The Snow Globe Emporium sells snow globes. The forecasted first quarter sales volume for the Emporium...
The Snow Globe Emporium sells snow globes. The forecasted first quarter sales volume for the Emporium is shown in the top row of the table. The Emporium buys the snow globes from a distributor for $5 and sells them for $8. All purchases are made on credit one month in advance of sales and are paid for the month following the purchase. What are the Snow Globe Emporium's payments in March?
Sales and Purchase Forecast
The Snow Globe Emporium
| January | February | March | April | |
| Sales Forecast (units) | 2,000 | 3,000 | 3,800 | 4,700 |
| Purchases from Suppliers ($) | ||||
| Payments to Suppliers | ||||
| Beginning Accounts payables | $15,000 | |||
| Ending Accounts Payables | $15 |
A. $15,000
B. $19,000
C. $30,400
D. $23,500
E. $24,000
Homework Answers
| Payment in March = Purchases of February = Purchase price per unit * Sales unit forecast of March = $5 * 3800 | $19,000 | Option B |
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