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
zhenek [66]
3 years ago
10

A company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September

30 inventory is $25,000. If the December 31 inventory is targeted at $7,500, budgeted purchases for the fourth quarter should be: (Show work on test paper or separate scanned submission.)
Business
1 answer:
nlexa [21]3 years ago
6 0

Answer:

Purchases=  $57,530

Explanation:

Giving the following formula:

Production= 91,500*(1 - 0.18)= $75,030

Beginning inventory= $25,000

Desired ending inventory= $7,500

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

<u></u>

Purchases= production + desired ending inventory - beginning inventory

Purchases= 75,030 + 7,500 - 25,000

Purchases=  $57,530

You might be interested in
The following data were reported by a corporation: Authorized shares 24,000 Issued shares 19,000 Treasury shares 5,500 The numbe
Basile [38]

Answer:

13,500

Explanation:

Outstanding shares = issued shares - Treasury shares

19,000 - 5,500 = `13,500

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors

Treasury shares are shares that have been issued and later repurchased by the company

Issued shares are the shares that a company issues

4 0
2 years ago
You have $7,800 to deposit. Regency Bank offers 6 percent per year compounded monthly (.5 percent per month), while King Bank of
hammer [34]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

PV= $7,800

Regency Bank:

i= 0.5 percent per month

n= 19*12= 228

King Bank:

i= 6 percent annually

n=19

To calculate the final value of each bank we need to use the following formula:

FV= PV*(1+i)^n

Regency bank:

FV= 7,800*(1+0.005)^228= $24,319.61

King bank:

FV= 7,800*(1.06)^19= $23,599.68

6 0
3 years ago
In order for a behavioral definition to possess _______________ ______________, two outside independent observers must agree tha
sertanlavr [38]
There should be two outside independent observers or two outside judges on the other words, that must agree and believe that the definition captures the important characteristics of the target behavior in order for a behavioral definition to possess social validity.
5 0
3 years ago
Read 2 more answers
Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning
otez555 [7]

Answer:

Explanation:

1. The computation of the balance in retained earnings is shown below:

= Beginning retained earning balance + adjusted net income

where,

Beginning retained earning balance is $780,000

And, the adjusted net income is = Inventory × ( 1 - tax rate)

= $60,000 × (1 - 40%)

= $36,000

Now put these values to the above formula  

So, the value would equal to

= $780,000 + $36,000

= $816,000

2. The journal entry is shown below:

Inventory A/c Dr $60,000

   To Retained earning A/c $36,000

   To Tax payable A/c          $24,000

(Being inventory is adjusted and the remaining balance is credited to tax payable account)

4 0
3 years ago
slader Each month Leo must make copies of a budget report. When he uses both the large and the small copier, the job takes 30 mi
storchak [24]

Based on the time it takes Leo when he uses two machines, the length of time it will take if the large copier is broken is <u>75 minutes. </u>

<h3>How long will it take if the large copier is broken?</h3><h3 />

This can be found by the formula:

= 1 / ( (1 / time taken with both copiers) - (1 / time taken with large copier) )

Solving gives:

= 1 / ( ( 1 / 30) - (1 / 50))

= 1 / (1 / 75)

= 75 minutes

Find out more on budget reports at brainly.com/question/25812320.

7 0
2 years ago
Other questions:
  • Which of the following communication network structures has the highest centralization?
    6·1 answer
  • Avery Company has two divisions, Polk and Bishop. Polk produces an item that Bishop could use in its production. Bishop currentl
    12·1 answer
  • All of the following regarding the current ratio are true except: Multiple Choice Current ratio is calculated by dividing curren
    11·2 answers
  • If the required reserve ratio is 2.50 percent, what is the monetary multiplier? if the monetary multiplier is 5, what is the req
    7·1 answer
  • Barnes Enterprises has bonds on the market making annual payments, with 14 years to maturity, a par value of $1,000, and a price
    15·1 answer
  • Scenario 22-3: Economy of Centralia Centralia has no trade and no government. GDP = $25 trillion. Consumption Spending = $18 tri
    9·1 answer
  • Which of the following types of insurance do businesses frequently offer as part
    14·2 answers
  • The mission of a company lays out some desired future state and articulates that the company would like to achieve
    7·1 answer
  • The deadweight loss associated with a monopoly occurs because the monopolist:_______
    5·1 answer
  • PLEASE HELP :(
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!