Walker Company prepares monthly budgets. Company policy is to end each month with merchandise inventory equal to 20% of budgeted unit sales for the following month. Budgeted sales and merchandise purchases for the next three months follow. Beginning inventory on July 1 is 42,000 units. The company budgets sales of 200,000 units in October. The merchandise cost per unit is $3. Budgeted sales units Units to purchase July 210,000 230,000 August 310,000 304,000 September 280,000 264,000 Prepare the merchandise purchases budgets for the months of July, August, and September. Next period budgeted sales units Ratio of inventory to future sales Total required units Units to purchase Cost per unit Cost of merchandise purchases WALKER COMPANY Merchandise Purchases Budget July August September

Walker Company prepares monthly budgets. Company policy is to end each month with merchandise inventory equal to 20% of budgeted unit sales for the following month. Budgeted sales and merchandise purchases for the next three months follow. Beginning inventory on July 1 is 42,000 units. The company budgets sales of 200,000 units in October. The merchandise cost per unit is $3. Budgeted sales units Units to purchase July 210,000 230,000 August 310,000 304,000 September 280,000 264,000 Prepare the merchandise purchases budgets for the months of July, August, and September. Next period budgeted sales units Ratio of inventory to future sales Total required units Units to purchase Cost per unit Cost of merchandise purchases WALKER COMPANY Merchandise Purchases Budget July August September

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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