Merchandise purchases budget
April | may | June | |
Next month budgeted sales | 1290000 | 520000 | 1710000 |
Ratio of inventory to future sales | 40% | 40% | 40% |
Desired ending inventory | 516000 | 208000 | 684000 |
Budgeted sales | 1680000 | 1290000 | 520000 |
Total | 2196000 | 1498000 | 1204000 |
Less: Beginning inventory | -230000 | -516000 | -208000 |
Required purchase | 1966000 | 982000 | 996000 |
Lexi Company forecasts unit sales of 1,680,000 in April, 1.290,000 in May. 520,000 in June, and...
QS 22-29A Merchandising: Computing purchases LO P4 Lexi Company forecasts unit sales of 1,200,000 in April, 1,290,000 in May, 350,000 in June, and 1,100,000 in July. Beginning inventory on April 1 is 380,000 units, and the company wants to have 30% of next month's sales in inventory at the end of each month. Prepare a merchandise purchases budget for the months of April, May, and June. LEXI COMPANY Merchandise Purchases Budget For April, May, and June April Next month's budgeted...
Lexi Company forecasts unit sales of 1,750,000 in April, 1,260,000 in May, 490,000 in June, and 1,530,000 in July. Beginning inventory on April 1 is 330,000 units, and the company wants to have 30% of next month’s sales in inventory at the end of each month. Prepare a merchandise purchases budget for the months of April, May, and June.
Artec Company sells its product for $190 per unit. Its actual and budgeted sales follow. April (actual) May (actuan June (budgeted) July (budgeted) August (budgeted) Units 9,500 2,800 8,000 7,500 4,100 Dollars $1,805,000 532,000 1,520,000 1,425,000 779,000 All sales are on credit Recent experience shows that 24% of credit sales is collected in the month of the sale, 46% in the month after the sale, 29% in the second month after the sale, and 1% proves to be uncollectible The...
X-Tel budgets sales of $60,000 for April, $120,000 for May, and $85,000 for June. In addition, sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $18,000. Prepare a schedule of budgeted cash receipts for April, May, and June May June X-TEL Cash Receipts Budget For April, May, and June April Sales Less: Ending accounts receivable Cash receipts from: Cash sales Collections of...
Ruiz Co. provides the following sales forecast for the next four months: April May June July Sales (units) 630 710 660 750 The company wants to end each month with ending finished goods inventory equal to 20% of next month's forecasted sales. Finished goods inventory on April 1 is 126 units. Assume July's budgeted production is 660 units. In addition, each finished unit requires four pounds (lbs.) of raw materials and the company wants to end each month with...
Ruiz Co. provides the following sales forecast for the next four months. April May June July Sales (units) 550 630 580 670 The company wants to end each month with ending finished goods inventory equal to 20% of next month's forecasted sales. Finished goods inventory on April 1 is 110 units. Prepare a production budget for the months of April, May, and June. UINUATIV Wants to end each month with ending finished goods inventory equal to 209 goods inventory on...
Required information Ruiz Co. provides the following sales forecast for the next four months: April Мay 590 June July Sales (units) 510 540 630 The company wants to end each month with ending finished goods inventory equal to 40% of next month's forecasted sales. Finished goods inventory on April 1 is 204 units. Assume July's budgeted production is 540 units. In addition, each finished unit requires four pounds (lbs.) of raw materials and the company wants to end each month...
Ruiz Co. provides the following sales forecast for the next four months. Sales (units) April 560 May 640 June 590 July 680 The company wants to end each month with ending finished goods inventory equal to 20% of next month's forecasted sales. Finished goods inventory on April 1 is 112 units. Prepare a production budget for the months of April, May, and June. The company wants to end each month with ending finished goods inventory equal to 20% of next...
Brandon Company has prepared the following sales budget: Month Budgeted Sales March $200,000 April 180,000 May 220,000 June 240,000 Cost of goods sold is budgeted at 40% of sales and the inventory at the end of February was $40,000. Desired inventory levels at the end of each month are 20% of the next month's cost of goods sold. What is the desired beginning inventory on June 1? So, beginning Inventory for June is ending inventory for May. End Inv May...
Aztec Company sells its product for $190 per unit its actual and budgeted sales to low. Units Dollars $950,000 Aprill (actual) May (actual) June (budgeted) July (budgeted) August (budgeted) 5.000 2,000 7,500 6,000 4,300 380,000 1.425,000 1.140,000 817,000 All sales are on credit. Recent experience shows that 20% of credit sales is collected in the month of the sale, 50% in the month after the sale, 29% in the second month after the sale, and 1% proves to be uncollectible....