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dolphi86 [110]
3 years ago
5

July August September Expected sales $490,000 $540,000 $580,000 Abet's cost of goods sold is 60% of sales dollars. At the end of

each month, Abet wants a merchandise inventory balance equal to 25% of the following month's expected cost of goods sold. What dollar amount of merchandise inventory should Abet plan to purchase in August
Business
1 answer:
ycow [4]3 years ago
8 0

Answer:

Purchases= $330,000

Explanation:

Giving the following information:

Sales:

August $540,000

September $580,000

Abet's cost of goods sold is 60% of sales dollars.

Abet wants a merchandise inventory balance equal to 25% of the following month's expected cost of goods sold.

<u>To calculate the purchases for August, we need to use the following formula:</u>

Purchases= sales + desired ending inventory - beginning inventory

Purchases= (540,000*0.6) + (580,000*0.6)*0.25 - (540,000*0.6)*0.25

Purchases= 324,000 + 87,000 - 81,000

Purchases= $330,000

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Answer:

ACME Corporation

Fraud Suspicion of Adam Jones:

1. Pre-admission-seeking Investigation Procedures:

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  • Interview those who raised the suspicion to establish reasonable basis
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  • Decide if investigation was necessary in the light of company policies and preliminary findings
  • Plan the interview

2. Adam's initial reaction when confronted:

Adam would be defensive and try to deny the existence of such acts, especially when he is not sure that you have got some evidence against him.

3. Adam might try to cover his track when suspicion alert has been raised to his knowledge.  He might contact the vendors and suppliers involved to ensure that they did not disclose any unfavorable information to the investigator.  He might also engage in bluffing, that is trying to prove his innocence before the investigation proper.

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Explanation:

In law, fraud is the deliberate misrepresentation of facts for the purpose of depriving someone of a valuable possession or enriching oneself.

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3 years ago
An employee who is responsible for planning, directing, and monitoring the work of other employees is a ________.
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an employee who is responsible for planning, directing, and monitoring the work of other employees is a manager

Hope this helped and have a good day

6 0
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Neumann Corporation is planning to issues bonds with a face amount of $2 million. If Neumann's accountant, Betty, wants to calcu
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