Incorrect The Cabello Company buys air conditioners for $3,900 and sells them for $4,800 each; the company has the following sales forecast: April 120 units May 140 units June 180 units The company wants to maintain ending inventory for each month at 15% of the next month's sales and had 20 units on hand on April 1st. The company also has monthly rent of $15,000 and salaries of $80,000. What total dollar amount would appear on the company's sales budget for April?
Incorrect The Cabello Company buys air conditioners for $3,900 and sells them for $4,800 each; the company has the following sales forecast: April 120 units May 140 units June 180 units The company wants to maintain ending inventory for each month at 15% of the next month's sales and had 20 units on hand on April 1st. The company also has monthly rent of $15,000 and salaries of $80,000. What total dollar amount would appear on the company's sales budget for April?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help me with all answers and correct answer thanku
Transcribed Image Text:Incorrect
The Cabello Company buys air conditioners for $3,900 and
sells them for $4,800 each; the company has the following
sales forecast:
April 120 units
May 140 units
June 180 units
The company wants to maintain ending inventory for each
month at 15% of the next month's sales and had 20 units on
hand on April 1st. The company also has monthly rent of
$15,000 and salaries of $80,000.
What total dollar amount would appear on the company's
sales budget for April?
Show Transcribed Text
Incorrect
Incorrect
468,000
What total dollar amount would appear on the company's
purchases budget for May?
546,000
What amount of net income would appear on the
company's income statement budget for June?
702,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education