Powerdyne companys cost of goods sold is consistently 60

Assignment Help Accounting Basics
Reference no: EM13483974

Powerdyne Company's cost of goods sold is consistently 60% of sales.  The company plans to carry ending merchandise inventory each month equal to 40% of the next month's budgeted cost of goods sold.  All merchandise is purchased on credit, and 50% of the purchases made during a month is paid for in that month.  Another 35% is paid for during the first month after purchase, and the remaining 15% is paid for during the second month after purchase.                  

Expected dollar   sales are:
August (actual) $150,000.00
September (actual) $350,000.00
October (estimated) $200,000.00
November (estimated) $300,000.00

Use this information to determine October's expected cash payments for purchases.                












Reference no: EM13483974

Questions Cloud

Schrager company has two production departments cutting and : schrager company has two production departments cutting and assembly. july 1 inventories are raw materials 4200 work in
The boston culinary institute is evaluating a classroom : the boston culinary institute is evaluating a classroom remodeling project. the cost of the remodel will be 350000 and
Penguin productions is evaluating a film project the : penguin productions is evaluating a film project the president of penguin estimates that the film will cost 20000000 to
What was the cost per equivalent unit for conversion costs : parmentier company uses the weighted-average method in its process costing system. the molding department is the second
Powerdyne companys cost of goods sold is consistently 60 : powerdyne companys cost of goods sold is consistently 60 of sales.nbspnbspthe company plans to carry ending
The contract offer called for an immediate signing bonus of : ames hardy recently rejected a 20000000 five year contract with the vancouver seals hockey team. the contract offer
How you file the following items on form 1040 please be : how you file the following items on form 1040? please be specific and inclue any extra calculations
If charles expects to live for 20 years in retirement how : 1. k. herrmann has decided to set up a scholarship fund for students. she is willing to deposit 5000 in a trust fund at
Honeybutter inc manufactures a product that goes through : honeybutter inc. manufactures a product that goes through two departments prior to completion- the mixing department

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the net monetary advantage

What is the net monetary advantage (disadvantage) of processing Product X beyond the split-off point? What is the net monetary advantage (disadvantage) of processing Product Y beyond the split-off point?

  Develop five demographic questions to measure gender age

develop five demographic questions to measure gender age years of experience level of education and ethnicity.

  How much total interest will amos pay on this payment plan

Amos could borrow $100,000 from its bank to finance the purchase at an annual rate of 8%. Should Amos borrow from the bank or use the manufacturer's payment plan to pay for the equipment?

  End of the accounting period

When standard manufacturing costs are recorded in the accounts and the cost variances are immaterial at the end of the accounting period, the cost variances should be:

  Determining diluted earnings per share

Evaluate the number of shares to be employed in determining diluted earnings per share for 2013.

  Materials price variance and materials quantity variance

What cost for wood should been incurred to make 4,000 chopping blocks? How much greater or less is this than the cost that was incurred? Break down the difference computed in (1) above into a materials price variance and a materials quantity varian..

  Statement regarding fixed and variable costs

Which of the following statements is true regarding Fixed and Variable Costs?:

  Shares of stock and stock redemption

Kingbird Corporation (E & P of $800,000) has 1,000 shares of stock outstanding. That stock is held by Amata (550 shares) and Esteban (450 shares), who are unrelated individuals. Kingbird redeems 200 of Amata's shares for $1,000 per share. Amata pa..

  Trends and items of concern for the directors of fedex

Prepare an interpretative write up of your financial analysis, explaining trends and items of concern for the directors of FedEx. For each ratio, you should define the ratio, inform the directors about the change in the ratio from one year to the ..

  Occurrance of future taxable amount

At the December 31, 2010 balance sheet date, Unruh Corporation reports an accrued receivable for financial reporting purposes but not for tax purposes. When this asset is recovered in 2011, a future taxable amount will occur and

  Problem on interest payable annually

Novastar Corporation issued 2,000 of its 1,000, 10% ten-year bonds dated July 1, Year 1, at a time when the market paid 9% for bonds of similar risk. Interest is payable annually.

  Journal entry to accrue the monthly sales salaries

Prepare the general journal entry to accrue the monthly sales salaries expense at January 31. The employer payroll taxes for Metro Express include FICA taxes, federal unemployment taxes of 0.8% of the first $7,000 paid each employee, and state unem..

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