Valley Sports has budgeted sales for June, July, and August of $10,000, $12,000, and $15,000, respectively....
Valley Sports has budgeted sales for June, July, and August of $10,000, $12,000, and $15,000, respectively. The average cost of inventory is 60% of the selling price. Valley’s inventory guidelines are to have 70% of the next month’s cost of sales in inventory at the end of each month. July budgeted purchases are:
A. $5,100
B. $8,460
C. $15,500
D. Need more information to answer
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Valley Sports has budgeted sales for June, July, and August of
$10,000, $12,000, and $15,000, respectively....
ABC Company’s budgeted sales for June, July, and August are 12,400, 16,400, and 14,400 units respectively....
ABC Company’s budgeted sales for June, July, and August are 12,400, 16,400, and 14,400 units respectively. The selling price for each unit is $15. Based on past experience, ABC expects that 30% of a month’s sales will be collected in the month of sale, 60% in the following month, and 8% in the second month following the sale. Required: Prepare an analysis of cash receipts from sales for ABC Company for August.
ABC Company’s raw materials purchases for June, July, and August are budgeted at $46,000, $36,000, and...
ABC Company’s raw materials purchases for June, July, and August
are budgeted at $46,000, $36,000, and $61,000, respectively. Based
on past experience, ABC expects that 40% of a month’s raw material
purchases will be paid in the month of purchase and 60% in the
month following the purchase.
Required:
Prepare an analysis of cash disbursements from raw materials
purchases for ABC Company for August.
June July August Budgeted raw material purchases August cash payments: Current month's purchases Prior month's purchases...
answer with clear steps ABC Co., Inc. has budgeted sales revenues as follows: June July August...
answer with clear steps
ABC Co., Inc. has budgeted sales revenues as follows: June July August Credit sales $150,000 $160,000 $ 170,000 Cash sales 80,000 90.000 75.000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 70% is paid in the month of purchase and 30% in the month following purchase. Budgeted inventory...
ABC Company's budgeted sales for June, July, and August are 12,200, 16,200, and 14,200 units respectively....
ABC Company's budgeted sales for June, July, and August are 12,200, 16,200, and 14,200 units respectively. The following cost behavior patterns are budgeted for ABC Company's operating expenses each month: Fixed costs: salaries, $2,100; rent, $5,100; depreciation, $2,500; advertising, $3,300 Mixed costs: utilities, $3,100 + $0.60 per unit Variable costs per unit sold: sales commissions, $2.10; marketing promotions, $1.10; supplies, $0.80; bad debt expense, $0.30 Required: Prepare ABC Company's operating expense budget for June, July, and August. June July August...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
ABC Company's budgeted sales for June, July, and August are 14,600, 18,600, and 16,600 units respectively....
ABC Company's budgeted sales for June, July, and August are 14,600, 18,600, and 16,600 units respectively. The following cost behavior patterns are budgeted for ABC Company's operating expenses each month: Fixed costs: salaries, $3,300; rent, $6,300; depreciation, $3,700; advertising, $4,500 Mixed costs: utilities, $4,300 + $0.60 per unit Variable costs per unit sold: sales commissions, $3.30; marketing promotions, $2.30; supplies, $0.50; bad debt expense, $0,20 Required: Prepare ABC Company's operating expense budget for June, July, and August. June July August...
ABC Company's budgeted sales for June, July, and August are 13,800, 17,800, and 15,400 units respectively....
ABC Company's budgeted sales for June, July, and August are 13,800, 17,800, and 15,400 units respectively. Each unit that ABC Company produces uses 4 pounds of raw material. ABC requires 35% of the next month's budgeted production as raw material inventory each month. ABC Company currently pays a standard rate of $1.4 per pound for raw materials. Each unit should be produced in 30 minutes of direct labor time at a standard direct labor rate of $11 per hour. Manufacturing...
June sales were $30,000, while projected sales for July and August were $52,000 and $74,000, respectively....
June sales were $30,000, while projected sales for July and August were $52,000 and $74,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $12,000 O B. $38,800 O C. $31,200 OD. $43,200
ABC Company’s raw materials purchases for June, July, and August
are budgeted at $46,000, $36,000, and $61,000, respectively. Based
on past experience, ABC expects that 40% of a month’s raw material
purchases will be paid in the month of purchase and 60% in the
month following the purchase.
Required:
Prepare an analysis of cash disbursements from raw materials
purchases for ABC Company for August.
June July August Budgeted raw material purchases August cash payments: Current month's purchases Prior month's purchases...
answer with clear steps
ABC Co., Inc. has budgeted sales revenues as follows: June July August Credit sales $150,000 $160,000 $ 170,000 Cash sales 80,000 90.000 75.000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 70% is paid in the month of purchase and 30% in the month following purchase. Budgeted inventory...
ABC Company's budgeted sales for June, July, and August are 12,200, 16,200, and 14,200 units respectively. The following cost behavior patterns are budgeted for ABC Company's operating expenses each month: Fixed costs: salaries, $2,100; rent, $5,100; depreciation, $2,500; advertising, $3,300 Mixed costs: utilities, $3,100 + $0.60 per unit Variable costs per unit sold: sales commissions, $2.10; marketing promotions, $1.10; supplies, $0.80; bad debt expense, $0.30 Required: Prepare ABC Company's operating expense budget for June, July, and August. June July August...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8 in June,...
ABC Company's budgeted sales for June, July, and August are 14,600, 18,600, and 16,600 units respectively. The following cost behavior patterns are budgeted for ABC Company's operating expenses each month: Fixed costs: salaries, $3,300; rent, $6,300; depreciation, $3,700; advertising, $4,500 Mixed costs: utilities, $4,300 + $0.60 per unit Variable costs per unit sold: sales commissions, $3.30; marketing promotions, $2.30; supplies, $0.50; bad debt expense, $0,20 Required: Prepare ABC Company's operating expense budget for June, July, and August. June July August...
ABC Company's budgeted sales for June, July, and August are 13,800, 17,800, and 15,400 units respectively. Each unit that ABC Company produces uses 4 pounds of raw material. ABC requires 35% of the next month's budgeted production as raw material inventory each month. ABC Company currently pays a standard rate of $1.4 per pound for raw materials. Each unit should be produced in 30 minutes of direct labor time at a standard direct labor rate of $11 per hour. Manufacturing...
June sales were $30,000, while projected sales for July and August were $52,000 and $74,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $12,000 O B. $38,800 O C. $31,200 OD. $43,200
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