MORGAN Merchandising is preparing its Sales Budget for the 3rd Quarter of 2020 based on a budgeted sales priceagreed upon at the beginning of the year. To help in the budget preparation, the following information are given:(a) Budgeted sales revenue for the 1st month of 2020 amounted to #375,000.(b) Budgeted quantities sold for the 1st quarter of 2020 is 4,500 units.(c) It is forecasted that the same quantities will be sold per month of each quarter.(d) It is estimated that quantities sold will increase by 500 units on the first month of each quarter from the quantitiessold of the previous month.What is the budgeted sales quantity for the 3rd quarter?2500750015006000

The sales budget: The sales budget gives an estimate of the number of units expected to be sold and…

Answered: MORGAN Merchandising is preparing its…

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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NUBD Company has budgeted its activity for October 2021 based on the following information:i. Sales are budgeted at P300,000. All sales are credit sales and a provision for doubtful accounts is made monthly at the rate of 3% of sales. ii. Merchandise inventory was P70,000 at September 30, 2021 and an increase of P10,000 was planned for the month. iii. All merchandise is marked-up to sell at invoice cost plus 50%. (Gross profit rate based on cost) iv. Estimated cash disbursements for selling and administrative expenses for the month are P40,000. v. Depreciation for the month is projected at P5,000. NUBD is projecting operating income for the month of October 2021 in the amount of:a. 96,000 b. 56,000 c. 55,000 d. 46,000
The SK Industries, Inc. manufactures and sells two products, Accel Active and Accel Regular. In September 2018, SK Industries Budget Department gathered the following data in order to prepare budgets for 2019: 2019 Projected Sales Product Accel Active 45,000|s225 |Units Price Accel Regular 75,000 S1s5 Expected Target Inventories Product January 1, 2019 December 31, 2019 Accel Active 9,000 12,000 Accel Regular 17,000 25,000 The following direct materials are expected to be used in the two products: Material Used per Unit Direct Material Unit Accel Active Accel Regular pound One 6. Two pound 4 2 Three pound Projected data for 2019 with respect to direct materials are as follows: Direct Material Expected Purchase PriceExpected Inventories Target Inventories (January 1, 2019) (December 31, 2019) One $15 27,000 lb 35,000 lb Two S7 30,000 lb 35,000 lb Three $4 4,000 lb 7,000 lb Projected direct labor requirements and rates for 2019 are as follows: Product Hours Per Unit Rate Per Hour Accel…
Pacific Company provides the following information about its budgeted and actual results for June 2019. Although the expected June volume was 25,000 units produced and sold, the company actually produced and sold 27,000 units, as detailed here.
Windsor Company is preparing its master budget for 2022. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales: Sales for the year are expected to total 1,200,000 units. Quarterly sales are 25%, 25%, 25%, and 25%, respectively. The sales price is expected to be $41 per unit for the first three quarters and $44 per unit beginning in the fourth quarter Sales in the first Quarter of 2023 are expected to be 10% higher than the budgeted sales for the first quarter of 2022 Production: Management desires to maintain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume. Direct materials Each unit requires 2 kg of raw materials at a cost of $10 per kilogram. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for the first quarter of 2023 are 410.000 kg. Prepare the Sales Budget by quarter for 2022.
MORGAN Merchandising is preparing its Production Budget for the 3rd Quarter of 2020. Its Sales Budget is prepared using a budgeted sales price per unit agreed upon at the beginning of the year. To help in the Production budget preparation, the following information are given: 1. Inventories at the end of 2019 can be sold for a total of P225,000 at a sales price of P250 per unit. 2. Production runs are only done at the start of each quarter. 3. A minimum of 200 units are to be maintained at the end of each quarter to serve as buffer stocks. 4. Budgeted quantities sold for the 1st quarter of 2020 is 4,500 units. 5. It is forecasted that the same quantities will be sold per month of each quarter. 6. It is estimated that quantities sold will increase by 500 units at the start of each quarter. 7. MORGAN Merchandising estimates a gross profit rate of 35%. What is the beginning inventory for March 2020? A 200 В 1,700 c) 1,500
Scannell, Inc. sells tire rims. Its sales budget for the nine months ended September 30, 2024, and additional information follow: (Click the icon to view the budget.) (Click the icon to view additional information.) Prepare an inventory, purchases, and cost of goods sold budget for each of the first three quarters of the year. Compute cost of goods sold for the entire nine-month period. Plus: Less: More info Scannell, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2024 Quarter Ended March 31 In the past, cost of goods sold has been 40% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $15,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $200,000 during the fourth quarter. The January 1 inv ory was $19,000. Print Done X Data table Cash sales, 30% Credit sales, 70% Total sales $ $ Quarter Ended June 30…
Compute budgeted net income for the year 2020. Rombus tires preparing a budgeted income statement and has the following information. Predicted sales for the year are P850,000 and cost of goods sold is 40% of sales. The expected selling expenses are 81,000 and the expected general and administrative expenses are 70,000, which includes P23,000 of depreciation. Tax rate will be at 25%.
Prepare a sales budget for MYBABY Corporation with the following assumptions.
MORGAN Merchandising is preparing its Production Budget for the 3rd Quarter of 2020. Its Sales Budget is prepared using a budgeted sales price per unit agreed upon at the beginning of the year. To help in the Production budget preparation, the following information are given: 1. Inventories at the end of 2019 can be sold for a total of P225,000 at a sales price of P250 per unit. 2. Production runs are only done at the start of each quarter. 3. A minimum of 200 units are to be maintained at the end of each quarter to serve as buffer stocks. 4. Budgeted quantities sold for the 1st quarter of 2020 is 4,500 units. 5. It is forecasted that the same quantities will be sold per month of each quarter. 6. It is estimated that quantities sold will increase by 500 units at the start of each quarter. 7. MORGAN Merchandising estimates a gross profit rate of 35%. What is the beginning inventory for March 2020? А 200 В 1,700 c) 1,500 D
Reham Co is preparing its direct labor budget for 2020 from the following production budget based on a calendar year. Quarter Units 1 20,000 2 25,000 3 35,000 4 30,000 Each unit requires 1.5 hours of direct labor. Wage rates are expected to be OMR16 for the first 2 quarters and OMR18for quarters 3 and 4. What is the Budgeted Total Direct Labor Cost for Quarter 4
On the basis of the projected proceeding data and projections prepare the following for Year ended ended 31 December 2020: 1. Sales budget.2. Production budget.3. Labour cost budget.
4. Al - Nahdha company is preparing its cash budget for the first half of the year 2022. The company records shows that it has $ 20,000 in the cash at the start of the period. Cash collections from customers for the period are budgeted at $ 56,000. Purchases of inventory as budgeted will cost cash payment during the period of $ 50,000. The Company intends to keep its cash balance at the end of the period at $ 10,000. Other operating expenses for this period are budgeted at $ 30,000, which includes $ 4,000 depreciation and any cash expenses are paid in the month incurred How much borrowing will the company need in the first half of 2022?

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