1 Martin is retailer, engaged in selling sumptuous deserts. Martin sells four products as of the moment, Toasted Pastillas, yema Balls, Red Velvet Crinkles and Sylvanas. Martin wants to prepare a sales budget for the fourth quarter of 2014 in order to properly anticipate his inflows of revenue Sales Forecast in per pack of each product is as follows: October November December Toasted Pastillas 15000 24000 42000 Yema Balls Martin sells the products under the following prices: Pastillas-P120/pack Toasted Yema Balls-P 100/pack 18000 18500 20000 Red Velvet Crinkles 12000 14000 18000 Sylvanas Red Velvet Crinkles - P180/pack Sylvanas - P 200/pack Prepare Martin's Sales Budget for the fourth quarter of 2014 6500 5000 7000

1 Martin is retailer, engaged in selling sumptuous deserts. Martin sells four products as of the moment, Toasted Pastillas, yema Balls, Red Velvet Crinkles and Sylvanas. Martin wants to prepare a sales budget for the fourth quarter of 2014 in order to properly anticipate his inflows of revenue Sales Forecast in per pack of each product is as follows: October November December Toasted Pastillas 15000 24000 42000 Yema Balls Martin sells the products under the following prices: Pastillas-P120/pack Toasted Yema Balls-P 100/pack 18000 18500 20000 Red Velvet Crinkles 12000 14000 18000 Sylvanas Red Velvet Crinkles - P180/pack Sylvanas - P 200/pack Prepare Martin's Sales Budget for the fourth quarter of 2014 6500 5000 7000

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Yarbrough Company manufactures T-shirts printed with tourist destination logos. The following table shows sales prices and projected sales volume for the summer months: (Click the icon to view the data.) Prepare a sales budget for Yarbrough Company for the three months. - X Data Table Yarbrough Company Sales Budget June, July, and August Projected Sales in Units June July August Total T-Shirt Sizes Sales Price June July August Youth T-Shirts Youth $ 7 575 500 525 Adult-Regular T-Shirts Adult-regular 17 625 900 825 Adult-oversized 18 400 500 475 Adult-Oversized T-Shirts Total sales Print Done Activate Windows Enter any number in the edit fields and then click Check Answer.
Paddle Up, a retailer of paddle boards, has provided you with the following information: Budgeted Sales (units) February 2022 150 March 2022 110 April 2022 70 a) Paddle Up sells each board for $400 and purchases each board for $250. b) Paddle Up plans to maintain inventory on hand at the end of each month to be 20% of next month's sales volume. You can assume this to be the situation at the end of January 2022. c) 40% of sales are made on cash basis with the remaining 60% - on credit. All credit sales are collected in the month following the sale. d) 50% of inventory purchases are made on cash basis with the remaining 50% - on credit. All credit purchases are paid in the month following the purchase. e) The following cash expenses are incurred on a monthly basis: Rent ($5,300); Wages ($5,400); Utilities ($2,100); Insurance ($600). The business also recognises $3,000 of depreciation expense each month. f) The monthly drawings by the owner Paddle Up include: $2,000 cash and 1 board for…
HandMI Corp. manufactures organic cotton totes in Michigan. The company estimates its production for the next four months as follows: July 5,200 units, August 7,800 units, September 7,900 units, October 8,800 units. Each tote requires 0.7 square meters of cotton. The company's cotton inventory policy is 40% of next month’s production needs. On July 1 cotton inventory was expected to be 1,456 square meters. What will cotton purchases be in July? Multiple Choice 5,393 square meters 4,118 square meters 4,518 square meters 4,368 square meters
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The following is a schedule of the projected unit sales of Western Company, which manufactures casual wear. Each unit sells for $25. The company began the period with a beginning accounts receivable balance of $10,000. Choose the correct answer from the options provided. Budgeted unit sales Percentage of sales collected in the quarter of the sale Percentage of sales collected in the quarter after the sale. Quarter First Second Third Fourth 1,500 1,300 1,400 1,300 Knowledge Check 01 What is the amount of budgeted sales revenue for the fourth quarter? O $32,500 $33,750 O $35,000 $37,500 $8,125 O $8,750 O $9,375 O $28,125 Year 5,500 75% 25% Knowledge Check 02 What is the amount of cash that is expected to be collected during the second quarter as a result of sales made during the first quarter?
