Fantastic futons manufactures futons

Assignment Help Financial Accounting
Reference no: EM13753458

Fantastic Futons manufactures futons. The estimated number of futon sales for the first three months of 2014 are as follows:

January 40,000

February 50,000

March 60,000

Finished goods inventory at the end of 2013 was 10,000 units. On average, 25% of the futons to be sold in the next month are produced and kept as ending balance in finished goods inventory. The planned selling price is $150 per unit. What would be the slaes budget for March of Fantastic Futons?

Reference no: EM13753458

Questions Cloud

Amount credited to flaxs capital account : Chase and Hatch are partners and share equally in income or loss. Chase's current capital balance is $186,000 and Hatch's is $162,500. Chase and Hatch agree to accept Flax with a 30% interest in the partnership. Flax invests $166,000 in the partnersh..
Compute diluted earnings per share : Howat Corporation earned $265,500 during a period when it had an average of 111,200 shares of common stock outstanding. The common stock sold at an average market price of $18 per share during the period. Also outstanding were 36,400 warrants that co..
Partnership with capital contributions : Shelby and Mortonson formed a partnership with capital contributions of $230,000 and $330,000, respectively. Their partnership agreement calls for Shelby to receive a $53,000 per year salary. Also, each partner is to receive an interest allowance equ..
What is loyal enterprises operating income : Loyal Enterprises has sales revenue of $125,000 for 2014. Its product sells for $10 and has a 25% contribution margin. Fixed costs are $26,000. What is Loyal Enterprises operating income for 2014?
Fantastic futons manufactures futons : Fantastic Futons manufactures futons. The estimated number of futon sales for the first three months of 2014 are as follows: Finished goods inventory at the end of 2013 was 10,000 units. On average, 25% of the futons to be sold in the next month are ..
Identify and describe the practical issues : Identify and describe the practical issues that arise when conducting an evaluation of a product
Find the contribution margin ratio for consumer products : Using the contribution margin approach, find the contribution margin ratio for Consumer Products if the selling price per unit is $15, the variable cost per unit is $7.50, and the fixed costs are $8,000.
None of the bonds was converted or redeemed : In 2013, Chirac Enterprises issued, at par, 75 $1,070, 7% bonds, each convertible into 110 shares of common stock. Chirac had revenues of $20,900 and expenses other than interest and taxes of $9,450 for 2014. Compute diluted earnings per share for 20..
How strategies to end world war ii lead to outbreak cold war : How did the strategies to end World War II lead to the outbreak of the Cold War? How did the Cold War shape developments in Europe, China, Viet Nam, and Korea?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Decision of inclusion of transactions in cash flow statement

Decision of inclusion of transactions in the cash flow statement - Should this transaction be included in the calculations on the cash flow statement or  shown in the note and desscribe your answer

  Review the 6 principles in the aicpas cpc

Prepare a recommended list of at least 7 essential elements that must be included in your organization's code of conduct based on your analysis and assessment.

  A debit to unearned rent revenue

On December 16, 2012, Keen Company received $5,400 from Smith Company for rent on an office building owned by Keen. The $1,800 covers the period December 16, 2012, through February 15, 2013. If Keen Company credited Unearned Rent to record the $5,400..

  Operating events and the decision and management events

Dinners-Done-Right is a very successful dinner service that delivers healthy dinners to customers in a medium-sized city. D-D-R has four locations, one on each side of town (north, south, east, and west.) In order to provide quick delivery (30 minute..

  Revenue and net income

What was the corporation's net sales, cost of goods sold, and gross profit? What was the corporate tax rate? ** This should be an item in the notes to the financial statement. Required disclosure usually explains the Federal Statutory rate and a reco..

  Purchaser of registered securities

Under Section 11 of the Securities Act of 1933 and Section 10(b), Rule 10b-5, of the Securities Exchange Act of 1934, a CPA may be sued by a purchaser of registered securities. The following items relate to what a plaintiff who purchased securities m..

  Design a monitoring activity

What are monitoring activities - design a monitoring activity that would achieve this assurance objective.

  Hospital intends to purchase adjoining property

The cost of capital will remain at 15% and the hospital intends to purchase adjoining property in 2012 as the location for the proposed cancer center. Depreciation expense will increase by $5,000 in each of the next five years.

  Compute the cm ratio and the break-even point in balls

Compute the CM ratio and the break-even point in balls, and (b) the degree of operatingleverage at last years sales level and what will be the new CM ratio and break-even point in balls

  Record the entries for the issue of the bonds

May 1, 2006, XYZ, Co. issued $250,000 in 8%, 10 year bonds at a price of 94. Bonds pay interest on May 1 and Nov 1. Record the entries for the issue of the bonds, year-end accruals on Dec 31. Record the interest/amortization on May 1, 2007.

  Calculate the ytm and ytc under those conditions

Calculate the YTM and YTC under those conditions, and explain which you believe you would earn and why and what would be your estimate for the cost of new common equity?

  Illustrate what is the amount and character of sunshine

Sunshine bought furniture for 90,000 several years ago and had claimed $25,000 of depreciation expense on the machine. Illustrate what is the amount and character of Sunshine's gain or loss?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd