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Author Question: SnoGo, Inc., produces ergonometric tool used for snow removal. The company's static budget income ... (Read 34 times)

MirandaLo

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on: Jan 5, 2020
SnoGo, Inc., produces ergonometric tool used for snow removal.  The company's static budget income statement for January follows. It is based on expected sales volume of 5,500 tools.

SnoGo Inc
Static Budget Income Statement
Month Ended January 31
Sales revenue$82,500
Variable expenses:
 Cost of goods sold $31,625
 Sales commissions 6,875
 Utilities expense 5,500
Fixed expenses:
 Salary expense15,000
 Depreciation expense 10,000
 Rent expense5,000
 Utilities expense  2,500
Total expenses$ 76,500
Operating income$6,000

SnoGo's manufacturing capacity is 6,250 tools. If actual volume exceeds 6,250 tools, the company must expand the plant. In that case, salaries will increase by 10%, depreciation by 15%, and rent by $1,500. Fixed utilities will be unchanged by any volume increase.

Prepare flexible budget income statements for the company, showing output levels of 5,500, 6,000 and 6,500 tools.
Managerial Accounting, Canadian Edition ¦ Braun, Tietz, Pyper ¦ 2nd Edition
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Marked as best answer by MirandaLo on Jan 5, 2020

kescobar@64

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Reply #1 on: Jan 5, 2020
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MirandaLo

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Reply 2 on: Jan 5, 2020
Great answer, keep it coming :)

Dominic

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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