ABI-WE3 - Anthony Marsala Section 19 Comparative Income...

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Anthony Marsala Section 19 A42835650 Comparative Income Statement Month For the First Quarter 2011 Data Jan Feb Mar Total Result January February March Sum - Participants 725 268 259 1252 Sales #REF! #REF! #REF! Sum - Sales 130500 79060 #VALUE! #VALUE! Less: COGS Sum - DL 68875 27248 24087 120210 Direct Materials #REF! #REF! #REF! Sum - DM 9983 4087 3838 17909 Direct Labor #REF! #REF! #REF! 40000 40000 40000 120000 Gross Profit #REF! #REF! #REF! 3750 150 0 3900 Less: Operating Exp Sum - Bad Debt Exp 1305 791 #VALUE! #VALUE! #REF! #REF! #REF! Sum - Depreciation 4000 4000 4000 12000 #REF! #REF! #REF! Total Sum - Participants 725 268 259 1252 Bad Debt Expense #REF! #REF! #REF! Total Sum - Sales 130500 79060 #VALUE! #VALUE! Depreciation #REF! #REF! #REF! Total Sum - DL 68875 27248 24087 120210 NOI #REF! #REF! #REF! Total Sum - DM 9983 4087 3838 17909 NOI/Sales #REF! #REF! #REF! 40000 40000 40000 120000 3750 150 0 3900 Total Sum - Bad Debt Exp 1305 791 #VALUE! #VALUE! Total Sum - Depreciation 4000 4000 4000 12000
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Anthony Marsala Section 19 A42835650 ABI-WE 3: Great Lakes Learning, Inc. TOPIC: Budgeting and Variances (CHs 8 and 9) The company in this case is fictitious, but for more information about this industry, Budget data about Great Lakes Learning, Inc. The sales price of a seminar depends on the state, level of learning, and length of the seminar. Payment for the purchase of direct materials is made in the month fol owing the purchase. Other monthly fixed sel ing and administrative expenses to be paid in cash are $40,000. Ignore taxes. Table 1: Sales Information Table 2: Training Catalog Month Catalog Number Jan ACT-12-NY 650 180 ACT-08-FL 65 Feb GLL-34-AL 265 295 ACT-12-CA 70 Mar GLL-12-MI 290 270 ACT-12-NY 180 Apr ACT-13-MI 685 90 ACT-13-MI 90 ACT-23-MI 120 ACT-32-KS 450 ACT-33-KY 85 ACT-52-MA 75 ACT-52-NJ 80 GLL-12-MI 270 GLL-23-CA 245 GLL-23-WA 280 GLL-32-NV 220 GLL-34-AK 230 GLL-34-AL 295 GLL-34-KS 245 GLL-44-MA 240 Table 3: Actual Data for 2011 Month Participants Sales DL DM Bad Debt Exp Depreciation Jan 725 130500 68875 9983 40000 3750 1305 4000 Feb 268 79060 27248 4087 40000 150 791 4000 Mar 259 Err:520 24087 3838 40000 0 Err:520 4000 Exhibit 1: Balance Sheet GREAT LAKES LEARNING, INC. Statement of Financial Position As of December 31, 2010 Assets: Cash $48,000 Accounts receivable (net of al owance for uncol ectible accounts) 31,200 Inventory 3,074 Capital assets (net of $125,000 accumulated depreciation) 263,200 Total assets $345,474 Liabilities and Stockholders' Equity Accounts payable $12,340 Common stock 240,000 Retained earnings 93,134 Total liabilities and stockholders' equity $345,474 REQUIREMENTS (numbers in parentheses refer to the Excel Function Directory) 1 Prepare the input data for the budgets. 2
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ABI-WE3 - Anthony Marsala Section 19 Comparative Income...

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