How many car wheels should be purchased in October?
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1. How many car wheels should be purchased in October?
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- Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is collected in the month of sale, 15% is collected the month after the sale, and 10% is collected the second month after the sale. How much cash will be collected in June if sales are estimated as $75,000 in April, $65,000 in May, and $90,000 in June?Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Given the sales shown, how much cash will be collected in January and February?Sports Socks has a policy of always paying within the discount period and each of its suppliers provides a discount of 2% if paid within 10 days of purchase. Because of the purchase policy, 85% of its payments are made in the month of purchase and 15% are made the following month. The direct materials budget provides for purchases of $129,582 in November, $294,872 in December, $239,582 in January, and $234,837 in February. What is the balance in accounts payable for January 31, and February 28?
- Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25% was collected the month after the sale, and 10% was collected the second month after the sale. Given the sales shown, how much cash will be collected in March and April?All Temps has a policy of always paying within the discount period, and each of its suppliers provides a discount of 2% if paid within 10 days of purchase. Because of the purchase policy, 80% of its payments are made in the month of purchase and 20% are made the following month. The direct materials budget provides for purchases of $23,812 in February, $23,127 in March, $21,836 in April, and $28,173 in May.What is the balance in accounts payable for April 30, and May 31?If the sales forecast estimates that 50,000 units of product will be sold during the following year, should the factory plan on manufacturing 50,000 units in the coming year? Explain.
- One Device makes universal remote controls and expects to sell 500 units in January, 800 in February, 450 in March, 550 in April, and 600 in May. The required ending inventory is 20% of the next months sales. Prepare a production budget for the first four months of the year.Trumbull Co. plans to produce 100,000 toy cars during September. Planned production for October is 125,000 cars. Sales are forecasted at 90,000 toy cars for September and 120,000 toycars for October. Each toy car requires four wheels. Trumbull’s policy is to maintain 10 percentof the next month’s production in inventory at the end of a month. How many wheels shouldTrumbull purchase during September?a. 195,000 b. 112,500c. 102,500 d. 410,000In October, November, and December, CVM Inc. expect to sell 50,000, 48,000, and 51,000 units respectively. The company's policy is to keep an end-of-month finished-goods inventory equal to 40% of the following month's sales. On the basis of this information, how many units would the company plan to produce in November?
- Muscat Manufacturing plans to sell 6,000 chairs during May, 5,700 in June, and 6,000 during July. The company keeps 15% of the next month's sales as ending inventory. How many units should Muscat produce during June?Sunlight Company forecasts purchases of 30,000 widgets in June. It sells the widget at $14.00 per unit. The company has 2,500 units on hand on June 1. The desired ending inventory of widgets on June 30 is to be 10% lower than the beginning inventory. Total June sales for widgets are anticipated to be (in dollars):Forrest Company manufactures phone chargers and has a JIT policy that ending inventory should equal 10% of the next month’s estimated unit sales. It estimates that October’s actual ending inventory will consist of 40,000 units. November and December sales are estimated to be 400,000 and 350,000 units, respectively. Compute the number of units to be produced in November.
