FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- FIll in the blanks 1. _____ = 27,000 + 39,000 - 33,000 + 32,000 - 3,000 2. 51,000 = ____ + 28,000 - 6,000 + 7,000 - 12,000 3. 79,000 = 36,000 + ____ - 5,000 + 18,000 - 11,000arrow_forward345678 Sources of Sales Estimate a Sales Manager 1st Quarter $520,000 2nd Quarter 3rd Quarter 4th Quarter $410,000 $370,000 $610,000 b Marketing Consultant $540,000 $480,000 $400,000 $630,000 C Production Manager $460,000 $360,000 $350,000 $580,000 9 They have estimated that the cost of goods sold is 70 percent of sales. The company tries to maintain 10 percent of next quarter's expected cost of goods sold as the current quarter's ending inventory. The ending inventory of this year is $25,000. For budgeting, the ending inventory of the next year is expected to be $28,000. 70% 10% $25,000 $28,000 10 11 Required 12 a. Complete the spreadsheet below to allow the inventory purchases budget to be prepared for each of the estimates above. 13 14 Spreadsheet Tips 1. This spreadsheet uses a function called vertical lookup. This function can pull the appropriate values from a table. The form 15 of this function is =VLOOKUP(value,table,column#). In this example, the table is in cells A5 to F7.…arrow_forwardA8arrow_forward
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