ACTUAL OPERATING RESULTS CURRENT MONTH Revenue Source Number of Guests Restaurant Lounge Banquet room Total 3492 515 388 4395 Average Sale per Guest $20.50 $12.00 $28.50 $20.21 Sales $71,586 $6,180 $11,058 $88,824 Create the revenue forecast for next month based on the following assumptions. A. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00. B. Lounge guests to be served are estimated at 525 with a 10 percent increase in average

ACTUAL OPERATING RESULTS CURRENT MONTH Revenue Source Number of Guests Restaurant Lounge Banquet room Total 3492 515 388 4395 Average Sale per Guest $20.50 $12.00 $28.50 $20.21 Sales $71,586 $6,180 $11,058 $88,824 Create the revenue forecast for next month based on the following assumptions. A. Restaurant guest counts will be 3,600 with an average sale per guest of $21.00. B. Lounge guests to be served are estimated at 525 with a 10 percent increase in average

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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SALES PROJECTIONS Wilson Sports basketball sales in August were 152,000 units. Sales are expected to grow by 1.5% in September. October sales are expected to be 1,000 units less than in September. November sales will be 19% more than October. The selling price of the basketballs will remain the same $30 per unit. December sales projection is 157.000 units. INVENTORY POLICIES FINISHED GOODS MAINTAIN AND ENDING INVENTORY EQUAL TO 25% OF NEXT MONTH SALES ACTUAL BEGINNING INVENTORY 38,500 UNITS DIRECT MATERIALS MAINTAIN AND ENDING INVENTORY EQUAL TO 30% OF NEXT MONTH PRODUCTION ACTUAL BEGINNING INVENTORY 9,000 POUNDS The cost of materials purchased in August were $210,000 REQUIREMENTS Each basketball requires 25 pounds of materials at a cost of $7 per pound. December production are projected to be 156,000 units Each basketball requires 15 minutes of labor at a rate of $12.00 per hour Fixed Overhead is $400,000 monthly and variable overhead is assigned as 130% of direct labor SELLING AND…
Assume Will & Partners LLP has the following information on the number of sales orders received and order - processing costs for the latter half of 2022: Use the high -low method to estimate the order -processing costs if Will & Partners receives 3,500 sales orders in December (assume none of the above values are outliers) $36,000 $ 44,600 $38,400 $ 37,333 $42,000
Using the following data for for Rodriguez Art Studio to prepare a cash follow forecast. - Sales revenue: $10,000 March, $10,000 April, $9,000 May, $11,000 June. - Payment from customers is 50% paid in cash, 50% paid on one months credit - Direct Costs $5,500 April, $4,950 May, $6,060 June. - Opening Cash Balance in April $1,200 - Indirect Costs are $5,100 per month. What is the Total Cash inflow in May? Options -$4,500 -$11,200 -$10,000 -$9,500 What is the Net Cash flow in April? Options -$-600 -$660 -$-610 $600
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