MORGAN Merchandising is preparing its Sales Budget for the 3rd Quarter of 2020 based on a budgeted sales price agreed 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 quantities sold of the previous month. What is the budgeted sales revenue for the 3rd quarter? P625,000.00 P1,875,000.00 P1,125,000.00 P4,500,000.00

MORGAN Merchandising is preparing its Sales Budget for the 3rd Quarter of 2020 based on a budgeted sales price agreed 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 quantities sold of the previous month. What is the budgeted sales revenue for the 3rd quarter? P625,000.00 P1,875,000.00 P1,125,000.00 P4,500,000.00

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 3P: Budgeted selling and administrative expenses for King Tire Co. In P7-2 for the year ended December...

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MORGAN Merchandising is preparing its Sales Budget for the 3rd Quarter of 2020 based on a budgeted sales price agreed 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 quantities sold of the previous month. What is the budgeted sales quantity for the 3rd quarter? 2500 7500 1500 6000
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
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