anton Company makes one product and it provi ving information to help prepare the master bud e budgeted selling price per unit is $65. Budget ne, July, August, and September are 9,000, 21,0 ,000 units, respectively. All sales are on credit. irty percent of credit sales are collected in the m d 70% in the following month. e ending finished goods inventory.equals 30%
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- Aztec Company sells its product for $180 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) . 4,000 $ 720,000 May (actual) 2,000 360,000 June (budgeted) . 6,000 1,080,000 July (budgeted) 5,000 900,000 August (budgeted) . 3,800 684,000 All sales are on credit. Recent experience shows that 20% of credit sales is collected in the month of the sale, 50% in the month after the sale, 28% in the second month after the sale, and 2% proves to be uncollectible. The product’s purchase price is $110 per unit. 60% of purchases made in a month is paid in that month and the other 40% is paid in the next month. The company has a policy to maintain an ending monthly inventory of 20% of the next month’s unit sales plus a safety stock of 100 units. The April 30 and May 31 actual inventory levels are consistent with this policy. Selling and administrative expenses for the year are $1,320,000 and are paid evenly throughout the year in cash. The company’s minimum cash balance at…Kent Company has a sales budget for next month of $1,000,000. Cost of goods sold is expected to be 25 percent of sales. All goods are paid for in the month following purchase. The beginning inventory of merchandise is $50,000, and an ending inventory of $64,000 is desired. Beginning accounts payable is $160,000. For Kent Company, the ending accounts payable should be: Select one: O A. $341,000 B. $414,000 C. $264,000 D. $356,000Kemmerly Company opens in September and plans to purchase wallets for $15 and sell them for $20 per wallet. Kemmerly Company maintains ending inventory of 25% of next months sales. They plan to sell 1,800 units in September, 2,000 in October, and 2,250 in November. What is the budgeted cost of goods sold in November?
- Aztec Company sells its product for $150 per unit. Its actual and budgeted sales follow. May (Actual) June (Budget) July (Budget) August (Budget) 6,000 4,100 $ 900,000 2,400 5,000 $360,000 $750,000 $ 615,000 Sales units Sales dollars. All sales are on credit. Collections are as follows: 24% is collected in the month of the sale, and the remaining 76% is collected in the month following the sale. Merchandise purchases cost $110 per unit. For those purchases, 60% is paid in the month of purchase and the other 40% is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of 22% of the next month's unit sales. The May 31 actual inventory level of 1,320 units is consistent with this policy. Selling and administrative expenses of $114,000 per month are paid in cash. The company's minimum cash balance at month-end is $140,000. Loans are obtained at the end of any month when the preliminary cash balance is below $140,000. Any preliminary cash…Folgerty Enterprises prepared the following sales budget: Month Budgeted Sales March $6,000 April $13,000 May $12,000 June $14,000 The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired finished goods inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired beginning finished goods inventory on June 1 (in dollars)? Select one: a. $1,960 b. $840 c. $1,680 d. $9,800 e. $1,860Prepare the cash payments budget for direct materials purchases for the months of January, February, and March, as well as a summary for the first quarter. Birdfeeders Unlimited makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores. $15 Sales price per birdfeeder 1.5 Board feet of wood required for each birdfeeder $4 Cost per board foot (actual) 10% Desired ending wood inventory stated as a percentage of next month’s production requirements 20% Desired ending finished goods inventory (finished birdfeeders) stated as a percentage of next month’s sales $550,000 Total cost of direct materials purchases in December 45% of direct materials purchases are paid in the month of purchase 55% of direct materials purchases are paid in the month after purchase
- Masde Corporation produces and sells Product CharlieD. To guard against stockouts, the company reguires that 25% of the next month's sales be on hand at the end of each month. Budgeted sales of Product CharlieD over the next four months are: June July August September 80,000 Budgeted sales in units 40,000 60,000 50,000 Budgeted production for August would be: Multiple Cholce 57,500 units 107,000 units 77,000 units 80,000 units 1:5 W 74°F Mostly sunny ,园 pe here to search 10/20 DELLIvanhoe Company, a retailer of camping supplies has budgeted activity for January using the following data: January cash sales January credit sales Collections from December credit sales Selling and administrative costs (paid in month of purchase) Depreciation expense Merchandise Inventory, January 1 Merchandise Inventory, January 31 Cost of goods sold is 30% of Cooper's selling price All purchases are paid in cash Credit sales are collected 60% in the month of sale, 30% in the following month, and 10% is deemed uncollectible What is Ivanhoe's budgeted cash disbursements for January? Total January disbursements $ $59,000 386,000 155,000 59,000 22,000 199,000 211,000Required information Skip to question [The following information applies to the questions displayed below.] Morganton Company makes one product and provided the following information to help prepare its master budget: The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively. All sales are on credit. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 25% of the following month’s unit sales. The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. The direct labor wage rate is $14 per hour. Each unit of finished goods requires…
- Help me please近 Requlred Information [The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,300, 14,000, 16.000, and 17.000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two…Lexi Company budgets unit sales of 1,510,000 in April, 1,210,000 in May, 320,000 in June, and 1,940,000 in July. Beginning inventory on April 1 is 604,000 units, and the company wants to have 40% of next month's unit sales in inventory at the end of each month. The merchandise cost per unit is $0.50. Prepare a merchandise purchases budget for the months of April, May, and June. LEXI COMPANY Merchandise Purchases Budget April May June Next period budgeted sales units Ratio of inventory to future sales Total required units Units to purchase Cost per unit Cost of merchandise purchases $ $ $