GENERAL DIRECTIONS: Write only the amount needed. Do not write Peso sign or P to indicate peso value. Use the PARENTHESES symbol () to denote negative values. Use comma (if necessary) when writing values. Round off your final answer to the nearest whole number. Problem Set 1. Sales BudgetSales BudgetMary's Coffee Shop has to compute for the sales budget ofthe operation from the January to March 2019. The shopoffers flavored coffee: cappuccino, mocha, latte and brewedcoffee which are sold at P75.00, P72.00, P80.00 and P60.00per serving (in cups) respectively. The following data showsanticipated volume of sales (in cups) during the first quarter.ItemJanuaryFebruaryCappuccino15020010012080175MochaLatteBrewed110150March195901151801. Compute the sales budget of cappuccino for the the2. Compute themonth of January.3. Compute the selee budget of fatte for the month of January.Compute the sales budget of browed for the month of January.✔Compute the total sales budget for the month of Januarypute the sales budget of cappuccino for the month of February.7.2. Compute the sales budget ofmocha for the month of february.8. Compute the sales budget of latte for the month of February9. Compute the sales budget of brewed for the month of February.10. Compute the total sales budget for the month of February.11. Compute the sales budget of cappuccino for the month of March.12. Compute the sales budget of mocha for the month of March.13. Compute the sales budget of latte for the month of March.14. Compute the sales budget of brewed for the month of March.15. Compute the total sales budget for the month of March.16. Compute the total sales budget of cappuccino from January to March.17. Compute the total sales budget of mocha from January to March.18. Compute the total sales budget of latte from January to March.19. Compute the total sales budget of brewed from January to March.20. Compute the total sales budget of the Mary's Coffee Shop operation from January toMarch.21. Which month has the highest sales budget?22. What flavored coffee has the highest sales budget from January to March?23. What flavored coffee has the lowest sales budget from January to March?

Sales Budget is prepared by the Business Entity to estimate its sales revenue to be earned in the…

Answered: 10. Compute the total sales budget for…

10. Compute the total sales budget for the month of February. 11. Compute the sales budget of cappuccino for the month of March. 12. Compute the sales budget of mocha for the month of March.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter22: Budgeting

Section: Chapter Questions

Problem 2PA: Sales, production, direct materials purchases, and direct labor cost budgets The budget director of...

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G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following: (i) Extracts from the sales and purchases budgets are as follows: Month Novemer 2020- March 2021 Cash Sales Sales on Account Purchases November $151,100 $480,000 $390,000 December $145,500 $600,000 $360,000 January $159,025 $700,000 $505,000 February $169,350 $650,000 $400,000 March $176,200 $800,000 $518,000 (ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in the second month following the sale (iii) Expected purchases include cash purchases of $25,000 in January and $18,000 in March.All…
G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following: (i) Extracts from the sales and purchases budgets are as follows: Month Novemer 2020- March 2021 Cash Sales Sales on Account Purchases November $151,100 $480,000 $390,000 December $145,500 $600,000 $360,000 January $159,025 $700,000 $505,000 February $169,350 $650,000 $400,000 March $176,200 $800,000 $518,000 (ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in the second month following the sale G & J Merchandising & more Schedule of budgeted cash collection – Sales on A/C…
G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following: (i) Extracts from the sales and purchases budgets are as follows: Month Novemer 2020- March 2021 Cash Sales Sales on Account Purchases November $151,100 $480,000 $390,000 December $145,500 $600,000 $360,000 January $159,025 $700,000 $505,000 February $169,350 $650,000 $400,000 March $176,200 $800,000 $518,000 (ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in the second month following the sale (iii) Expected purchases include cash purchases of $25,000 in January and $18,000 in March.All…
G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following:(i) Extracts from the sales and purchases budgets are as follows:MonthNovember 2020 – March 2021 Cash Sales Sales on Account Purchases November $151,100 $480,000 $390,000December $145,500 $600,000 $360,000January $159,025 $700,000 $505,000February $169,350 $650,000 $400,000March $176,200 $800,000 $518,000 (ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in…
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Styles Abuhatim LLC has given the following particulars. You are required to prepare a cash budget for the three months ending 31st December 2019 Months Sales Materials Wages ( OMR) Over heads (OMR) (OMR) (OMR) August September October 20000 10200 3800 1900 21000 10000 3800 2100 23000 9800 4000 2300 November 25000 10000 4200 2400 December 30000 10800 4500 2500 Credit terms are 1.. Sales /Debtors 10% sales are on Cash, 50% of the credit sales are collected in next month and the balance in the following month 2. Creditors- materials 2 months Wages 1 month -1 month Overheads 3. Cash balance on 1st October is expected to be Ro.8000 4. A machinery will be installed in August at a cost of RO.100000, the monthly instalment of RO.5000 is payable from October onwards 5. Dividend at 10% on preference share capital RO.300,000 will be paid on 1* December 2019 6. Advance to be received for the sale of vehicles RO.20000in December 7. Income tax to be received in December RO.5000
G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following:(i) Extracts from the sales and purchases budgets are as follows:MonthNovember 2020 – March 2021CashSalesSalesOnAccountPurchasesNovember $151,100 $480,000 $390,000December $145,500 $600,000 $360,000January $159,025 $700,000 $505,000February $169,350 $650,000 $400,000March $176,200 $800,000 $518,000(ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in the second month following the sale(iii) Expected purchases include cash purchases of $25,000 in January and $18,000 in March.All other purchases are on account.…
G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following:(i) Extracts from the sales and purchases budgets are as follows:MonthNovember 2020 – March 2021CashSalesSalesOnAccountPurchasesNovember $151,100 $480,000 $390,000December $145,500 $600,000 $360,000January $159,025 $700,000 $505,000February $169,350 $650,000 $400,000March $176,200 $800,000 $518,000(ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in the second month following the sale(iii) Expected purchases include cash purchases of $25,000 in January and $18,000 in March.All other purchases are on account.…
G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following:(i) Extracts from the sales and purchases budgets are as follows:MonthNovember 2020 – March 2021CashSalesSalesOnAccountPurchasesNovember $151,100 $480,000 $390,000December $145,500 $600,000 $360,000January $159,025 $700,000 $505,000February $169,350 $650,000 $400,000March $176,200 $800,000 $518,000(ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in the second month following the sale(iii) Expected purchases include cash purchases of $25,000 in January and $18,000 in March.All other purchases are on account.…
G & J Merchandising & More is a family-owned auto-parts store. You are the managementaccountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending March 31, 2021. Your data collection has yielded the following:(i) Extracts from the sales and purchases budgets are as follows:MonthNovember 2020 – March 2021CashSalesSalesOnAccountPurchasesNovember $151,100 $480,000 $390,000December $145,500 $600,000 $360,000January $159,025 $700,000 $505,000February $169,350 $650,000 $400,000March $176,200 $800,000 $518,000(ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 2/30, n90:45% in the month of sale30% in the first month following the sale25% in the second month following the sale(iii) Expected purchases include cash purchases of $25,000 in January and $18,000 in March.All other purchases are on account.…