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aalyn [17]
3 years ago
11

Garfield Corp. expects to sell 1,300 units of its pet beds in March and 900 units in April. Each unit sells for $110. Garfield’s

ending inventory policy is 30 percent of the following month’s sales. Garfield pays its supplier $40 per unit. Prepare Garfield’s purchases budget for March.
Business
1 answer:
Pani-rosa [81]3 years ago
6 0

Answer:

$62,800

Explanation:

Following Garfield Corp's policy, the number of pet beds that must be purchased, assuming no initial inventory, is given by the expected number of sales in March (1,300 units) added to 30% of the expected sales in April (30% of 900 units):

n=1,300 +(0.3*900)\\n=1,570\ units

Since the company purchases each pet bed for $40, total budgeted purchases are:

P=\$40*n=\$40*1,570\\P=\$62,800

Garfield Corp's total budgeted purchases for March are $62,800.

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Answer:

the annual rate of return is 15.24%

Explanation:

The computation of the annual rate of return is shown below:

Given that

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FV = $0

The formula is shown below:

= RATE(NPER,PMT,-PV,FV,TYPE)

AFter applying the above formula, the annual rate of return is 15.24%

6 0
3 years ago
You are an insurance salesman. If you make 12% on all insurance sales and sold an average $35,000 / month, how much money did yo
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Answer:

$50,400

Explanation:

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3 years ago
Which of the following is an accounting procedure that (1) estimates and reports bad debts expense from credit sales during the
Murljashka [212]

Allowance method of accounting for bad debts .

Option - B

<u>Explanation: </u>

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The payment method is a better solution to the direct payment method because it is in line with the matching accounting theory.

Bad debts expenses are recognized soon since bad debts are likely and can be estimated to a fairly precise degree so that they meet the criteria necessary to recognize predicated losses and recognize the costs of bad debts.

7 0
2 years ago
In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insig
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In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insights into our behavior can be gained by assuming that we act as if governed by the rules of rational decision-making.

It is possible to define rational decision-making as a decision-making process that incorporates reasoning at every stage. It is founded on the use of impartial knowledge. The first step in making a reasonable decision is to identify the issue that needs to be resolved, followed by the collection of all relevant data.

The next step is to examine every outcome that might result from each potential solution. The decision-making process that follows comprises weighing all viable options and selecting the best one based on reasoning.

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To know more about decision-making refer to:

brainly.com/question/1249089

#SPJ4

7 0
1 year ago
The amount due on the maturity date of a $10,900, 60-day 6%, note receivable is: (Use 360 days a year.)
Marysya12 [62]

Answer:

$11,009

Explanation:

Calculation to determine The amount due on the maturity date

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5 0
2 years ago
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