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

See similar textbooks

Similar questions

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
Lea Company's sales budget shows the following projections for the year ending Dec. 31, 2021: First quarter 40,000 units Third quarter 50,000 units Second quarter 55,000 units Fourth quarter 45,000 units The quantity of finished goods inventory at the end of each quarter is equal to 40% of the next quarter's budgeted unit sales and is constantly being maintained. What is the total production budget in units for one year ending Dec. 31, 2021 assuming that the estimated sales in units on the first quarter of 2022 is 50,000
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
The management of Jewel Company plans to have a finished goods inventory at the end of each month equal to 10% of the next month's sales. Budgeted sales in units over the next three months are 60,000 in October, 100,000 in November, and 120,000 in December. Budgeted Sales for January is 120,000. The beginning finished goods inventory for October is 60,000. REQUIRED: Compute for budgeted number of units to be produced in October, November and December. Use the template below: October November December Budgeted unit sales Add desired ending finished goods inventory Total needs Less beginning finished goods inventory Required production in units
ABC Farm is preparing a collection budget for the year. Sales are expected to be P100,000 in January; P200,000 in February; and P300,000 in March. Approximately 60% of the sale is collected during the month of sale and the other 40% is collected in the following month. What is the collection for March? 1. P 200,00O 2. P 240,00O 3. P 260,00O 4. P 300,00O O 1 O 2 O 3 O 4
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

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

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

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

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

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS