Describe general and administrative expenses
Problem 23-4A Preparation and analysis of a flexible budget performance report LO P1, P2, A1
| Phoenix Company’s 2013 master budget included the following fixed budget report. It is based on an expected production and sales volume of 17,000 units.
|
| Phoenix Company’s actual income statement for 2013 follows. |
| PHOENIX COMPANY Statement of Income from Operations For Year Ended December 31, 2013 |
| Sales (20,000 units) | $ | 5,063,000 | |||
| Cost of goods sold | |||||
| Direct materials | $ | 1,163,059 | |||
| Direct labor | 291,353 | ||||
| Machinery repairs (variable cost) | 61,588 | ||||
| Depreciation—plant equipment | 315,000 | ||||
| Utilities (fixed cost is $158,000) | 221,706 | ||||
| Plant management salaries | 226,000 | 2,278,706 | |||
| Gross profit | 2,784,294 | ||||
| Selling expenses | |||||
| Packaging | 91,368 | ||||
| Shipping | 122,412 | ||||
| Sales salary (annual) | 269,000 | 482,780 | |||
| General and administrative expenses | |||||
| Advertising expense | 135,000 | ||||
| Salaries | 251,000 | ||||
| Entertainment expense | 103,500 | 489,500 | |||
| Income from operations | $ | 1,812,014 |
LOOKING FOR THIS ASSIGNMENT OR A SIMILAR ONE? WE HAVE HAD A GOOD SUCCESS RATE ON THIS PAPER! ORDER WITH US TODAY FOR QUALITY WORK AND GET A DISCOUNT!
Disclaimer:
All types of paper that Discount Writers provides is only for the purpose of assistance! No text, paper, assignment, discussion would be similar with another student therefore guaranteeing Uniqueness and can be used with proper references only!
More tools: Better Grades: Choose your Homework Help:
Assignment Help: We would write your papers according to the instructions provided and guarantee you timely work
Entire Online Class Help: We are here for you and we would do your entire Class work from discussions, assignments, Replies, Exams and Quizzes at a Cost
Exam/ Quiz Help: We have a team of writers who specialize on exams from any specific field and we would give you an A+ Grade!
