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- Company C Industries has sales of $6,100, cost of goods sold of $4,100, accounts receivable of $800, and inventory of $600. Approximately how many days does it take the firm to collect payments on sales?6. ABC Co. owns a branch. At the end of the month, the balance of the Allowance on overvaluation is P95,000. The branch reported the following: beg. inventories – P15,000; ending inventories – P100,000; shipments from Home Office P555,000; Sales – P800,000; Expenses – P200,000. What is the percentage of profit on cost that the Home office uses to bill the branch? *Dexter, Incorporated, had a cost of goods sold of $43,921. At the end of the year, the accounts payable balance was $7,943. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days' sales in payables 66.00 days
- Pharoah Inc. had sales of $2,320,000 for the first quarter of 2022 (it sold 232,000 units). In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable V $841,000 86,000 117,000 $ Fixed $488,000 Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.) $ 47,000 144,000 Total PHAROAH INC. CVP Income Statement $ $ Per Unit Percent of Sales % % %A store had monthly utility expense of $12,378. Determine the share for Department 1 (rounded to the nearest dollar), based on floor space for each department as follows: Dept 1: 23,000 sq ft Dept 2: 37,000 sq ft Dept 3: 27,000 sq ft Dept 4: 14,000 sq ftUsing the following information: a. Beginning cash balance on March 1, $80,00. b. Cash receipts from sales, $306,000. c. Cash payments for direct materials, $135,000. d. Cash payments for direct labor, $73,000. e. Cash payments for overhead, $41,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $110 (1% of beginning loan balance of $11,000) h. Cash repayment of loan, $11,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments Loan activity Loan balance, end of month D-pptx A Presentation3.pptx 1 Jarvis CST 141.00...pptx A Musical Theatre Hi...ppt re to search
- Heritage, Inc., had a cost of goods sold of $68,314. At the end of the year, the accounts payable balance was $15,486. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)Gros s marging The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820.Using the following information: a. Beginning cash balance on March 1, $78,000. b. Cash receipts from sales, $301,000. c. Cash payments for direct materials, $131,000. d. Cash payments for direct labor, $77,000. e. Cash payments for overhead, $39,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $100 (1% of beginning loan balance of $10,000) h. Cash repayment of loan, $10,000. Prepare a cash budget for March for Gado Company.
- Using the following information: a. Beginning cash balance on March 1, $81,000. b. Cash receipts from sales, $309,000. c. Cash payments for direct materials, $134,000. d. Cash payments for direct labor, $73,000. e. Cash payments for overhead, $43,000. f. Cash payments for sales commissions, $8,000 g. Cash payments for interest, $130 (1% of beginning loan balance of $13,000) h. Cash repayment of loan, $13,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Beginning cash balance Add: Cash receipts from sales Total cash available Less: Cash payments for 81,000 309,000 390,000 Direct materials 134,000 Direct labor 73,000 Overhead 43,000 Sales commissions 8,000 Interest on loan 130 Total cash payments 258,130 Ending cash balance $ 131,870 Loan activity Beginning cash balance 13,000 Repayment of Bank loan 118,870 Loan balance, end of month %24Dexter, Incorporated, had a cost of goods sold of $63,382. At the end of the year, the accounts payable balance was $12,889. How long, on average, did it take the company to pay off its suppliers during the year? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16Using the following information: a. Beginning cash balance on March 1, $82,000. b. Cash receipts from sales, $308,000. c. Cash payments for direct materials, $132,000. d. Cash payments for direct labor, $76,000. e. Cash payments for overhead, $40,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $200 (1% of beginning loan balance of $20,000) h. Cash repayment of loan, $20,000. Prepare a cash budget for March for Gado Company. Total cash available Less: Cash payments for Total cash payments Preliminary cash balance Loan activity GADO COMPANY Cash Budget March 0 0 0