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Category > Management Posted 19 Dec 2017 My Price 10.00

to determine October’s expected cash payments

Exercise 20-5 Merchandising: Computing budgeted cash payments for purchases LO P1

Hardy Company’s cost of goods sold is consistently 60% of sales. The company plans to carry ending merchandise inventory for each month equal to 20% of the next month’s budgeted cost of good sold. All merchandise is purchased on credit, and 50% of the purchases made during a month is paid for in that month. Another 35% is paid for during the first month after purchase, and the remaining 15% is paid for during the second month after purchase. Expected sales are: August (actual), $325,000; September (actual), $320,000; October (estimated), $250,000; November (estimated), $310,000.

 

Use this information to determine October’s expected cash payments for purchases.

Use this information to determine October’s expected cash payments for purchases.

Calculate Monthly Purchases August to November

Calculate Payments Made for Inventory (purchases Paid in)August to October and after OCtober

 

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CourseLover
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Status NEW Posted 19 Dec 2017 06:12 AM My Price 10.00

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