Question: 2. Complete a six-month plan given the following and rounding the nearest whole dollar: a. Last year's sales totaled $625,000. This year, sales are

2. Complete a six-month plan given the following and rounding the nearest

2. Complete a six-month plan given the following and rounding the nearest whole dollar: a. Last year's sales totaled $625,000. This year, sales are expected to increase by 4% b. Last year's sales figures by month were as follows: September $112,500 August - $100,000 October = $81,250 December = $137,500 November = $125,000 January = $68,750 c. Last year's markdown figures by month were as follows: August - $14,000 October = $11,500 December $19,500 September $12,000 November = $18,000 January = $25,000 d. The buyer plans to utilize the basic stock method for planning BOM stock levels. e. The turnover is planned at 3.0. f. The average stock figure will be used as the ending inventory for the season.

Step by Step Solution

★★★★★

3.46 Rating (153 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

ANS WER Six Month Plan Month Sales Mark down B OM Average Stock August 629 000 14 000 180 000 47 000 ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Susan plans for her children and children's children to inherit a perpetual annual cash amount entitlement starting at some point in the future. Susan estimates that her investment will be worth one...

Baxter Video Productss sales are expected to increase by 20% from $5 million in 2010 to $6 million in 2011. Its assets totaled $3 million at the end of 2010. Baxter is already at full capacity, so...

Broussard Skateboard's sales are expected to increase by 15% from $8 million in 2015 to $9.2 million in 2016. Its assets totaled $5 million at the end of 2015. Broussard is already at full capacity,...

The management of Nabar Manufacturing prepared the following estimated balance sheet for June, 2013: To prepare a master budget for July, August, and September of 2013, management gathers the...

The trial balance of Pacilio Security Services Inc. as of January 1, 2021, had the following normal balances: Cash ..................... $113,718 Petty cash ................... 100 Accounts...

In five years, Kent Duncan will retire. He is exploring the possibility of opening a self-service car wash. The car wash could be managed in the free time he has available from his regular...

Night Watch Company recently began production of a new product, the halogen light, which required the investment of $500,000 in assets. The costs of producing and selling 12,000 halogen lights are...

The following information was used to prepare the financial statements for Delta Chemical Company. Prepare the necessary notes to accompany the statements. Delta uses the LIFO inventory method on its...

During its first year of operations, Snobegon, Inc. (located in Lake Snobegon, Minnesota), produced 30,000 plastic snow scoops. Snow scoops are oversized shoveltype scoops that are used to push snow...

Hank's Hardware House, which sells sheets of sandpaper in bulk. On October 1 Hank had 4000 sheets of sandpaper at an average cost of $.25 each. The store also made the following purchases of...

A sample of gas at 300 torr inside a steel tank is cooled from 500 C to 0 C. What is the final pressure of the gas in the steel tank? round to one sig fig

Joshua needs to borrow some money. The bank agrees to let him make quarterly payments of $ 2,500 and a final payment of $ 200,000 in 10 years. If the bank and Joshua agree on a 6 percent rate of...

Of the following, which differs in meaning from the other three a fondipy, the undiversifibor risk bs , it , you need unique risk.See market risk or b systematic risk

You are conducting an accounting research project for your boss. Your boss has asked you to determine the appropriate U.S. GAAP that specifies how your company should recognize revenues from the...

Did Saks' anti-harassment policy and the related complaint procedure qualify as internal controls? Explain.

The post-closing trial balance of Custer Products, Inc. on April 30 is reproduced as follows: During May, the following transactions took place: a. Purchased raw materials at a cost of $45,000 and...

In your opinion, was Saks' zero tolerance policy for employee theft reasonable? Was the policy likely cost-effective? Defend your answers.

Cycle Specialists manufactures goods on a job order basis. During the month of June, three jobs were started in process. (There was no work in process at the beginning of the month.) Jobs Sprinters...

De acuerdo con la tipologa de la evaluacin, Qu tipo de evaluacin est aplicando el profesor Jos con la aplicacin del examen al finalizar el ciclo escolar

A Treasury bond that matures in 10 years has a yield of 6%. A 10-year corporate bond has a yield of 9%. Assume that the liquidity premium on the corporate bond is 0.5%. What is the default risk...

Ace Industries has current assets equal to $3 million. The companys current ratio is 1.5, and its quick ratio is 1.0. What is the firms level of current liabilities? What is the firms level of...

What is an opportunity cost rate? How is this rate used in discounted cash flow analysis, and where is it shown on a time line? Is the opportunity rate a single number that is used to evaluate all...

Anxiety that takes the form of an irrational fear and avoidance of a specific object, activity, or situation is called a ______.

Now that you know more about schizophrenia, do you think the media accurately portray the behavior of people with this disorder? Why or why not?

Many psychologists reject the disorders-as-illness view and instead maintain that other factors may also be involvedfor example, the persons bad habits and poor social skills. This view represents...