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Hunter-Best [27]
2 years ago
7

Which inventory report best shows non- turning items?

Business
1 answer:
soldi70 [24.7K]2 years ago
7 0

Answer:

sorry but you did not put a picture

Explanation:

You might be interested in
The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are p
Rina8888 [55]

Answer:

Bridgeport Housewares Inc.

1. Monthly Cash Budget with supporting schedules for September, October, and November:

a. Cash Budget for September, October, and November:

                                                        September      October     November

Beginning balance                           $40,000      $111,0000      $137,500

Cash receipts                                   253,000       259,500        288,000

Total cash available                       $293,000     $370,500     $425,500

Cash Payments:

Payment for manufacturing costs   140,000       130,000        135,000              

Income tax                                                              55,000

Dividend                                                                                      25,000

Selling & administrative expenses   42,000        48,000          51,000

Capital expenditures                                _                    _       200,000

Total cash payment                      $182,000    $233,000      $411,000

Balance                                           $111,000     $137,500       $14,500

Minimum Cash Balance                  50,000        50,000         50,000

Cash to invest or borrow              $61,000      $87,500      -$35,500

b. Supporting Schedules:

i) Cash Collections:

                                                        September      October     November

10% Cash Sales, month of sales       $25,000     $30,000       $31,500

Sales on account: 90%

70% following month of sales                               157,500        189,000

30% 2nd month following sale                                                    67,500

30% of July Sales                                60,000

70% of August                                    168,000

30% of August                                                        72,000

Total cash receipts                         $253,000  $259,500     $288,000

2. The budget indicates that the minimum cash balance (will or will not) be maintained in November.  This situation can be corrected by (investing or borrowing) and/or by the (purchase or sale) of the marketable securities, if they are held for such purposes.  At the end of September and October, the cash balance will (exceed or be sort of) the minimum desired balance.

Explanation:

a) Data and Calculations:

1. Budget Information:

                                                        September      October     November

Sales                                                 $250,000    $300,000      $315,000

Manufacturing costs                           150,000       180,000        185,000

Selling and administrative expenses  42,000         48,000          51,000

Capital expenditures                                _                    _           200,000

2. Cash Collections:

                                                        September      October     November

10% Cash Sales, month of sales       $25,000     $30,000       $31,500

Sales on account: 90%

70% following month of sales                               157,500        189,000

30% 2nd month following sale                                                    67,500

30% of July Sales                                60,000

70% of August                                    168,000

30% of August                                                        72,000

Total cash receipts                         $253,000  $259,500     $288,000

3. Manufacturing Costs:

Manufacturing costs                           150,000       180,000        185,000

less Depreciation, insurance, &

property tax expenses                       50,000        50,000          50,000

Remainder                                          100,000       130,000        135,000

4. Remainder of Manufacturing costs:

80% paid in the month incurred        80,000       104,000        108,000

Remainder 20%, month following     20,000        26,000         27,000

August manufacturing cost:              40,000

Payment for manufacturing costs $140,000     $130,000     $135,000

5. Cash Payments:

Payment for manufacturing costs   140,000       130,000        135,000              

Income tax                                                              55,000

Dividend                                                                                      25,000

Selling & administrative expenses   42,000        48,000          51,000

Capital expenditures                                _                    _       200,000

Total cash payment                      $182,000    $233,000      $411,000

Other relevant information:

Current assets as of September 1:

Cash of $40,000

Marketable securities of $75,000

Accounts receivable of $300,000 ($60,000 from July sales and $240,000 from August sales). Sales on account for July and August were $200,000 and $240,000, respectively

Current Liabilities:

September 1 Accounts payable = $40,000 incurred in August for manufacturing costs.

Selling and administrative expenses are paid in cash in the period they are incurred.

Income tax = $55,000 October

Quarterly Dividend of $25,000 in November

Minimum cash balance of $50,000 monthly

b) When Bridgeport Housewares Inc prepares budgeted monthly cash budgets, important highlights are indicated.  For instance, it becomes easier for the management of Bridgeport to know when to borrow cash to meet the minimum cash balance or in the alternative sell off some marketable securities.  It is also easier for Bridgeport to understand that it can be having excess cash which should not be allowed to sit idle, but can be invested in marketable securities.  The cash budgets and their preparation also help Bridgeport to be better prepared to exert the required efforts to generate sales revenue in order not to jeopardize its liquidity position.  It can also help Bridgeport to understand that the capital expenditure could have been paid for instalmentally starting from September or so instead of lumping the sum in November.  There are many other insights garnered from the cash budgets and their preparation.

