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Alexxandr [17]
3 years ago
13

Yada Company manufactures luggage sets. Yada sells its luggage sets to department stores. Yada expects to sell 2 comma 000 lugga

ge sets for $ 205 each in January and 2 comma 100 luggage sets for $ 205 each in February. All sales are cash only. Prepare the sales budget for January and February.
Business
1 answer:
Inessa05 [86]3 years ago
6 0

Answer:

                                          JANUARY                       FEBRUARY

TOTAL SALES                     $410,000                       $430,500

Explanation:

for January

number of luggage set sold 2000

price for each set  = $205

sales for month January  = 205*2000 = $410,000

for February

number of luggage set sold 2100

price for each set  = $205

sales for month February  = 205*2100 = $430,500

                                          JANUARY                       FEBRUARY

TOTAL SALES                     $410,000                       $430,500

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Gain of $2,780

Explanation:

Calculation to determine what The company will record If it is sold for $32,000 exactly two years after it is purchased

First step is to calculate the Annual depreciation expense using this formula

Annual depreciation expense = (Cost − Residual value) × (1 ÷ Useful life)

Let plug in the formula

Annual depreciation expense = ($44,700 − $6,000) × (1 ÷ 5)

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Annual depreciation expense =$ 7,740

Second step is to calculate the Accumulated depreciation using this formula

Accumulated depreciation = Year 1 depreciation expense + Year 2 depreciation expense

Let plug in the formula

Accumulated depreciation = $7,740 +$7,740

Accumulated depreciation = $15,480

Now let calculate the Gain (loss) on disposal

Using this formula

Gain (loss) on disposal = Proceeds from sale − (Cost − Accumulated Depreciation at time of sale)

Let plug in the formula

Gain (loss) on disposal = $32,000 − ($44,700 − $15,480)

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Gain (loss) on disposal=$2,780

Therefore If it is sold for $32,000 exactly two years after it is purchased, the company will record a GAIN of $2,780

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3 years ago
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Answer:

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In this case, we have two unknowns, so in order to be solved, we need to find two equations.

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