Excel
Problems
P21-20A Doggy
world operates
P21-21A The budget committee of Clipboard Office Supply
P21-22A Clipboard Office Supply’s sales are 75%
Complete
problems P21-20A (p. 1121), P21-21A (p. 1122), and P21-22A (p.1123) in
your textbook.
Present your
analysis of the assigned problems in Excel format. Enter non-numerical
responses in the same worksheet using textboxes.
Attached are
the case studies and its working spread sheets that goes together.
P21-20A Doggy
world operates a chain of pair store in the Midwest. The manager of each store
reports to the regional manager, who, in turn, reports to the headquarters in
the Milwaukee, Wisconsin. The actual income statements for the Dayton store,
the Ohio region (include the Dayton store), and the company as a whole
(including the Ohio region) for July 2011 are as follows:
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DOGGY WORLD
Income statement
For the month ended
July 31, 2011
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|
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Dayton
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Ohio
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Companywide
|
|
Revenue
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$158,400
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$1,760,000
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$4,400,000
|
|
Expense:
|
|
|
|
|
Regional manager/headquarters
office
|
$ ----
|
$58,000
|
$122,000
|
|
Cost of materials
|
85,536
|
880,000
|
1,760,000
|
|
Salary expense
|
41,184
|
440,000
|
1,100,000
|
|
Depreciation expense
|
7,800
|
91,000
|
439,000
|
|
Utility expense
|
4,000
|
46,600
|
264,000
|
|
Rent expense
|
2,500
|
34,500
|
178,000
|
|
Total expenses
|
141,020
|
1,550,100
|
3,863,000
|
|
Operating income
|
$17,380
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$209,900
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$537,000
|
Budgeted amounts for July were as
follows:
|
DOGGY WORLD
Income statement
For the month ended
July 31, 2011
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|
|
Dayton
|
Ohio
|
Companywide
|
|
Revenue
|
173,400
|
1,883,000
|
4,650,000
|
|
Expense:
|
|
|
|
|
Regional manager/headquarters
office
|
----
|
64,600
|
124,000
|
|
Cost of materials
|
91,902
|
1,035,650
|
2,092,500
|
|
Salary expense
|
41,616
|
470,750
|
1,162,500
|
|
Depreciation expense
|
7,800
|
87,500
|
446,000
|
|
Utility expense
|
4,900
|
54,600
|
274,000
|
|
Rent expense
|
3,400
|
32,700
|
169,000
|
|
Total expenses
|
149,618
|
1,745,800
|
4,268,000
|
|
Operating income
|
23,782
|
137,200
|
382,000
|
Requirement
Prepare a report for July 2011
that shows the performance of the Dayton store, the Ohio region, and the
company as a whole.
P21-21A The budget committee of Clipboard Office Supply has assembled
the following data. As the business manager, you must prepare the budgeted
income statements for May and June 2011.
a. sales in April
were $50,000. You forecast that monthly sales will increase 2.0% in May and
2.4% in June.
b. clipboard
maintains inventory of $9000 plus 25% of the sales revenue budgeted for the
following month. Monthly purcahses average 50% of sales revenue for the same
month. Actual inventory on April 30th was $13000. Sales budgeted for July are
$65000
c monthly salaries
amount to $3000. Sales commissions equal 4% of sales for that month. Combine
salaries and commissions into a single figure.
d. other monthly
expenses are
rent $2600 paid as
incurred
depreciation $300
insurance $200
expiration of prepaid amount
income tax 20% of
operating income.
P21-22A Clipboard Office Supply’s sales are 75% cash and 25% credit.
(Use the rounded sales values.) Credit sales are collected in the month after
sale. Inventory purchases are paid 25% in the month of purchase and 75% the
following month. Salaries and sales commissions are also paid half in the month
earned and half the next month. Income tax is paid at the end of the year. The
April 30, 2011, balance sheet showed the following balances:
cash $25000
accounts payable
$53000
Salaries and commissions
payable $2500
Requirements
R1. Prepare
schedules of (a) budgeted cash collections, (b) budgeted cash payments for
purchases, and (c) budgeted cash payments for operating expenses. Show amounts
for each month and totals for May and June. Round your computations to
the nearest dollar.
Prepare a cash
budget. If no financing activity took place, what is the budgeted cash balance
on June 30, 2011?
TUTORIAL PREVIEW
Req. 1
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Doggy World
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Responsibility Accounting Performance Report
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July 2011
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Companywide
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Variance
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Operating
Income of Regions and
|
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Favorable
|
|
Headquarters'
Office Expense
|
Budget
|
Actual
|
(Unfavorable)
|
|
Headquarter's office expense
|
$124,000
|
(122000)
|
$2,000
|
|
Ohio stores
|
137,200
|
209,900
|
72,700
|
File name: P21-20A P21-21A and P21-22A.xls File type: .doc PRICE: $30
