Preparation of merchandise purchases budgets

Assignment Help Financial Accounting

Reference no: EM131202595

Preparation of merchandise purchases budgets ( for 3 periods) . Formworks comapny prepares monthly budgets. The current budget plans for a September ending inventory of 15,000 units. company policy is to end each month with merchandise inventory equal to a specified percent of budgeted sales for the following month. Budgeted sales and merchandise purchases for the 3 most recent months follow. 1. prepare the merchadise budget for the months of July, August, and September. 2. compute the ratio of ending inventory to the next month's sales for each budget prepared in part 1. 3. how many units are budgeted for sale in October? Sales: July - 120,000, Aug - 210,000, Sept - 180,000. Purchases(units) July - 138,000, August - 204,000, September - 159,000.

Reference no: EM131202595

Questions Cloud

Present value issues using the present value tables : Present Value Issues Using the present value tables, solve the following: (Click here to access the time value of money tables to use with this problem.) Round your answers to two decimal places. Required: What is the present value today of $30,000 d..

Determine the speed and mass flow rate at the downstream : Determine the speed and the mass flow rate at the downstream section where the Mach number is 4.0. Explain your answer in explicit details, and list all steps leading up to your final answer.

Explain under what circumstances miranda right are triggered : Explain under what circumstances Miranda rights are triggered. Describe the changes in the Fifth and Sixth Amendments and the custodial protections that are provided under these.

About the sarbanes-oxley act : You likely have read about the Sarbanes-Oxley Act. Why do you suppose Congress passed this law? In your opinion, is the law providing any benefit for the average investor? Do you think if we have enough such laws, it will eventually be impossible ..

Preparation of merchandise purchases budgets : Preparation of merchandise purchases budgets ( for 3 periods) . Formworks comapny prepares monthly budgets. The current budget plans for a September ending inventory of 15,000 units. company policy is to end each month with merchandise inventory equa..

Respond thoughtfully to given prompts in a primary response : You accidentally received a message outlining your hospital's downsizing plan. - You see that your friend's position will be eliminated. - Respond thoughtfully to the above prompts in a primary response.

What were the firms budgeted collections : Quattro began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second m..

Estimate the daily heat loss through the wall : Assuming quasi steady conditions for which changes in energy storage within the wall may be neglected, estimate the daily heat loss through the wall if its total surface area is 200 m2.

How do you feel about illegal recreational drug use : What do you think might be motivating this 13 year old boy to use marijuana? Provide two different possible reasons. Would the reasons influence the type of drug he may be using? Explain. How do you feel about illegal recreational drug use? Explain.

User Account

All Pages