View PoliciesCurrent Attempt in ProgressAt the beginning of the year, Ivanhoe had beginning inventory of 1720 scooters. Ivanhoe estimates it will sell 4300 units during thefirst quarter of the current year, with a 10% increase in sales each quarter. It is Ivanhoe's policy to maintain an ending inventory equalto 20% of the next quarter's budgeted sales. Each scooter costs $86 to produce and sold for $129. How much is the budgeted salesrevenue for the third quarter of the current year?O $447458.O $610170.O $369800.O $671187.

The Sales budget is used to estimate the units to be sold by a business entity in a particular time…

Answered: View Policies Current Attempt in…

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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Cypress Inc. has the following budgeted sales for the next quarter.Month: 1 2 3Units: 10,000 11,000 12,000Inventory of finished goods on hand at the beginning of the quarter is 7,000 units. The company desires to maintain ending inventory equal to beginning inventory plus 5,000 units every month.Calculate the total quantity to be produced during the quarter.
2019 Sales Cost of Goods Sold Rent Wages Insurance Utilities Auto Maintenance Advertising Other Expenses Total Expenses Net Income Jan 3,250 1,788 525 175 46 220 40 98 2,891 359 Feb 2,700 1,485 525 175 46 225 40 81 2,577 123 Mar 3,855 2,120 525 175 46 285 80 60 116 3,407 448 Tom's Business Income Statement 98 2,900 354 2019 May Jul Aug Sep Oct Nov Dec Total Apr 3,254 3,650 2,850 2,600 2010 2,200 2,250 3,755 4,890 37,264 1,790 2,008 1,106 1,210 1,238 2,065 2,690 20,495 525 525 525 525 525 525 6,300 2,100 175 175 175 175 175 175 46 46 46 46 46 46 550 227 265 210 185 220 230 2,657 40 40 40 80 640 60 147 525 175 46 200 40 110 Jun 588 * º * * * 88 * § 547 1,568 525 175 46 185 80 60 86 3,103 2,724 126 1,430 525 175 46 205 40 78 2,499 101 40 60 2217 (207) 80 60 66 2,372 (172) 68 2,276 (26) 113 3,184 3,952 571 938 240 1,118 34,100 3,164
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Sanjay
Kramer Enterprises reports year-end information from 2022 as follows: Sales (160,000 units) $960,000 Cost of goods sold 640,000 Gross margin 320,000 Operating expenses 260,000 Operating income $60,000 Kramer is developing the 2023 budget. In 2023 the company would like to increase selling prices by 8%, and as a result expects a decrease in sales volume of 10%. All other operating expenses are expected to remain constant. What is budgeted sales for 2023? A) $1,036,800 B) $1,066,666 C) $933,120 D) $864,000
Navigator sells GPS trackers for $41 each. It expects sales of 4,900 units in quarter 1 and a 5% increase each subsequent quarter for the next 8 quarters. Prepare a sales budget by quarter for the first year. Round final answers to nearest whole dollar. Navigator Sales Budget For the Year Ending Dec. 31, 20XX Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Expected Sales (Units) Sales Price per Unit Total Sales Revenue $
on 4 obinson Corp., which operates on a calendar year, expects to sell 1380 units in October, and expects sales to increase 130 units each month thereafter. Sales price expected to stay constant at $7 per unit. What are budgeted sales revenue for the fourth quarter? << < Question 4 of 5
Data Trevor Cycles manufactures chainless bicycles. On March 31, Trevor Cycles had 206 bikes in inventory. The company has a policy that the ending inventory in any month must be 20% of the following month's expected sales. Trevor Cycles expects to sell the following number of bikes in each of next four months: View the data. Prepare a production budget for the second quarter, with a column for each month and for the quarter. Trevor Cycles Production Budget For the Months of April through June April.. 1,030 bikes April May June Quarter May 1,170 bikes les 1030 1170 1390 1270 206 234 278 254 June.. 1,390 bikes esired ending inventory July 1,270 bikes eeded 1236 1404 1668 4308 206 206 234 646 Beginning inventory 1030 1198 1434 3662 o produce Print Done
Sunland Company estimates its sales at 180000 units in the first quarter and that sales will increase by 17000 units each quarter over the year. They have, and desire, a 25% ending inventory of finished goods. Each unit sells for $25. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at O $5273500. O $3026500. O $4387000. O $6057389.
Dhapa
Austen Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: Austen anticipates selling 222,000 jars with total sales revenue of $267,000 in the first quarter of the year following the year given in the preceding table. Austen has a policy that the ending inventory of jars must be 30% of the following quarter's sales. Total sales Number of jars revenue sold Requirement Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in 1st quarter.... $ 185,000 152,500 total. 2nd quarter $ 211,000 180,500 3rd quarter 2$ 257,000 210,000 4th quarter $ 193,000 160,000 ..... Prepare the production budget by first calculating the total units needed, then calculate the units to produce. Austen Foods Production Budget For the Quarters in the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Unit sales Plus: Desired ending inventory Total needed Less:…
At January 1, 2022, Oriole Company has beginning inventory of 3000 surfboards. Oriole estimates it will sell 11000 units during the first quarter of 2022 with a 10% increase in sales each for the following quarters. Oriole's policy is to maintain an ending finished goods inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $155. What is the budgeted sales revenue for the third quarter of 2022 $2247500 $2063050 $13310 5542500

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