Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Question
Chapter 22, Problem 6R
To determine
Prepare the chart and determine the estimated sales volume in percentage.
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Assume that you have a company. And the management team estimates that 3% of sales will be uncollectible.
Give any amount of sales and prepare the journal entry using the percent of sales method.
I need help with questions 9 given for Excel.
The monthly sales for Yazici Batteries, Inc., were as follows:
Month
Jan
Feb
Mar
Apr May Jun
Jul
Aug
Sept
Oct
Nov
Dec
Sales
20
21
17
12
15
15
15
19
22
22
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24
This exercise contains only parts b and c.
b) The forecast for the next month (Jan) using the naive method =
sales (round your response to a whole number).
The forecast for the next period (Jan) using a 3-month moving average approach = sales (round your response to two decimal places).
The forecast for the next period (Jan) using a 6-month weighted average with weights of 0.10, 0.10, 0.10, 0.20, 0.20, and 0.30, where the heaviest weights are applied
the most recent month =
sales (round your response to one decimal place).
Using exponential smoothing with a = 0.35 and a September forecast of 18.00, the forecast for the next period (Jan) = sales (round your response to two decimal
places).
Using a method of trend projection, the forecast for the next month (Jan) =
sales (round your response to two decimal places).
c) The method…
Chapter 22 Solutions
Excel Applications for Accounting Principles
Ch. 22 - Ranger Industries has provided the following...Ch. 22 - Open the file MASTER from the website for this...Ch. 22 - Review the completed master budget and answer the...Ch. 22 - Suppose the company has to revise its estimates...Ch. 22 - Suppose the company has just the opposite news and...Ch. 22 - Prob. 6R
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Similar questions
- (b) Develop three-month and four-month moving averages for this time series. If required, round your answers to two decimal places. Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits.arrow_forwardUsing the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.arrow_forwardThe quarterly sales data (number of copies sold) for a college textbook over the past three years are as follows: a. Construct a time series plot. What type of pattern exists in the data? b. Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data: Qtr1 = l if quarter l, 0 otherwise; Qtr2 = l if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise. c. Based on the model you developed in part (b), compute the quarterly forecasts for next year. d. Let t = 1 to refer to the observation in quarter 1 of year 1; t = 2 to refer to the observation in quarter 2 of year 1; ; and t = 12 to refer to the observation in quarter 4 of year 3. Using the dummy variables defined in part (b) and t, develop an equation to account for seasonal effects and any linear trend in the time series. e. Based upon the seasonal effects in the data and linear trend, compute the quarterly forecasts for next year. f. Is the model you developed in part (b) or the model you developed in part (d) more effective? Justify your answer.arrow_forward
- Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?arrow_forwardRefer to Cornerstone Exercise 3.4 for data on Dohini Manufacturing Companys purchasing cost and number of purchase orders. The controller for Dohini Manufacturing ran regression on the data, and the coefficients shown by the regression program are: Required: 1. Construct the cost formula for the purchasing activity showing the fixed cost and the variable rate. 2. If Dohini Manufacturing Company estimates that next month will have 430 purchase orders, what is the total estimated purchasing cost for that month? (Round your answer to the nearest dollar.) 3. What if Dohini Manufacturing wants to estimate purchasing cost for the coming year and expects 5,340 purchase orders? What will estimated total purchasing cost be? (Round your answer to the nearest dollar.) What is the total fixed purchasing cost? Why doesnt it equal the fixed cost calculated in Requirement 1?arrow_forwardFitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?arrow_forward
- Calculate the returns percentage for the Missy top department for Fall if gross sales are $5,750,000 and the return dollars are $3,160,000. Write answer to two decimal places with the % symbol, example 6.23%arrow_forwardGiven: Month Total Sales/month November December January February March P1,500 8,000 6,000 7,200 8,600 Requirements: (Show solutions) 1. What is the growth rate per month? 2. What is the Average growth rate? 3. Forecast for the next 6-month the Total Sales, based on the above previous sales performance.arrow_forwardPlease don't give image formatarrow_forward
- Sales Forecast using Weighted Moving Average 1. Given the following, determine the expected sales on September 18th and September 19th, using a 3-day weighted moving average. 2. Is your weighted moving average result higher or lower than if you had simply done a 3-day moving average? What caused it to be higher or lower? MONTH DATE ACTUAL SALES IN DOLLARS W1 = 10 W2 = 25 W3 = 30 SEPTEMBER 12 13 14 15 16 17 18 19 $1,500 $2,500 $2.500 $3,500 $3.000 $4,500arrow_forwardplease answer within 30 minutes.arrow_forward1. If last year's sales were $906,050 and a store was planning an increase in sales of 3.75% and a markdown percent of 18.25%, what is the planned markdown in dollars? (Present your answer rounded to the dollar with a dollar sign and comma separator (i.e. $109,455).) 2. Using the following data, calculate the planned April purchases at cost. (Present your answer rounded to the dollar with a dollar sign and comma separator (i.e. $109,455).) Sales $220,000 BOM Stock for April $380,000 BOM Stock for May $240,000 Markup 51% Markdowns 2.3%arrow_forward
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