Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 02 Aug 2017 My Price 1.00

Salinger Inc.,

Salinger Inc., budgeted sales of 30,000 units of its product in January, 2016. Budgeted inventory balances are:

 

January 1 January 31

Finished Goods (units) 6,500 5,600

 

Required:

A. What is the expected production in units for January, 2016?

 

 

 

 

 

 

 

 

 

 

 

 

 

B. Pynchon Enterprises expects to make the following sales revenue in the first quarter of the calendar year 2016 as follows:

January February March

Sales $180,000 $135,000 $162,000

25% of the sales are on account (accounts receivable), while the other 75% are for cash. The collection pattern for Pynchon's accounts receivable follows:

Collections for:

Current month's credit sales........... 50%

First month after credit sales.......... 30%

Second month after credit sales..... 18%

Uncollectible Accounts Receivable..2%

 

Required:

How much will the expected cash receipts amount to for the month of March, 2016?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C. Poe Corporation had budgeted operating income for 2015 of $6,300,000. The actual operating income was $6,556,000. The flexible-budget operating income was $6,930,000.

Required:

1. Calculate the total static-budget variance.

 

 

 

 

 

2. Calculate the total flexible-budget variance.

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Aug 2017 09:08 PM My Price 1.00

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