PRODUCTION BUDGET PRODUCTION BUDGET Flower Horn, Inc. reported the following information for 2015: Budgeted Sales Budgeted purchases April P 250,000 P 100,000 May P 350,000 P 150,000 June P 380,000 P 200,000 July P 400,000 P 250,000 The firm purchases and pays for merchandise 50% in the month of acquisition, 30% in the following month, and the succeeding balance on the second month following the month sale. The firm uses accounts payable for inventory acquisitions.

PRODUCTION BUDGET PRODUCTION BUDGET Flower Horn, Inc. reported the following information for 2015: Budgeted Sales Budgeted purchases April P 250,000 P 100,000 May P 350,000 P 150,000 June P 380,000 P 200,000 July P 400,000 P 250,000 The firm purchases and pays for merchandise 50% in the month of acquisition, 30% in the following month, and the succeeding balance on the second month following the month sale. The firm uses accounts payable for inventory acquisitions.

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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