000 | |||||||
| Insurance | 140,000 | |||||||
| Office rent | 150,000 | 660,000 | ||||||
| Income from operations | $ | 336,000 | ||||||
Complete the following flexible budgets for sales volumes of 12,000, 14,000, and 16,000 units.
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