7-34 Purchases Budget Leimersheim GmbH has adopted the following policies regarding merchandise purchases and inven- tory. At the end of any month, the inventory should be €15,000 plus 90% of the cost of goods to be sold during the following month. The cost of merchandise sold averages 60% of sales. Purchase terms are generally net, 30 days. A given month's purchases are paid as follows: 20% during that month and 80% during the following month. Purchases in May had been €150,000 and the inventory on May 31 was higher than planned at €230,000. The manager was upset because the inventory was too high. Sales are expected to be June, €300,000; July, €290,000; August, €340,000; and September, €400,000. 1. Compute the amount by which the inventory on May 31 exceeded the company's policies. 2. Prepare budget schedules for June, July, and August for purchases and for disbursements for purchases.

7-34 Purchases Budget Leimersheim GmbH has adopted the following policies regarding merchandise purchases and inven- tory. At the end of any month, the inventory should be €15,000 plus 90% of the cost of goods to be sold during the following month. The cost of merchandise sold averages 60% of sales. Purchase terms are generally net, 30 days. A given month's purchases are paid as follows: 20% during that month and 80% during the following month. Purchases in May had been €150,000 and the inventory on May 31 was higher than planned at €230,000. The manager was upset because the inventory was too high. Sales are expected to be June, €300,000; July, €290,000; August, €340,000; and September, €400,000. 1. Compute the amount by which the inventory on May 31 exceeded the company's policies. 2. Prepare budget schedules for June, July, and August for purchases and for disbursements for purchases.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

jjoijoijuoil;jkjlkkllkmlkmllk
Can i have the answers for all in formula steps not excel please. Kind of hard to understand.
Can you please do A and B by itself? It is confusing me when you combine both.
You guys provided me an expert answer? Cuz the table for the part 1 of the p missing as well on volum PR what do i enter? and the part 2 has a table but c utilized.
Hello, Everytime I make the calculation of the attached pic from step 2 I found different value than " = 438.67 " Can you make it more detailed preferably into several steps of to make it easier for calculation ?
hi im looking at the solution above and have a quuestion-im a littlepuzzled on exactly how i should be plugging in the numbersfor example, the chart liists Time (ln2/(ln(1+r)) but how exactly should i type this in my calculatorto get =l3/J3? maybe im overthinking it
Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!
PLEASE, WRITE THE SOLUTIONS ON PAPER, EXPLAINING THE ENTIRE PROCESS, THE ONLY AND CORRECT ANSWERS ARE FOR (i) V(t) = exp (-2e^0.02t + 2 ) for 0 15 (i) Derive, and simplify as far as possible, expressions in terms of t for V(t), where V(t) is the present value of a unit sum of cash flow made at time t. You should derive separate expressions for the three sub-intervals. (ii) Hence, making use of the result in part (i), calculate the value at time t = 3 of a payment of £2,500 made at time t = 15. (iii) Calculate, to the nearest 0.01%, the constant nominal annual rate of interest convertible half-yearly implied by the transaction in part (ii). (iv) Making use of the result in part (i), calculate the present value of a payment stream p(t) paid continuously from time t = 15 to t = 20 at a rate of payment at time t given by: p(t) = 300e 0.02t
Please answer ASAP if you can please. Thank you! Please Please write expression or formula used Set up expression initially with functional notation (e.g.,(P/F,I,n))
please explain how come you come up with step 3 and Im so confused about the numbers, I'm so sorry I'm not good with math. thank you for your understanding!
Please see attached picture
I used the formula to find the answer. I put it into my system and it market it wrong.