ACC206
WEEK 5 E22-19 P22-22A P23-28A
E22-19 OLEANS.COM
22-22A Thumback Office Supply
P22-28A - JAVA MANUFACTURES
22-22A Thumback Office Supply
P22-28A - JAVA MANUFACTURES
E22-19
Preparing
a finical budget
Consider
the following June actual ending balances and July 31, 2012, budgeted amounts
for Orleans.com:
June 30
inventory balance, $17,750
June payments for inventory, $4,300
June
payments of accounts payable and accrued liabilities, $8,200
June 30
accounts payable balance, $10,600
June 30
furniture and fixtures balance, $34, 500; accumulated depreciation balance,
29,830
June 30
equity, $28,360
June
depreciation expense, $900
Costs of
goods sold, 50%of sales
Order July expenses, including income tax,
total $6,000, paid in cash
June 30
cash balance, $11,400
June
budgeted credit sales, $12, 700
June 30
accounts receivable balance, $5,140
July cash
receipts, $14,200
Prepare a
budgeted balance sheet
22-22A
Preparing
an operating budget
Thumbtack's
March 31, 2012, budgeted balance sheet follows:
P23-28A
Computing
and journalizing standard cost variances
Java
manufactures coffee mugs that it sells to other companies for customizing with
their own logos. Java prepares flexible budgets and uses a standard cost system
to control manufacturing costs. The standard unit cost of a coffee mug is based
on static budget volume of 60,200 coffee mugs per month:
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