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...
Crane Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Carol Jones, the firm’s marketing director, has completed the following sales forecast. Crane Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Carol Jones, the firm's marketing director, has completed following sales forecast. Month...
Vaughn Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Carol Jones, the firm's marketing director, has completed the following sales forecast. Month January February March April May June Sales $908,300 $1,005,800 $908,300 $1,153,500 $1,252,100 $1,409,900 Month July August September October November December Sales $1,504,200 $1,504,200 $1,606,500 $1,606,500 $1,504,200 $1,707,200 Phillip Smith,...
Question 4 (22 marks) Glamping Products Pty Ltd is a supplier of modern camping beds to the retail sector They are currently designing their first forward budgeting reports, and have asked for your assistance in preparing some sample budgets for their internal management use. They have provided you with the following information: Estimated sales units: Month (2019) June July Sales...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash 58,000 484,640 91,290 Accounts receivable Raw materials inventory Finished goods inventory 393,304 Total current assets 1,027,234 Equipment, gross Accumulated depreciation Equipment, net 636,000 168,000) 468,000 $1,495,234 Total assets Liabilities and Equity Accounts payable Short-term notes payable...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash $ 42,000 Accounts receivable 364,000 Raw materials inventory 107,200 Finished goods inventory 349,440 Total current assets 862,640 Equipment 604,000 Accumulated depreciation (152,000 ) Equipment, net 452,000 Total assets $ 1,314,640 Liabilities and Equity Accounts payable $...
Required information [The following information applies to the questions displayed below.] The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2013: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2013 Assets Cash $ 48,000 Accounts receivable 438,750 Raw materials inventory 87,900 Finished goods inventory 383,760 Total current assets 958,410 Equipment, gross 616,000 Accumulated...
PR 22-4A Cash budget OBJ. 5 The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash bud- get for the next three months. You are presented with the following budget information: May June July Sales .................................... ......******* $86,000 $90,000 $95,000 Manufacturing costs........ 34,000 39,000 44,000 Selling and administrative expenses...... 15,000 16,000 22,000 Capital expenditures ...... 80,000 The...
The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $116,000 $143,000 $191,000 Manufacturing costs 49,000 61,000 69,000 Selling and administrative expenses 34,000 39,000 42,000 Capital expenditures _ _ 46,000 The company expects to sell about 10% of its...
Dudgeted cost of goods sold April 564,000 $74,000 June $84,000 July $90,000 Rooney had a beginning inventory balance of $3.700 on April 1 and a beginning balance in accounts payable of $15,700. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Rooney makes all purchases on account. The...