June OMR 180,000 July OMR 192,000 August OMR 108,000 September OMR 174,000 October OMR 126,000 November OMR 140,000
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- Month Total Sales January February March April May June R550 000 R500 000 R480 000 R400 000 R425 000 R600 000 Cash Sales amount to 25% of the total sales. Collections of the credit sales are as follows: 40% in the month of sale and is a subject to a 4% discount 30% one month after the month of sale 28% two months after the month of sale The remainder is uncollectable Solly Limited inventory requirements are equal to 30% of the next months sales. The purchases' terms of payment require a down payment of 45% and the balance is payable 30 days thereafter. July's total sales are expected to be R620 00. Solly Limited had a bank overdraft of R150 000 on 1 May 2016. Required Prepare a acash budget for Solly Limited for the Month of May and June 2016.Show all your calculations.3. The following information relates to a retail company for the year ending 31 December Budgeted sales revenue 500,000 Breakeven sales revenue 350,000 Budgeted contribution 300,000 Breakeven contribution 210,000 Which of the following is the company's margin of safety? £90,000 £140,000 £150,000 £210,000Solve the problem given below in the attached picture
- September October November Sales $119,000 $143,000 $199,000 Manufacturing costs 50,000 61,000 72,000 Selling and administrative expenses 42,000 43,000 76,000 Capital expenditures _ _ 48,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $8,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: Current…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)3. The company’s sales manager prepared the following sales forecast for the first half of the year. January $235,000February 198,000March 211,000April 285,000May 300,000June 305,000 Historically, the cash collection of sales has been as follows:• 47% of sales collected in the month of sale• 50% of sales collected in the month following the sale • 3% of sales collected in the second month following the sale• All sales are on accountPrepare the schedule of the cash collection of Accounts Receivable for the second quarter
- 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. $129,000Problem 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?July May $128,000 $156,000 $218,000 54,000 67,000 78,000 42,000 48,000 52,000 The company expects to sell about 12% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $9,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in September, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Sales Manufacturing costs Selling and administrative expenses 37,000 Capital expenditures Current assets as of May 1 include cash of $49,000, marketable securities of $69,000, and accounts receivable of $152,800 ($112,000 from April sales and $40,800 from March sales). Sales on account for March and April were $102,000 and…
- If the average cost of printing a flyer is 4 pence, how many were printed in the last Financial Year? Cost of Pronmotional Activities in Last Financial Year Total cost over year: £80,000 9% O 200,000 15% 25% 18% O300,000 33% 400,000 Stationery Leaflets Brochures Advertising Flyers 600,000 900,00011 Sohar Alluminum LLC sales information is given below June OMR 180,000 July OMR 192,000 August OMR 108,000 September OMR 174,000 October OMR 126,000 November OMR 140,000 December OMR 160,000 50% of credit sales are realized in the month following the sale and the remaining 50% in the second month following. How much amount will be collected from sales in September month? a. OMR 120,000 b. None of these c. OMR 180,000 d. OMR 150,00016 The Lumber Yard has projected the sales below for the next four months. The company collects 36 percent of its sales in the month of sale, 45 percent in the month following the month of sale, 18 percent two months after the month of sale, and never collects 1 percent of its sales. How much will the company collect in April? January Sales $ 138,050 Multiple Choice O STY9747 $151123 $154,217 $155.493 March February $ 144,525 $ 151,975 April $ 166,150
