Homework Answers
Cash disbursement for purchase during December = $68,040
Working
| Payment for December purchase | (75600 x 70%) | $ 52,920.00 |
| Payment for November purchase | (50400 x 30%) | $ 15,120.00 |
| Total payment in December | $ 68,040.00 |
.
| October | November | December | |
| Sales | $ 96,000.00 | $ 72,000.00 | $ 108,000.00 |
| Cost of goods sold (70% of above) | $ 67,200.00 | $ 50,400.00 | $ 75,600.00 |
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200 180 120 200 T20 40,000 lio 50,000 Po 000 50000 go 556 500 60 834 n. in un. Expected un-sales - Bf sales & sal i...
120 3O000 S0.000 Po 60 556 834 Arpated un-salesBEsales WACM In arrency Margsafin un. Kun Sal....
120 3O000 S0.000 Po 60 556 834 Arpated un-salesBEsales WACM In arrency Margsafin un. Kun Sal. pine 5 Mix 7 625 7 Mix NC 3 5% 2 25 331.25 300 30oun Poo 550 PROBLEM 4 (10 pints) The sales budget of Hickory Company for the third quarter of 2018 is as follows: July $96,000 Sales August $72,000 September $108,000 Sales are 20% cash, 80 % credit. Cost of goods sold is 70% of total sales. Desired ending inventory for each...
120 40000 20 190 30 000 50,000 10000 go Po 556 834 MIX 6250 CMC f...
120 40000 20 190 30 000 50,000 10000 go Po 556 834 MIX 6250 CMC f safety in an Expected un-sales - Bf sales suf. In currency - Marg of saf in un.xunsal price Mix % WACM 300 200 500 un 62,5% 20115 550 Booun 37,5 %*$220.25 331.25 550 PROBLEM 4 (10 pints) 00 The sales budget of Hickory Company for the third quarter of 2018 is as follows: July August September Sales $96,000 $72,000 $108,000 Sales are 20% cash,...
60 834 556 - Expected un-sales-BE sales erreny - Mary of saf in un. aunt sal...
60 834 556 - Expected un-sales-BE sales erreny - Mary of saf in un. aunt sal phie Mix%. 6257 2015 O eng uc Mix 62 PROBLEM 3 (20 points) Caribbean Tool and Die Company's forecasted sales for April; May, June; and July are $150,000; $225.000 $180,000: and $210,000: respectively. Sales are 50% cash and 50% credit with all accounts receivables collected in the month following the sale, Cost of goods sold is 60% of sales and ending inventory is maintained...
60 34 556 Expatd un sales- BE sales in un-KlhSalpine CACM in un Safe Mix 15...
60 34 556 Expatd un sales- BE sales in un-KlhSalpine CACM in un Safe Mix 15 NC 625 7 2 25 PROBLEM 3 (20 points) 50 Caribbean Tool and Die Company's forecasted sales for April; May; June; and July are $150,000; $225,000 $180,000; and $210,000; respectively. Sales are 50% cash and 50% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 60 % of sales and ending inventory is maintained at $85,000...
i have test. Need help guys!!! ROBLEM 4 (10 pints) The sales budget of Hickory Company...
i have test. Need help guys!!!
ROBLEM 4 (10 pints) The sales budget of Hickory Company for the third quarter of 2018 is as follows: July August September Sales $96,000 $72,000 $108,000 Sales are 20% cash, 80% credit. Cost of goods sold is 70% of total sales. Desired ending inventory for each month is equal to 25% of cost of goods sold for the followil Collections on credit sales are as follows: 50% in the month of sale 30% in...
BLO PROBLEM 4 (10 pints) The sales budget of Hickory Company for the third quarter of...
BLO PROBLEM 4 (10 pints) The sales budget of Hickory Company for the third quarter of 2018 is as follows: July $96,000 August $72,000 September $108,000 Sales Sales are 20% cash , 80 % credit. Cost of goods sold is 70% of total sales. Desired ending inventory for each month is equal to 25% of cost of goods sold for the following mo Collections on credit sales are as follows: 50% in the month of sale 30% in the month...
Harden, Inc., has budgeted sales in units for the next five months as follows: June July...
Harden, Inc., has budgeted sales in units for the next five months as follows: June July August September October 8,200 units 6,500 units 8,300 units 8,000 units 6,100 units Past experience has shown that the ending inventory for each month should be equal to 15% of the next month's sales in units. The inventory on May 31 contained 1,230 units. The company needs to prepare a production budget for the next five months. The beginning inventory for September should be:...
