【文章內(nèi)容簡介】 umulated depreciation……. 7,000 (15,000) Equals gain on sale of equipment……. $ 4,000 b. Cash receipts collection of sale revenue is $115,343 Collection of: August sales: 7,800 $13 1/4….. $ 17,745 September sales: 9,100 $13 ………… 35,490 9,100 $13 3/4….. 62,108 Cash receipts………………………………………… $115,343 c. Cash payments total expenses = $32,167 Rent and property taxes…………………………… $ 4,000 Commissions and other selling expenses Related to sales in: August: 7,800 $13 1/3…………. 8,450 September: 9,100 $13 2/3…………. 19,717 Cash payments for operating expenses………... $32,167 Managerial Accounting, 1/e Solutions Manual 374 (25?30 minutes) E 715 Req. 1 Lipman Auto Parts Cash Budget January and February January February Beginning cash balance $10,300 $11,500 Cash collections from customers 11,400 14,800 Collections of note receivable 5,000 – Cash available before financing 26,700 26,300 Cash payments: Purchases of materials 3,000 3,600 Direct labor 7,000 7,000 Manufacturing overhead 2,500 2,800 Selling/administrative expenses 2,700 2,700 Total payments 15,200 16,100 Ending cash balance $11,500 $10,200 Req. 2 $800 to avoid dropping below $10,000 Chapter 7 The Master Budget: Profit Planning 375 (20 minutes) E 716 Ralph Golf Park Cash Budget April and May April May Beginning cash balance $ 16,200 $ 25,000 Cash collections 90,100 80,100 Cash from sale of plant assets 0 2,000 Cash available 106,300 107,100 Cash payments: Purchases of inventory $ 50,600 $ 41,600 Operating expenses 47,400 38,000 Total payments 98,000 79,600 Ending cash balance before financing 8,300 27,500 Financing: Borrowing, beginning balance 0 16,700 Net borrowing/repayments 16,700 (2,389) Interest expense* 0 (111) Total effects of financing 16,700 (2,500) Ending cash balance $ 25,000 $ 25,000 *$16,700 8% 1/12 Managerial Accounting, 1/e Solutions Manual 376 (25?30 minutes) E 717 Budgeted Balance Sheet March 31, 2021 ASSETS Current Assets Cash $ 6,300 Accounts receivable 2,930 Inventory 17,220 $26,450 Plant assets: Furniture and fixtures 34,600 Accumulated depreciation ($29,870 + $600) (30,470) 4,130 Total assets $30,580 LIABILITIES Current liabilities Accounts payable $ 1,700 Total liabilities $ 1,700 STOCKHOLDERS39。 EQUITY Stockholders39。 equity 28,880 Total liabilities and stockholders39。 equity $30,580 Computations: Inventory: $17,780 + $4,400 – (40% $12,400) = $17,220 Accounts payable: $10,100 $8,400 = $1,700 Accounts receivable: $5,130 + 12,400 $14,600 or .25 $12,200 = $2,930 Cash: Stockholders39。 equity: Beginning balance ......................... … $11,500 Beginning balance ..... .. $29,040 Receipts......................................... … 14,600 Sales revenue ............ .. 12,400 Payments for inventory ................. … Payments of liabilities……………… … (4,400) (8,400) Cost of goods sold ( $12,400) ....... .. (4,960) Payments for other expenses ........ … Ending balance .............................. … (7,000) $ 6,300 Depreciation expense… Other expenses .......... .. (600) (7,000) Ending balance .......... .. $28,880 Chapter 7 The Master Budget: Profit Planning 377 Problems – Group A (5060 minutes) P 718A Req. 1 Doggy World Responsibility Accounting Performance Report July 2021 COMPANYWIDE Operating Ine of Regions and Headquarters’ Office Expense Budget Actual Variance: Favorable (Unfavorable) Headquarters’ office expense $(124,000) $(122,000) $ 2,000 Ohio stores 137,200 209,900 72,700 Stores in other regions 368,800a 449,100b 80,300 Operating ine $ 382,000 $ 537,000 $155,000 a Companywide ($382,000) + Headquarters’ office ($124,000) ? Ohio ($137,200) = $368,800 b Companywide ($537,000) + Headquarters’ office ($122,000) ? Ohio ($209,900) = $449,100 OHIO Operating Ine of Stores and Region Manager’s Office Expense Budget Actual Variance: Favorable (Unfavorable) Region Manager’s office expense $ (64,600) $ (58,000) $ 6,600 Dayton 23,782 17,380 (6,402) Other Ohio stores 178,018c 250,520d 72,502 Operating ine $137,200 $209,900 $ 72,700 cOhio ($137,200) + Region manager’s office ($64,600) ? Dayton ($23,782) = $178,018 dOhio ($209,900) + Region manager’s office ($58,000) ? Dayton ($17,380) = $250,520 DAYTON Revenues and Expenses: Budget Actual Variance: Favorable (Unfavorable) Revenue $173,400 $158,400 $(15,000) Expenses: Cost of materials 91,902 85,536 6,366 Salary expense 41,616 41,184 432 Depreciation expense 7,800 7,800 ? Utilities expense 4,900 4,000 900 Rent expense 3,400 2,500 900 Total expenses 149,618 141,020 8,598 Operating ine $ 23,782 $ 17,380 $(6,402) Managerial Accounting, 1/e Solutions Manual 378 (6090 minutes) P 719A Req. 1 Tucker39。s Turkey Sandwiches, Inc. Selling and Administrative Expense Budget 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Year Budgeted sales in units 100,000 110,000 120,000 90,000 420,000 Variable selling cost per sandwich $ $ $ $ $ Budgeted variable selling and administrative expenses 10,000 11,000 12,000 9,000 42,000 Budgeted fixed selling and administrative expenses: Insurance 45,000 45,000 45,000 45,000 180,000 Sales salaries 3