Homework Answers
Units to be purchased
= Budgeted sales + Desired ending inventory - Beginning inventory
= 1500 + (500*40%) - (1500*40%)
= 1100 units
Total Cost of budgeted purchases = 1100*40
= 44,000
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Garfield Corp. expects to sell 1,500 units of its pet beds in March and 500 units in April. Each unit sells for $150. G...
Garfield Corp. expects to sell 1,200 units of its pet beds in March and 900 units...
Garfield Corp. expects to sell 1,200 units of its pet beds in March and 900 units in April. Each unit sells for $130. Garfield's ending inventory policy is 20 percent of the following month's sales. Garfield pays its supplier $30 per unit. Compute Garfield's budgeted purchases for March. Total Cost of Budgeted Purchases
1. Saxim Company expects to sell 30,000 units, 40,000 units, and 50,000 units in April, May,...
1. Saxim Company expects to sell 30,000 units, 40,000 units, and 50,000 units in April, May, and June, respectively. If it has a policy of having 30% of the next month's sales on hand at the end of the month, the number of units to be purchased in May should be: 2. Credit sales for April, May, and June are $40,000, $60,000, and $30,000, respectively. Collection patterns are: 25% of any month's sales are collected the month of sale; 50%...
Shadee Corp. expects to sell 590 sun visors in May and 310 in June. Each visor sells for $21. Shadee’s beginning and ending finished goods inventories for May are 75 and 40 units, respectively. Ending finished goods inventory for June will be 55 units.
Shadee Corp. expects to sell 590 sun visors in May and 310 in June. Each visor sells for $21. Shadee’s beginning and ending finished goods inventories for May are 75 and 40 units, respectively. Ending finished goods inventory for June will be 55 units.E8-8 (Algo) Preparing Cost of Goods Sold Budget [LO 8-3f]Each visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each....
Shadee Corp. expects to sell 510 sun visors in May and 420 in June. Each visor...
Shadee Corp. expects to sell 510 sun visors in May and 420 in June. Each visor sells for $21. Shadee’s beginning and ending finished goods inventories for May are 80 and 45 units, respectively. Ending finished goods inventory for June will be 70 units. Each visor requires a total of $4.50 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $2.00 each. Shadee wants to have 35 closures on hand...
[The following information applies to the questions displayed below.] Shadee Corp. expects to sell 630 sun...
[The following information applies to the questions displayed below.] Shadee Corp. expects to sell 630 sun visors in May and 440 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 75 and 40 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $5.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50...
Aztec Company sells its product for $150 per unit. Its actual and budgeted sales follow. Units Dollars April (ac...
Aztec Company sells its product for $150 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) 3,500 $ 525,000 May (actual) 2,400 360,000 June (budgeted) 5,500 825,000 July (budgeted) 4,500 824,000 August (budgeted) 4,400 660,000 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, 25% in the second month after the sale, and 5% proves to be uncollectible....
PART 1 Shadee Corp. expects to sell 550 sun visors in May and 320 in June....
PART 1 Shadee Corp. expects to sell 550 sun visors in May and 320 in June. Each visor sells for $22. Shadee’s beginning and ending finished goods inventories for May are 60 and 50 units, respectively. Ending finished goods inventory for June will be 65 units. Required: 1. Determine Shadee's budgeted total sales for May and June. 2. Determine Shadee's budgeted production in units for May and June. Required 1 Determine Shadee's budgeted total sales for May and June. May...
Aztec Company sells its product for $150 per unit. Its actual and budgeted sales follow. Units...
Aztec Company sells its product for $150 per unit. Its actual
and budgeted sales follow.
Units
Dollars
April (actual)
4,500
$
675,000
May (actual)
2,600
390,000
June (budgeted)
6,000
900,000
July (budgeted)
5,000
899,000
August (budgeted)
4,200
630,000
All sales are on credit. Recent experience shows that 30% of credit
sales is collected in the month of the sale, 40% in the month after
the sale, 26% in the second month after the sale, and 4% proves to
be uncollectible....
Outdoor Company expects to sell 6500 units for $ 155 each for a total of $...
Outdoor Company expects to sell 6500 units for $ 155 each for a
total of $ 1,007,500 in January and 3 comma 200 units for $ 225
each for a total of $ 720,000 in February. The company expects cost
of goods sold to average 50% of sales revenue, and the company
expects to sell 4400 units in March for $ 270 each. Outdoor's
target ending inventory is $ 11000 plus 40% of the next month's
cost of goods sold....
[The following information applies to the questions displayed below.] Shadee Corp. expects to sell 630 sun...
[The following information applies to the questions displayed below.] Shadee Corp. expects to sell 630 sun visors in May and 440 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 75 and 40 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $5.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50...
Garfield Corp. expects to sell 1,200 units of its pet beds in March and 900 units in April. Each unit sells for $130. Garfield's ending inventory policy is 20 percent of the following month's sales. Garfield pays its supplier $30 per unit. Compute Garfield's budgeted purchases for March. Total Cost of Budgeted Purchases
1. Saxim Company expects to sell 30,000 units, 40,000 units, and 50,000 units in April, May, and June, respectively. If it has a policy of having 30% of the next month's sales on hand at the end of the month, the number of units to be purchased in May should be: 2. Credit sales for April, May, and June are $40,000, $60,000, and $30,000, respectively. Collection patterns are: 25% of any month's sales are collected the month of sale; 50%...
[The following information applies to the questions displayed below.] Shadee Corp. expects to sell 630 sun visors in May and 440 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 75 and 40 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $5.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50...
Aztec Company sells its product for $150 per unit. Its actual
and budgeted sales follow.
Units
Dollars
April (actual)
4,500
$
675,000
May (actual)
2,600
390,000
June (budgeted)
6,000
900,000
July (budgeted)
5,000
899,000
August (budgeted)
4,200
630,000
All sales are on credit. Recent experience shows that 30% of credit
sales is collected in the month of the sale, 40% in the month after
the sale, 26% in the second month after the sale, and 4% proves to
be uncollectible....
Outdoor Company expects to sell 6500 units for $ 155 each for a
total of $ 1,007,500 in January and 3 comma 200 units for $ 225
each for a total of $ 720,000 in February. The company expects cost
of goods sold to average 50% of sales revenue, and the company
expects to sell 4400 units in March for $ 270 each. Outdoor's
target ending inventory is $ 11000 plus 40% of the next month's
cost of goods sold....
[The following information applies to the questions displayed below.] Shadee Corp. expects to sell 630 sun visors in May and 440 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 75 and 40 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $5.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50...
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