Question 5View PoliciesCurrent Attempt in ProgressBraker Manufacturing has a target of carrying closing monthly inventory equal to fifteen percent of next month'sprojected sales. If the current month's beginning inventory is 8,000 units and it expects to sell 50,000 units this monthand 45,000 units next month, how many units should it produce this month?t47,500 unitsO 48,750 unitsO 45,000 unitsO 50,000 unitshp2fo12insprt sc44deletehome&79backspacelockhomeKLenterNpauset shiftaltctriΣI

A Budget statement is a proper articulation of assessed income and costs dependent on tentative…

Answered: Question 5 View Policies Current…

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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esc QUESTION 33 Leaning Tower of Pizza, Inc. is preparing its master budget for its first year of business. It expects to sell 5,000 pizzas at $11 per pizza per month. It expects to collect 90% of the sales revenue in the month of the sale and 10% in the following month. Calculate its accounts receivable balance at the end of its first year. Click Save and Submit to save and submit. Click Save All Answers to save all answers. 2 A ! 1 Q A J2₂² N 2 W S #3 X E D $ 4 R с 07 dº % 5 F MacBook Pro T 6 V G & Y 7 H B * 00 8 U J N 6
Problem 5-2 Rancho, Inc. forecasts the following sales for the second quarter of 2020, as well as actual March sales: March (actual) April May June 2nd Q. Total $3,000 $4,000 $5,000 $6,000 $15,000 In addition: The company makes 60% cash sales and 40% credit sales. It collects all credit sales in the month after the sale. The firm budgets $4,400 for monthly operating expenses. That amount includes $400 for depreciation. The firm pays all of its cash-based expenses in the month incurred. Rancho, Inc. had $100 of cash at March 31, 2020, and it must maintain a minimum $500 cash balance at the end of every month to ensure liquidity. The company has a line of credit with its bank that allows borrowing in $100 increments at 12% interest. All borrowing takes place at the beginning of the month in which the company requires cash. The company must repay principal in hundred dollar increments. The credit facility requires Rancho, Inc. to repay all accrued interest to date whenever…
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QUESTION 2 Answer the questions from the information provided. 2.1 Use the information provided below to calculate the number of units of Product Tex that must be produced for July and August. INFORMATION 2.2 2.3 The estimated sales volume of Product Tex is 25 000 units for June, 21 000 units for July, 30 000 units for August and 36 000 units for September. The policy of management is to maintain an ending finished goods inventory each month equal to 20% of the current month's budgeted sales and 30% of the following month's budgeted sales. Study the information provided below and calculate the expected value of closing inventory as at 31 December 2022, if the FIFO method of inventory valuation is used. INFORMATION The following information was supplied by Sunbeam Manufacturers for 2022 in respect of its finished goods: Inventory on 01 January Cost of production of finished goods manufactured Cost of goods sold Sales value of the goods sold Use the information provided below to…
& EXIT Submit Questions #1 Down Under Products, Ltd., of Australia, has budgeted sales of its popular boomerang for the next four months as follows: Sales in Units 50,000 April May 75,000 June 90,000 July 80,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month's sales. The inventory at the end of March was 5,000 units. (Australia's currency is the Australian dollar.) Required: Prepare a production budget for the second quarter; in your budget, show the number of units to be produced each month and for the quarter in total. DOWN UNDER PRODUCTS, LTD. Production Budget April May June Quarter Total needs
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QUESTION 9 Garfield Corp. expects to sell 1040 units of its pet beds in March and 1960 units in April. Each unit sells for $78. Garfield's ending inventory policy is 20 percent of the following month's sales. Garfield pays its supplier $22 per unit. What is Garfield's budgeted purchases for March? AZ
137 Exercise 4-24 The Sonia Company has two product lines, high-speed printers and electronic typewriters. The company's market rescarch department prepared the following sales forecast for the coming year, 2021. High-speed Printers Electronic Typewriters 170,000 40,000 Industry's total sales forecast Company's share in the market Sales price per unit 10% 25% P3,000 P5,000 The sales force submitted the following estimates: High-speed Printers 2,400 6,000 3,600 12,000 Electronic Typewriters Luzon 3,600 Visayas Mindanao 8,400 3,000 15,000 Total To establish an acceptable forecast, the budget director averages the two estimates. The resulting forecast is then broken down by territories in the same ratio as reflected in the estimates of the sales forecast. REQUIRED: 1. Prepare a sales budget by sales territory and by product lines for the year 2021. Use the following format: Sonia Company Sales Budget For the Year Ending Dec. 31, 2021 Electronic Typewriters High-speed Printers Units Amount…
esc QUESTION 36 Pasta Disasta, Inc. is preparing its master budget for its first quarter of business. It expects to sell 8,000 pizzas per month. It will purchase enough pizzas so that 100 pizzas are in inventory at all times by purchasing 8,100 pizzas in the first month and 8,000 pizzas in the second and third months. The pizza is expected to cost $5 per pizza. It expects to pay 70% in the month of purchase and the remainder in the following month. Calculate the amount of cash paid for inventory for its first quarter. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Q A I N 2 W S #3 X E H $ 4 D. R C 07 dº % 5 F MacBook Pro D T ^ 6 V G of Y 7 H B * 00 8 U J N 9 Save к O O M
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