Welnor Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: · Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 for January. · Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible. · The cost of goods sold is 65% of sales. · The company desires ending merchandise inventory to equal 80% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase. · Other monthly expenses to be paid in cash are $21,000. · Monthly depreciation is $16,000. · Ignore taxes. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. c. Prepare Cash Budgets for November and December. d. Prepare Budgeted Income Statements for November and December. e. Prepare a Budgeted Balance Sheet for the end of December. 2. Carnes Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: In February, the school budgeted for 1,570 students and 143 courses. The actual activity for the month was 1,370 students and 145 courses. Required: Prepare a report showing the school's activity variances for February. Label each variance as favorable (F) or unfavorable (U). 3. Carnes Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: In February, the school budgeted for 1,570 students and 143 courses. The actual activity for the month was 1,370 students and 145 courses. Required: Prepare a report showing the school's activity variances for February. Label each variance as favorable (F) or unfavorable (U) 4. Which of the following would not appear on a flexible budget performance report as shown in the text? A. Variable costs. B. Mixed costs. C. A flexible budget adjusted to the actual level of activity. D. The previous year's actual costs.5. Salyers Family Inn is a bed and breakfast establishment in a converted 100-year-old mansion. The Inn's guests appreciate its gourmet breakfasts and individually decorated rooms. The Inn's overhead budget for the most recent month appears below 6. The Inn's variable overhead costs are driven by the number of guests. What would be the total budgeted overhead cost for a month if the activity level is 53 guests? A. $7,159.20 B. $6,680.60 C. $7,184.80 D. $26,154.406. Stock Manufacturing Corporation has prepared the following overhead budget for next month. 7.The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 6,600 machine-hours rather than 6,900 machine-hours? A. $84,321.00 B. $87,590.00 C. $84,860.00 D. $83,781.748. Gummer Hospital bases its budgets on patient-visits. The hospital's static budget for February appears below: The total overhead cost at an activity level of 10,800 patient-visits per month should be: A. $317,520 B. $303,810 C. $291,060 D. $302,850 CLICK HERE TO GET THE ANSWER !!!! Welnor Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: · Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 for January. · Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible. · The cost of goods sold is 65% of sales. · The company desires ending merchandise inventory to equal 80% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase. · Other monthly expenses to be paid in cash are $21,000. · Monthly depreciation is $16,000. · Ignore taxes. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. c. Prepare Cash Budgets for November and December. d. Prepare Budgeted Income Statements for November and December. e. Prepare a Budgeted Balance Sheet for the end of December. 2. Carnes Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: In February, the school budgeted for 1,570 students and 143 courses. The actual activity for the month was 1,370 students and 145 courses. Required: Prepare a report showing the school's activity variances for February. Label each variance as favorable (F) or unfavorable (U). 3. Carnes Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: In February, the school budgeted for 1,570 students and 143 courses. The actual activity for the month was 1,370 students and 145 courses. Required: Prepare a report showing the school's activity variances for February. Label each variance as favorable (F) or unfavorable (U) 4. Which of the following would not appear on a flexible budget performance report as shown in the text? A. Variable costs. B. Mixed costs. C. A flexible budget adjusted to the actual level of activity. D. The previous year's actual costs. 5. Salyers Family Inn is a bed and breakfast establishment in a converted 100-year-old mansion. The Inn's guests appreciate its gourmet breakfasts and individually decorated rooms. The Inn's overhead budget for the most recent month appears below 6. The Inn's variable overhead costs are driven by the number of guests. What would be the total budgeted overhead cost for a month if the activity level is 53 guests? A. $7,159.20 B. $6,680.60 C. $7,184.80 D. $26,154.40 6. Stock Manufacturing Corporation has prepared the following overhead budget for next month. 7.The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 6,600 machine-hours rather than 6,900 machine-hours? A. $84,321.00 B. $87,590.00 C. $84,860.00 D. $83,781.74 8. Gummer Hospital bases its budgets on patient-visits. The hospital's static budget for February appears below: The total overhead cost at an activity level of 10,800 patient-visits per month should be: A. $317,520 B. $303,810 C. $291,060 D. $302,850 CLICK HERE TO GET THE ANSWER !!!!

Welnor Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow:

· Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 for January.
· Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible.
· The cost of goods sold is 65% of sales.
· The company desires ending merchandise inventory to equal 80% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
· Other monthly expenses to be paid in cash are $21,000.
· Monthly depreciation is $16,000.
· Ignore taxes.

Required:

a. Prepare a Schedule of Expected Cash Collections for November and December.
b. Prepare a Merchandise Purchases Budget for November and December.
c. Prepare Cash Budgets for November and December.
d. Prepare Budgeted Income Statements for November and December.
e. Prepare a Budgeted Balance Sheet for the end of December.

2. Carnes Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting:

In February, the school budgeted for 1,570 students and 143 courses. The actual activity for the month was 1,370 students and 145 courses.

Required:

Prepare a report showing the school's activity variances for February. Label each variance as favorable (F) or unfavorable (U).

3. Carnes Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting:

In February, the school budgeted for 1,570 students and 143 courses. The actual activity for the month was 1,370 students and 145 courses.

Required:

Prepare a report showing the school's activity variances for February. Label each variance as favorable (F) or unfavorable (U)

4. Which of the following would not appear on a flexible budget performance report as shown in the text? 

A. Variable costs.
B. Mixed costs.
C. A flexible budget adjusted to the actual level of activity.
D. The previous year's actual costs.

5.  Salyers Family Inn is a bed and breakfast establishment in a converted 100-year-old mansion. The Inn's guests appreciate its gourmet breakfasts and individually decorated rooms. The Inn's overhead budget for the most recent month appears below

6.  The Inn's variable overhead costs are driven by the number of guests.
What would be the total budgeted overhead cost for a month if the activity level is 53 guests? 
A. $7,159.20
B. $6,680.60
C. $7,184.80
D. $26,154.40

6. Stock Manufacturing Corporation has prepared the following overhead budget for next month.

7.The company's variable overhead costs are driven by machine-hours.
What would be the total budgeted overhead cost for next month if the activity level is 6,600 machine-hours rather than 6,900 machine-hours? 
A. $84,321.00
B. $87,590.00
C. $84,860.00
D. $83,781.74

8. Gummer Hospital bases its budgets on patient-visits. The hospital's static budget for February appears below:

  

The total overhead cost at an activity level of 10,800 patient-visits per month should be: 
A. $317,520
B. $303,810
C. $291,060
D. $302,850

 

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