Please see the attached assignment for instructions. Make sure to follow the word count of 700 -1050 words minimum . Use the textbook as a source. chapters 21, 22, &23.
Textbook
Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2016). Accounting: Tools for business decision making (6th ed.). Hoboken, NJ: John Wiley & Sons
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Green Pastures Static Budget Income Statement ACC/561 Version 7 |
University of Phoenix Material
Green Pastures
Static Budget Income Statement
For the Year Ended December 31, 2017
Actual
Master Budget
Difference
Number of Mares
52
60
8 U
Number of Boarding Days
19,000
21,900
2,900 U
Sales
$380,000
$547,500
$167,500 U
Less: Variable Expenses
Feed
104,390
109,500
5,110 F
Veterinary Fees
58,838
65,700
6,862 F
Blacksmith Fees
4,984
5,475
491 F
Supplies
10,178
12,045
1,867 F
Total Variable Expenses
178,390
192,720
14,330 F
Contribution Margin
201,610
354,780
153,170 U
Less: Fixed Expenses
Depreciation
40,000
40,000
-0-
Insurance
11,000
11,000
-0-
Utilities
12,000
14,000
2,000 F
Repairs and Maintenance
10,000
11,000
1,000 F
Labor
88,000
95,000
7,000 F
Advertisement
12,000
8,000
4,000 U
Entertainment
7,000
5,000
2,000 U
Total Fixed Expenses
180,000
184,000
4,000 F
Net Income
$21,610
$170,780
$149,170 U
Copyright © XXXX by University of Phoenix. All rights reserved.
Copyright © 2017 by University of Phoenix. All rights reserved.