Calculate the monthlyManned sales for August given the following information:% Scason'sSales% Season'sReductionsMonthPlanned Net Sales$342,000August1619Operating Expenses58.5%September1720Planned Profit9.5%October1322Cash Discounts1.3%November1817Reductions16.8%December10Stock Turnover4.5January1412Your Answer:Answerunits

Planned sales are the estimated sales which the company forecasts and produce the commodities…

Calculate the monthlyManned sales for August given the following information: % Season's % Season's Month Sales Reductions Planned Net Sales $342,000 August 16 19 Operating Expenses 58.5% September October 17 20 Planned Profit 9.5% 13 22 Cash Discounts 1.3% November 18 17 Reductions 16.8% December 10 Stock Turnover 4.5 January 14 12 Your Answer: Answer units

Calculate the monthlyManned sales for August given the following information: % Season's % Season's Month Sales Reductions Planned Net Sales $342,000 August 16 19 Operating Expenses 58.5% September October 17 20 Planned Profit 9.5% 13 22 Cash Discounts 1.3% November 18 17 Reductions 16.8% December 10 Stock Turnover 4.5 January 14 12 Your Answer: Answer units

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

7.4 roi sluerae togb The following are forecasts of sales and purchases for a company. Abas Purchases P30,000 bd 90,000nqong 40,000 g IO dol bood ebn30,000 Sales April May June P80,000 85,000 else boiesno All sales are on credit. Records show that 70 percent of the customers pay the month of he sale, 20 percent pay the month after the sale, and the remaining 10 percent pay the second month after the sale. Purchases are all paid the following month at a 2 percent discount. Cash disbursements for operating expenses in June were P5,000. Instructions: Prepare a schedule of cash receipts and disbursements for June. ealee tiban
The following information was extracted from Leeds Ltd's monthly forecast of its sales and expenses for 2022. Month Sales R Purchase R Wages R Miscellaneous Expenses R February 120 000 84 000 10 000 7 000 March 130 000 100 000 12 000 8 000 April 80 000 104 000 8 000 6 000 May 116 000 106 000 10 000 12 000 June 88 000 80 000 8 000 6 000 Additional Information: 1. Sales are realised as follows: 20% realised in the month of sales, discount allowed 2% of cash received. Balance realised equally in two subsequent months. 2. Purchases are paid in the month following the month of supply. 3. Wages are paid in the month they are incurred. 4 . Miscellaneous expenses are paid a month in arrears. 5. Rent of R1 500 per month is paid quarterly in advance. The second quarter payment is due in April. 6. Income tax: First instalment of advance tax, R12 000, due on 15th June. 7. Income of R5 000 from investments is received quarterly, in April, July, etc. 8. Cash in hand on 1st…
Jim's Espresso expects sales to grow by 10.2% next year. Assume that Jim's pays out 81,8% of its not income. Use the following statements and the percent of sales method to forecast the following a. Stockholders' equity b. Accounts payable. a. Stockholders' equity The new stockholders' equity will be 5 (Round to the nearest dollar) b. Accounts payable The forecasted accounts payable will be $ (Round to the nearest dollar)
Calculate February Net Cash Flow (Labeled Z Below): January February March Sales $10,000 $15,000 $20,000 Current Month Collection (40%) $4,000 $6,000 $8,000 Previous Month Collection (60%) $0 $6,000 $9,000 Total Cash Receipts X $12,000 $17,000 Estimated Cash Payments (100%) $3,000 $15,000 $12,000 Net Cash Flow Y Z $5,000 Group of answer choices $54,000 $27,000 $15,000 $3,000 ($3,000)
don't give answer in image format
9
Question: 131 Mercer, Inc. had the following sales for the past six months. Mercer collects its credit sales 30% in the month of sale, 60% one month after the sale, and 10% two months after the sale. Cash Sales Credit Sales January $ 40,000 $ 60,000 February $ 50,000 $ 90,000 March $ 35,000 $ 80,000 April $ 40,000 $ 1,00,000 May $ 60,000 $ 1,20,000 $ 70,000 $ 1,40,000 June What are Mercer's total cash receipts for the month of March? a. $119,000 b. $115,000 c. $141,000 d. $129,000
Problem 4 Assume the foilowing are the projected sales of ABC company: MONTH AND YEAR PROJECTED SALES $ 120,000 April 20X1 May 20X1 100,000 June 20X1 80,000 50,000 July 20X1 August 20X1 September 20X1 60,000 90,000 150,000 October 20X1 Additional information: 80 percent of sales are on credit basis. 30 percent of the accounts receivables are are collected during the second month of sale. collected in one month and the remaining Material cost accounts for 25 percent of sales, V Salary expense accounts for 15 percent of sales, and V Production overheads accounts for 15 percent of sales. Required: based on the above information determine: on August? Company on June?
1-a. How much will net operating income increase (decrease) per month if the monthly advertising budget increases by $8,100 and monthly sales increase by $14,400?
Saved Assume a merchandising company's estimated sales for January, February, and March are $111,000, $131,000, and $121,000, respectively. Its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. It pays for 20% of its merchandise purchases in the month of the purchase and the remaining 80% in the subsequent month. What are the cash disbursements for merchandise purchases that would appear in the company's cash budget for February? Multiple Choice O $72,680 $73,680 $70,680 $67,680 Help Save & Exit Submi
Fast solve plz
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…