Johny Company is a merchandising company and has the following information: Month June July August September October Budgeted Sales $68,000 72,000 74,000 76,000 78,000
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- Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Jan. 10 Units 4,000 7,e00 Unit Cost $ 9 Total Cost $ 36,000 70,000 Jan. 18 10 Totals 11,000 106,000 * Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Units 3,00e 1,00e 4,000 Total 8,eee 10,000 units were on hand at the end of the month. 1 Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic systemSubject :- AccountingRooney, Inc. sells fireworks. The company’s marketing director developed the following cost of goods sold budget for April, May, June, and July. April May June July Budgeted cost of goods sold $69,000 $79,000 $89,000 $95,000 Rooney had a beginning inventory balance of $3,900 on April 1 and a beginning balance in accounts payable of $14,800. The company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. Rooney makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the month following purchase. Required Prepare an inventory purchases budget for April, May, and June. Determine the amount of ending inventory Rooney will report on the end-of-quarter pro forma balance sheet. Prepare a schedule of cash payments for inventory for April, May, and June. Determine the balance in accounts payable Rooney will report on the…
- Production and sales estimates for June for Robin Co. are as follows: Estimated inventory (units), June 1 8,000 Desired inventory (units), June 30 9,000 Expected sales volume (units): Territory X 4,000 Territory Y 10,000 Territory Z 6,000 Unit sales price $25 The budgeted total sales for June is a.$500,000 b.$525,000 c.$200,000 d.$225,000Triple B, Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales dates for April, prepare (1) a sales budget and (2) a production budget. RUMBLE Estimated inventory (units), April 1 1,000 Desired inventory (units), April 30 500 THUNDER 500 100 Expected sales volume (units) East Region 10,000 20,000 West Region 5,000 10,000 Unit sales price $ 100 $ 50answer in text form please (without image)
- Fill in blanks with blue arrows please and thank youShadee Corp. expects to sell 600 sun visors in May and 440 in June Each visor sells for $14Shadee's beginning and endin goods inventories for May are 85 and 40 units, respectively Ending finished goods inventory for June will be 55 units expects the following unit sales for the third quarter July August September 545 480 440 Sixty percent of Shadee's sales are cashOf the credit sales52 percent is collected in the month of the sale38 percent is c during the following month , and 10 percent is never collected Required : Calculate Shadee's total cash receipts for August and September (Do not round your intermediate calculations . Round you to the nearest whole dollar )[The following information applies to the questions displayed below.]Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 9 $ 27,000 Jan. 18 4,000 10 40,000 Totals 7,000 67,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on hand at the end of the month. 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.)
- Oak Tree Villa operates a retail business. Purchases are sold at cost plus 331/3%. Or put another way. purchases are 75% of sales. Budgeted sales K Labour cost K Expenses incurred K January 40,000 3,000 4,000 February 60,000 3,000 6,000 March 160,000 5,000 7,000 April 120,000 4,000 7,000 It is management policy to have sufficient inventory in hand at the end of each month to meet sales demand in the next half month. Payables for materials and expenses are paid in the month after the purchases are made or the expenses incurred. Labour is paid in full by the end of each month. Expenses include a monthly depreciation charge of K2,000. 75% of sales are for cash. 25% of sales are on one month's interest-free credit The company will buy equipment for cash costing K18,000 in February and will pay a dividend of K 20,000 in March. The opening cash balance at 1 February is K1,000. Required (a) Prepare a cash budget for February and MarchYoshino, Inc., a merchandising company, has the following budgeted figures: Jan Feb Mar April Sales $51,900 $69,000 $80,000 $91,000 Cost of goods sold 50% of sales Required ending inventory $15,000 + 20% of next month's sales Inventory on hand on Jan 1 $27,000 Calculate the ending merchandise inventory for the month of March. A. $33,200 B. $55,000 C. $40,000 D. $27,750Assume a merchandising company's estimated sales for January, February, and March are $107,000, $ 127,000, and $117,000, 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 $68,280 $65, 280 $71,280 $70,280
