Stuart Corporation recorded sales of $200,000 during March. Management expects sales to increase 5% in April, another 4% in May, and another 10% in June. Cost of goods sold is expected to be 80% of sales. What is the budgeted gross profit for June?
The following information describes a company's usage of direct labor in a recent period:
Actual direct labor hours used............................32,500
Actual rate per hour........................................$18.00
Standard rate per hour.....................................$16.50
Standard hours for units produced.......................32,000
How much is the direct labor efficiency variance?
Toyz Company produces scooters. Toyz Company has the following sales projections for the upcoming year:
First quarter budged scooter sales in units.................................20,000
Second quarter budged scooter sales in units..............................35,000
Third quarter budged scooter sales in units.................................22,000
Fourth quarter budged scooter sales in units...............................30,000
Inventory at beginning of the year was 4,000 scooters. Toyz Company wants to have 20% of the next quarter's sales in units on hand at the end of each quarter. How many scooters should Toyz Company produce during the first quarter?
Thomario's Powder Coatings makes payments on its inventory purchases as follows: 25% in the month of purchase, 60% in the following month, and 15% in the second month following purchase. Budgeted inventory purchases for June, July and August are $15,000, $19,000 and $24,000, respectively. What are the budgeted cash payments in August for inventory purchases?
Below is budgeted production and sales information for Flushing Company for the month of December:
_______________________________Product XXX____________ProductZZZ
Estimated beginning inventory............30,000 units..................18,000 units
Desired ending inventory..................34,000 units...................17,000 units
Region I, anticipated sales................320,000 units.................260,000 units
Region II, anticipated sales...............180,000 units.................140,000 units
The unit selling price for product XXX is $6 and for product ZZZ is $15.
Budgeted sales for the month are: . Hutchison Corporation began its operations on May 1 of the current year. Budgeted sales for the first three months of business are $260,000, $350,000, and $400,000, respectively, for May, June, and July. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections in May from accounts receivable are: