Solution-Calculate budgeted net income for january

Calculate budgeted net income for january

Assignment Help Managerial Accounting

Reference no: EM132530540

The following information was revealed to the January operating budget for TAWAKAL Corporation.

Budgeted sales for January $100,000 and February $200,000.
Collections for sales are 60% in the month of sale and 40% the next month.
Gross margin is 30% of sales.
Administrative costs are $10,000 each month
Beginning accounts receivable is $20,000.
Beginning inventory is $14,000.
Beginning accounts payable is $60,000. (All from inventory purchases.)
Purchases are paid in full the following month.
Desired ending inventory is 20% of next month's cost of goods sold (COGS).

Question 1: Calculate budgeted cash collections For January ?

Question 2: Calculate, budgeted accounts receivable At the end of January ?

Question 3: Calculate budgeted cost of goods sold For January ?

Question 4: Calculate budgeted net income For January ?

Question 5: Calculate budgeted cash payments for purchases For January ?

Question 6: Calculate budgeted ending inventory At the end of January

Reference no: EM132530540

Questions Cloud

What is the minimum number of units : What is the minimum number of units that Mr. Smith needs to sell per year (for one of his products Fresh Cream cakes) for him to make a profit?

Understanding of brain function : Does it make any sense to talk of "soul" anymore, given our current understanding of brain function?

How expectations may influence purpose of program evaluation : Think about potential stakeholder expectations and how those expectations may influence the purposes of program evaluation.

BAEC2204 Principles of Macroeconomics Assignment : BAEC2204 Principles of Macroeconomics Assignment Help and Solution, Higher college Of Technology - Assessment Writing Service

Calculate budgeted net income for january : Calculate, budgeted accounts receivable? Calculate budgeted cash payments for purchases For January ? Calculate budgeted ending inventory At the end of January

How would you explain the concept to a child : Complete this week's reading and online lesson about the graph of a polynomial function. Review the presentation on Polynomial Function End Behavior.

Which statement are true about revenue variance analysis : Gina is performing revenue variance analysis for her two-product company . Which of the statement are true about revenue variance analysis?

What policy or employee education program you will propose : Explore and outline what policy or employee education program you will propose to address a potential disease outbreak at work. As the Assistant Manager.

Evaluate the effectiveness and efficiency in executing steps : Evaluate the effectiveness and efficiency in executing Steps 1-4 and provide ways to improve in the future. 200-300 words summarizing your findings and EBP.

User Account

All Pages

Calculate budgeted net income for january

Reference no: EM132530540

Reference no: EM132530540

Questions Cloud

Reviews

Write a Review

Managerial Accounting Questions & Answers

The methods to approximate cost functions

Determine the desired profit for the year

How many units were in work in process at the end of august

State whether believe fantasy sports skills-based and chance

What factors should sido consider before choosing a supplier

Determine predetermined shop overhead rate per direct labor

Compute the cost of finished goods manufactured

Compute paisley company free cash flow for the current year

Revise the report assuming the company drops the economy

Show the schedule of cost of goods sold for nani fashions

Which cost would most likely be selected as a cost driver

Was the british pound selling at a discount or premium

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT