Just 10. Cost of Merchandise Purchase. The next four questions are based on the following information: Coco Chips Company, a retail store, prepares its master budget on a quarterly basis. The budget officer has gathered the following data: a. Budgeted Sales for the next three months Cash Sales Credit Sales April $ 20,000 $ 359,000 May $ 30,000 $ 548,000...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained...
Problem 22-7AA Merchandising: Preparation and analysis of cash budgets with supporting inventory and purchases budgets LO P4 Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) 4,000 $ 640,000 May (actual) 2,800 448,000 June (budgeted) 4,500 720,000 July (budgeted) 3,500 719,000 August (budgeted) 4,100 656,000 All sales are on credit....
PLEASE HELP I HAVE TO HAVE THIS DONE SOON Cash budget—Basic Grenoble Enterprises had sales of $50,200 in March and $59,800 in April. Forecast sales for May, June, and July are $70,300, $79,900, and $100,500, respectively. The firm has a cash balance of $5,100 on May 1 and wishes to maintain a minimum cash balance of $5,100. Given the following...
Cash Budget—Basic Grenoble Enterprises had sales of 49,700 in March and $60,200 in April. Forecast sales for May, June, and July are $69,700,$79,600, and $100,500,respectively. The firm has a cash balance of $5,300 on May 1 and wishes to maintain a minimum cash balance of $5,300. Given the following data, prepare and interpret a cash budget for the months of...
please help with required 8! The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained...
Cash budget-Basic Grenoble Enterprises had sales of $49,900 in March and $59,800 in April. Forecast sales for May, June, and July are $69,900, $80,200, and $99,700, respectively. The firm has a cash balance of $5,500 on May 1 and wishes to maintain a minimum cash balance of $5,500. Given the following data, prepare and interpret a cash budget for the...
Problem 14-18 Preparing an inventory purchases budget and schedule of cash payments LO 14-3 Humboldt, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July April May June July $37,500 $34.000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a beginning inventory balance of $1,800 on April 1...
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...