Navigator sells GPS trackers for $50 each. It expects sales of 5,000 units in quarter 1 and a 5% increase each subsequent quarter for the next 8 quarters. PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Budgeted Costs Desired Ending Inventory Sales Price per Unit Expected Sales (units) Required Production Purchases Required Beginning Inventory Total Sales Revenue Total Required Units Using the information above, along with the terms above, prepare a sales budget by quarter for the first year (use the format shown in the textbook): Navigator Sales Budget For the Year Ended Dec. 31, 2019 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total

Navigator sells GPS trackers for $50 each. It expects sales of 5,000 units in quarter 1 and a 5% increase each subsequent quarter for the next 8 quarters. PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Budgeted Costs Desired Ending Inventory Sales Price per Unit Expected Sales (units) Required Production Purchases Required Beginning Inventory Total Sales Revenue Total Required Units Using the information above, along with the terms above, prepare a sales budget by quarter for the first year (use the format shown in the textbook): Navigator Sales Budget For the Year Ended Dec. 31, 2019 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Navigator sells GPS trackers for $50 each. It expects sales of 5,000 units in quarter 1 and a 5% increase each subsequent quarter for the next 8 quarters. Prepare a sales budget by quarter for the first year. NOTE: Enter amounts rounded to the nearest whole dollar. Quarter 1 Quarter 2 Quarter 3 Expects Sales in Units Sales Price per Unit Expects Sales in Dollars S $50 SA $50 $ 69 $50 Quarter 4 $50 $ 60 TOTAL $50
Labor costs per hour and the other costs are not expected to change during the year. However, the cotton cost per yard will increase by 20% at the start of the coming budget period. The current inventory of blue rugs is 60,000 units and management would like to see an increase of inventory to 105,000 units. Production will occur evenly throughout the year. Inventory levels for c aining Time: 2 hours, 49 minutes, 34 seconds. stion Completion Status: 2 3. 4 5. 17 8. 6. 10 11 12 13 14 15 16 17 18 19 20 21 Xander Manufacturing Company manufactures blue rugs. The company needs to prepare a budget for the coming year. The following costs and other data apply to rug production: Direct materials per rug 1.0 yard cotton at $3 per yard 0.2 yards canvas finish at $10 per yard Direct labor per rug: 0.5 hour at S16 per hour Overhead per rug Indirect labor Indirect materials per $0.5 0.15 Power 0.3 Machine costs 1.25 Lease costs 0.8 Total overhead per unit $3.0 Bixed costs include the machine costs…
Please answer the following two independent questions. PLEASE NOTE: Unit answers are without labels and are rounded to whole numbers and shown with commas as needed (i.e. 12,345). · Blue Book printing is budgeting sales of 25,000 units and already has 5,000 units in beginning inventory. How many units must be produced to also meet the 7,000 units required in ending inventory? Units produced equals · How many units are in beginning inventory if 32,000 units are budgeted for sales, 35,000 units are produced, and the desired ending inventory is 9,000 units? Beginning Inventory is units.
keep costs down, CGC maintains a warehouse but no showroom or retail sales outlets. CGC has the following information for the second quarter of the year: 1. Expected monthly sales for April, May, June, and July are $180,000, $150,000, $270,000, and $50,000, respectively. 2. Cost of goods sold is 45 percent of expected sales. 3. CGC's desired ending inventory is 55 percent of the following month's cost of goods sold. 4. Monthly operating expenses are estimated to be: . Salaries: $33,000. ° Delivery expense: 8 percent of monthly sales. • Rent expense on the warehouse: $2,500. • Utilities: $500. • Insurance: $330. • Other expenses: $430. Required: 1. Compute the budgeted cost of purchases for each month in the second quarter. 2. Complete the budgeted income statement for each month in the second quarter. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the budgeted cost of purchases for each month in the second quarter. Total Cost of…
Ghala Company estimates its sales at 200,000 units in the first quarter and that sales will increase by 20,000 units each quarter over the year. They have, and desire, a 25% ending inventory of finished goods. Each unit sells for OMR 35. Production in units for the third quarter should be budgeted at? Select one: a. None of the answers are correct O b. 305,000. O c.230,000. O d. 240,000. O e. 245,000.
Navigator sells GPS trackers for $60 each. It expects sales of 5,200 units in quarter 1 and a 5% Increase each subsequent quarter for the next 8 quarters. Prepare a sales budget by quarter for the first year. Round final answers to nearest whole dollar. Navigator Sales Budget For the Year Ending Dec. 31, 20XX Quarter 1 Quarter 2 Quarter 3 Quarter 4 8 Expected Sales (Units) Sales Price per Unit Total Sales Revenue Total
1. Please answer the following two independent questions. PLEASE NOTE: Unit answers are without labels and are rounded to whole numbers and shown with commas as needed (i.e. 12,345). Blue Book printing is budgeting sales of 25,000 units and already has 5,000 units in beginning inventory. How many units must be produced to also meet the 7,000 units required in ending inventory? Units produced equals ? . How many units are in beginning inventory if 32,000 units are budgeted for sales, 35,000 units are produced, and the desired ending inventory is 9,000 units. Beginning Inventory is ? units.
A company has annual demand for its product of 800,000 units. Eachunit costs $10. Ordering costs are $400 per order and the annual holdingcost per unit is $0.85.A 0.65% discount is available on all orders of atleast 15,000 units and a 0.75% discount for orders of at least 35,000units.Required:-Calculate the optimum order level to reduce total inventory costs
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Fun Foot buys hiking socks for $5 a pair and sells them for $10. Management budgets monthly fixed expenses of $35,000 for sales volumes between 0 and 12,000 pairs. Requirements 1. Use the income statement approach and the shortcut unit contribution margin approach to calculate monthly breakeven sales in units. 2. Use the shortcut contribution margin ratio approach to compute the breakeven point in sales revenue (sales dollars). 3. Calculate the monthly sales level (in units) required to earn a target operating income of $11,000. Use either the income statement approach or the shortcut contribution margin approach. 4. Prepare a graph of Fun Foot's CVP relationships. Draw the sales revenue line, the fixed expense line, and the total expense line. Label the axes, the breakeven point, the operating income area, and the operating loss area. Requirement 1. Use the income statement approach and the shortcut unit contribution margin approach to calculate monthly breakeven sales in units. Let's…