BSE Problem Set 2 Solution

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Her predicted sales are as follows Jan Feb Mar April May June July   300 350 350 450 500 550 600               The candles cost $5 to make, and sell for $12.       Roxy buys in the raw materials the month before she sells the candles. She pays a deposit of 20% when she orders and the rest the following month   At the start of the year she owed $1,000 to supplier for the previous month       Her customers pay 75% in the month of purchase and 25% the following month       She pays rent of $1,000 on the shop in cash during the month before it is due        She pays cash wages of $500 a month during the month       Her other running costs are $900 a month, but this includes $200 for depreciation of the candle making machine   In month 4 in the forthcoming year she intends to invest $5,000 on a new machine       At the start of the year she has a Bank balance of $3,500 and is owed $600 from sales from the previous year, all of which will be collected in month 1…

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Sara is considering whether to open a gadgets shop. She provided you, as a consultant, the following information: Sales of $60,000 and $72,000 are expected for July and August, respectively. All goods are sold on account. The collection pattern for Accounts Receivable is 80 percent in the month of sale and 20 percent in the month following the sale. Purchases of $40,000 and $54,000 are expected for July and August. The payment pattern for purchases is 70 percent in the month of purchase, 30 percent in the month following the purchase. Other monthly expenses are $8,000, which includes $2000 of depreciation. All operating expenses are paid in the month of their incurrence. $2,000 of cash is available on August 1, 2021. Required: Prepare the cash collection budget for the two months ending August 31, 2021 Prepare the cash budget for the two months ending August 31, 2021

Write your complete solutions and conclusions. Mabuhay Corporation manufactures special types of furniture and fixtures for the use of luxury hotels in the country. It buys raw materials every 5th day of the month for ₱ 1,000,000. The suppliers of raw materials provide only 30-day credit terms to Mabuhay Corporation. It takes 90 days to convert the raw materials into finished products. Once the products are finished, Mabuhay sells them to luxury hotels on account. The buyers are given 30 days to settle their account. What is the conversion cycle of Mabuhay Corporation? Use this formula: Unit Product Cost = fixed cost + variable cost/ expected unit sales Mark Up Price = Unit Product Cost/ Desired Return on Sale

How many units does Eddie the Entrepreneur need to sell to breakeven in a day? He rents a kiosk in the mall for $300 a day.  He creates artworks that cost him $47 each in materials and sells them for $100 each.  He pays one of his friends $10 an hour to man the booth and he has to pay mall management 3% of his sales.  The mall is open daily from 10 am to 8 pm.

Janice Huffman has decided to start Rundle Cleaning, a residential housecleaning service company. She is able to rent cleaning equipment at a cost of $760 per month. Labor costs are expected to be $90 per house cleaned and supplies are expected to cost $6 per house. Required a. Determine the total expected cost of equipment rental and the average expected cost of equipment rental per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of equipment a fixed or a variable cost? b. Determine the total expected cost of labor and the average expected cost of labor per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of labor a fixed or a variable cost? c. Determine the total expected cost of supplies and the average expected cost of supplies per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of supplies a fixed or a variable cost? d.…

Janice Huffman has decided to start Rundle Cleaning, a residential housecleaning service company. She is able to rent cleaning equipment at a cost of $760 per month. Labor costs are expected to be $90 per house cleaned and supplies are expected to cost $6 per house. Required a. Determine the total expected cost of equipment rental and the average expected cost of equipment rental per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of equipment a fixed or a variable cost? b. Determine the total expected cost of labor and the average expected cost of labor per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of labor a fixed or a variable cost? c. Determine the total expected cost of supplies and the average expected cost of supplies per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of supplies a fixed or a variable cost? d.…

Problem Solving: Lila Battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who works in her brother’s hardware store, is in charge of purchasing. She estimates that it costs $10 every time an order is placed. This cost includes her wages, the cost of the forms used in placing the order, and so on. Furthermore, she estimates that the cost of carrying one screw in inventory for a year is one-half of 1 cent. Assume that the demand is constant throughout the year. a. How many number 6 screws should Lila order at a time if she wishes to minimize total inventory cost? b. How many orders per year would be placed? What would the annual ordering cost be? c. What would the average inventory be? What would the annual holding cost be?

Patricia's Quilt Shoppe sells homemade Amish quilts. Patricia buys the quilts from local Amish artisans for $220 each, and her shop sells them for $370 each. She also pays a sales commission of 4% of sales revenue to her sales staff. Patricia leases her country-style shop for $800 per month and pays $1,600 per month in payroll costs in addition to the sales commissions. Patricia sold 95 quilts in February. Prepare Patricia's traditional income statement and contribution margin income statement for the month. Prepare the traditional income statement for the month. Patricia's Quilt Shoppe Income Statement For the Month Ended February 28 Less: Less: A

Jill’s Custom Bags manufacturers and sells 12,000 customer designer bags per year, each requiring three yards of a specially manufactured fabric. These bags are sold evenly throughout the year. The materials for these bags require two months’ lead time. Jill desires to maintain a safety stock of sufficient material to meet one month’s demand. What is Jill’s reorder point?a. 3,000b. 6,000c. 9,000d. 12,000

During Christmas in Ghana the demand for children dresses at Takoradi mall is 500 units per month. Takoradi mall incurs a fixed order placement, transportation, and receiving cost of GHs 4,000 each time an order is placed. Each cycle costs GHS500 and the retailer has a holding cost of 20 percent. Calculate the number of dresses that the store manager should order in each replenishment lot? Discuss in detail the implications of this order on carrying and ordering cost

