Perkins Company Provides the Following Data Developed for Its Master

question 168

Essay

Perkins Company provides the following data developed for its master budget: $\begin{array}{ll}\text { Sales price } & \$ 11.00 \text { per unit } \\\text { Costs: } & \\\text { Direct materials } & \$ 3.00 \text { per unit } \\\text { Direct labor } & \$ 4.25 \text { per unit } \\\text { Variable overhead } & \$ 0.50 \text { per unit } \\\text { Factory depreciation } & \$ 12,000 \text { per } \\& \text { month } \\\text { Supervision } & \$ 11,000 \text { per } \\& \text { month } \\\text { Selling expense } & \$ 0.25 \text { per unit } \\\text { Administrative cost } & \$ 9,000 \text { per month }\end{array}$
Required:
Prepare flexible budgets for sales of 20,000, 22,000 and 24,000 units. Use a contribution margin format.

Recognize the importance and process of recording office supplies expense.

Comprehend the procedure for accruing interest on borrowed funds.

Analyze and adjust for unearned and earned fees.

Construct journal entries for adjusting purposes in various accounting scenarios.

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Definitions:

Extraversion

A personality trait characterized by sociability, talkativeness, assertiveness, and a high level of energy and enthusiasm.

Job Performance

Job performance is the measure of how well an individual executes their work tasks and responsibilities within their professional role.

Conscientiousness

A personality trait characterized by thoroughness, carefulness, and the desire to do a task well.

Responsible

Having an obligation to do something, or having control over or care for someone, as part of one's job or role.