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grin007 [14]
2 years ago
7

Heedy Company is trying to decide how many units of merchandise to produce each month.The company policy is to have 20% of the n

ext month's sales in inventory at the end of each month.Projected sales for August, September, and October are 30,000 units, 20,000 units, and 40,000 units, respectively.How many units must be produced in September?A) 24,000B) 18,000C) 28,000D) 22,000
Business
1 answer:
makkiz [27]2 years ago
3 0

Answer:

Production= 24,000 units

Explanation:

Giving the following information:

Desired ending inventory= 20% of next month's sales

Sales:

August= 30,000

September= 20,000

October= 40,000

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

<u></u>

Production= sales + desired ending inventory - beginning inventory

Production= 20,000 + 40,000*0.2 - 20,000*0.2

Production= 24,000 units

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Which budget or budget type should be used to meet the following​ needs? a. Upper management is planning for the next five years
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Answer:

a. A Strategic budget will be used by the upper management in planning for the next five years.

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a. A Master Budget will be used by a CEO who wants to make companywide plans for the next year.

Explanation:

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4 0
3 years ago
Economists make assumptions to represent their political bias. focus their thinking. make models easier for students to understa
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3 years ago
Echo Corporation uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. During the ye
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Answer:

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If we assigned three people to work with you on a complex project containing 75 tasks that you were responsible for, how would y
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3 years ago
Bramble Corporation was organized on January 1, 2020. It is authorized to issue 10,500 shares of 8%, $100 par value preferred st
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Answer and Explanation:

The journal entries, posting and preparation of the paid-in capital section of stockholders’ equity is presented below:

a. The journal entries are shown below:

On Jan 10

Cash $302,000  

        To Common Stock  $151,000 (75,500 shares × $2)

        To Paid in Capital in Excess of Stated Value-Common Stock $151,000

(Being the issuance of the common stock is recorded)  

On Mar 1

Cash $593,250  (5,650 shares × $105 )

               To Preferred Stock  $565,000 (5,650 shares × $100 )

               To Paid in Capital in Excess of Par-Preferred Stock $28,250  

(Being the issuance of the Preferred stock is recorded)  

On Apr 1

Land $83,000  

               To Common Stock  $50,000 (25,000 shares × $2)

                To Paid in Capital in Excess of Stated Value-Common Stock $33,000  

(Being the issuance of the common stock is recorded)  

On May 1

Cash $359,125  (84,500 shares × $4.25)

         To Common Stock  $169,000 (84,500 shares × $2)

         To Paid in Capital in Excess of Stated Value-Common Stock $190,125  

(Being the issuance of the common stock is recorded)  

On Aug 1

Organization expenses $41,000  

           To Common Stock  $22,000 (11,000 shares × $2)

            To Paid in Capital in Excess of Stated Value-Common Stock  $19,000  

(Being the issuance of the common stock is recorded)  

On Sep 1

Cash $60,000  (10,000 shares × $6)

       To Common Stock    $20,000 (10,000 shares × $2)

       To Paid in Capital in Excess of Stated Value-Common Stock $40,000

(Being the issuance of the common stock is recorded)    

On Nov 1

Cash $277,500  (2,500 shares × $111)

           To Preferred Stock  $250,000 (2,500 shares × $100)

           To Paid in Capital in Excess of Par-Preferred Stock  $27,500

(Being the issuance of the common stock is recorded)  

b. The T accounts of the above accounts are presented below:

                                     Preferred Stock

                                                             Mar 1        $565,000

                                                             Nov 1       $250,000

                                                            Balance    $815,000

                                     Common Stock

                                                             Jan 10     $151,000

                                                             April 1      $50,000

                                                             May 1       $169,000

                                                             Aug 1       $22,000

                                                             Sep 1       $20,000

                                                            Balance    $412,000

                         Paid in capital in excess of par - Preferred stock

                                                             Mar 1        $28,250

                                                             Nov 1       $27,500

                                                            Balance    $55,750

                      Paid in capital in excess of stated value - Common stock

                                                            Jan 10     $151,000

                                                             April 1      $33,000

                                                             May 1       $190,125

                                                             Aug 1       $19,000

                                                             Sep 1       $40,000

                                                            Balance    $433,125

c. Now the preparation is presented below:

                                     Bramble Corporation

                                     Balance Sheet Partial

                                   As of December 31, 2020

Stockholders Equity

Capital Stock

Preferred Stock             $815,000

Common Stock             $412,000

Total Capital Stock                           $1,227,000   (A)

Additional Paid in capital

Paid in Capital in Excess of Par-Preferred Stock $55,750

Paid in Capital in Excess of Stated Value-Common Stock  $433,125

Total Additional Paid in Capital        $488,875   (B)

Total Stockholders Equity                 $1,715,875   (A + B)

6 0
3 years ago
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