Problem 2. JAYSON Inc. has projected sales to be P600 o00 in January. P750 000 in February, and P800 000 in March. JAYSON wants to have 50% of nexl month's sales needs on hand al the end of each month. JAYSON's cost of sales to sales ratio is 60%. Determine February purchases.
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- ARE YOU READY TO PRACTICE: Complete the table below. A Company has the following sales 2,000 in January, 2,200 in February, 2,800 in Apr and 3,000 in May. Assuming the selling prices is P100/unit. Sales for each month ar expected to be collected as follows: • Month of sales: 20% ► A month after sales: 50% ► 2 months after sales: 30% - How much is total receipts from sales? Apr Jan Feb Mar May Total Units Sold 12, 500 P1,250,000 P250,000 Sales in Pesos Collection from current months sales Collection from previous P150,000 months sales Collection from two months P84,000 sales Total Collections from Sales 40,000 P926,000 PRACTICE EXERCISE 1: Fill the table below. A Company has the following sales 2,000 in January, 2,200 in February, 2,800 in April and 3,00 in May. Assume that cost per unit is PHP50. All purchases this month are paid the following month. How much is total cash disbursements for purchases? Jan Feb Mar Apr May Total Required production Cost in Pesos Payment from current…Florida Co. has projected sales to be P60,000 in January, P75,000 in February, and P80,000 in March. Florida wants to have 25% of next month’s sales needs on hand at the end of a month. If Florida has an average gross profit of 40%, what are the February purchases?A Company has the following sales 2,000 in January, 2,200 in February, 2,800 in April and 3,000 in May. Assuming the selling prices is P100/unit. Sales for each month are expected to be collected as follows: • Month of sales: 20% • A month after sales: 50% • 2 months after sales: 30% - How much is total receipts from sales? Feb Total 12, 500 P1,250,000 P250,000 Jan Мar Apr May Units Sold Sales in Pesos Collection from months sales current Collection months sales Collection from two months from previous P150,000 P84,000 sales Total Collections from Sales 40,000 P926,000
- Consider the following information: Jan Feb Mar Sales (units) 4.9k 52.00k Production (units) 5.8k 52.30k 56.65k April sales are expected to be 71.50k units. The firm has 9.1k units on hand at the beginning of Jan and wishes to maintain 10% of the next month's unit sales in storage at the end of each month. Required: Calculate the expected unit sales for Mar. Note: The term "K" is used to represent thousands (x 1,000). kunits (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)JT Department Store expects to generate the following sales for the next three months: August $460,000 $580,000 September $620,000 July Expected sales... JT's cost of gods sold is 60% of sales dollars. At the end of each month, JT wants merchandise inventory balance equal to 20% of the following month's expected cost of goods sold. What dollar amount of merchandise inventory should JT plan to purchase in August? A. $352,800 correct answer don'4 know how to get it B. $327,800 C. $257,400 D. $314,600 6.Use the following (very simplified) numbers in creating your pro-forma income statement: Sales start at $1000 for January and increase by 10% per month (so, February sales will be $1100, March sales will be $1210, etc.). The venture uses a markup of 100%, so the cost of goods is 50% of the sales amount (so, January cost of goods is $500, February cost of goods is $550, etc.). The venture pays a salary of $500/month for the first 6 months, then hires an additional employee in July and pays $1000/month for the rest of the year. The venture pays a total overhead cost (including rent, utilities, and insurance) of $50/month. Payroll taxes start out at $20/month for January-June, then increase to $40/month for July-December. The venture's assets depreciate by $10/month. Office expenses are $15/month for January-April, increase to $25/month for May-August, and go back down to $15/month for September-December
- MJ Department Store expects to generate the following sales figures for the next three months: July $480,000 August $560,000 September $600,000 MJ's gross profit (margin) rate is 45% of sales dollars. At the end of each month, MJ wants a merchandise inventory balance equal to 30% of the following month's expected sales, stated at cost. What dollar amount of merchandise inventory should MJ plan to purchase in August? a. $257,400 b. $314,600 c. $320,000 d. $327,800Brannon Company expects sales of 700 units for the first quarter, 750 units for the second quarter, 800 units for the third quarter, and 900 units for the fourth quarter. If the sales price is $25 per unit, what is the expected sales for the year? A. $22,500 B. $17,500 C. $20,000 D. $78,750A Company has the following sales 2,000 in January, 2,200 in February, 2,800 in April and 3,000 in May. Assuming the selling prices is P100/unit. Sales for each month are expected to be collected as follows: • Month of sales: 20% A month after sales: 50% • 2 months after sales: 30% - How much is total receipts from sales? Units sold in March = Total units - (units sold in January+ units sold in feb + units sold in april + units sold in may) = 12500 (2000 + 2200 + 2800 +3000) =12500 units -9000 units = 2500 units Jan Feb Mar May 3,000 300,000 P1,250,000 60,000 ТОTAL Units Sold Sales in Pesos Collection from current months sales Apr 2,800 280,000 56,000 2,200 2,000 200.000 2,500 250,000 50,000 12, 500 220.000 40,000 44,000 P250,000 Collection from previous months sales 100,000 110,000 125,000 140,000 P475,000 Collection from two months 60,000 66,000 75,000 P201,000 sales Total Collections from Sales 40,000 144,000 220,000 247,000 275,000 P926,000 PRACTICE EXERCISE 1: Fill the table…
- Given: Month Total Sales/month November December January February March P1,500 8,000 6,000 7,200 8,600 Requirements: (Show solutions) 1. What is the growth rate per month? 2. What is the Average growth rate? 3. Forecast for the next 6-month the Total Sales, based on the above previous sales performance.A store sells a product that has the annual demand of 16,156 units. It purchases the product from supplier A for $74.4 per unit. The unit inventory carrying cost per year is 14 percent of the unit purchase cost. The cost to place and process an order from the supplier is $107 per order. Supplier A has a delivery lead time of 7 days. The store operates 300 days a year. Assume EOQ model is appropriate. What is the optimal total annual inventory and purchase cost for the store? Use at least 4 decimal places.GGG Company Assume that the firm is expecting to have the following quarterly unit sales with a price of P85: First Quarter Second Quarter 5,500 Third Quarter Fourth Quarter 5,000 6,000 6,500 50% of which are collected at the same month and the remaining 30% will be collected next quarter and the 20% on the next 2 quarters. Assume further that their ending inventory will be 25% of the next quarter's units and for the fourth quarter they had 1,300 units left. There is an accounts receivable recorded amounting to P350,000 GGG Company Sales Budget For the Year Ended December 31, 2022 Quarter 3 6,000 85 510,000 Total 23,000 85 1,955,000 2 Expected sales in units Unit Sales Price 5,000 85 425,000 Schedule of Expected Cash Collections 5,500 6,500 85 552,500 85 Total Sales 467,500 1 3 4 Total Accounts Reccivable P350,000 P350,000 First Quarter 1. Second Quarter Third Quarter Fourth Quarter 127,500 85,000 4. 5. 6. 7. 233,750 2. 93,500 3. 153,000 276,250 Total Cash Collection 8. P361,250 9.…