Homework Answers
| PURCHASING BUDGET: | |||||
| APRIL | MAY units | JUNE units | JULY | TOTAL | |
| ESTI SALES | 200 | 860 | 700 | 740 | |
| ADD:ESTI ENDING | 800 | 700 | 740 | 0 | |
| TOTAL MERCHANDISE NEEDS | 1000 | 1560 | 1440 | 740 | |
| LESS:BEGIN INVEN | 0 | 800 | 700 | 740 | |
| MERCHANDISE TO BE PURCHASED | 1000 | 760 | 740 | 0 | |
| PUR VALUE (in dollar) | 29000 | 22040 | 21460 | 72500 | |
| DISBURSEMENT BUDGET: | |||||
| APRIL | MAY | JUNE | JULY | TOTAL | |
| APRIL PUR (DELIVERY) | 11600 | ||||
| APRIL PUR (SALES) | 3480 | 13920 | |||
| MAY PUR (DELIVERY) | 8816 | ||||
| MAY PUR (SALES) | 1044 | 12180 | |||
| JUNE PUR (DELIVERY) | 8584 | ||||
| JUNE PUR (SALES) | 12876 | ||||
| TOTAL PAYMENTS | 15080 | 23780 | 20764 | 12876 | 72500 |
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Learning Objective: Estimate Purchases and Disbursements Kealy's Vintage Books purchases vintage books a month in advance of planned sales. Vintage books are purchased from wholesalers for $29 each (on average), using financing to pay 40% of the purchase in the month of delivery and the remaining 60% in the month of the sale. Kealy purchased 1,000 books in April and has 800 books in stock at the end of the month. Estimated sales for May are 860 books, June are...
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We were unable to transcribe this image4% of sales Variable: Sales commissions Fixed: Advertising Rent Salaries Utilities Insurance Depreciation $ 320,000 $ 30,000 $ 130,000 $ 13,000 $ 4,200 $ 26,000 Insurance is paid on an annual basis, in November of each year. The company plans to purchase $22,000 in new equipment during May and $52,000 in new equipment during June; both purchases will be for cash. The company declares dividends of $24,000 each quarter, payable in the first month...
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managerial cost accounting, please help .. thank you
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: April May June July $ 620,000 $ 810,000...
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: April May June July $ 670,000 $ 840,000 $ 550,000 $ 450,000 469,000 588,000 385,000 315,000...
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