Question

WP Ch 22: Homework Assignment (6 x G All sales are on account. Collectic X + - X → C l earn.wileyplus.com/courses/29334/assignments/2849762?module_item_id=9595980 a $ 0 0 Question 10 Discussions WP --/1 Conferences View Policies Current Attempt in Progress Collaborations Account Wiley Accounting Weekly Updates Zeller Company estimates that 2020 sales will be $45,300 in quarter 1, $49,600 in quarter 2, and $66,500 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 20% of the next quarter's expected cost of goods sold. Dashboard e Textbook Prepare a merchandise purchases budget by quarter for the first 6 months of 2020. WileyPLUS Support ZELLER COMPANY Merchandise Purchases Budget Courses Calendar Quarter Six Months E. Inbox Get HELP SOS Total Required Units Direct Materials Per Unit Desired Ending Merchandise Inventory Desired Ending Finished Goods Inventory Required Merchandise Purchases Beginning Merchandise Inventory Budgeted Cost of Goods Sold Direct Materials Purchases Beginning Direct Materials e Textbook and Media Attempts: 0 of 6 used Save for Later Submit Answer < Prev Send to Gradebook e Type here to search ^ . D 9:23 PM 1) 10/27/20198

Answer 1

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к Six months $47,450.00 Merchandise Purchase Budget - Zeller Company Particulars Quarter 1 Quarter 2 Budgeted Cost of golds sold (50% of Sales) $22,650.00 $24,800.00 Add: Desired ending finished goods inventory (20% of COGS of next month) $4,960.00 $6,650.00 Total required units $27,610.00 $31,450.00 Less: Beginning merchandise inventory $4,530.00 $4,960.00 10 11 $6,650.00 $54,100.00 $4,530.00 12 13 14 Required Merchandise purchases $23,080.00 $26,490.00 $49.570.00 15 16 | 17 18 19 20 21 22 23 24 25 27 29 32 33 34 35 36 37 40 41 42 Sheet181 (29) Sheet251 Sheet216 ) Sheet178 Sheet