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Sales.... Cost of goods sold Fixed Budget Report For Year Ended December 31, 2019 Direct materials .... Direct labor..... Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line).. Utilities ($45,000 is variable) .... Plant management salaries Gross profit...... Selling expenses Packaging..... Shipping ... Sales salary (fixed annual amount).. General and administrative expenses Advertising expense Salaries...... Entertainment expense Income from operations $975,000 225,000 60,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 1,955,000 1,045,000 430,000 456,000 $ 159,000

Sales.... Cost of goods sold Fixed Budget Report For Year Ended December 31, 2019 Direct materials .... Direct labor..... Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line).. Utilities ($45,000 is variable) .... Plant management salaries Gross profit...... Selling expenses Packaging..... Shipping ... Sales salary (fixed annual amount).. General and administrative expenses Advertising expense Salaries...... Entertainment expense Income from operations $975,000 225,000 60,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 1,955,000 1,045,000 430,000 456,000 $ 159,000

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 4E: Prepare a cost of goods sold budget for the Crest Hills Manufacturing Co. for the year ended...
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Classify all items listed in the fixed budget as variable or fixed. 

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Sales.... Cost of goods sold Fixed Budget Report For Year Ended December 31, 2019 Direct materials .... Direct labor..... Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line).. Utilities ($45,000 is variable) .... Plant management salaries Gross profit...... Selling expenses Packaging..... Shipping ... Sales salary (fixed annual amount).. General and administrative expenses Advertising expense Salaries...... Entertainment expense Income from operations $975,000 225,000 60,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 1,955,000 1,045,000 430,000 456,000 $ 159,000
Transcribed Image Text:Sales.... Cost of goods sold Fixed Budget Report For Year Ended December 31, 2019 Direct materials .... Direct labor..... Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line).. Utilities ($45,000 is variable) .... Plant management salaries Gross profit...... Selling expenses Packaging..... Shipping ... Sales salary (fixed annual amount).. General and administrative expenses Advertising expense Salaries...... Entertainment expense Income from operations $975,000 225,000 60,000 300,000 195,000 200,000 75,000 105,000 250,000 125,000 241,000 90,000 $3,000,000 1,955,000 1,045,000 430,000 456,000 $ 159,000
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