Sales in June= Sales in March*(1+5%)*(1+2%)*(1+10%)=119163*1.05*1.02*1.1=$140385.93
COGS=Sales*68%=$85635.41
Gross Prfoit=Sales-COGS=$54750.52
2.6 points in April 3% in May, and 5% in June Cost of goods sold is expected to QUESTION 8 Yorky Enterprises had sales of $160.000 in March Management expects month month sales increases of 5 remain constant at 70% of sales Budgeted gross proft (rounded to the nearest dollar, if necessary for June A $126,560 $127.184 C $54508 D$54.240 E none of these
Sander Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $5000 137000 $14,000 $17.000 The expected gross profitrate is 10% and the inventory at the end of February was $13,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What are the total purchases budgeted for April? $11,520 $14,040 $11,880 $11,700
Fosnight Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $6,000 $12.000 $10,000 $11,000 The expected gross profit rate is 20% and the inventory at the end of February was $8,000. Desired Inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired ending Inventory on May 31? O A $440 OB. $1,600 OC. $8,800 OD. $1.760
Sander Enterprises prepared the following sales budget: Month Budgeted Sales March $7000 April $12,000 May $11,000 June $18,000 The expected gross profit rate is 20% and the inventory at the end of February was $5000. Desired inventory levels at the end of the month are 30% of the next month's cost of goods sold. What are the total purchases budgeted for May? $11,440 $8800 $7120 $10,480
Sander Enterprises prepared the following sales budget: Month Budgeted Sales March $7,000 April $12,000 May $11,000 June $18,000 The expected gross profit rate is 20% and the inventory at the end of February was $5,000. Desired inventory levels at the end of the month are30% of the next month's cost of goods sold. What are the total purchases budgeted for May? A. $8,800 B. $7,120 C. $11,440 D. $10,480
Sander Enterprises prepared the following sales budget: Month March April Budgeted Sales $3,000 $10,000 $13,000 $17.000 May June The expected gross profit rate is 30% and the inventory at the end of February was $9.000. Desired inventory levels at the end of the month are 30% of the next month's cost of goods sold. What are the total purchases budgeted for May? OA. $11,830 OB. $8,260 OC. $9,100 OD. $9,940
Fosnight Enterprises prepared the following sales budget Budgeted Sales $5,000 $14,000 Month March April May $10,000 $14,000 June The expected gross profit rate is 20% and the inventory at the end of February was $12,000. Desired inventory levels at the end of the month are 20 % of the next month's cost of goods sold. What are the total purchases budgeted for April? OA. $10,560 O B. $11.840 O C. $2,240 O D. $13,440
a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May June July $ 60,000 $ 76,000 $ 81,000 $106,000 $ 57,000 c. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales d. Each month's ending inventory should equal 80% of the following month's budgeted cost of goods sold. e One-half...
Fosnight Enterprises prepared the following sales budget: Month Budgeted Sales March $6,000 April $13,000 May $11,000 June $20,000 The expected gross profit rate is 20% and the inventory at the end of February was $7,000. Desired inventory levels at the end of the month are 30% of the nextmonth's cost of goods sold. What is the desired ending inventory on May 31? A. $16,000 B. $1,200 C. $2,640 D. $ 4,800
Following are the budgeted income statements for the second quarter of 2019 for SeaTech Inc.: April May June Sales $ 210,000 $ 255,000 $ 285,000 Cost of goods sold* 144,000 171,000 189,000 Gross profit $ 66,000 $ 84,000 $ 96,000 Operating expenses† 33,000 37,500 40,500 Operating income $ 33,000 $ 46,500 $ 55,500 * Includes all product costs (i.e., direct materials, direct labor, and manufacturing overhead). † Includes all period costs (i.e., selling, general, and administrative expenses). The company expects...