FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Osprey Cycles, Inc. projected sales of 60,934 bicycles for the year. The estimated January 1 inventory is 5,687 units, and the desired December 31 inventory is 7,702 units. What is the budgeted production (in units) for the year?fill in the blank 1 unitsarrow_forwardCOVID 19 Co has forecast purchases on account to be $318,000 in March, $370,000 in April, $421,000 in May, and $493.000 in June. Sixty five percent of purchases are paid for in the month of purchase, the remaining 35% are paid in the following month, What is the budgeted Accounts Payable balance for June 30? Select one a. $172.550 b. $320,450 C $147.350 d. $273.650arrow_forwardHow do I prepare the selling and administrative expense budget for the quarter ended March 31, 20X1?arrow_forward
- Urmila Benarrow_forwardMotorcycle Manufacturers, Inc. projected sales of 60,000 machines for the year. The estimated January 1 inventory is 6,240 units, and the desired December 31 inventory is 7,120 units. What is the budgeted production (in units) for the year? a.60,880 b.60,000 c.46,640 d.59,120arrow_forwardOsprey Cycles, Inc. projected sales of 57,336 bicycles for the year. The estimated January 1 inventory is 4,737 units, and the desired December 31 inventory is 6,778 units. What is the budgeted production (in units) for the year?fill in the blank 1 unitsarrow_forward
- Osprey Cycles, Inc. projected sales of 61,611 bicycles for the year. The estimated January 1 inventory is 4,381 units, and the desired December 31 inventory is 6,835 units. What is the budgeted production (in units) for the year?fill in the blank 1 unitsarrow_forwardFrolic Corporation has budgeted sales and production over the next quarter as follows: September ? 61,150 Sales in units Production in units Multiple Choice 68,750 The company has 4,900 units of product on hand at July 1. 10% of the next month's sales in units should be on hand at the end of each month. October sales are expected to be 76,000 units. Budgeted sales for September would be (in units): 59,500 July 44,500 45,250 66,800 August 56,500 56,800arrow_forwardGriffith Company has budgeted purchases of inventory for December of $105,000. Expected beginning inventory on December 1 and ending inventory on December 31 are $120,000 and $129,000, respectively. If the cost of goods sold averages 75% of sales, what are budgeted sales for December? A. $114,000 B. $152,000 C. $120,000 D. $128,000arrow_forward
- What is Hershey's operating cash flow to operating income ratio in 2022 under the replacement cost?arrow_forwardCOVID19Co produces hand tools. A sales budget for the next four months is as follows March10.700 units, April 13.600, May 16,200, and June 21.200 COVID19Co's ending finished goods inventory policy is 10% of the following month's sales. What is budgeted ending finished goods inventory for March?arrow_forwardInfinity Inc. has provided the following projected sales units for the next quarter: Projected 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. The expected purchase cost per unit is $50. Compute the budgeted Costs of goods sold for the next quarter. Group of answer choices $1,850,000 $600,000 $500,000 $750,000arrow_forward
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