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Author Question: SnoGo, Inc., produces ergonometric tool used for snow removal. The company's static budget income ... (Read 92 times)

silviawilliams41

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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 11,000 tools.

SnoGo Inc
Static Budget Income Statement
Month Ended January 31
Sales revenue$330,000
Variable expenses:
 Cost of goods sold$63,250
 Sales commissions27,500
 Utilities expense 22,000
Fixed expenses:
 Salary expense30,000
 Depreciation expense25,000
 Rent expense10,000
 Utilities expense   5,000
Total expenses $182,750
Operating income$147,250

SnoGo's manufacturing capacity is 12,000 tools. If actual volume exceeds 12,000 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 11,000, 12,000 and 13,000 tools.
Managerial Accounting, Canadian Edition ¦ Braun, Tietz, Pyper ¦ 2nd Edition
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Marked as best answer by silviawilliams41 on Jan 5, 2020

joshbk44

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Reply #1 on: Jan 5, 2020
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silviawilliams41

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

Missbam101

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Reply 3 on: Yesterday
Excellent

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