Homework Answers
Answer : $54,508
sales in June = (160000*1.02*1.03*1.05) = 181692
Cost of Goods Sold = 70% of sales = 181692*70% = 127,184.4
Gross Profit = Sales - Cost of Goods Sold = 181692-127184.4 = 54,508 (Answer)
Add Answer to:
2.6 points in April 3% in May, and 5% in June Cost of goods sold is...
Sander Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $5000 137000...
Sander Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $5000 137000 $14,000 $17.000 The expected gross profitrate is 10% and the inventory at the end of February was $13,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What are the total purchases budgeted for April? $11,520 $14,040 $11,880 $11,700
Croy Inc. has the following projected sales for the next five months: Month April May June...
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,400 3,905 4,630 4,190 3,980 Croy's finished goods inventory policy is to have 70 percent of the next month's sales on hand at the end of each month. Direct material costs $3.00 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
What is the budgeted gross profit for June?
Thomas Corporation recorded sales of $119,163 during March. Management expects sales to increase 5% in April, another 2% in May, and another 10% in June. cost of goods sold is expected to be 61% of sales. What is the budgeted gross profit for June?
Fosnight Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $6,000 $12.000...
Fosnight Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $6,000 $12.000 $10,000 $11,000 The expected gross profit rate is 20% and the inventory at the end of February was $8,000. Desired Inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired ending Inventory on May 31? O A $440 OB. $1,600 OC. $8,800 OD. $1.760
Croy Inc. has the following projected sales for the next five months: Month April May June...
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,480 3,945 4,510 4,190 3,970 Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month. Direct material costs $3.10 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month April May June...
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,590 3,845 4.580 4,125 3,910 Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month. Direct material costs $2.60 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month April May June...
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,450 3,915 4,560 4,105 3,920 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct material costs $3.40 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
April May June July $37,500 $34,000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a...
April May June July $37,500 $34,000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a beginning inventory balance of $1,800 on April 1 and a beginning balance in accounts payable of $7,400. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Humboldt makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the...
Croy Inc. has the following projected sales for the next five months Month April May June...
Croy Inc. has the following projected sales for the next five months Month April May June July August Sales in Units 3.490 3.900 4.600 4, 115 3.920 Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month. Direct material costs $2.90 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at...
Fosnight Enterprises prepared the following sales budget Budgeted Sales $5,000 $14,000 Month March April May $10,000...
Fosnight Enterprises prepared the following sales budget Budgeted Sales $5,000 $14,000 Month March April May $10,000 $14,000 June The expected gross profit rate is 20% and the inventory at the end of February was $12,000. Desired inventory levels at the end of the month are 20 % of the next month's cost of goods sold. What are the total purchases budgeted for April? OA. $10,560 O B. $11.840 O C. $2,240 O D. $13,440
Sander Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $5000 137000 $14,000 $17.000 The expected gross profitrate is 10% and the inventory at the end of February was $13,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What are the total purchases budgeted for April? $11,520 $14,040 $11,880 $11,700
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,400 3,905 4,630 4,190 3,980 Croy's finished goods inventory policy is to have 70 percent of the next month's sales on hand at the end of each month. Direct material costs $3.00 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
Fosnight Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $6,000 $12.000 $10,000 $11,000 The expected gross profit rate is 20% and the inventory at the end of February was $8,000. Desired Inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired ending Inventory on May 31? O A $440 OB. $1,600 OC. $8,800 OD. $1.760
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,480 3,945 4,510 4,190 3,970 Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month. Direct material costs $3.10 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,590 3,845 4.580 4,125 3,910 Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month. Direct material costs $2.60 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,450 3,915 4,560 4,105 3,920 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct material costs $3.40 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the...
April May June July $37,500 $34,000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a beginning inventory balance of $1,800 on April 1 and a beginning balance in accounts payable of $7,400. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Humboldt makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the...
Croy Inc. has the following projected sales for the next five months Month April May June July August Sales in Units 3.490 3.900 4.600 4, 115 3.920 Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month. Direct material costs $2.90 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at...
Fosnight Enterprises prepared the following sales budget Budgeted Sales $5,000 $14,000 Month March April May $10,000 $14,000 June The expected gross profit rate is 20% and the inventory at the end of February was $12,000. Desired inventory levels at the end of the month are 20 % of the next month's cost of goods sold. What are the total purchases budgeted for April? OA. $10,560 O B. $11.840 O C. $2,240 O D. $13,440
Most questions answered within 3 hours.
-
what is IoT? How is it being used today? How will it be used in
the...
asked 8 minutes ago -
Please answer the four questions below.
1. If you were going to test a method that...
asked 23 minutes ago -
Provide two or three examples of support he uses to reinforce
his arguments?
The Alienation of...
asked 30 minutes ago -
QUESTION 1
Why do we see terms with multiple names in the database
community?
Consistency is...
asked 25 minutes ago -
In a titration experiment, 11.5 mL of 0.400 M H2SO4 neutralized
48.0 mL of NaOH. What...
asked 30 minutes ago -
A shot-putter throws the shot with a horizontal velocity of 10
m/s and a
vertical velocity...
asked 45 minutes ago -
Mildred sells industrial-sized refrigeration units. Her
prospective buyer's face looks tense, and his forehead is wrinkled....
asked 47 minutes ago -
Clark Heter is an industrial engineer at Lyons Products. He
would like to determine whether there...
asked 1 hour ago -
3. Use a text editor to create a comma-delimited file of user
IDs and passwords. Revise...
asked 1 hour ago -
Jensen and Associates has a projected balance
sheet that includes the following accounts. What is the...
asked 1 hour ago -
implement a doubly-linked list in C. Each node in the linked list should contain a string,...
asked 1 hour ago -
What are some best practices and things to avoid when developing
a PowerPoint presentation or file
asked 1 hour ago