Outdoors Company expects to sell 7,000 units for $200 each for a total of $1,400,000 in January and 1,500 units for $230 each for a total of $345,000 in February. The company expects cost of goods sold to average 70% of sales revenue, and the company expects to sell 4,200 units in March for $290 each. Outdoors' target ending inventory is $17,000 plus 50% of the next month's cost of goods sold. Prepare Outdoors' inventory, purchases, and cost of goods sold budget for January and February. Outdoors Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases January February

Outdoors Company expects to sell 7,000 units for $200 each for a total of $1,400,000 in January and 1,500 units for $230 each for a total of $345,000 in February. The company expects cost of goods sold to average 70% of sales revenue, and the company expects to sell 4,200 units in March for $290 each. Outdoors' target ending inventory is $17,000 plus 50% of the next month's cost of goods sold. Prepare Outdoors' inventory, purchases, and cost of goods sold budget for January and February. Outdoors Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases January February

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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• Off ACC220Chaps16-18SP19 - Protected View O Search A Steven Dorfman ome Insert Page Layout Formulas Data Review View Help A Share P Comments TED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing B D F G H. J 6 Al's Car Wash has two departments, Prepping and Washing. Once a car has been washed, the customer pays by cash or credit card and leaves. The following selected transactions occurred during July of 2018. a. Al purchased Raw Materials of $53,000 b. Raw Materials of $46,000 were requisitioned to the Prepping Department c. $44,000 of costs were transferred to the Washing Department d. $42,000 of fully washed cars were awaiting customer pickup e. Customers picked up all cars that were waiting and Al collected $72,000 for the Prepping and Washing Services Required: Journalize the above transactions Test
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42 O Browser geNOWv2 | Online teachin X + n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false DSU AcadCalendar C crunchy roll crunchy roll A Home - Hudl Spotify EReadir U D2L O DSU Support PDSU WebMail O DSU Account Monaco & Associates Use the following five transactions for Monaco & Associates, Inc. to answer the question(s). October 1 Bills are sent to clients for services provided in September in the amount of $800. Dravo Co. delivers office furniture ($1,060) and office supplies ($160) to Monaco 6 leaving an invoice for $1,220. 15 Payment is made to Dravo Co. for the furniture and office supplies delivered on October 9. 23 A bill for $430 for electricity for the month of September is received and will be paid on its due date in November. 31 Salaries of $850 are paid to employees. Based only on these transactions, what is the total amount of expenses that should appear on the income statement for the month of October? Oa. $1,280 Ob. $430…
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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
List Paragraph For the... badiya aldujaili BA AutoSave ff Search EN File Home Insert Draw Design Layout References Mailings Review View Help A Share O Comments X Cut - A^ A° Aav A E - E - E E E O Find - Calibri (Body) 11 AaBbCcDc AaBbCcDc AaBbC AABBCCC AaB AAB6CCC AaBbCcDa 自Copy Paste S Replace В IUvab х, х* А I Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em... A Select v Dictate Editor Format Painter Clipboard Font Paragraph Styles Editing Voice Editor 1. 2 4 5 6. 7 If Busby Corporation's variable cost ratio is 0.75, targeted after tax net income is $27,580 (tax rate of 20%), and targeted sales volume in dollars is $219,000 then Busby's total fixed costs are: a. $27,170 b. $71,380 c. $20,275 d. $136,670 e. $129,775 f. $26,350 g. $54,750 Page 3 of 3 331 words English (United States) Focusם 160% 8:28 PM O Type here to search ENG 2/11/2021 (凸) . I . I ..?. . . E • . . L. . . t .. I ..
* CengageNOWv2 | Online teachin X b Home | bartleby x + A v2.cengagenow.com/iln/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false * D 9 : M Gmail O YouTube Maps Blackboard HW #9 - Chpt 21 O eBook Show Me How E Print Item 1. TMM.21.01 Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): 2. TMM.21.02 Sales $14,100 3. TMM.21.03 Food and packaging $5,994 Рayroll 3,600 4. TMM.21.04 Occupancy (rent, depreciation, etc.) 1,986 5. EX.21,01 General, selling, and administrative expenses 2,100 $13,680 6. EX.21.02 Income from operations $420 7. EX.21.03 Assume that the variable costs consist of food and packaging; payroll; and 40% of the general, selling, and administrative expenses. 8. EX.21.06.ALGO a. What is Wicker Company's contribution margin? Round to the nearest million. (Give answer in millions of dollars.) million 9. EX.21.09.ALGO b. What is Wicker…
Title · The following assets were received from Dereje: cash, $20,000; accounts receivable, $4,500;... Description · The following assets were received from Dereje: cash, $20,000; accounts receivable, $4,500; supplies, $2,000; and office equipment, $11,500. There were no liabilities received. · 1. Paid three months’ rent on a lease rental contract, $6,000. · 2. Paid the premiums on property and casualty insurance policies, $2,400. · 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $2,700. · 5. Purchased additional office equipment on account from Office Depot Co., $3,500. · 6. Received cash from clients on account, $3,000. · 10. Paid cash for a newspaper advertisement, $200. · 12. Paid Office Depot Co. for part of the debt incurred on June 5, $750. · 12. Recorded services provided on account for the period June 1–12, $5,100. · 14. Paid part-time receptionist for two weeks’ salary, $1,100. · 17. Recorded cash…