FRANCORP is preparing budgets for the quarter ending March 31. Budgeted sales for the next 5months are as follows:16250 unitsJanuaryFebruary16950 unitsMarchAprilMay17200 units18350 units17900 unitsThe selling price per unit is $15.Determine the total budgeted sales for the month of January.$205,100O $243,750O $285,900O $250,150

The total budgeted sales of a company is the revenue that the company expects to earn over a…

Answered: FRANCORP is preparing budgets for the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Avril Company makes collections on sales according to the following schedule:30% in the month of sale60% in the month following sale8% in the second month following saleThe following sales are expected: JAN -$100,000; FEB- $120,000 ; MAR- $110,000 . Cash collections in March should be budgeted to be: *
Ivanhoe Design provided the following budgeted information for April through July: April May June July Projected sales $112320 $132840 $124200 $142560 Projected merchandise purchases $88560 $99360 $84240 $71280 The cash balance on June 1 is $12960. The company pays 40% of merchandise purchases in the month purchased and 60% in the following month. General operating expenses are budgeted to be $33480 per month of which depreciation is $3240 of this amount. Management pays operating expenses in the month incurred. The company makes loan payments of $4320 per month of which $648 is interest and the remainder is principal. How much are budgeted cash disbursements for June? $111024. $127872. $93312. $68256.
Whispering Winds Company estimates that unit sales will be 10,500 in quarter 1; 12,600 in quarter 2; 13,800 in quarter 3; and 17,800 in quarter 4. Management wants to have an ending finished goods inventory equal to 21% of the next quarter's expected unit sales. Prepare a production budget by quarters for the first six months of 2022. WHISPERING WINDS COMPANY Production Budget For the Six Months Ending June 30, 2022 Quarter 1 2 Total
Infinity Inc. has provided the following projected sales units for the next quarter: Projected Sales First month Second month Third month Projected sales units 20,000 25,000 30,000 Desired ending inventory is determined to be 12% of the next month’s projected sales. What would be the budgeted production units during the second month of the quarter? Group of answer choices 25,600 units 28,600 units 31,600 units 26,400 units
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 $ $ $
Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Sales Budget Cash Sales Sales on Account April May June 95,000 69,000 120,000 435,000 484,000 470,000 530,000 553,000 590,000 Bright Minds expects to collect 70% of the sales on account in the month of sale, 20% in the month following the sale, and the remainder in the second month following the sale. What is the ending accounts receivable balance that would be reported on the pro forma balance sheet prepared as of June 30?
Harden, Incorporated, has budgeted sales in units for the next five months as follows: June July August September October 9,000 units 7,300 units 9,100 units 8,800 units 6,900 units Past experience has shown that the ending inventory for each month should be equal to 20% of the next month's sales in units. The inventory on May 31 contained 1,800 units. The company needs to prepare a production budget for the next five months. The beginning inventory for September should be: Multiple Choice 1,800 units 1,760 units O 1,820 units 1,380 units
Silver Company makes a product with peak sales in May of each year. Its sales budget for the second quarter is given below: Budgeted sales (all on account) April $300,000 May $500,000 June $200,000 Total $1,000,000 The company estimates 20% of a month's sales are collected in the month of sale, another 70% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $230,000, and March sales totaled $260,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. What is the accounts receivable balance on June 30th? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. Schedule of Expected Cash Collections February sales March sales April sales May sales June…
The following table presents selected information for Superior Flooring's monthly production budgets for the coming year. Superior's inventory policy is to have ending inventory equal to 10% of the next month's sales. April May June Desired ending inventory ? ? ? Beginning inventory 300 ? Q10 Budgeted sales 2,800 3,100 3,500 Budgeted production Q9 3,140 3,400 What is the budgeted production in April? 2,790 2,810 3,410 2,500
COVID19Co. has forecast purchases on account to be $316.000 in March. $377.000 in April. $429.00o in May, and $491.000 in June. Sixty percent of purchase paid for in the month of purchase, the remaining 40% are paid in the following month. What is the budgeted Accounts Payable balance for April 30?

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