Homework Answers
- The formula for calculating OTB is, planned sales + EOM stock - BOM stock.
- Therefore OTB for the November comes to, 26780 + 136000 - 95000 = 67780.
- Purchases made and yet to be received stock doesn't have anything to do with OTB.
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3. On November 1 the BOM stock is $95,000, and the EOM is $136,000. The purchases...
4. September BOM September EOM September sales September markdowns September 1-9 purchases received September outstanding orders...
4. September BOM September EOM September sales September markdowns September 1-9 purchases received September outstanding orders Determine the September OTB. $360,000 $440,000 $148,000 $ 23,500 $ 42,000 $106,000 (Hint: Remember how you calculated planned purchases on the six-month plan. Begin there and then finish the problem by determining the OTB.)
A women’s shoe department reported the following plans for November: Planned Sales.. $72,000 Planned BOM.. $89,000...
A women’s shoe department reported the following plans for November: Planned Sales.. $72,000 Planned BOM.. $89,000 Planned Reductions.. $4,000 Planned EOM.. $68,000 Stock on Order (@ Cost).. $13,500 IMU%.. 45% Calculate the buyer’s open to buy (OTB) at cost.
1. In August the BOM stock is $32,500. Planned sales are $18.600 During the first week,...
1. In August the BOM stock is $32,500. Planned sales are $18.600 During the first week, $6,200 worth of merchandise comes in, and the planned stock for September is $21,000. What is the OTB for August? Planned sales for April are $100,000. The BOM stock is planned at $185,000. Orders placed for April come to $72,000. The May BOM is $215,000. What is the April OTB?
6. An open-to-buy report was prepared on August 5 for a linen de partment. The following...
6. An open-to-buy report was prepared on August 5 for a linen de partment. The following information was provided: August BOM $316,000 August EOM $325,000 August sales $152,000 August markdowns $ 31,450 August 1-5 purchases received $ 46,000 August outstanding orders $187,000 Determine August OTB. The amount of merchandise on order indicates that the buyer will be over the planned BOM stock plan for September 1. What are some steps a buyer can take to resolve this situation and still...
9. Chrissy's Campus started August 1 at $65,000. This amount was $8,000 over the planned BOM...
9. Chrissy's Campus started August 1 at $65,000. This amount was $8,000 over the planned BOM stock figure. When the merchandise manager reviewed the purchase journal, he told the buyer to cancel orders to avoid being overbought. Look at the following figures and determine how much Chrissy's Campus would be overbought if the buyer does not cancel any orders. Planned BOM $57,000 Actual BOM $65,000 Planned sales $32,000 Planned markdowns $ 6,500 Planned EOM $48,000 Purchases on order $31,500 Would...
T12-3 (similar to) 21. EOM Consulting Services had the following transactions for the month of November....
T12-3 (similar to) 21. EOM Consulting Services had the following transactions for the month of November. Journalize the transactions and include an explanation with each entry (Record de of the journal entry table.) (Click the icon to view the transactions.) Nov. 1: The business received $15,000 cash and gave capital to Ella Milton, the owner. Date Date Accounts and Explanation Debit Credit Nov. 1 15,000 Cash Milton, Capital 15,000 Owner contribution Owner withdrawal Pald advertising expense. Paid cash on account...
Given the six-month merchandise budget below, answer questions #1-4. When completing the budget, do not round...
Given the six-month merchandise budget below, answer questions #1-4. When completing the budget, do not round to the nearest whole dollar (in other words, do not drop the cents) 3. What is the “Total $ Planned Purchases at Retail” figure? Last Year’s Total Sales = $100,000 Planned % Sales Increase = 5% Planned % Reductions = 14% Planned EOM for Period = $25,000 Planned IMU% for Period = 53% Six-Month Merchandise Budget Spring/Summer February March April May June July Totals...
Question 4 Agapanthus Berhad projected sales and purchases for the month of October to December 2018...
