Two articles A and Bare manufactured in a department. Sales for the year 2003 were planned as follows: Product 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units Units Units Units Product A 5,000 6,000 6,500 7,500 Product B 2,500 2,250 2,000 1,900 Selling price were OMR. 10 per unit for A and OMR. 20 per unit for B respectively. Average sales return are 10 % of sales and the discounts and bad debts amount to 2 % of the total sales. Prepare Sales Budget for the year 2003

Two articles A and Bare manufactured in a department. Sales for the year 2003 were planned as follows: Product 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units Units Units Units Product A 5,000 6,000 6,500 7,500 Product B 2,500 2,250 2,000 1,900 Selling price were OMR. 10 per unit for A and OMR. 20 per unit for B respectively. Average sales return are 10 % of sales and the discounts and bad debts amount to 2 % of the total sales. Prepare Sales Budget for the year 2003

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

REQUIRED Use the information provided below to answer each of the following questions independently: 2.1 Calculate the break-even quantity. (2 Marks) 2.2 Calculate the sales value required to achieve a net profit of R150 000, using the marginal income ratio. (4 Marks) 2.3 Determine the selling price per unit if a net profit of R624 600 is desired. (4 Marks) INFORMATION The following information was extracted from the budget of Mary's Manufacturers for the period July to December 2021: 1. Total production and sales 2 300 units 2. Selling price per unit R200 3. Variable manufacturing costs per unit: Direct materials R60 Direct labour R40 Overheads R20 4. Fixed manufacturing overheads R200 000 5. Other costs: Fixed marketing and administrative costs R100 000 Sales commission 10% of sales
A total of 50,000 units were sold last year. The contribution margin per unit was $4, and fixed expenses totaled $50,000 for the year. This year fixed expenses are expected to increase BY $20,000, but the contribution margin per unit will remain unchanged. How many units must be sold this year to earn the same profit as was earned last year? O 37,500 O 50,000 O 17,500 O 58,500 O 55,000
2. On the basis of French's revised information, what does next year look like: a. What is the break-even point? 1,035,688 units Sales at full capacity (units) Sales volume (units) Unit sales price ($) Sales revenue ($) Variable cost per unit ($) Contribution margin per unit ($) Total variable cost ($) Fixed costs ($) Profit ($) Ratios Variable cost to sales Unit Contribution to sales Utilization of capacity (%) Break even point (units) Aggregate 2,000,000 1,750,000 6.948 12,160,000 3.385 3.56 5,925,000 3,690,000 2,545,000 0.49 0.51 87.5 1,035,688.312 A 400,000 $10 4,000,000 7.5 2.5 3,000,000 960,000 40,000 0.75 0.25 20 384,000 Product Lines B 400,000 $9 3,600,000 3.75 5.25 1,500,000 1,560,000 540,000 0.42 0.58 20 297,143 C 950,000 $4.80 4,560,000 1.5 3.3 1,425,000 1,170,000 1965000 0.31 0.69 47.5 354,545
6. . At a furniture factory, the average selling price of a table is $18, the average variable expense per table is $ 9, and the average fixed expense per month is $ 12,000. On average 2, 000 tables are sold at each month. If sales increase by 20%, by how much should net operating income increase? A. $ 7,200 B. $ 10,000 C. $8,000 D. $3,160
Last year, Garrison Manufacturing sold 500 000 units at $4 each. Sales volume is expected to increase by 15% in the upcoming year, and sales price is expected to decrease by 5% in the upcoming year. The expected sales revenue for the upcoming year is: A. $2 255 000 B. $2 185 000 C. $2 645 000 D. $2 000 000
3.3 Calculate the new total Marginal Income and Net Profit/Loss, if an increase in advertising expenseby R100 000 is expected to increase sales by 400 units.3.4 How many units must be sold if the company wishes to earn a net profit of R298 920. Using the below information answer the above questions INFORMATIONSamcor Limited manufactures tables. The following information was extracted from the budget for the year ended 30June 2022:1. Total production and sales 2 400 units2. Selling price per table R1 2003. Variable manufacturing costs per table: Direct material R288 Direct labour R192 Overheads R964. Fixed manufacturing overheads R216 9605. Other costs: Fixed marketing and administrative costs R144 000 Sales commission 5%
J2.
Two products X and Z are manufactured in a department. Sales for the year 2022 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 X 8000 10000 11000 14000 Z 6000 8000 7500 5500 Selling prices in Quarter 1 were estimated as OMR 20 per unit for X and OMR 30 for Z respectively. Average sales return are 5% of Sales and 10% decrease in selling price in each quarter compared to previous one. According to these estimates, which of the following is estimated Sales (OMR) in Quarter 4 for Product X? Select one: a. 266000 b. 159600 c. 185600 d. 193914
3) A shoe retailer plans, for the period, net sales of $3,000,000 with a 20% profit and 25% operating expenses. The anticipated markdowns are 15%, along with sales discounts at 2% and shortages of 3%. Cash discounts to be earned are estimated at 5%, and alterations are 1% of net sales. What initial markup % is needed for this retailer's merchandise to achieve the desired profit goal?
Accounting Question
Milden Company is a merchandiser planning to sell 12,000 units next quarter at a selling price of $100 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of goods sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $35 per unit sold $210,000 per quarter 6% of sales $28,000 per quarter + $9.10 per unit sold $145,000 per quarter $9,000 per quarter $76,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter.
Subject: accounting