Missy Inc. is planning to purchase inventory for resale costing P90,000 in October, P70,000 in November, and P40,000 in December. The company pays 40% of its purchases in the month of purchase and 60% in the month following purchase. What would be budgeted cash disbursements for purchases of inventory in December?   P40,000 P70,000 P58,000 P20,000

Q: Air corporation has the following projected sales: P958,450.00 (October) P1,001,515.00 (November)…

A: Cash budget is one of the important budget being prepared in the business. It shows expected cash…

Q: month following sal

A: Given as,   Sales April $120,000 May $100,000 June $110,000

Q: orona Inc., a trading firm, has budgeted its activity for December according to the following…

A: Answer - $ 442,500 Cash disbursements are cash payments . Depreciation expense is not considered as…

Q: Marker Products, Inc. sells all of its products on credit. The company expects to collect 65%of…

A:

Q: The following data apply to the HASF Hardware Store and its 2011 budget      Forecast Sales Jan…

A: The company will prepare budget to have a goal to reach at the end of the specified period. The…

Q: The following data apply to the HASF Hardware Store and its 2011 budget      Forecast Sales Jan…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: 8) Avery is planning to purchase inventory for resale costing $100,000 in July. $150,000 in August…

A: 8) The company's aim will be to increase the profitability of the company. The profits can be…

Q: The following data apply to the HASF Hardware Store and its 2011 budget      Forecast Sales Jan…

A: The budget indicates the estimated figures of a particular statement assumed by the management by…

Q: C. The July 31 inventory balance is budgeted at P40,000. d. Operating expenses for July are budgeted…

A: Cash budget of the business shows all expected cash receipts and cash payments from the business and…

Q: Dane Inc. has forecast purchases on account to be $465,000 in March, 555,000 in April, $630,000 in…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Byanong prepares the cash budget for the month of November 2022. Estimates for the month include the…

A: Cost of goods sold = Sales x (1 - gross profit rate) = P250000 x (1 - 0.50) = P125,000

Q: Purchases in May were $65,000, while expected purchases for June and July are $80,000 and $95,000,…

A: June Purchases 80,000 x 65%        52,000 July Purchases 95,000 x 35%        33,250 Total…

Q: On October 1 of the current year, Molloy Corporation prepared a cash budget for October, November,…

A: October Cash Collected from Sales of August  $       4,000 Cash Collected from Sales of…

Q: 1. Selerum Company has P299,000 in accounts receivable on January 1, 2006. Budgeted sales for…

A: Solution: Introduction: A budget is an estimation or a financial plan for a defined period, usually…

Q: Dolittle and Dalley has $4,000 in purchases for January and $5,000 in purchases for February. It…

A: January month accounts receivable =   January sales ×  ( 100 % - percentage collected in the month…

Q: Cromwell Company is a distributor that sells products to retail companies. The company sells one…

A: Purchase during a month=sales in that month+closing inventory-opening inventory purchase price per…

Q: A company's past experience indicates that 60% of its credit sales are collected in the month of…

A: WORKING NOTE: Computation of cash collection of each month with the given data:- Month  January…

Q: Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and…

A: Budgeting is the process of estimating the financial data for a particular future period.

Q: Garnett Co. expects to purchase $180,000 of materials in July and $210,000 of materials in August.…

A: The cash budget is prepared by the management to estimate future cash availability of cash. It…

Q: nformation pertaining to Noskey Corporation’s sales revenue follows:     November 2018 (Actual)…

A: Budgeted cash collections is a component of the master budget.   It states the time within which the…

Q: Sarasota, Inc. provided the following information:     July   August   Projected sales   $234,000…

A: The cash disbursement is calculated as the total cash payment made during the given period. The…

Q: %24 Flint, Inc. provided the following information: July August Projected sales $236,000 $250,000…

A: Budgeted cash disbursements are the estimated total cash payments during a particular period. It is…

Q: Suppose Mallcentral sells 1,000 hardcover books per day at an average price of $30. Assume that…

A: Budgeted sales for the next (seven-day) week (in units) = No. of hardcover sales per day x no. of…

Q: Suppose Mallcentral sells 1,000 hardcover books per day at an average price of $30. Assume that…

A: Answer:   Option b.

Q: Fixed expenses are $15000 per month; all require cash Credit time period for purchases are 30 days…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

Q: CELEBI CORP. has the following sales forecast for the first four months of 20X9. January February…

A: You have posted multiple parts, so as per Bartleby policy only the first three parts are answered,…

Q: Suppose Mallcentral sells 1,000 hardcover books per day at an average price of $30. Assume that…

A: Total no. of hardcover books to be sold next week  = No. of days in week x sale of hardcover books…

Q: he company, a wholesaler, budgeted sales for the indicated months June Sales on account P1,800,000…

A: Solution 1: Budgeted sales for June = P2,040,000 Markup on cost = 25% Budgeted cost of goods sold =…

Q: Questions 24 and 25 are based on the following information: The PAD Company has the following…

A: Given information: Sales: July = P 84,000 August = P 90,000 September = P110,000 October = P 125,000…

Q: Sonia Sdn Bhd makes all of its purchases on credit; 50% are paid in the month of purchase, 30%…

A: Here in this question, we are required to calculate creditor at the end of March. Budget is a…

Q: The Willsey Merchandise Company has budgeted $45,000 in sales for the month of December. The…

A: The purchase Budget is prepared to estimate the requirements for the purchase during the period.…

Q: Bandeiras Company has budgeted its activity for December according to the following information:…

A: Solution:- Budgeted cash receipts for December as follows:- Introduction:- The budgeted cash…

Q: he company, a wholesaler, budgeted sales for the indicated months June                     July…

A: The cost of goods sold is Net Sales minus gross profit or it may be calculated as follows The cost…

Q: Reed Merchandising Company expects to purchase P90,000 of materials in July and P105,000 of…

A: The cash budget is prepared to record the cash receipts and payment made during the period.

Q: Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the month…

A: Cash collection in July: 35% of sales of July 45% of sales of June 20% of sales of May

Q: onth of sale, 30% in the month following sale, and 15% in the secon le. The remainder is…

A: Calculation of Cash Receipt for the month of April. In the month of April, the cash receipt pattern…

Q: For the month of October, a company predicts total cash collections to be P1 million. Also for…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: he Ohio Company has the following historical pattern on its credit sales: 70% collected in the month…

A: The problem relates to working capital management. We have the estimated billing for the period and…

Q: 1. Bucks Company desires an ending inventory of P62,000 and a beginning inventory of P55,000. Gross…

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Compton Company expects the following total sales:   Month Sales   March $30,000   April $20,000…

A: Given that: Credit Sales = 60% of Sales 30% of credit sales will be received in same month and 70%…

Q: Sophia prepared the following sales budget: Cash sales : February P80,000 March 100,000, April…

A: Sales and collection budget states one of the steps in the process of budgeting under which the…

Q: All operating expenses are paid in cash in the month incurred. If HDC expects to sell 24,500 units…

A: Solution:- Given, Budget information is available for the HD Sales Company (HDC) for January. IF HDC…

Q: Pacific Place has developed the following sales forecast for the following months.   Month…

A: Expected cash collections in June = Cash received from June Sales + Cash received for May Sales.

Q: Wichita Industries' sales are 10% for cash and 90% on credit. Credit sales are collected as follows:…

A: Cash sales for February = Total sales x 10% Credit sales for February = Total sales x 90%

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.