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2 years ago

Following is the sales budget for Coore, Inc., for the first quarter of 2019.

Business

1 answer:

gayaneshka [121]2 years ago

3 0

Answer:

a. Sales for November = $192,666.67

b. Sales for December = $312,400,00

c. Total cash collections are as follows:

January = $200,580

February = $201,360

March = $191,750

Explanation:

a. Compute the sales for November.

Sales for November = (Accounts receivable balance at the end of the previous quarter - Uncollected sales from December) / Collection rate two months after the sale = ($107,000 - $78,100) / 15% = $192,666.67

b. Compute the sales for December.

Sales for December = Uncollected sales from December / (Collection rate one months after the sale + Collection rate two months after the sale) = $78,100 / (10% + 15%) = $312,400,00

c. Compute the cash collections from sales for each month from January through March.

Note: See the attached excel file for the schedule of cash collections from sales for each month from January through March.

From the attached excel file, total cash collections are as follows:

January = $200,580

February = $201,360

March = $191,750

Download xlsx

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Answer:

a. $2,020 Favorable

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The computation of spending variance for direct materials in April is shown below:-

For computing the spending variance for direct materials in April first we need to find out the actual price per unit which is here below:-

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2 years ago

When incorporating, a business a. may incorporate in any state it chooses. b. must incorporate in the state in which it does the

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Answer:

B. may incorporate in any state it chooses.

Explanation:

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2 years ago

To pay for college, Henry received the following: $1,000 scholarship from the Thespian Club to pay for books $4,000 scholarship

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Answer:

$5,000

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3 years ago

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