8 0
2 years ago
The continuing cycle of erratic demand causing forecasts to include safety stock which in turn magnify supplier forecasts and ca
balandron [24]

Answer:

The Bullwhip Effect

Explanation:

Bullwhip effect is a phenomenon that occurs in an organisation's channel of distribution due to swings or erratic demands for products by customers. This erratic nature of demands will usually lead to forecasting inefficiencies especially in meeting the demands through the supply chain.

A sudden increase in demand could lead to production planning problems because there might not be enough inventory of materials on ground to meet the demand. Also, a sudden decrease in demand can bring the challenge of excess inventory of materials which may not be needed for production for a while.

One of the measures taken to manage this erratic nature of demands is to ensure that whatever the forecasts for demands is, safety stock must be included to the forecast level of demand so as to ensure that production planning is adequate and the demands are met as well.

6 0
2 years ago
The following transactions were selected from among those completed by Hailey Retailers in the current year:
natali 33 [55]

The appropriate journal entry for each of these transactions,

Date                         Journal entry                        Debit                    credit

Nov 20                Cash    a/c                                441

                           credit card discount                  9

                         To sales revenue                                                        450

Nov 25        Accounts receivable                      2800

                    To sales receivable                                                   2800

Nov 28        Accounts receivable                 7200

                    To sales receivable                                               7200

Nov 30        Sales return                            600

                To account for receivable                                           600

Dec 06      Cash                                         6468

                  sales discount                         132

                 To accounts receivable                                   6600

Dec 30      Cash                                          2800

                 To accounts receivable                                   2800

Net sales:450+2800+7200-600-132

              = 9718

Examples of transactions are as follows: Paying a provider for offerings rendered or goods introduced. Paying a vendor with cash and a note so one can obtain ownership of assets formerly owned by the seller. Paying an employee for hours worked.

A transaction is a finished settlement between a client and a seller to exchange items, offerings, or monetary property in going back for cash. The term is also commonly utilized in company accounting. In business bookkeeping, this simple definition can get complex.

A cash transaction is the immediate charge of coins for the acquisition of an asset. some market stock transactions are considered cash transactions although the exchange might not settle for some days. A futures agreement isn't always considered a cash transaction.                

Learn more about transactions here brainly.com/question/5007419

#SPJ4

6 0
1 year ago
A company sells DVD players for $200 per unit. The players have a unit variable cost of $160. The company estimates that it will
Archy [21]

Answer:

Break-even point= 1,200 DVDs

Explanation:

F<u>irst, we need to calculate the sales proportion:</u>

DVD= 4/5= 0.8

Home entertainment= 1/5= 0.2

<u>Now, we need to calculate the break-even point for the whole company:</u>

Break-even point (units)= Total fixed costs / Weighted average contribution margin

Weighted average contribution margin= (weighted average selling price - weighted average unitary variable cost)

Weighted average contribution margin= (200*0.8 + 600*0.2) - (160*0.8 + 460*0.2)

Weighted average contribution margin= 60

Break-even point (units)= 90,000/60= 1,500

<u>Finally, the number of DVDs:</u>

DVD= 1,500*0.8= 1,200 DVDs

5 0
3 years ago
At year end, CurlZ, Inc.'s inventory consists of 370 bottles of CleanZ at $3 per bottle and 270 boxes of DyeZ at $10 per box. Ma
sasho [114]

Answer:

$3,270

Explanation:

Inventory should be value at lower of cost and market value.

Bottles of CleanZ:

Cost of inventory = Bottles of CleanZ × Price per bottle

                             = 370 × $3

                             = $1,110

Market value of inventory:

= Bottles of CleanZ × Market value per bottle

= 370 × $3.20 per bottle

= $1,184

Lowest of cost and market value of inventory is $1,110.

Boxes of DyeZ:

Cost of inventory = Boxes of DyeZ × Price per box

                             = 270 × $10

                             = $2,700

Market value of inventory:

= Boxes of DyeZ × Market value per box

= 270 × $8 per box

= $2,160

Lowest of cost and market value of inventory is $2,160.

Therefore, the DyeZ. CurlZ should report its inventory at:

= Lowest of cost and market value of inventor for (CleanZ + DyeZ)

= $1,110 + $2,160

= $3,270

3 0
3 years ago
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