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Appendix: EPR Rachelle Razer has taken a job as production superintendent in a plant that makes, among other products, jewelry cases. She is trying to determine how many cases to produce on each production run (EPR). Discussions reveal that last year the plant made 14,100 such cases, and this level of demand is expected for the coming year. The setup cost of each run is $400, and the cost of carrying a case in inventory for a year is estimated at $2.50. a. Calculate the EPR for jewelry cases and the total cost associated with it. Note: Round your answers to the nearest whole unit. ERP 2,124 units Total cost $ 5,312 x b. Recalculate the EPR and total cost if the annual cost of carrying a case in inventory is $10 and the setup cost is $100. Note: Round your answer to the nearest whole unit. ERP 531 units Total cost $ 531,000 x

Betta Jets, a toy wholesaler, is hoping to expand into manufacturing its own products. The business owners have provided you with the following information:   All sales are on credit. The company collects 70% in the month following the sale and 30% two months following the sale. All purchases of stock are paid for one month after the purchase. Equipment costing $250,000 is expected to be acquired and paid for in July. The selling and distribution expenses are $48 000 each month. Administrative expenses are $42 000 per month. This includes $5 000 of depreciation expense. Selling Expenses and Administrative Expenses are paid in the month they are incurred.     The cash balance on 1 July 2022 is $28 000. The following sales and purchases data in 2022 have been compiled for the preparation of the budget:     April May June July   $ $ $ $ Purchases 300 000 360 000 340 000 400 000 Sales 800 000 860 000 840 000 880 000   REQUIRED: Prepare…

Ronald’s Pizza produces and sells the secret recipe pizzas. Each pizza sells for RM20.00. During December, Ronald’s sold 25,000 pizzas (the average amount sold each month). The restaurant employs cooks, servers and one supervisor (the owner, Black). All cooks and servers are part time employees. Ronald’s maintain a pool of part time employees so that the number of employees scheduled can be adjusted to the changes in demand. Demand varies on a weekly as well as a monthly basis. A Janitor is hired to clean the building on a weekly basis. The building is leased from a local real estate company. The building has no seating capabilities. All orders are filled on a drive-through basis. The supervisor schedules work, opens the building, counts the cash, advertises, and responsible for hiring and firing. The following costs were incurred during December. Cost Amount Cost Amount Flour        2,500 Utilities       1,500 Meat            950 Depreciation:   Seafood            500 Cooking…

Bridget Cheungis getting ready to open a small restaurant. She is on a tight budget and must choose between the following​ long-   Plan​ A: Pay $0.07 per minute of​ long-distance calling. Plan​ B: Pay a fixed monthly fee of $14 for up to 280 ​long-distance minutes and $0.05 per minute thereafter​ (if she uses fewer than 280 minutes in any​ month, she still pays $14 for the​ month). Plan​ C: Pay a fixed monthly fee of $23 for up to 440 ​long-distance minutes and $0.04 per minute thereafter​ (if she uses fewer than 440 ​minutes, she still pays $23 for the​ month). 1. Match the graphs to the total monthly costs of the three plans for different levels of monthly​ long-distance calling. 2. Which plan should Cheung choose if she expects to make 100 minutes of​ long-distance calls? 280 ​minutes? 480 ​minutes? Requirement 1. Match the graphs to the total monthly costs of the three plans for different levels of monthly​ long-distance calling.   Before we…

Megan's Bridal Shoppe is a bridal shop that offers wedding gowns. Each outfit sells for $1,000 on average, with variable expenses of $400 and fixed costs of $90,000.  When 200 gowns are sold, what is the Bridal Shoppe's operational income?

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The Katie's Card Shop sells calendars with different Colonial pictures shown for each month. The once-a- year order for each year's calendar arrives in September. From past experience the September to March demand for the calendars can be approximated by a normal distribution with mean 400 and standard deviation 100. The calendars cost $2 each, and Katie sells them for $3 each. a) If Katie throws out all unsold calendars at the end of March (i.e., salvage value is zero), how many calendars should be ordered? f Katie reduces the calendar price to $ 0.5 at the end of March and can sell all surplus calendars at this price, how many calendars should be ordered? show me how to solve this step by step in excel you are talking to a stupid person I need you to tell me in Cell A1 what to enter and so forth

Helen Bowers, owner of Helen’s Fashion Designs, is planning to request a line of credit from her bank. She has prepared the following sales forecasts for parts of 2011 and 2012:   Sales Labor and raw material May (2011) 200000 102000 June 200000 102000 July 380000 138000 August 560000 894000 September 740000 318000 October 380000 246000 November 380000 174000 December 110000 102000 January(2012) 200000 NA     Estimates obtained from the credit and collection department are as follows: collections within the month of sale, 10%; collections during the month following the sale, 75%; collections the second month following the sale, 15%. Payments for labor and raw materials are typically made during the month following the one in which these costs were incurred. Total costs for labor and raw materials are estimated for each month as shown in the table.   General and administrative salaries will amount to…

Lia ITZY has determined that the annual demand for number 6 screws is 100,000 screws. Lia, who works in her brother’s hardware store, is in charge of purchasing. She estimates that it costs $10 every time an order is placed. This cost includes her wages, the cost of the forms used in placing the order, and so on. Furthermore, she estimates that the cost of carrying one screw in inventory for a year is one-half of 1 cent. Assume that the demand is constant throughout the year. QUESTION: What would the average inventory be? What would the annual holding cost be?

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Karina owns a boutique where she sells designer dresses. She purchases the dresses for $285 each and has a rate of markup of 27.00% on selling price. At the end of every season, she has a sale and marks down the dresses to sell them at the break-even price. If the overhead expenses are 10.00% of the regular selling price, calculate the rate of markdown on these dresses.     Shirts were purchased for $13.50 each and were marked up by $19.75. During Christmas, they were discounted by $6.85 per shirt.Round to two decimal places. a. What is the rate of markdown?   b. What is the reduced selling price per shirt?

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