Larkspur Company sells goods to Cullumber Company during 2017. It offers Cullumber the following rebates based...
Larkspur Company sells goods to Cullumber Company during 2017.
It offers Cullumber the following rebates based on total sales to
Cullumber. If total sales to Cullumber are 10,500 units, it will
grant a rebate of 2%. If it sells up to 21,200 units, it will grant
a rebate of 5%. If it sells up to 30,800 units, it will grant a
rebate of 6%. In the first quarter of the year, Larkspur sells
10,600 units to Cullumber at a sales price of $106,000. Larkspur,
based on past experience, has sold over 37,600 units to Cullumber,
and these sales normally take place in the third quarter of the
year.
What amount of revenue should Larkspur report for the sale of the
10,600 units in the first quarter of the year.
| Revenue |
Homework Answers
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Larkspur Company sells goods to Cullumber Company during 2017.
It offers Cullumber the following rebates based...
brief exercise 18-12 Bonita company sells goods to Windsor company during 2017. it offers Windsor the...
brief exercise 18-12 Bonita company sells goods to Windsor
company during 2017. it offers Windsor the following rebates based
on total sales to Windsor . it total sales to Windsor are 10,500
units , it will grant a rebate of 3%.if it sells up to 18,600
units, it will grant a rebate of 4%. if it sells up to 29,000
units, it will grant a rebate of 7%. in the first quarter of the
year, Bonita sells 10,400 units to...
nment CALCULATOR FULL SCREEN PRINTER VERSION « BACK NEXT Brief Exercise 18-12 Sarasota Company sells goods...
nment CALCULATOR FULL SCREEN PRINTER VERSION « BACK NEXT Brief Exercise 18-12 Sarasota Company sells goods to Ivanhoe Company during 2017. It offers Ivanhoe the following rebates based on total sales to Ivanhoe. If total sales to Ivanhoe are 10,900 units, it will grant a rebate of 3%. If it sells up to 18,800 units, it will grant a rebate of 5%. If it sells up to 30,900 units, it will grant a rebate of 6%. In the first quarter...
Question 2 Cullumber Company makes and sells artistic frames for pictures. The controller is responsible for...
Question 2 Cullumber Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2020. February March January April May Estimated unit sales 10,300 11,600 9,000 8,300 8,000 Sales price per unit $50.30 $48.70 $48.70 $48.70 $48.70 Direct labor hours per unit 2.3 2.3 1.6 1.6 1.6 Wage per direct labor hour $8 $8 $8 $9 $9 Cullumber has a labor contract that calls for a wage...
Cullumber Company is preparing its master budget for 2020. Relevant data pertaining to its sales, production,...
Cullumber Company is preparing its master budget for 2020.
Relevant data pertaining to its sales, production, and direct
materials budgets are as follows.
Sales. Sales for the year are expected to total
2,000,000 units. Quarterly sales are 18%, 26%, 23%, and 33%,
respectively. The sales price is expected to be $38 per unit for
the first three quarters and $45 per unit beginning in the fourth
quarter. Sales in the first quarter of 2021 are expected to be 15%
higher...
5. Shalimar Company manufactures and sells industrials products. For 2017, Shalimar has budgeted the following sales:...
5. Shalimar Company manufactures and sells industrials products. For 2017, Shalimar has budgeted the following sales: Quarter 1 Quarter 2 Quarter 3 Quarter 4 $4,600,000 5,100,000 5,000,000 7,600,000 in Shalimar's experience regarding sales on account, 75% are collected in the quarter of sale, and 22% are collected in the quarter following the sales. 3% are never collected. Total sales for the current third quarter is $4,900,000 and for the current fourth quarter is $6,850,000. Construct a cash receipts budget for...
Cullumber Company sells total outdoor grilling solutions, providing gas and charcoal grills, accessories, and installation services...
Cullumber Company sells total outdoor grilling solutions, providing gas and charcoal grills, accessories, and installation services for custom patio grilling stations. Respond to the requirements related to the following independent revenue arrangements for Cullumber products and services. Click here to view factor table. Cullumber offers contract GM205, which is comprised of a free-standing gas grill for small patio use plus installation to a customer's gas line for a total price $737. On a standalone basis, the grill sells for $637...
Exercise 21-4 Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast...
Exercise 21-4 Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 5,100 7,330 8,220 10,240 The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter and in...
Preparing a Sales Budget Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following...
Preparing a Sales Budget Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sold in the first 3 months of the coming year: 41,000 January February 38,000 50,000 March The average price for a drum is $42. Required: Prepare a sales budget for the first 3 months of the coming year, showing units and sales revenue by month and in total for the quarter. Do not include a multiplication symbol as part of your...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget
FlashKick Company manufactures and sells soccer balls for teams
of children in elementary and high school. FlashKick’s best-selling
lines are the practice ball line (durable soccer balls for training
and practice) and the match ball line (high-performance soccer
balls used in games). In the first four months of next year,
FlashKick expects to sell the following:
Required:
Hide
1. Construct a sales budget for FlashKick for
the first three months of the coming year. Show total sales for...
Thanks! Bridgeport Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is...
Thanks!
Bridgeport Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 5,200 2 7,110 8,190 10,240 The January 1, 2017, inventory of HD-240 is 2,080 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter and in...
brief exercise 18-12 Bonita company sells goods to Windsor
company during 2017. it offers Windsor the following rebates based
on total sales to Windsor . it total sales to Windsor are 10,500
units , it will grant a rebate of 3%.if it sells up to 18,600
units, it will grant a rebate of 4%. if it sells up to 29,000
units, it will grant a rebate of 7%. in the first quarter of the
year, Bonita sells 10,400 units to...
nment CALCULATOR FULL SCREEN PRINTER VERSION « BACK NEXT Brief Exercise 18-12 Sarasota Company sells goods to Ivanhoe Company during 2017. It offers Ivanhoe the following rebates based on total sales to Ivanhoe. If total sales to Ivanhoe are 10,900 units, it will grant a rebate of 3%. If it sells up to 18,800 units, it will grant a rebate of 5%. If it sells up to 30,900 units, it will grant a rebate of 6%. In the first quarter...
Question 2 Cullumber Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2020. February March January April May Estimated unit sales 10,300 11,600 9,000 8,300 8,000 Sales price per unit $50.30 $48.70 $48.70 $48.70 $48.70 Direct labor hours per unit 2.3 2.3 1.6 1.6 1.6 Wage per direct labor hour $8 $8 $8 $9 $9 Cullumber has a labor contract that calls for a wage...
Cullumber Company is preparing its master budget for 2020.
Relevant data pertaining to its sales, production, and direct
materials budgets are as follows.
Sales. Sales for the year are expected to total
2,000,000 units. Quarterly sales are 18%, 26%, 23%, and 33%,
respectively. The sales price is expected to be $38 per unit for
the first three quarters and $45 per unit beginning in the fourth
quarter. Sales in the first quarter of 2021 are expected to be 15%
higher...
5. Shalimar Company manufactures and sells industrials products. For 2017, Shalimar has budgeted the following sales: Quarter 1 Quarter 2 Quarter 3 Quarter 4 $4,600,000 5,100,000 5,000,000 7,600,000 in Shalimar's experience regarding sales on account, 75% are collected in the quarter of sale, and 22% are collected in the quarter following the sales. 3% are never collected. Total sales for the current third quarter is $4,900,000 and for the current fourth quarter is $6,850,000. Construct a cash receipts budget for...
Cullumber Company sells total outdoor grilling solutions, providing gas and charcoal grills, accessories, and installation services for custom patio grilling stations. Respond to the requirements related to the following independent revenue arrangements for Cullumber products and services. Click here to view factor table. Cullumber offers contract GM205, which is comprised of a free-standing gas grill for small patio use plus installation to a customer's gas line for a total price $737. On a standalone basis, the grill sells for $637...
Exercise 21-4 Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 5,100 7,330 8,220 10,240 The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter and in...
Preparing a Sales Budget Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sold in the first 3 months of the coming year: 41,000 January February 38,000 50,000 March The average price for a drum is $42. Required: Prepare a sales budget for the first 3 months of the coming year, showing units and sales revenue by month and in total for the quarter. Do not include a multiplication symbol as part of your...
Thanks!
Bridgeport Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 5,200 2 7,110 8,190 10,240 The January 1, 2017, inventory of HD-240 is 2,080 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter and in...
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