Homework Answers
A)
| FIRST | SECOND | THIRD | FOURTH | |
| CUMMINGS | 140000 | 140000(1+.05)=147000 | 147000(1+.05)= 154350 | 154350(1+.05)= 162067.5 (rounded to 162068) |
| SPRINGFIELD | 380000 | 380000(1+.03)= 391400 | 391400(1+.03)= 403142 | 403142(1+.03)= 415236 |
| DOUGLAS | 200000 | 200000(1+.07)= 214000 | 214000(1+.07)=228980 |
228980(1+.07)= 245009 |
B)
| FIRST | SECOND | THIRD | FOURTH | |
| Sales revenue [sum of all division sales ] | 140000+380000+200000= $ 720000 | 147000+391400+214000=752400 | 154350+403142+228980=786472 | 162068+415236+245009=822313 |
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Benson Corporation, which has three divisions, is preparing its sales budget. Each division expects a different...
Required A & Required B Check my wo Thornton Corporation, which has three divisions, is preparing...
Required A & Required B
Check my wo Thornton Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic condrtions vary in different regions of the country The growth expectations per quarter are 4 percent for Cummings Division, 2 percent for Springfield Division, and 6 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts b. Determine the amount of sales revenue that the company...
Part 1 Rundle Company, which expects to start operations on January 1, 2018, will sell digital...
Part 1 Rundle Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Rundle has budgeted sales as indicated in the following table. The company expects a 12 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required Complete the sales budget by filling in the missing amounts. Determine the amount of sales revenue Rundle will...
Fanning Company makes a product that sells for $33 per unit. The company pays $17 per...
Fanning Company makes a product that sells for $33 per unit. The company pays $17 per unit for the variable costs of the product and Incurs annual fixed costs of $140,800. Fanning expects to sell 21,900 units of product. Required Determine Fanning's margin of safety expressed as a percentage. (Round your answer to 2 decimal places (... 2345 should be entered as 23.45).) Margin of safety Finch Corporation, which has three divisions, is preparing its sales budget. Each division expects...
Exercise 14-2 Preparing a sales budget LO 14-2 Benson Company, which expects to start operations on...
Exercise 14-2 Preparing a sales budget LO 14-2
Benson Company, which expects to start operations on January 1,
2018, will sell digital cameras in shopping malls. Benson has
budgeted sales as indicated in the following table. The company
expects a 11 percent increase in sales per month for February and
March. The ratio of cash sales to sales on account will remain
stable from January through March.
Required
Complete the sales budget by filling in the missing
amounts.
Determine the...
Exercise 14-2 Preparing a sales budget LO 14-2 Benson Company, which expects to start operations on...
Exercise 14-2 Preparing a sales budget LO 14-2
Benson Company, which expects to start operations on January 1,
2018, will sell digital cameras in shopping malls. Benson has
budgeted sales as indicated in the following table. The company
expects a 11 percent increase in sales per month for February and
March. The ratio of cash sales to sales on account will remain
stable from January through March.
Required
Complete the sales budget by filling in the missing
amounts.
Determine the...
Exercise 14-2 Preparing a sales budget LO 14-2 Fanning Company, which expects to start operations on...
Exercise 14-2 Preparing a sales budget LO 14-2 Fanning Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Fanning has budgeted sales as indicated in the following table. The company expects a 13 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts b....
Benson Pointers Corporation expects to begin operations on January 1, year 1; it will operate as...
Benson Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Benson expects sales in January year 1 to total $260,000 and to increase 15 percent per month in February and March. All sales are on account. Benson expects to collect 69 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 9 percent in the...
Required a. Complete the sales budget by filling in the missing amounts b. Determine the amount...
Required a. Complete the sales budget by filling in the missing amounts b. Determine the amount of sales revenue Fanning will report on its first quarter pro forma income statement Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Round intermediate calculations and final answers to 2 decimal places. Sales Cash sales Sales on account Total budgeted sales January $ 39,000 104.000 $ 143,000...
Exercise 7-7A Preparing an inventory purchases budget LO 7-3 Benson Company sells lamps and other lighting...
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Zachary Company, which expects to start operations on January 1, 2018, will sell digital cameras in...
Zachary Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Zachary has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Zachary will...
Required A & Required B
Check my wo Thornton Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic condrtions vary in different regions of the country The growth expectations per quarter are 4 percent for Cummings Division, 2 percent for Springfield Division, and 6 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts b. Determine the amount of sales revenue that the company...
Fanning Company makes a product that sells for $33 per unit. The company pays $17 per unit for the variable costs of the product and Incurs annual fixed costs of $140,800. Fanning expects to sell 21,900 units of product. Required Determine Fanning's margin of safety expressed as a percentage. (Round your answer to 2 decimal places (... 2345 should be entered as 23.45).) Margin of safety Finch Corporation, which has three divisions, is preparing its sales budget. Each division expects...
Exercise 14-2 Preparing a sales budget LO 14-2
Benson Company, which expects to start operations on January 1,
2018, will sell digital cameras in shopping malls. Benson has
budgeted sales as indicated in the following table. The company
expects a 11 percent increase in sales per month for February and
March. The ratio of cash sales to sales on account will remain
stable from January through March.
Required
Complete the sales budget by filling in the missing
amounts.
Determine the...
Exercise 14-2 Preparing a sales budget LO 14-2
Benson Company, which expects to start operations on January 1,
2018, will sell digital cameras in shopping malls. Benson has
budgeted sales as indicated in the following table. The company
expects a 11 percent increase in sales per month for February and
March. The ratio of cash sales to sales on account will remain
stable from January through March.
Required
Complete the sales budget by filling in the missing
amounts.
Determine the...
Exercise 14-2 Preparing a sales budget LO 14-2 Fanning Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Fanning has budgeted sales as indicated in the following table. The company expects a 13 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts b....
Benson Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Benson expects sales in January year 1 to total $260,000 and to increase 15 percent per month in February and March. All sales are on account. Benson expects to collect 69 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 9 percent in the...
Required a. Complete the sales budget by filling in the missing amounts b. Determine the amount of sales revenue Fanning will report on its first quarter pro forma income statement Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Round intermediate calculations and final answers to 2 decimal places. Sales Cash sales Sales on account Total budgeted sales January $ 39,000 104.000 $ 143,000...
Exercise 7-7A Preparing an inventory purchases budget LO 7-3 Benson Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Benson's policy is to maintain an ending inventory balance equal to 10 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $84,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company...
Zachary Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Zachary has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Zachary will...
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