Homework Answers
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20. Units to be produced in July = Budgeted sales + Desired ending inventory - Beginning inventory = 57,000 + (55,000*20%) - (57,000*20%) = 56,600 Option B |
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21. Budgeted collection for June = (67,000*25%)+(77,000*55%)+(57,000*20%) = 70,500 Option D |
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Houseman, Inc. anticipates sales of 57,000 units, 55,000 units, and 58,000 units in July, August, and...
June sales were $28,000, while projected sales for July and August were $55,000 and $68,000, respectively....
June sales were $28,000, while projected sales for July and August were $55,000 and $68,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $11,200 OB. $38,800 OC. $33,000 O D. $44,200
Kingston anticipates total sales for June and July of $380,000 and $338,000, respectively. Cash sales are...
Kingston anticipates total sales for June and July of $380,000 and $338,000, respectively. Cash sales are normally 65% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. As of July 31 Sales...
Kingston anticipates total sales for June and July of $340,000 and $378,000, respectively. Cash sales are...
Kingston anticipates total sales for June and July of $340,000 and $378,000, respectively. Cash sales are normally 60% of total sales. Of the credit sales, 25% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 10% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company’s budgeted balance sheet as of July 31.
ABC Company’s budgeted sales for June, July, and August are 12,400, 16,400, and 14,400 units respectively....
ABC Company’s budgeted sales for June, July, and August are 12,400, 16,400, and 14,400 units respectively. The selling price for each unit is $15. Based on past experience, ABC expects that 30% of a month’s sales will be collected in the month of sale, 60% in the following month, and 8% in the second month following the sale. Required: Prepare an analysis of cash receipts from sales for ABC Company for August.
Memphis Company anticipates total sales for April, May, and June of $970,000, $1,070,000, and $1,120,000 respectively....
Memphis Company anticipates total sales for April, May, and June of $970,000, $1,070,000, and $1,120,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 40% are collected in the same month as the sale, 55% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales during the month of May. Multiple Choice $730,400. $829,200. $983,200. $769,200. $1,053,200.
Kingston anticipates total sales for June and July of $340,000 and $368,000, respectively, Cash sales are normally...
Kingston anticipates total sales for June and July of $340,000 and $368,000, respectively, Cash sales are normally 65% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. As of July 31 8...
Kingston anticipates total sales for June and July of $350,000 and $408,000, respectively. Cash sales are normally 60% o...
Kingston anticipates total sales for June and July of $350,000 and $408,000, respectively. Cash sales are normally 60% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company’s budgeted balance sheet as of July 31.
Kingston anticipates total sales for June and July of $440,000 and $468,000, respectively. Cash sales are normally 70% o...
Kingston anticipates total sales for June and July of $440,000 and $468,000, respectively. Cash sales are normally 70% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company’s budgeted balance sheet as of July 31.
Help Kingston anticipates total sales for June and July of $460,000 and $328,000, respectively. Cash sales...
Help Kingston anticipates total sales for June and July of $460,000 and $328,000, respectively. Cash sales are normally 60% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 20% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31 As of July 31...
Watt's Lighting stores made the following sales projection: Watt's Lighting Stores made the following sales projection...
Watt's Lighting stores made the following sales
projection:
Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March April May 47,000 55,000 57,000 $43,000 June 49,000 July 38,000 August Sales in January and February were $46,000 and $45,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 35 percent are collected in the month of sale, 45 percent are collected in the following month, and 10 percent are...
June sales were $28,000, while projected sales for July and August were $55,000 and $68,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $11,200 OB. $38,800 OC. $33,000 O D. $44,200
Kingston anticipates total sales for June and July of $380,000 and $338,000, respectively. Cash sales are normally 65% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. As of July 31 Sales...
Kingston anticipates total sales for June and July of $340,000 and $368,000, respectively, Cash sales are normally 65% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. As of July 31 8...
Help Kingston anticipates total sales for June and July of $460,000 and $328,000, respectively. Cash sales are normally 60% of total sales. Of the credit sales, 20% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 20% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31 As of July 31...
Watt's Lighting stores made the following sales
projection:
Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March April May 47,000 55,000 57,000 $43,000 June 49,000 July 38,000 August Sales in January and February were $46,000 and $45,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 35 percent are collected in the month of sale, 45 percent are collected in the following month, and 10 percent are...
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