Wynn, Inc. manufactures beanies. The budgeted units to be produced and sold are below: August September Expected Production 3,500 2,800 Budgeted cost of purchases Expected Sales $ 2,900 It takes 18 yards of yarn to produce a beanie. The company's policy is to maintain yarn at the end of each month equal to 5% of next month's production needs and to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated production needs. The cost of yarn is $0.20 a yard. At August 1, 3,150 yards of yarn were on hand. Compute the budgeted cost of purchases. 3,900

Wynn, Inc. manufactures beanies. The budgeted units to be produced and sold are below: August September Expected Production 3,500 2,800 Budgeted cost of purchases Expected Sales $ 2,900 It takes 18 yards of yarn to produce a beanie. The company's policy is to maintain yarn at the end of each month equal to 5% of next month's production needs and to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated production needs. The cost of yarn is $0.20 a yard. At August 1, 3,150 yards of yarn were on hand. Compute the budgeted cost of purchases. 3,900

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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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
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Assignment 1 - Word 困 File Home Insert Design Layout References Mailings Review View O Tell me what you want to do... Byro Chandrshekar & Share X Cut O Find - A A Aa - 外 T AaBbCcDd AaBbCcDd AaE AaBbCcl AaBbCcD AaB Leelawadee l- 12 AaBbCcD AaBbCcDd AaBbCcDd AaBbCcDd AaBbCcDc e Copy Sac Replace Paste B V Format Painter I U - abc x, x A - aly - A 1 Normal 1 No Spac. Heading 1 Heading 2 Heading 3 Subtitle Subtle Em.. Emphasis Strong Title Intense E... A Select - Clipboard Font Paragraph Styles Editing The following information was extracted from the Books of Anderson for the year ended 30 Contra entries 6840 June 2021. Sales Ledger Balances at 01 July 2020 Sales Ledger Balances at 30 June 2021 30% of the sales were credit sales and 40% of the purchases were cash purchases. John Moore Bs 2 300 Debit Mini Cooper Bs 3000 Credit Required: Max Weldom Bs 1 200 Debit John Moore Bs 1500 Credit a) Prepare a Sales Ledger Control Account for the year ended 30 June 2021. Elena Bridge Bs 900 Debit b)…
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