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IgorLugansk [536]
3 years ago
12

Flack Corporation, a merchandiser, provides the following information for its December budgeting process: The November 30 invent

ory was 1,800 units. Budgeted sales for December are 4,000 units. Desired December 31 inventory is 2,840 units. Budgeted purchases are: Multiple Choice 5,800 units. 6,840 units. 4,000 units. 5,040 units. 1,240 units.
Business
1 answer:
Bingel [31]3 years ago
5 0

Answer: 5,040 units

Explanation:

Budgeted purchases are the purchases that the company needs to make in order to be able to sell its budgeted sales for the month and still have the desired ending inventory they want.

Budgeted purchases can be calculated by the formula:

= Budgeted sales + Desired Ending inventory - Opening inventory

= 4,000 + 2,840 - 1,800

= 6,840 - 1,800

= 5,040 units

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___________ refers to the short distance movement that usually takes place within the confines of a building such as a plant or
steposvetlana [31]

Answer:

d. materials handling.

Explanation:

That's the correct answer. Hope that helps

3 0
2 years ago
Glenrosa Company bought inventory from Monterosa Company, FOB destination. On December 31, the last day of the accounting year,
il63 [147K]

Answer:

The correct option is (B) Monterosa

Explanation:

At the time when the goods are shipped so in the case of FOB destination the goods title would be transferred to the buyer at the time of reaching to the buyer destination as mentioned by the buyer. Till then it would be included in the seller's inventory

So as per the given situation, Monterosa should involves this goods in its closing inventory i.e. as on December 31

4 0
3 years ago
Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manuf
Natasha2012 [34]

Answer:

Kiddy Toy Corporation

The company should lease.  It will save $30,123 by leasing than by buying the machine.

Explanation:

a) Data and Calculations:

1. Buy Machine:

Initial cost = $170,000

Annual Insurance Premium = $15,000

Interest rate = 12%

Estimated useful (Lease Period) = 15 years

Insurance Premium for 15 years (PV) = $102,162.97

PV of Salvage value ($20,000 * 0.183) = $3,660

Total cost of buying machine = $268,503 ($170,000 + $102,162.97 - $3,660)

Present value of lease payments = $238,380

NPV of leasing over buying = $30,123 ($268,503 - $238,380)

N (# of periods)  15

I/Y (Interest per year)  12

PMT (Periodic Payment)  35000

FV (Future Value)  0

 

Results

PV = $238,380.26

Sum of all periodic payments = $525,000.00

Total Interest = $286,619.74

Insurance Premium:

N (# of periods)  15

I/Y (Interest per year)  12

PMT (Periodic Payment)  15000

FV (Future Value)  0

Results

PV = $102,162.97

Sum of all periodic payments $225,000.00

Total Interest $-122,837.03

5 0
3 years ago
Journalize the following transactions in the accounts of Simmons Company:
Alexxx [7]

Answer:

A) March 1, received note receivable from Bynum Company

Dr Note receivable 60,000

    Cr Accounts receivable 60,000

B) March 16, received note receivable from Solo Company

Dr Note receivable 25,000

    Cr Accounts receivable 25,000

C) April 30, Bynum Company's note is dishonored

Dr Accounts receivable 60,600

     Cr Notes receivable 60,000

     Cr Interest revenue 600 ($60,000 x 6% x 2/12)

D) May 17, Solo Company's note is dishonored

Dr Accounts receivable 25,375

     Cr Notes receivable 25,000

     Cr Interest revenue 375 ($25,000 x 9% x 2/12)

E) July 29, cash is collected from Byrum Company

Dr Cash 60,900

    Cr Accounts receivable 60,600

    Cr Interest revenue 300

F) July 29, Solo Company's debt is written off

Dr Allowance for doubtful accounts  25,375

    Cr Accounts receivable 25,375  

7 0
4 years ago
At the end of the year, a company has a balance in Allowance for Uncollectible Accounts of $2,500 (debit) before any year-end ad
Lelu [443]

Answer:

go on mathaway and scan the question it will solve it for you really easy

4 0
3 years ago
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