October sales are estimated to be $240,000, of which 40 percent will be cash and 60...
October sales are estimated to be $240,000, of which 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 25 percent per month. Prepare a sales budget. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. The cost of goods sold is 60 percent of sales. The company desires to maintain...
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter....
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: April $ 710,000 497,000 213,000 May $ 880,000 616,000 264,000 June July $ 590,000 $ 490,000...
(2) Schedules Complete the sales and merchandise purchase plans with supporting schedules: a) A sales plan...
(2) Schedules
Complete the sales and merchandise purchase plans with supporting
schedules:
a) A sales plan by month and in total, including a schedule of
projected cash collections from sales and accounts receivable, by
month and in total (2 schedules).
b) An inventory purchases plan in units and in dollars, including a
schedule of projected cash payments for purchases, by month and in
total (3 schedules).
NOTE: All schedules and budgets should be calculated based on
information entered into the...
120 3O000 S0.000 Po 60 556 834 Arpated un-salesBEsales WACM In arrency Margsafin un. Kun Sal. pine 5 Mix 7 625 7 Mix NC 3 5% 2 25 331.25 300 30oun Poo 550 PROBLEM 4 (10 pints) The sales budget of Hickory Company for the third quarter of 2018 is as follows: July $96,000 Sales August $72,000 September $108,000 Sales are 20% cash, 80 % credit. Cost of goods sold is 70% of total sales. Desired ending inventory for each...
120 40000 20 190 30 000 50,000 10000 go Po 556 834 MIX 6250 CMC f safety in an Expected un-sales - Bf sales suf. In currency - Marg of saf in un.xunsal price Mix % WACM 300 200 500 un 62,5% 20115 550 Booun 37,5 %*$220.25 331.25 550 PROBLEM 4 (10 pints) 00 The sales budget of Hickory Company for the third quarter of 2018 is as follows: July August September Sales $96,000 $72,000 $108,000 Sales are 20% cash,...
60 834 556 - Expected un-sales-BE sales erreny - Mary of saf in un. aunt sal phie Mix%. 6257 2015 O eng uc Mix 62 PROBLEM 3 (20 points) Caribbean Tool and Die Company's forecasted sales for April; May, June; and July are $150,000; $225.000 $180,000: and $210,000: respectively. Sales are 50% cash and 50% credit with all accounts receivables collected in the month following the sale, Cost of goods sold is 60% of sales and ending inventory is maintained...
60 34 556 Expatd un sales- BE sales in un-KlhSalpine CACM in un Safe Mix 15 NC 625 7 2 25 PROBLEM 3 (20 points) 50 Caribbean Tool and Die Company's forecasted sales for April; May; June; and July are $150,000; $225,000 $180,000; and $210,000; respectively. Sales are 50% cash and 50% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 60 % of sales and ending inventory is maintained at $85,000...
i have test. Need help guys!!!
ROBLEM 4 (10 pints) The sales budget of Hickory Company for the third quarter of 2018 is as follows: July August September Sales $96,000 $72,000 $108,000 Sales are 20% cash, 80% credit. Cost of goods sold is 70% of total sales. Desired ending inventory for each month is equal to 25% of cost of goods sold for the followil Collections on credit sales are as follows: 50% in the month of sale 30% in...
BLO PROBLEM 4 (10 pints) The sales budget of Hickory Company for the third quarter of 2018 is as follows: July $96,000 August $72,000 September $108,000 Sales Sales are 20% cash , 80 % credit. Cost of goods sold is 70% of total sales. Desired ending inventory for each month is equal to 25% of cost of goods sold for the following mo Collections on credit sales are as follows: 50% in the month of sale 30% in the month...
Harden, Inc., has budgeted sales in units for the next five months as follows: June July August September October 8,200 units 6,500 units 8,300 units 8,000 units 6,100 units Past experience has shown that the ending inventory for each month should be equal to 15% of the next month's sales in units. The inventory on May 31 contained 1,230 units. The company needs to prepare a production budget for the next five months. The beginning inventory for September should be:...
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: April $ 710,000 497,000 213,000 May $ 880,000 616,000 264,000 June July $ 590,000 $ 490,000...
(2) Schedules
Complete the sales and merchandise purchase plans with supporting
schedules:
a) A sales plan by month and in total, including a schedule of
projected cash collections from sales and accounts receivable, by
month and in total (2 schedules).
b) An inventory purchases plan in units and in dollars, including a
schedule of projected cash payments for purchases, by month and in
total (3 schedules).
NOTE: All schedules and budgets should be calculated based on
information entered into the...
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