1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
-Dominant- [34]
3 years ago
5

Fosnight Enterprises prepared the following sales budget: The expected gross profit rate is 30% and the inventory at the end of

February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?
Business
1 answer:
Travka [436]3 years ago
8 0

Answer:

$1,960

Explanation:

Complete Questin:

Fosnight Enterprises prepared the following sales budget:

Month Budgeted Sales

March $6,000

April $13,000

May $12,000

June $14,000

The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?

Sales = 100% – 30%

Gross Profit = 70%

Cost of Goods Sold (CGS)

Therefore, June Sales= $14,000 × 70%

= 9,800 (CGS) × 20%

= $1,960

You might be interested in
Mr. Sanderson works for a chain of clothing stores. He gathers information so he can figure out the best way to organize the sto
STALIN [3.7K]

Answer:

C

Explanation:

3 0
2 years ago
Read 2 more answers
A department store uses a perpetual inventory system. At year-end, it shows a balance in the merchandise inventory account of $2
defon

Answer:

will probably indicate less than $2 million in merchandise on hand.

Explanation:

Perpetual inventory system is when information regarding quantity and availability in inventory of a business is continuously updated. Sale or purchase big inventory is recorded immediately with the use of computerised point of sale systems.

The department store uses a perpetual inventory system. At year-end, it shows a balance in the merchandise inventory account of $2 million. The physical inventory will probably be less than $2 million because it adjust its records to make the recorded inventory amount agree with the actual inventory on hand at end of year.

5 0
3 years ago
Henry, Bekah, and Marcella are on the five-member Benefits Task Force that is researching options for the new benefits package.
xeze [42]

Answer:

groupthink.

Explanation:

Analyzing the above information, it is correct to state that Henry, Bekah and Marcella are involved in the groupthink heuristic, which occurs when there is a group consensus regarding an idea or motivation, in favor of unanimity, without ever researching and evaluating accurately the decision, as stated in the statement in the question.

Groupthink is a phenomenon that occurs when members give up their individual opinion and agree with some suggestion from other members to avoid conflict and keep the group cohesive. This can be a negative behavior when group cohesion becomes more relevant than an opinion and constructive suggestion for the group's challenges.

4 0
3 years ago
Asset turnover _____. A. is another term for inventory turnover B. is calculated from information found on a firm's income state
barxatty [35]

Answer: The correct answer is "C. reveals how profitable a company is".

Explanation: Asset turnover reveals how profitable a company is because it compares how well a company manages its assets to generate more income and accumulate more and more capital.

7 0
3 years ago
Help me really quick!
lana [24]
Answer for the photo is on Xtiny/5G
3 0
3 years ago
Other questions:
  • Board Company has a foreign subsidiary that began operations at the start of 2017 with assets of 134,000 kites (the local curren
    11·1 answer
  • What is the spirit behind the Federal Sentencing Guidelines for Organizations?
    15·1 answer
  • Bright Slope Corp. has provided the following information:Balance SheetCash $ 10,000 Accounts Payable $ 5,000Marketable Securiti
    14·1 answer
  • If the standard deviation of returns from an investment is zero, then: the risk associated with the investment is more than that
    11·1 answer
  • A women's clothing company based in Singapore had to modify its clothes before introducing them in Iran, as it needed to meet th
    6·1 answer
  • At the beginning of the current season on April 1, the ledger of Kokott Pro Shop showed Cash $3,800; Inventory $4,300; and Commo
    9·1 answer
  • What measures the change in prices of a basket of goods and services in a given year?
    7·2 answers
  • A teacher instituted a new reading program at school. after 10 weeks in the​ program, it was found that the mean reading speed o
    9·2 answers
  • Who wants to be my friend.!?
    7·1 answer
  • Klaus, a German citizen and non-resident for US tax purposes, owns a small business in New York City that imports and sells acce
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!