Tammy's Turtles buys and sells pet turtles. The average purchase price is $10 per turtle and...

 
 

Transcribed Image Text:

Tammy's Turtles buys and sells pet turtles. The average purchase price is $10 per turtle and the average sales price is $20 per turtle. Tammy prefers to maintain an inventory level of 40% of next month's expected sales, % of Tammy's customers buy on credit. Of these, 4 pay within the month of purchase and % pay the following month. Tammy buys all turtles on credit and pays for 30% the same month and 70% the following month. At the end of February, Tammy had 200 turtles in inventory. During March, April, and May, Tammy expects to sell 600, 700, and 800 turtles, respectively. Produce a sales budget for April (including cash collections). Sales (# uniits): Answer: Sales price in $: Answer: Sales revenue in $: Answer: Cash collections Cash from this month's sales in $: Answer: Cash from last month's sales in $: Answer: Total cash collections in $: Answer: Produce a purchases budget for April (including cash payments). Sales (# units): Answer: Desired ending inventory: Answer: Units needed: Answer: Beginning inventory: Answer: Purchases (# units): Answer: Purchase price: Answer: Purchases in $: Answer: Cash payments Cash for this month's purchases in $: Answer: Cash for last month's purchases in $: Answer: Total cash payments in $: Answer: Finish a Tammy's Turtles buys and sells pet turtles. The average purchase price is $10 per turtle and the average sales price is $20 per turtle. Tammy prefers to maintain an inventory level of 40% of next month's expected sales, % of Tammy's customers buy on credit. Of these, 4 pay within the month of purchase and % pay the following month. Tammy buys all turtles on credit and pays for 30% the same month and 70% the following month. At the end of February, Tammy had 200 turtles in inventory. During March, April, and May, Tammy expects to sell 600, 700, and 800 turtles, respectively. Produce a sales budget for April (including cash collections). Sales (# uniits): Answer: Sales price in $: Answer: Sales revenue in $: Answer: Cash collections Cash from this month's sales in $: Answer: Cash from last month's sales in $: Answer: Total cash collections in $: Answer: Produce a purchases budget for April (including cash payments). Sales (# units): Answer: Desired ending inventory: Answer: Units needed: Answer: Beginning inventory: Answer: Purchases (# units): Answer: Purchase price: Answer: Purchases in $: Answer: Cash payments Cash for this month's purchases in $: Answer: Cash for last month's purchases in $: Answer: Total cash payments in $: Answer: Finish a

Answer rating: 100% (QA)

Sales Units 700 units Sales Price in 20 Sales Reven... View the full answer