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# \$105,000 May \$165,000 Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible. Prepare a schedule which shows expected cash receipts from sales for the month of May. (Points : 30) 5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were: Product Budgeted Sales Actual Sales A 35,300 units at \$2.00 per unit 32,700 units at \$2.60 per unit B 27,900 units at \$5.00 per unit 29,200 units at \$4.70 per unit Part (a) Calculate the sales volume variance. Part (b) Calculate the sales price variance. Part (c) Calculate the total sales variance. (Points : 30) 6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs: Calls Costs 2,000 \$2,400 1,500 2,000 2,200 2,600 2,500 2,900 2,300 2,700 1,700 2,200 Identify the fixed and variable cost elements using the high-low method. (Points : 30)

\$105,000

May

\$165,000

Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible.

Prepare a schedule which shows expected cash receipts from sales for the month of May. (Points : 30)

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

Product

Budgeted Sales

Actual Sales

A

35,300 units at \$2.00 per unit

32,700 units at \$2.60 per unit

B

27,900 units at \$5.00 per unit

29,200 units at \$4.70 per unit

Part (a) Calculate the sales volume variance.

Part (b) Calculate the sales price variance.

Part (c) Calculate the total sales variance. (Points : 30)

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs:

Calls

Costs

2,000

\$2,400

1,500

2,000

2,200

2,600

2,500

2,900

2,300

2,700

1,700

2,200

Identify the fixed and variable cost elements using the high-low method. (Points : 30)

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