Solution
Second Quarter of 2020 | Third Quarter of 2020 | |
Expected Sales in units | 32125 | 29375 |
Expected sales in dollar | $ 173,475.00 | $ 158,625.00 |
Working
Quarter 2 | Quarter 3 | ||
A | Sales units in 2019 | 25700 | 23500 |
B=A x 125% | Expected Sales in units | 32125 | 29375 |
C | Sales price | $ 5.40 | $ 5.40 |
D=C x B | Expected sales in dollar | $ 173,475.00 | $ 158,625.00 |
Brief Exercise 10-14 (LO 10-4) Kraft Bakeries introduced in 2019 a new line of frozen apple...
The George Company has a policy of maintaining an end-of-month cash balance of at least $33,000. In months where a shortfall is expected, the company can draw in $1,000 Increments on a line of credit it has with a local bank, at an Interest rate of 12% per annum. All borrowings are assumed for budgeting purposes to occur at the beginning of the month, while all loan repayments (In $1,000 Increments of principal) are assumed to occur at the end...
Easy Clean operates a chain of dry cleaners. It is experimenting with the use of a continuous Improvement (1.e., kalzen) budget for operating expenses. Currently, a typical location has operating expenses of $22,000 per month. Plans are in place to achieve labor and utility savings. The associated operational changes are estimated to reduce monthly operating expenses by a factor of 0.99 beginning in January What is the estimated operating expenses for January? For June? For December? (Do not round Intermediate...
10 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 65,000 437, 760 90, 200 308,828 900,988 630, eee...
Our controller, Richard Kimmel is negotiating with potential new Clay suppliers in Kentucky. We need the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019 for our corporate strategic planning process, and we cannot wait for Richard’s return from Kentucky. We would like you to prepare the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019. The deliverables are as follows: 8. Cash budget. 9. Budgeted income statement for the year ending...
CASE 1-5 Financial Statement Ratio Computation Refer to Campbell Soup Company's financial Campbell Soup statements in Appendix A. Required: Compute the following ratios for Year 11. Liquidity ratios: Asset utilization ratios:* a. Current ratio n. Cash turnover b. Acid-test ratio 0. Accounts receivable turnover c. Days to sell inventory p. Inventory turnover d. Collection period 4. Working capital turnover Capital structure and solvency ratios: 1. Fixed assets turnover e. Total debt to total equity s. Total assets turnover f. Long-term...