Homework Answers
Budgeted purchase for January is $78,000.
Correct option is D.
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Wallace Company provides the following data for next year: January February March April Budgeted Purchases $78,000...
Wallace Company provides the following data for next year: Month Budgeted Sales January $123,000 February 114,000...
Wallace Company provides the following data for next year: Month Budgeted Sales January $123,000 February 114,000 March 136,000 April 145,000 The gross profit rate is 30% of sales. Inventory at the end of December is $22,600and target ending inventory levels are 30% of next month's sales, stated at cost What is the amount of purchases budgeted for February? $114,660 $28,560 $79,800 $84,420
Wallace Company provides the following data for next year. Month Budgeted Sales January $124,000 February 118,000...
Wallace Company provides the following data for next year. Month Budgeted Sales January $124,000 February 118,000 March 142.000 April 147,000 The gross profit rate is 35% of sales. Inventory at the end of December is $22,600and target ending inventory levels are 10% of next month's sales, stated at cost. What is the amount of purchases budgeted for January? $65,670 $72,930 $80,600 $88,270
Wallace Company provides the following data for next year: Month Budgeted Sales January $129,000 Febr...
Wallace Company provides the following data for next year: Month Budgeted Sales January $129,000 February 113,000 March 132,000 April 148,000 The gross profit rate is 35% of sales. Inventory at the end of December is $30,600 and target ending inventory levels are 30% of next month's sales, stated at cost. What is the amount of purchases budgeted for February? A. $32,340 B. $77,155 C. $73,450 D. $ 109,590
Aloan Co. provides the following sales forecast for the next three months: January February March 3,900...
Aloan Co. provides the following sales forecast for the next three months: January February March 3,900 5,100 5,900 Sales units The company wants to end each month with ending finished goods inventory equal to 10% of the next month's sales. Finished goods inventory on December 31 is 390 units. The budgeted production units for February are: Multiple Choice 5,900 units. 5,100 units. 5,690 units. 5,180 units. 5,020 units
Fosnight Enterprises prepared the following sales budget: Month March April May June Budgeted Sales $6,000 $12.000...
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 March April Budgeted Sales $3,000 $10,000 $13,000 $17...
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
Aloan Co. provides the following sales forecast for the next three months: January February March 3,200...
Aloan Co. provides the following sales forecast for the next three months: January February March 3,200 4,400 5,200 Sales units The company wants to end each month with ending finished goods inventory equal to 20% of the next month's sales. Finished goods inventory on December 31 is 640 units. The budgeted production units for January are: Multiple Choice 3,200 units. 4,080 units. 128 units. 3,440 units. 2,960 units. Webster Corporation is preparing its cash budget for April. The March 31...
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000...
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000 8,000 9,000 11,000 15,000 The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have...
Question Help Fospight Enterprises prepared the following sales budget Budgeted Sales $3,000 Month March April May...
Question Help Fospight Enterprises prepared the following sales budget Budgeted Sales $3,000 Month March April May June $11,000 $15,000 $10,000 The expected gross profitrate is 20% and the inventory at the end of February was $13,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold. What are the total purchases budgeted for April? hts fc O A. $9,120 O B. $880 OC. $9,680 OD. $8,480 Click to select your answer...
provided Nove Budgeted 2020 Sales: Water bottles February 7,000 produce a cash budger for March January 8.000 8...
provided Nove Budgeted 2020 Sales: Water bottles February 7,000 produce a cash budger for March January 8.000 8,000 April 10,000 Additional information for your budget preparation is as follows: a) Because of increased competition the average sales price per water bottle in 2020 is expected to drop to b) Wonderful Water bottles has a policy that each month's ending inventory of finished goods (water bottles) $15.00 per bottle should be 20% of the following month's sales in units. Ending inventory...
Wallace Company provides the following data for next year: Month Budgeted Sales January $123,000 February 114,000 March 136,000 April 145,000 The gross profit rate is 30% of sales. Inventory at the end of December is $22,600and target ending inventory levels are 30% of next month's sales, stated at cost What is the amount of purchases budgeted for February? $114,660 $28,560 $79,800 $84,420
Wallace Company provides the following data for next year. Month Budgeted Sales January $124,000 February 118,000 March 142.000 April 147,000 The gross profit rate is 35% of sales. Inventory at the end of December is $22,600and target ending inventory levels are 10% of next month's sales, stated at cost. What is the amount of purchases budgeted for January? $65,670 $72,930 $80,600 $88,270
Aloan Co. provides the following sales forecast for the next three months: January February March 3,900 5,100 5,900 Sales units The company wants to end each month with ending finished goods inventory equal to 10% of the next month's sales. Finished goods inventory on December 31 is 390 units. The budgeted production units for February are: Multiple Choice 5,900 units. 5,100 units. 5,690 units. 5,180 units. 5,020 units
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 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
Aloan Co. provides the following sales forecast for the next three months: January February March 3,200 4,400 5,200 Sales units The company wants to end each month with ending finished goods inventory equal to 20% of the next month's sales. Finished goods inventory on December 31 is 640 units. The budgeted production units for January are: Multiple Choice 3,200 units. 4,080 units. 128 units. 3,440 units. 2,960 units. Webster Corporation is preparing its cash budget for April. The March 31...
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000 8,000 9,000 11,000 15,000 The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have...
Question Help Fospight Enterprises prepared the following sales budget Budgeted Sales $3,000 Month March April May June $11,000 $15,000 $10,000 The expected gross profitrate is 20% and the inventory at the end of February was $13,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold. What are the total purchases budgeted for April? hts fc O A. $9,120 O B. $880 OC. $9,680 OD. $8,480 Click to select your answer...
provided Nove Budgeted 2020 Sales: Water bottles February 7,000 produce a cash budger for March January 8.000 8,000 April 10,000 Additional information for your budget preparation is as follows: a) Because of increased competition the average sales price per water bottle in 2020 is expected to drop to b) Wonderful Water bottles has a policy that each month's ending inventory of finished goods (water bottles) $15.00 per bottle should be 20% of the following month's sales in units. Ending inventory...
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