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Author Question: SnoGo, Inc., produces plastic tray used in cafeterias and for snow sledding.The company's static ... (Read 41 times)

captainjonesify

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on: Jan 5, 2020
SnoGo, Inc., produces plastic tray used in cafeterias and for snow sledding.
The company's static budget income statement for January follows. It is based on expected sales volume of 50,000 trays.

SnoGo Inc
Static Budget Income Statement
Month Ended January 31
Sales revenue  $50,000
Variable expenses:
 Cost of goods sold$20,000
 Sales commissions 5,000
 Utilities expense 2,500
Fixed expenses:
 Salary expense1,000
 Depreciation expense 750
 Rent expense500
 Utilities expense      250
Total expenses.  $30,000
Operating income$20,000

SnoGo's manufacturing capacity is 62,500 trays. If actual volume exceeds 62,500 trays,the company must expand the plant. In that case, salaries will increase by 15%, depreciation by 10%, and rent by $275. Fixed utilities will be unchanged by any volume increase.

Prepare flexible budget income statements for the company, showing output levels of 50,000, 60,000 and 70,000 trays.
Managerial Accounting, Canadian Edition ¦ Braun, Tietz, Pyper ¦ 2nd Edition
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Marked as best answer by captainjonesify on Jan 5, 2020

jharrington11

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Reply #1 on: Jan 5, 2020
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captainjonesify

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

amcvicar

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Reply 3 on: Yesterday
Excellent

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