Johnson Inc. produces leather handbags. Johnson Inc. estimates it will use 3,500 square meters of leather in production in Aug nd170meters of leather in production in September. Johnson Inc's leather inventory policy is 30% of next month's production needs Whe epurchases be in August?Multiple Choice3,425 square meters3,500 square meters3,575 square meters4,625 square meters 8.The basic form of the cash budget is:Multiple ChoiceBudgeted cash collections - Budgeted cash payments +- Cash borrowed or repeid-Erdng cnh teBeginning cash balance + Budgeted cash collections-Budgeted cash payments Csh berowed of n c vBeginning cash balance - Budgeted cash collections +Budgeted cash payments Cash torowed or ep wBeginning cash balance + Budgeted cash collections -Budgeted cash payments-Cash borwed orAir

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Seved Johnson Inc. produces leather handbags. Johnson Inc. estimates it will use 3,500 square meters of leather in poroduction in ugs meters of leather in production in September. Johnson Inc.'s leather inventory policy is 30% of next month's produce purchases be in August?

Seved Johnson Inc. produces leather handbags. Johnson Inc. estimates it will use 3,500 square meters of leather in poroduction in ugs meters of leather in production in September. Johnson Inc.'s leather inventory policy is 30% of next month's produce purchases be in August?

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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Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: 20,000 22,000 19,500 18,000 March April May June Wright maintains an ending inventory for each month in the amount of two and one-half times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $7 per unit and are paid for in the month after production. Labor cost is $11 per unit and is paid for in the month incurred. Fixed overhead is $19,000 per month. Dividends of $21,400 are to be paid in May. The firm produced 19,000 units in February. Complete a production schedule and a summary of cash payments for March, April, and May. Remember that production in any one month is equal to sales plus desired ending inventory minus beginning inventory. Note: Input all amounts as positive values except Beginning inventory values under Production Schedule which should be entered with a minus sign. Leave no cells blank…
The Porch Cushion Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows: Number of foam cushions to be produced in July Number of foam cushions to be produced in August Number of foam cushions to be produced in September Each cushion requires 2 pounds of the foam used as stuffing. The company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs. How many pounds of foam does The Porch Cushion Company need to purchase in August? OA. 20,800 OB. 15,400 13,000 11,000 9,000 OC. 27,400 OD. 28,600
E
Garza Electronics expects to sell 500 units in January, 250 units in February, and 1,000 units in March. January's beginning inventory is 700 units. Expected sales for the whole year are 7,200 units. Garza has decided on a level monthly production schedule of 600 units (7,200 units/12 months = 600 units per month). What is the expected end- of-month inventory for January, February, and March?
Jenny Inc. has the following projected costs for the second quarter of 20YY: Projected Costs Expenses April May June Selling and marketing expenses (i) $200,000 $250,000 $300,000 Office insurance expense (ii) 800 800 800 Office depreciation expense 500 500 500 Property tax expense (iii) 700 700 700 Jenny’s payment policy for selling and administrative expenses is as follows: Of the selling and marketing expenses, 50% is paid in the month they are incurred; the remaining 50% to be paid in the following month. The selling and admin expense payable at the end of March was $70,000, which represents 50% of March’s selling expenses. Insurance expense is $800 a month; however, the insurance is paid quarterly in the first month of each quarter, (i.e., in January, April, July, and October). Property taxes are paid once a year in December. The projected total selling and admin expenses for April are: Group of answer choices None of the above $172,400 $202,000 $204,400
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