1) Jordan Corp has the following sales data forecast for the next year Q1 Budgeted sales in units 4,960.00 Q2 Budgeted sales in units 6,200.00 Q3 Budgeted sales in units 7,440.00 Q4 Budgeted sales in units 6,820.00 Selling price/ per unit 12.40 Sales collection in current quarter 65% Sales collection in next quarter 30% Uncollectible 5% Last year outstanding A/R $49,910.00

1) Jordan Corp has the following sales data forecast for the next year Q1 Budgeted sales in units 4,960.00 Q2 Budgeted sales in units 6,200.00 Q3 Budgeted sales in units 7,440.00 Q4 Budgeted sales in units 6,820.00 Selling price/ per unit 12.40 Sales collection in current quarter 65% Sales collection in next quarter 30% Uncollectible 5% Last year outstanding A/R $49,910.00

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...

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(J) please answer ASap... Question 1 The following table presents selected information for Superior Flooring's monthly production budgets for the coming year. Superior's inventory policy is to have ending inventory equal to 10% of the next month's sales. What is the beginning inventory in June? A. 350 B. 310 C. 250 D. 340 Question 2 Which of the following statements is true? A. A budget reconciliation report shows the difference between actual profit and budgeted profit and does not show the other variances. B. Activity-based costing is not used to evaluate customer profitability. C. Sales quantity (budgeted sales volume vs. actual sales volume) is the only item which differs between the master budget and the flexible budget. D. Comparing the flexible budget to the as-if budget isolates a change in input price (e.g. budgeted input price vs. actual input price). Question 3 Which of the following is not a benefit of budgeting? A. It reduces the need for analysis with regard to company…