Stuart Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate becauseeconomic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for CummingsDivision, 2 percent for Springfield Division, and 6 percent for Douglas Division.Requireda. Complete the sales budget by filling in the missing amounts.Determin Complete this question by entering your answers in the tabs below.Required A Required BComplete the sales budget by filling in the missing amounts.Note: Round your final answers to the nearest whole dollar amount.DivisionCummings DivisionSpringfield DivisionDouglas DivisionFirstQuarter$ 140,000390,000210,000SecondQuarterThirdQuarter& Required AFourthQuarterRequired B >

The budget is prepared to estimate the requirements for the period. The sales budget is prepared to…

Stuart Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for Cummings Division, 2 percent for Springfield Division, and 6 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts.

Stuart Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for Cummings Division, 2 percent for Springfield Division, and 6 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts.

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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Stuart Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for Cummings Division, 2 percent for Springfield Division, and 6 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. Note: Round your final answers to the nearest whole dollar amount. Division First Quarter Second Third Quarter Quarter Fourth Quarter Cummings Division $ 100,000 Springfield Division 400,000 Douglas Division 220,000
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It is budgeting time for Rod Co. The following assumptionswere agreed upon for the next year after strategic planning,which covered a five-year horizon: 1. Sales are estimated tobe at 70,000 units at its national selling price of P126. 2.Sales discounts are given to various customers at differentrates, and the net to gross ratio is at 93%. 3. Markup onmerchandise is at 45% of the invoice cost. Beginninginventory is P80,900 and is expected to be reduced byP15,000 at the end of the period. 4. Selling andadministrative expenses are expected to be 15% of grosssales. 5. Depreciation is computed at P500,000. 6. Seventy-five percent (75%) of sales are on credit. Doubtful accountsexpense is estimated to be 1.5% of credit sales. Required:What is the budgeted income statement for Rod Co.
Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month’s budget appear below: Selling price per unit $ 23 Variable expense per unit $ 13 Fixed expense per month $ 8,300 Unit sales per month 980 Required: 1. What is the company’s margin of safety? (Do not round intermediate calculations.) 2. What is the company’s margin of safety as a percentage of its sales? (Round your percentage answer to 2 decimal places (i.e. .1234 should be entered as 12.34).)
Executive officers of Adams Company are wrestling with their budget for the next year. The following are two different sales estimates provided by two difference sources. Source of Estimate First Quarter Second Quarter Third Quarter Fourth Quarter Sales manager $ 378,000 $ 316,000 $ 271,000 $ 480,000 Marketing consultant 512,000 469,000 403,000 648,000 Adams’s past experience indicates that cost of goods sold is about 60 percent of sales revenue. The company tries to maintain 15 percent of the next quarter’s expected cost of goods sold as the current quarter’s ending inventory. This year’s ending inventory is $30,000. Next year’s ending inventory is budgeted to be $31,000. Required Prepare an inventory purchases budget using the sales manager’s estimate. Prepare an inventory purchases budget using the marketing consultant’s estimate.
olander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month’s budget appear below: Selling price per unit $ 30 Variable expense per unit $ 13 Fixed expense per month $ 14,110 Unit sales per month 980 Required: 1. What is the company’s margin of safety? (Do not round intermediate calculations.) 2. What is the company’s margin of safety as a percentage of its sales? (Round your percentage answer to 2 decimal places (i.e. .1234 should be entered as 12.34).)
Executive officers of Munoz Company are wrestling with their budget for the next year. The following are two different sales estimates provided by two different sources. Source of Estimate Sales manager Marketing consultant First Quarter $ 388,000 517,000 Complete this question by entering your answers in the tabs below. Sales Munoz's past experience indicates that cost of goods sold is about 60 percent of sales revenue. The company tries to maintain 20 percent of the next quarter's expected cost of goods sold as the current quarter's ending Inventory. This year's ending Inventory is $35,000. Next year's ending Inventory is budgeted to be $36,000. Required a. Prepare an Inventory purchases budget using the sales manager's estimate. b. Prepare an Inventory purchases budget using the marketing consultant's estimate. Required A Required B Prepare an inventory purchases budget using the sales manager's estimate. Note: Round your final answers to nearest whole dollar amount. Total inventory…
Mars Company is in the period of budgeting for next year. The Sales manager forecasted the number of units to be sold as 5000 units and determined the selling price at 10 OMR per unit. The management revised these estimates with a 10% decrease in seling price and with a 20 % increase in the number of units sold. According to these revised estimates, which of the following is the revised Sales (OMR)? Select one: a. OMR 44000 b. OMR 54000 c. OMR 66000 G. OMR 50000
A company sells bags. Next month's budget is as follows: Selling Price = $50/bag Variable Expenses per unit- $25/bag Total Fixed Expenses for one month = $10,000/month Volume of Bag Sales = 1,000 bags Based on the company's budgeted sales, what is the company's Margin of Safety in dollars? Show all your work for full credit.
Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month's budget appear below: Selling price per unit Variable expense per unit Fixed expense per month Unit sales per month $ 29 $ 13 $ 14,080 1,030 Required: 1. What is the company's margin of safety? (Do not round intermediate calculations.) 2. What is the company's margin of safety as a percentage of its sales? (Round your percentage answer to 2 decimal places (i.e. 1234 should be entered as 12.34).) 1. Margin of safety (in dollars) 2. Margin of safety percentage %
2. Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales: Quarter 1 $4,780,000 Quarter 2 5,690,000 Quarter 3 630,000 Quarter 4 8,200,000 In Shalimar’s experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in the quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter after the sale. The remaining 3 percent are never collected. Total sales for the third quarter of the current year are $5,080,000 and for the fourth quarter of the current year are $7,220,000. Required: Question Content Area 1. Calculate cash sales and credit sales expected in the last two quarters of the current year, and in each quarter of next year. Quarter Cash Sales Credit Sales 3, current year $fill in the blank b0590a054f99004_1 $fill in the blank b0590a054f99004_2 4, current year fill in the blank…
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