The company, a wholesaler, budgeted sales for the indicated months June                     July                       August Sales on account                           P1,800,000       P1,920,000       P2,010,000 Cash sales                                            240.000             250.000             260.000 Total sales                                       P2,010,000       P2,170,000       P2,300,000 All merchandise is marked up to sell at its invoice cost plus 25%. Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold. The cost of goods sold for the month of June is anticipated to be

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Q: How much is the cost of goods sold on January 8? 2.

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Q: month following sal

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Q: 77,200 August September 77,300 October 77,600 All purchases are paid for as follows: 40% in the…

A:

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Q: Avril Company makes collections on sales according to the following schedule: 30% in the month of…

A: Cash collection in March from January sales = January sales  x 11% = $150,000 x 11% = $16500

Q: La Yarrs United Group makes collections on sales according to the following schedule: 50% in month…

A: Budgeted cash collections in June = June sales x 50% + May sales x 47% + April sales x 3%

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

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

A: The correct answer for the above question is given in the following steps for your reference.

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A: A cash budget plan is a spending plan or plan of expected money receipts and payment during the time…

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A: Cash required for payment in month = Current month purchase x 35% + Previous month purchase x 65%

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

A: Answer 1) Calculation of Total estimated percentage of collections Total estimated percentage of…

Q: Salinger Inc., budgeted sales of 30,000 units of its product in January, 2016. Budgeted inventory…

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A: Collections during November will include: 50% of sales of October 50% of sales of November

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Q: Alpha CD has budgeted its activity for December according to the following information: 1.   Sales…

A:

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A: All amount are in dollar.

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

A: Cash budget is a forecast of a company's cash flows over a predetermined amount of time which might…

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A: given that, 10% in the month of sale  50% in the month following the sale 40% in the second month…

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Q: credit sales: 70% collected in the month of sale; 15% collected in the 1st month after the sale; 10%…

A: The budget is prepared to estimate the requirements for the future period.

Q: Summit Company has budgeted purchases of merchandise inventory of $457,500 in January and $533,750…

A: Schedule of cash payments for purchases: This Schedule is prepared for the estimation of the 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…

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Q: 7-34 Purchases Budget Leimersheim GmbH has adopted the following policies regarding merchandise…

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

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Q: A merchandising company's sales budget indicates the following sales: January: $25,000; February:…

A: Formula: Credit sales = Total sales x Credit sales percentage.

Q: Мay 254,000 233,000 June Cost of goods sold is budgeted at 40% of sales, and the inventory at the…

A: This question deals with the concept of budget. Budget is prepared by the organization with the view…

Q: 4. Al Maha Company makes collections on sales according to the following schedule: 10% in the month…

A: Particulars Jan Feb March 10% sale collections 8000 10000 12000 50% sale collections in next…

Q: Staff Inc. sells tire rims. Its sales budget for the nine months ended September 30, 2018​, and…

A: Ist quarter 2nd quarter 3rd quarter Sales 125000 175000 150000 Cost of Goods Sold 50000 70000…