Question 4 Agapanthus Berhad projected sales and purchases for the month of October to December 2018 as below: Sales (RM 17,000 22,000 18,000 14,000 2018 Purchases (RM 12,000 14,000 13,000 14,000 tember October November December Wages of RM1,500 are paid in the month that they are incurred. Overhead expenses of RM1,200 are due each month and these are paid one month in arrears. On 1 November 2018, the company plan to buy a second-hand van for RM8,000 Sales are all...
please show calulations 3. The children's department had the following figures for October: Planned sales $500,000...
please show calulations
3. The children's department had the following figures for October: Planned sales $500,000 Planned reductions $5,000 Planned stock, October 1 $850,000 Planned stock, November 1 $630,000 Outstanding orders Planned markup $200,000 51.8% (a) Determine the planned October purchases at retail for the children's department (b) What is the October OTB at cost?
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany...
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany adopted a stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10 par value common stock. The options were granted on January 2, 2021, and were exer- cisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was...
4. September BOM September EOM September sales September markdowns September 1-9 purchases received September outstanding orders Determine the September OTB. $360,000 $440,000 $148,000 $ 23,500 $ 42,000 $106,000 (Hint: Remember how you calculated planned purchases on the six-month plan. Begin there and then finish the problem by determining the OTB.)
1. In August the BOM stock is $32,500. Planned sales are $18.600 During the first week, $6,200 worth of merchandise comes in, and the planned stock for September is $21,000. What is the OTB for August? Planned sales for April are $100,000. The BOM stock is planned at $185,000. Orders placed for April come to $72,000. The May BOM is $215,000. What is the April OTB?
6. An open-to-buy report was prepared on August 5 for a linen de partment. The following information was provided: August BOM $316,000 August EOM $325,000 August sales $152,000 August markdowns $ 31,450 August 1-5 purchases received $ 46,000 August outstanding orders $187,000 Determine August OTB. The amount of merchandise on order indicates that the buyer will be over the planned BOM stock plan for September 1. What are some steps a buyer can take to resolve this situation and still...
9. Chrissy's Campus started August 1 at $65,000. This amount was $8,000 over the planned BOM stock figure. When the merchandise manager reviewed the purchase journal, he told the buyer to cancel orders to avoid being overbought. Look at the following figures and determine how much Chrissy's Campus would be overbought if the buyer does not cancel any orders. Planned BOM $57,000 Actual BOM $65,000 Planned sales $32,000 Planned markdowns $ 6,500 Planned EOM $48,000 Purchases on order $31,500 Would...
T12-3 (similar to) 21. EOM Consulting Services had the following transactions for the month of November. Journalize the transactions and include an explanation with each entry (Record de of the journal entry table.) (Click the icon to view the transactions.) Nov. 1: The business received $15,000 cash and gave capital to Ella Milton, the owner. Date Date Accounts and Explanation Debit Credit Nov. 1 15,000 Cash Milton, Capital 15,000 Owner contribution Owner withdrawal Pald advertising expense. Paid cash on account...
Question 4 Agapanthus Berhad projected sales and purchases for the month of October to December 2018 as below: Sales (RM 17,000 22,000 18,000 14,000 2018 Purchases (RM 12,000 14,000 13,000 14,000 tember October November December Wages of RM1,500 are paid in the month that they are incurred. Overhead expenses of RM1,200 are due each month and these are paid one month in arrears. On 1 November 2018, the company plan to buy a second-hand van for RM8,000 Sales are all...
please show calulations
3. The children's department had the following figures for October: Planned sales $500,000 Planned reductions $5,000 Planned stock, October 1 $850,000 Planned stock, November 1 $630,000 Outstanding orders Planned markup $200,000 51.8% (a) Determine the planned October purchases at retail for the children's department (b) What is the October OTB at cost?
E16.10 (LO 3) (Issuance and Exercise of Stock Options) On November 1, 2020, Columbo Com- pany adopted a stock-option plan that granted options to key executives to purchase 30,000 shares of the company's $10 par value common stock. The options were granted on January 2, 2021, and were exer- cisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was...
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