Abrams Bottling Company sells fruit-flavored colas. Estimated sales in cartons for May, June, and July are 1,000, 3,000, and 5,000, respectively. The price is forecast at $5 per carton. Abrams requires that finished goods ending inventory be 20 percent of the next month's sales. Inventory was 500 units on May 1. Each carton requires 12 oz. of fruit syrup and 130 oz. of carbonated water. Materials ending inventory is 10 percent of the next month's production needs. May 1 inventory met that requirement. A. The budgeted revenue for May is B. The budgeted revenue for July is C. Production in May is D. Production in June is E. Purchases of syrup in May is F. Purchases of carbonated water in May is $ cartons cartons ounces ounces
Maulana Sdn Bhd (MSB) manufactures and sells two types of products: Pastry roller and Pastry puff .Each unit of product consumes two types of materials, butter and cheese. MSB is preparing its annual budget for the year ending December 31, 2018. The Assistant Accountant provides the following data: Pastrv roller Pastry puff Sales unit 65,000 55,000 Unit selling price RM30 RM20 MSB decided that the beginning and ending inventory for the year 2018 are as follow: Product Beginning inventory(units) Ending inventory(units) Pastry roller 8,000 9,000 Pastry puff 5,000 4,000 +The following materials are needed for the production of pastry roller and pastry puff: Materials: Pastry roller Pastry puff Beginning Ending inventory (kg) inventory (kg) Butter 10 kg 8 kg 272,000 290,000 Cheese 4 kg 3 kg 60,000 41 ,000 Materials: Price per kg Butter RM2.00 Cheese RM8.00 Direct labour per unit and direct labour co ber unit is given below: Hours needed Rate per hour Pastry roller 2 hours Pastry puff 1.5…
Melissa reviewed her six-month plan for Orchard Creek's Children's Accessory Department, including the actual performance for August and September. She also observed the department's current performance from October 1 through October 15. In her midmonth analysis, Melissa observed the following: Planned sales for October were $7,891 Actual sales from October 1 through October 15 were $3,529 The value merchandise on-order scheduled to arrive before the end of October is $2,749 Planned markdown for October was 1,560 Actual markdown taken from October 1 through October 15 was $715 Stock on hand as of October 15 is valued at $22,160 Planed EOM for October were $18,272 Markup % is 61.5 % What is the open-to-buy remaining for the month of October? Please calculate 1) OTB at Retail and 2) OTB at Cost Edit View Insert Format Toole T-LI.
Ecology Co. sells a biodegradable product called Dissol and has predicted the following sales for the first four months of the current year: Sales in units O 3,010 O 3,100 O 3,190 O 2,830 O 3,700 Jan. 2,500 Ending inventory for each month should be 15% of the next month's sales, and the December 31 inventory is consistent with that policy. How many units should be purchased in February? Question 8 Feb. 3,100 March. 3,700 April. 2,800 F6 F7 F8
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Olympia Productions Incorporated makes award medallions that are attached to ribbons. Each medallion requires 18 inches of ribbon. The sales forecast for March is 2,000 medallions. Estimated beginning inventories and desired ending inventories for March are as follows: (Assume 18 inches = 0.5 yards) Estimated Beginning Medallions Ribbon (yards) Inventory 1,100 70 Desired Ending Inventory 750 23 Required: a. Calculate the number of medallions to be produced in March. b. Calculate the number of yards of ribbon to be purchased in March. a. Number of medallions produced b. Number of yards of ribbon purchased