Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Company A, a merchandising firm, has budgeted sales for the third quarter of the year:

July: 80,000
August: 90,000
September:70,000

Cost of goods sold equals 65% of sales. The company wants to maintain a monthly ending inventory equal to 130% of the cost of goods sold for the following month. The inventory on June 30th is less than this ideal since it is only 65,000. The company is now preparing a merchandise budget.

find out the following:

What are the budgeted purchases for July?

What is the desired inventory for September?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M945936

Have any Question? 


Related Questions in Accounting Basics

What is ubit and what are some exceptions to the rule why

What is UBIT and what are some exceptions to the rule? Why do you think these exceptions exist? What is the significance of the "regularly carried on" test as it relates to UBIT? Required: Half to one page only 2 referen ...

Accounting assignmentgrant film products wishes to expand

Accounting Assignment Grant Film Products wishes to expand and has borrowed $100,000. As a condition for making this loan, the bank requires that the business maintain a current ratio of at least 1.50. Business has been ...

Audit report modificationsthe final paper will be based on

Audit Report Modifications The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 237-244 in your text. Write, in outline format but in complete sentences, a 6 to 10 page audit ...

Assignment entries65 mackay industries limited mil is a

Assignment: Entries 65 MacKay Industries Limited (MIL) is a Canadian company that manufactures leather fur- niture. Sales in 20X3 were $265 million, with strong exports to the United States. MIL is the leading Canadian m ...

Please give full info for resources used and cite where

Please give full info for resources used and cite where appropriate in APA style. Show all calculations to any work necessary. Answer both questions. As a Financial Accountant, determine the best type of income statement ...

Question 1the accounts receivable account has total debit

Question 1 The Accounts Receivable account has total debit postings of $1,900 and credit postings of $1,100. The balance of the account is a/an A. $800 debit. B. $800 credit. C. $2,600 credit. D. $2,600 debit. Question 2 ...

Part 1true false questionsselect the correct answer1 a

Part 1: True / False Questions Select the correct answer 1. A single plant-wide overhead rate generally provides more accurate product costs than multiple departmental overhead rates. True False 2. The use of a predeterm ...

Problem 1the following information relates to billy bobs

Problem 1 "The following information relates to Billy Bob's Donuts defined benefit pension plan during the current reporting year (All the amounts are in millions): Plan Assets at the beginning of the year $350 Expected ...

Assessment-bullassessment instructionspreparationfor this

Assessment- • Assessment Instructions Preparation For this problem, you will need to select a publicly traded company. Once you have selected a publicly traded company, obtain Form 10-K for the company for the most curre ...

Discussionaccounting irregularities please respond to the

Discussion "Accounting Irregularities" Please respond to the following: • Imagine that you were auditing accounts receivable balances to confirm sales and found significant discrepancies between the recorded account bala ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen