14. Cain Company is a sporting goods store. The company sells a tent that sleeps six people. The store expects to sell 280 tents in 2024 and 360 tents in 2025. At the beginning of 2024, Cain Company has 30 tents in Merchandise Inventory and desires to have60% of the next year's sales available at the end of the year. How many tents will Cain Company need to purchase in 2024?Begin by selecting the labels, then enter the amounts to compute the budgeted tents to be purchased.Plus:Total tents neededLess:BudgetecBudgeted tents returnedBudgeted tents to be soldDesired tents in ending inventoryTents in beginning inventoryZ

To determine how many tents Cain Company needs to purchase in 2024, we will follow a structured…

Answered: 14. Cain Company is a sporting goods…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 10Q: If the sales forecast estimates that 50,000 units of product will be sold during the following year,...

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A company must place an order for a product that will be sold in the upcoming holiday season by July 1, 2024 to receive a bulk discount. The demand for the product is forecasted to be 2,500, 4,500, 7,000, or 9,000 units. Leftover units can be sold to a clearance store for $50 per unit. The company purchases the product for $165 and sells it for $250. What is the profit if the company purchases 7,000 units but the actual demand turns out to be 4,500 units?
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The ThirstBuster Company is famous for its energy drinks. The company expects to produce 2,153,000 bottles of energy drink in 2019. ThirstBuster purchases empty bottles from Bottle Bro Inc. In 2018, ThirstBuster had 24,100 empty bottles in ending inventory. For 2019, ThirstBuster has planned to have 75,700 empty bottles in ending inventory. Calculate the number of empty bottles that ThirstBuster should purchase from Bottle Bro Inc. in 2019?
Background It is the 1st April 2021. Jang is the Management Accountant for the business Chinese Lantern Imports. Based on the previous month sales (March 2021) Jang sets the following targets for April 2021. April 2021 targets Targeted Lantern sales = 2,300 units Targeted Lantern unit price = $230 (per lantern) Jang calculates the cost of the Lanterns he will need to purchase in during the month as 50% of the expected sales revenue. However, at the 1st April 2021, Jang already currently has $12,400 of Lanterns stock already in his shop. Jang does not intend to buy an extra Lanterns for May 2021. Question Referring to above information, what is the cost of the Lanterns that Jang needs to purchase in, for the month of April? Select one: a. Cost of Lanterns to purchase in = $237,900 O b. Cost of Lanterns to purchase in = $0 O c. Cost of Lanterns to purchase in = $252,100 O d. Cost of Lanterns to purchase in = $264,500
For the fall season, Mrs. Rose planned to carry total merchandise worth $15,000, at retail, with a cumulative MU goal of 43%. The buyer began the season with merchandise amounting to $5,000 at cost, with a markup of 45%. (Use the grid to reach the answer) What should be the minimum retail value for the remaining purchases for the coming fall season?
Crisper, Inc plans to sell 80,000 bags of potato chips in April, 2023. Each of these bags requires five potatoes. Relevant data includes: Actual April Inventory April 30 Inventory What number of units of raw material should Crisper plan to purchase? Bags of potato chips 15,000 bags 18,000 bags Potatoes 27,000 potatoes 23,000 Potatoes
At the beginning of the year, Boatwise Corporation has 610 life vests in inventory. The company wants to have 3,000 vests in inventory at the end of the year and plans to sell 6,800 life vests during the year. How many life vests must Boatwise Corporation produce during the year?
In January 2020, a retailer sells 100 paper shredders to customers for $100 each. The terms of the sales include a right for the customer to return a shredder within 180 days of the sale date. Based on historical trends, the retailer uses the expected value method and estimates a 40% probability that 8 paper shredders will be returned, a 45% probability that 9 paper shredders will be returned, and a 15% probability that 12 paper shredders will be returned. The retailer also concludes it is highly probable that there will not be a significant reversal of revenue recognized based on this return estimate. Thus, the agreement is a valid contract. Assume no actual returns in January 2020. Determine (1) the transaction price for the sale of shredders for January 2020, and (2) the refund liability balance on January 31, 2020. Round expected returns to the nearest whole unit in your calculations.
ClipClop Company sells horseshoes to customers at a discount of 4% if the customer orders more than 10,000 horseshoes in a year. The price per shoe is $2. In April, Oats Company orders 4,000 horseshoes from ClipClop. Based on past experience with Oats Company, ClipClop expects Oats to meet the volume threshold of 10,000 horseshoes by the end of the year. What amount of revenue should ClipClop record in connection with the April sale? $7,680 $20,000 $0 because ClipClop does not know if Oats will meet the volume discount threshold $8,000
Patiomaster Products manufactures patio furniture. The estimated numbers of sets to be sold for the last three months of 2022 is: Month Sales October 10,000 November 7,000 December 5,000 January 6,000 Finished goods inventory at the end of September is expected to be 3,000 units. Finished goods inventory is set at 30 percent of next month's sales. How many tables will need to be produced in October?
6. New Hampton Company has 40,000 pounds of krypton in inventory at the beginning ofAugust. The company plans to produce 6,000 widgets (its only product) in August. If eachwidget requires 30 pounds of krypton and New Hampton wants 50,000 pounds of krypton ininventory at the end of the month, how many pounds of krypton should the company plan topurchase during August?A. 170,000B. 180,000C. 190,000D. 210,000 Jackie’s Jump Ropes is planning to produce 2,000 boxes of jump ropes during June. Each box ofjump ropes (1 unit) requires 75 feet of rope and 0.50 hours of direct labor. Rope costs $0.12per foot and employees of the company are paid $11.00 per hour. Manufacturing overhead isapplied at a rate of 150% of direct labor costs. Jackie’s has 15,000 feet of rope in beginninginventory and wants to have 20,000 feet of rope in ending inventory.7. How many feet of rope should Jackie’s Jump Ropes plan to buy during June?A. 165,000B. 150,000C. 145,000D. 155,000 8. What is the total cost per unit…
[The following information applies to the questions displayed below.] Shadee Corporation expects to sell 600 sun shades in May and 350 in June. Each shade sells for $158. Shadee's beginning and ending finished goods inventories for May are 65 and 55 shades, respectively. Ending finished goods inventory for June will be 55 shades. Each shade requires a total of $65.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 110 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles Budgeted Cost of Closures Purchased May June

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