Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows: Sales Budget Cash Sales Sales on Account Bright Minds expects to collect 70% of the sales on account in the month of sale, 20% in the month following the sale, and the remainder in the second month following the sale. What is the amount of sales Multiple Choice April May June 50,000 51,000 75,000 390,000 448,000 425,000 440,000 499,000 500,000 $1,439,000 venue that the company will report on the second quarter pro forma income statement?

Down Under Products' sales budget for the next four months is as follows: Unit Sales April May June July 78,000 85,000 118,000 94,000 The company wants its ending inventory levels to equal 20% of the following month's unit sales. The inventory at the end of March was 15,600 units. Required: Prepare a production budget, by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June Quarter 0 0 0 0 0 0 0 0

Hiking General Store prepared the following sales budget:     MONTH BUDGETED SALES MARCH RM4,000.00 APRIL  RM14,000.00 MAY RM12,000.00 JUNE RM16,000.00 The expected gross profit rate is 30% and the inventory at the end of February was RM14,000. Desired inventory levels at the end of the month are 10% of the next month Cost Of Good Sold.     Compute the total purchase budgetedfor April for Hiking General Store. Support your answer with explaination.

Infinity Inc. has provided the following projected sales units for the next quarter: Projected Sales Units for Next Quarter Sales Units First month  Second month  Third month Projected sales units 10,000 12,000 15,000 Desired ending inventory is determined to be 10% of the next month’s projected sales. What would be the budgeted production units during the second month of the quarter? Group of answer choices 12,300 units 13,200 units 11,700 units 13,500 units

Champ Incorporated budgets the following sales in units for the coming two months. Each month's ending Inventory of finished units should be 60% of the next month's sales. The April 30 finished goods Inventory is 168 units. May 280 Budgeted sales units Prepare the production budget for May. CHAMP, INCORPORATED Production Budget June 200 Next period budgeted sales units Ratio of inventory to future sales Add: Desired ending inventory Next period budgeted sales units Desired ending inventory units Total required units Less: Beginning inventory units Units to produce May

Down Under Products' sales budget for the next four months is as follows: Unit Sales April May June July 50,000 75,000 90,000 80,000 The company wants its ending inventory levels to equal 10% of the following month's unit sales. The inventory at the end of March was 5,000 units. Required: Prepare a production budget, by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June Quarter

Preparing a Production Budget Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales: January 41,000 February 38,000 March 50,000 April 51,000 Patrick's policy is to have 24% of next month's sales in ending inventory. On January 1, it is expected that there will be 4,350 drums of solvent on hand. Required: Prepare a production budget for the first quarter of the year. Show the number of drums that should be produced each month as well as for the quarter in total. If required, round your answers to the nearest whole unit. Patrick Inc. Production Budget For the Coming Quarter   January February March 1st Quarter Total Sales fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Desired ending inventory fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Total needs fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the…

ABC Company’s sales budget shows a quarterly sales for the next year as follows: Quarter Units Quarter Units 1 14,500 3 17,400 2 11,600 4 20,300 Company policy is to have a finished goods inventory at the end of each quarter equal to 20% of the net quarter’s sales. Budgeted production for the second quarter of the next year would be a. 10,440 units b. 11,600 units c. 12,180 units d. 12,760 units

please step by step answer.

The marketing department of Teddy Bear Company has submitted the following sales forecast for the upcoming fiscal year.   Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budgeted unit sales 120,000 130,000 125,000 125,000   The company expected to start the first quarter with 20,000 units in finished goods in inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter’s budgeted sales. The desired ending finished goods inventory for the fourth quarter s 25,000 units. Prepare the company’s production budget for the second quarter.