subject
Business, 23.06.2020 18:01 jonystroyer1020

Badlands Inc. manufactures a household fan that sells for $40 per unit. All sales are on account, with 40 percent of sales collected in the month of sale and 60 percent collected in the following month. The data that follow were extracted from the company’s accounting records. Badlands maintains a minimum cash balance of $35,000. Total payments in January 20x1 are budgeted at $210,000.A schedule of cash collections for January and February of 20x1 revealed the following receipts for the period: Cash Receipts January Cash Receipts FebruaryFrom December 31 accounts receivable $126,000 From January sales 92,000 $145,000From February sales 76,000March 20x1 sales are expected to total 11,500 units. Finished-goods inventories are maintained at 20 percent of the following month?s sales. The December 31, 20x0, balance sheet revealed the following selected figures: cash, $24,100; accounts receivable, $126,000; and finished goods, $24,750.Required:1. Determine the number of units that Badlands sold in December 20x0.2. Compute the sales revenue for March 20x1.3. Compute the total sales revenue to be reported on Badlands? budgeted income statement for the first quarter of 20x1.4. Determine the accounts receivable balance to be reported on the March 31, 20x1, budgeted balance sheet.5. Calculate the number of units in the December 31, 20x0, finished-goods inventory.6. Calculate the number of units of finished goods to be manufactured in January 20x1.7. Calculate the financing required in January, if any, to maintain the firm?s minimum cash balance.1. December sales units2. March sales revenue 3. First quarter sales revenue 4. March 31 accounts receivable balance 5. December 31 finished-goods inventory units6. Finished goods to be manufactured in January units7. Financing required in January

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 13:30, babygirl091502
On january 1, 2018, johnstone leased an office building. terms of the lease require johnstone to make 15 annual lease payments of $134,000 beginning on january 1, 2018. a 10% interest rate is implicit in the lease agreement. at what amount should johnstone record the lease liability on january 1, 2018, before any lease payments are made?
Answers: 3
image
Business, 22.06.2019 03:00, AllyJungkookie
In the supply-and-demand schedule shown above, at the lowest price of $50, producers supply music players and consumers demand music players.
Answers: 2
image
Business, 22.06.2019 14:20, Champion9701
For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?
Answers: 3
image
Business, 22.06.2019 16:10, SmokeyRN
Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.
Answers: 2
You know the right answer?
Badlands Inc. manufactures a household fan that sells for $40 per unit. All sales are on account, wi...

Questions in other subjects:

Konu
Mathematics, 05.03.2021 19:20
Konu
World Languages, 05.03.2021 19:20