Reference no: EM13906821
Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $ 25 per unit. Sales (in units) are forecasted at 45,000 for January, 55,000 for February, and 50,000 for March. Cost of goods sold is $ 14 per unit. Other expense information for the first quarter follows. Prepare a budgeted income statement for this first quarter.
Commissions . . . . . . . . . 8% of sales
Rent . . . . . . . . . . . . . . . . $ 14,000 per month
Advertising . . . . . . . . . . 15% of sales
Office salaries . . . . . . . . $ 75,000 per month
Depreciation . . . . . . . . . $ 40,000 per month
Interest . . . . . . . . . . . . . 15% annually on a $ 250,000 notepayable
Tax rate . . . . . . . . . . . . . 30%
How is uniformitarianism related to the evolution of earth
: Respond to the following: According to the Nebular Theory, how did the solar system develop? How is uniformitarianism related to the evolution of Earth and the solar system?
|
A worksheet is being developed to consolidate williams
: A worksheet is being developed to consolidate Williams, Incorporated, and Brown Company. These two organizations have made considerable intercompany transactions. How would the consolidation process be affected if these transfers were downstream? How..
|
Elements of the project management plan
: According to Larson and Gray in Project Management: The Managerial Process, the project scope is essential for integrating all elements of the project management plan
|
Create a flickr search tool
: You will create a Flickr search tool. Create a section with a text ?eld for the user to enter a search term and a button that will start a search of ?ickr - web design assignment that needs to be completed using only HTML5/CSS3 and JavaScript.
|
Prepare a budgeted income statement for this first quarter
: Fortune, Inc., is preparing its master budget for the first quarter.
|
Made considerable intercompany transactions
: A worksheet is being developed to consolidate Williams, Incorporated, and Brown Company. These two organizations have made considerable intercompany transactions. How would the consolidation process be affected if these transfers were downstream? How..
|
Develop policies and programs to improve population
: To effectively develop policies and programs to improve population health, it is useful to use a framework to guide the process
|
Intercompany treatment of inventory-fixed asset transactions
: Given a business combination with intercompany supplier-purchaser relationships, explain intercompany treatment of inventory and fixed asset transactions between the parent and subsidiary including recognition of gain or loss.
|
Prepare income statement-balance sheet-balance of cash flow
: Marilyn Miller opened a floral shop using $5,000 of her own cash savings and with $15,000 in cash she borrowed from her parents. She signed a lease on a small store for one year, agreeing to pay $350 per month in rent. Can Marilyn achieve her goal of..
|