1.
Calculate cost per unit as follows:
Sales | $206,500 |
Selling price per unit | $35 |
Number of units ($206500/$35) | 5900 |
COGS | $23,600 |
Number of units | 5900 |
Cost per unit | $4 |
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2.
Prepare a schedule as follows:
May | June | July | August | |
Sales value (A) | $140,000 | $206,500 | $130,550 | $165,550 |
Selling price per unit (B) | $35 | $35 | $35 | $35 |
Number of unit [C= A/B] | 4000 | 5900 | 3730 | 4730 |
Sales units (D) | 4000 | 5900 | 3730 | |
Ending inventory (50% of the following month's expected units) (E) | 2950 | 1865 | 2365 | |
Beginning inventory (F) | 2000 | 2950 | 1865 | |
Purchase [G= D+E-F] | 4950 | 4815 | 4230 | |
Cost per unit $4 | $4 | $4 | $4 | |
Total | $19,800 | $19,260 | $16,920 |
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3.
May | June | July | |
Units | 4950 | 4815 | 4230 |
Purchase price per unit | $4 | $4 | $4 |
$19,800 | $19,260 | $16,920 |
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4.
Calculate the percentages as follows:
Working | ||
% Collected in April | 49% | (24990/51000) |
% Collected in May | 40% | (20400/51000) |
% Collected in June | 7% | (3570/51000) |
4% | (2040/51000) | |
100% |
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As HOMEWORKLIB RULES guideline 4 subparts should be answered. Thank you!
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