The Cookie Shop's purchases are equal to 58 percent of the
following month's sales. The accounts...
The Cookie Shop's purchases are equal to 58 percent of the
following month's sales. The accounts payable period for purchases
is 30 days while all other expenditures are paid in the month they
are incurred. Assume each month has 30 days. The company has
compiled the following information.
April
May
June
Sales
$
9,100
$
9,400
$
9,800
Other expenses
3,125
3,175
3,425
Interest and taxes
580
590
610
What are the company's total cash disbursements for May?
Month
Budgeted Cash Sales
Budgeted Credit Sales
Budgeted Cash Purchases
Budgeted Credit Purchases
December
8,000
21,000...
Month
Budgeted Cash Sales
Budgeted Credit Sales
Budgeted Cash Purchases
Budgeted Credit Purchases
December
8,000
21,000
January
9,000
23,000
February
11,000
25,000
March
77,800
12,000
12,000
22,000
March
68,500
12,500
12,500
23,500
May
72,000
12,300
12,300
24,500
Wages & other operating expenses are estimated as
follows:
Month
Wages
Other Expenses
March
20,000
28,000
April
17,500
22,000
May
20,000
23,000
Newequipment purchased in February for $16,750 istobepaid
forin April.
New furniture purchased in March for $15,000 isto be paid...
The following data relate to the operations of Soper Company, a
wholesale distributor of consumer goods...
The following data relate to the operations of Soper Company, a
wholesale distributor of consumer goods as of March 31:
Cash
$
8,000
Accounts
receivable
20,000
Inventory
36,000
Building and equipment,
net
120,000
Accounts
payable
21,750
Common shares
150,000
Retained
earnings
12,250
a.
The gross margin is 25% of
sales.
b.
Actual and budgeted sales data
are as follows:
March (actual)
$
50,000
April
$
60,000
May
$
72,000
June
$
90,000
July
$
48,000
c.
Sales are 60% for...
The following data relate to the operations of Soper Company, a
wholesale distributor of consumer goods...
The following data relate to the operations of Soper Company, a
wholesale distributor of consumer goods as of March 31:
Cash
$
8,000
Accounts
receivable
20,000
Inventory
36,000
Building and equipment,
net
120,000
Accounts
payable
21,750
Common shares
150,000
Retained
earnings
12,250
a.
The gross margin is 25% of
sales.
b.
Actual and budgeted sales data
are as follows:
March (actual)
$
50,000
April
$
60,000
May
$
72,000
June
$
90,000
July
$
48,000
c.
Sales are 60% for...
Webster Company has the following
sales budget.
January
$200,000
February 
Webster Company has the following
sales budget.
January
$200,000
February
$240,000
March
$300,000
April
$360,000
Cost of
sales is 70% of sales. Sales are collected 40% in the month of sale
and 60% in the following month. Webster keeps inventory equal to
double the coming month's budgeted sales requirements. It pays for
purchases 80% in the month of purchase and 20% in the month after
purchase. Inventory at the beginning of January is
$190,000. Webster...
Company provided the following information related to its
inventory sales and purchases for December Year 1...
Company provided the following information related to its
inventory sales and purchases for December Year 1 and the first
quarter of Year 2:
Dec. Year 1
Jan. Year 2
Feb. Year 2
Mar. Year 2
(Actual)
(Budgeted)
(Budgeted)
(Budgeted)
Cost of goods sold
$80,000
$140,000
$170,000
$120,000
Desired ending inventory levels are 25% of the following month's
projected cost of goods sold. Budgeted purchases of inventory in
January Year 2 would be:
Select one:
a. $147,500
b. $180,000
c. $165,000...
The city of Charleston had the following sales of water for the
selected months of 2017:...
The city of Charleston had the following sales of water for the
selected months of 2017:
Month
Sales
February
$60,000
March
45,000
April
60,000
May
42,500
June
100,000
July
120,000
All sales are on credit. Historically, 60 percent is collected
in the month of sale, 30 percent during the first month following
the sale, and 10percent in the second month following the sale.
Water purchases by month are as follows:
Month
February
$60,000
March
40,000
April
45,000
May
59,750
June...
The Bear Corporation
will begin business operations on January 1, 2015. Below is the
anticipated SALES...
The Bear Corporation
will begin business operations on January 1, 2015. Below is the
anticipated SALES BUDGET (in units):
Jan.
__0,000
Feb.
__0,000
Mar.
__0,000
Apr.
__0,000
May
__0,000
To complete the unit
sales forecast, use the third, fourth, fifth and sixth digits of
your student identification number to fill in the
blanks. If any of these digits contains a
"0", use "3"
instead.
Example: If student ID number is
00607357. The sales forecast would
be:
January ...
The budget committee of
Designer Dresses,
an upscale women's clothing retailer, has assembled the
following data....
The budget committee of
Designer Dresses,
an upscale women's clothing retailer, has assembled the
following data. As the business manager, you must prepare the
budgeted income statements for May and June.
LOADING...
(Click the icon to view the information to prepare the
budget.)
Requirement
Prepare
Designer Dresses'
budgeted income statements for May and June. Show cost of goods
sold computations.
a.
Sales in April were
$50,000.
You forecast that monthly sales will increase
6%
in May and an additional
5%...