1. assume that coke budget for a 10% increase in sales over fiscal year 2019. what would budgeted salesbe for fiscal year 2020 ?(round 2 decimal places ) 2. Assume cokes cost of sales will be 65%of sales, whatis cokes budgeted cost of sales for 2020 ? (round 2 decimal places) 3. If coke wants ending inventory tobe 10% of the next periods budgeted cost of sales, and the 2021 cost of budgeted sales is $3,796, 080.79what will be 2020 budgetd endinding inventory be? 4. based on the previous calculations for the coke(in thousands, except per share data)Net salesCost of salesGross profitSelling, delivery and administrative expensesIncome from operationsInterest expense, netOther expense, netGain on exchange transactionsIncome (loss) before income taxesIncome tax expense (benefit)Net income (loss)3COCA-COLA CONSOLIDATED, INC.CONSOLIDATED STATEMENTS OF OPERATIONSLess: Net income attributable to noncontrolling interestNet income (loss) attributable to Coca-Cola Consolidated, Inc.Basic net income (loss) per share based on net income (loss)attributable to Coca-Cola Consolidated, Inc.:Common StockWeighted average number of Common Stock shares outstandingClass B Common StockWeighted average number of Class B Common Stock shares outstandingDiluted net income (loss) per share based on net income (loss)attributable to Coca-Cola Consolidated, Inc.:Common StockWeighted average number of Common Stock shares outstanding -assuming dilutionClass B Common StockWeighted average number of Class B Common Stock shares outstanding- assuming dilution$S20194,826,549 $3,156,0471,670,5021,489,748180,75445,990100,53934,22515,66518,5607,18511.375 S1.217,1411.212,2291.219,4171.192,276SSFiscal Year20184,625,364 $3,069,6521,555,7121,497,81057,90250,50630,85310,170(13,287)1,869(15,156)4,774(19.930) S(2.13) S7,141(2.13) S2,209(2.13) S9,350(2.13) S2,20920174,287,5882,782,7211,504,8671,403,320101,54741,8699,56512,89363,006(39,841)102,8476,31296,53510.357,14110.352,18810.309,36910.292,228

The sales budget makes the company competent to manage its resources effectively and earn the…

1. assume that coke budget for a 10% increase in sales over fiscal year 2019. what would budgeted sales be for fiscal year 2020 ?(round 2 decimal places ) 2. Assume cokes cost of sales will be 65%of sales, what is cokes budgeted cost of sales for 2020 ? (round 2 decimal places ) 3. If coke wants ending inventory to be 10% of the next periods budgeted cost of sales, and the 2021 cost of budgeted sales is $3,796, 080.79 what will be 2020 budgetd endinding inventory be? 4. based on the previous calculations for the coke

1. assume that coke budget for a 10% increase in sales over fiscal year 2019. what would budgeted sales be for fiscal year 2020 ?(round 2 decimal places ) 2. Assume cokes cost of sales will be 65%of sales, what is cokes budgeted cost of sales for 2020 ? (round 2 decimal places ) 3. If coke wants ending inventory to be 10% of the next periods budgeted cost of sales, and the 2021 cost of budgeted sales is $3,796, 080.79 what will be 2020 budgetd endinding inventory be? 4. based on the previous calculations for the coke

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Concept explainers

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.

Question

1. assume that coke budget for a 10% increase in sales over fiscal year 2019. what would budgeted sales
be for fiscal year 2020 ?(round 2 decimal places ) 2. Assume cokes cost of sales will be 65%of sales, what
is cokes budgeted cost of sales for 2020 ? (round 2 decimal places) 3. If coke wants ending inventory to
be 10% of the next periods budgeted cost of sales, and the 2021 cost of budgeted sales is $3,796, 080.79
what will be 2020 budgetd endinding inventory be? 4. based on the previous calculations for the coke
(in thousands, except per share data)
Net sales
Cost of sales
Gross profit
Selling, delivery and administrative expenses
Income from operations
Interest expense, net
Other expense, net
Gain on exchange transactions
Income (loss) before income taxes
Income tax expense (benefit)
Net income (loss)
3
COCA-COLA CONSOLIDATED, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Less: Net income attributable to noncontrolling interest
Net income (loss) attributable to Coca-Cola Consolidated, Inc.
Basic net income (loss) per share based on net income (loss)
attributable to Coca-Cola Consolidated, Inc.:
Common Stock
Weighted average number of Common Stock shares outstanding
Class B Common Stock
Weighted average number of Class B Common Stock shares outstanding
Diluted net income (loss) per share based on net income (loss)
attributable to Coca-Cola Consolidated, Inc.:
Common Stock
Weighted average number of Common Stock shares outstanding -
assuming dilution
Class B Common Stock
Weighted average number of Class B Common Stock shares outstanding
- assuming dilution
$
S
2019
4,826,549 $
3,156,047
1,670,502
1,489,748
180,754
45,990
100,539
34,225
15,665
18,560
7,185
11.375 S
1.21
7,141
1.21
2,229
1.21
9,417
1.19
2,276
S
S
Fiscal Year
2018
4,625,364 $
3,069,652
1,555,712
1,497,810
57,902
50,506
30,853
10,170
(13,287)
1,869
(15,156)
4,774
(19.930) S
(2.13) S
7,141
(2.13) S
2,209
(2.13) S
9,350
(2.13) S
2,209
2017
4,287,588
2,782,721
1,504,867
1,403,320
101,547
41,869
9,565
12,893
63,006
(39,841)
102,847
6,312
96,535
10.35
7,141
10.35
2,188
10.30
9,369
10.29
2,228

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Step 1: Definition of sales budget:

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Step 2: Requirement 1- Calculation of budgeted sales for 2020:

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Step 3: Requirement 2- Calculation of budgeted cost of sales in 2020:

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Step 4: Requirement 3- Calculation of ending inventory in 2021:

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(J) please answer ASap... Question 1 The following table presents selected information for Superior Flooring's monthly production budgets for the coming year. Superior's inventory policy is to have ending inventory equal to 10% of the next month's sales. What is the beginning inventory in June? A. 350 B. 310 C. 250 D. 340 Question 2 Which of the following statements is true? A. A budget reconciliation report shows the difference between actual profit and budgeted profit and does not show the other variances. B. Activity-based costing is not used to evaluate customer profitability. C. Sales quantity (budgeted sales volume vs. actual sales volume) is the only item which differs between the master budget and the flexible budget. D. Comparing the flexible budget to the as-if budget isolates a change in input price (e.g. budgeted input price vs. actual input price). Question 3 Which of the following is not a benefit of budgeting? A. It reduces the need for analysis with regard to company…
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