Sales Budget Budget Production Direct Mtls Direct Lbr Factory OH Selling Exp Adm

Question

Sales Budget Budget Production Direct Mtls Direct Lbr Factory OH Selling Exp Admin Exp Cost of Income Budget Budget Budget Budget Budget Goods SoldStatement Requirement Prepare the Administrative Expense Budget for Robinson Inc. Quarterly general and administrative expenses include $68,000 administrative salaries, rent expense of $41,000 per quarter, insurance expense of $33,000 per quarter, straight-line depreciation of $33,000 per quarter, and 1% monthly interest on the $200,000 long-term note payable (390 quarterly) Show less Robinson Inc. General and Administrative Budget For the year ended December 31, 2018 First Qtr Second Qtr. Third Qtr Fourth Qtr Total Administrative salaries ent expense nsurance expense Depreciation expense Total budgeted general and administrative expenses

Explanation / Answer

Robinson Inc General and administrative budget For the year ended 31 Dec 2018 1 Qtr 2 Qtr 3 Qtr 4 Qtr Total Administrative salaries           68,000              68,000             68,000           68,000            2,72,000 Rent expenses           41,000              41,000             41,000           41,000            1,64,000 Insurance expenses           33,000              33,000             33,000           33,000            1,32,000 Depreciation expenses           33,000              33,000             33,000           33,000            1,32,000 Total Budgeted General and administrative budget       1,75,000          1,75,000         1,75,000        1,75,000            7,00,000

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