expenses for reimbursement. (In 2005, the meal and entertainment
expenses were limited to $50 per week per sales representative based
upon a 52 week year.)
The following information is available regarding the actual selling
costs incurred for 2005:
No change
2006 ADMINISTRATIVE BUDGET INFORMATION
The administrative department consists of the president and an office
staff of eight who handle the secretarial, purchasing, and accounting
duties. (Total of nine people.) The following information is available
regarding the 2005 actual costs:
It is felt that the level of the office and administrative staff will be
adequate for the coming year. It is expected that the
following changes will occur in 2006:
2006 INCOME TAX INFORMATION
The current federal and state income tax rates total 40%. All taxes for
the year will be paid by the end of the year
which means that there will be no accrued taxes on December 31,
2006.
2006 ACCOUNTS RECEIVABLE INFORMATION