Small World Advertising - Excel Exhibit 3-13 Small World Advertising: Annual Overhead Budget FILE HOME INSERT PAGE LAVOUT FORMULAS DATA REVIEW VIEW Sign in fr =SUM(F8:F35) F36 D SMALL WORLD ADVERTISING Annual Overhead Budget SMALL WORLD ADVERTISING A B E 1 2 3 For the Year 20x6 4 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 7 Support staff: Receptionist 8,000 $ 32,000 17,500 10,000 7,250 17,100 40,000 30,000 $ 8,000 $ 17,500 10,000 7,250 17,100 40,000 30,000 8,000 $ 17,500 10,000 7,250 17,100 40,000 30,000 8,000 $ 17,500 10,000 7,250 17,100 40,000 30,000 9 Secretarial 70,000 40,000 29,000 68,400 160,000 120,000 10 Accounting 11 Custodial Support staff benefits 13 Artistic supplies 14 Photographic supplies 15 Office: 12 Computer 17 Photocopying Office supplies 19 Postage 20 Utilities: 5,000 3,750 4,500 525 16 5,000 5,000 3,750 4,500 5,000 20,000 15,000 18,000 2,100 3,750 4,500 3,750 4,500 525 18 525 525 3,250 4,000 3,250 4,000 Electricity 22 Heat/air conditioning 23 Internet access 24 Cable TV 25 Telephone 21 3,250 4,000 3,250 4,000 13,000 16,000 1,500 2,000 3,100 2,400 2,500 50,000 15,000 20,000 4,000 375 375 375 375 500 500 500 500 775 775 775 775 26 Trash collection 600 600 600 600 27 Other 625 625 625 625 12,500 3,750 5,000 1,000 12,500 3,750 5,000 1,000 28 Building rent 29 Insurance 12,500 3,750 5,000 1,000 12,500 3,750 30 Advertising 5,000 1,000 31 Vehicle maintenance 32 Depreciation 33 Equipment 3,000 5,000 3,000 5,000 3,000 5,000 3,000 5,000 5,000 12,000 20,000 34 Vehicles 35 Other 5,000 $189,000 $ 189,000 $ 189,000 $ 189,000 $ 756,000 5,000 5,000 20,000 36 Total overhead 27 Overhead Budget

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter23: Flexible Budgeting (flexbud)

Section: Chapter Questions

Problem 4R

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Question

Refer to the illustration of overhead application in the Small World Advertising example. Suppose the firm used a single cost driver, total staff compensation, to apply overhead costs to each advertising engagement.
Required:
1. Compute the total budgeted staff compensation: both partner and associate staff compensation.
2. Compute Small World’s overhead rate on the basis of this single cost driver.
3. Recalculate the applied overhead for the EyeStyle Global engagement.
4. Compare the applied overhead using the single cost driver with the applied overhead computed using the two cost drivers used in the text illustration.

Small World Advertising - Excel
Exhibit 3-13
Small World Advertising:
Annual Overhead Budget
FILE
HOME
INSERT
PAGE LAVOUT
FORMULAS
DATA
REVIEW
VIEW
Sign in
fr =SUM(F8:F35)
F36
D
SMALL WORLD ADVERTISING
Annual Overhead Budget
SMALL WORLD
ADVERTISING
A
B
E
1
2
3
For the Year 20x6
4
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Year
7 Support staff:
Receptionist
8,000 $ 32,000
17,500
10,000
7,250
17,100
40,000
30,000
$
8,000 $
17,500
10,000
7,250
17,100
40,000
30,000
8,000 $
17,500
10,000
7,250
17,100
40,000
30,000
8,000 $
17,500
10,000
7,250
17,100
40,000
30,000
9
Secretarial
70,000
40,000
29,000
68,400
160,000
120,000
10 Accounting
11
Custodial
Support staff benefits
13 Artistic supplies
14 Photographic supplies
15 Office:
12
Computer
17 Photocopying
Office supplies
19 Postage
20 Utilities:
5,000
3,750
4,500
525
16
5,000
5,000
3,750
4,500
5,000
20,000
15,000
18,000
2,100
3,750
4,500
3,750
4,500
525
18
525
525
3,250
4,000
3,250
4,000
Electricity
22 Heat/air conditioning
23 Internet access
24 Cable TV
25 Telephone
21
3,250
4,000
3,250
4,000
13,000
16,000
1,500
2,000
3,100
2,400
2,500
50,000
15,000
20,000
4,000
375
375
375
375
500
500
500
500
775
775
775
775
26
Trash collection
600
600
600
600
27
Other
625
625
625
625
12,500
3,750
5,000
1,000
12,500
3,750
5,000
1,000
28 Building rent
29 Insurance
12,500
3,750
5,000
1,000
12,500
3,750
30 Advertising
5,000
1,000
31 Vehicle maintenance
32 Depreciation
33 Equipment
3,000
5,000
3,000
5,000
3,000
5,000
3,000
5,000
5,000
12,000
20,000
34
Vehicles
35 Other
5,000
$189,000 $ 189,000 $ 189,000 $ 189,000 $ 756,000
5,000
5,000
20,000
36 Total overhead
27
Overhead Budget

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