Question
Ayayai Company estimates that 2017 sales will be $43,200 in quarter 1, $53,300 in quarter 2, and $58,400 in quarter 3. Cost of goods sold
Ayayai Company estimates that 2017 sales will be $43,200 in quarter 1, $53,300 in quarter 2, and $58,400 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 12% of the next quarters expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2017.
AYAYAI COMPANY Merchandise Purchases Budget choose the accounting period For the Quarter Ending June 30, 2017June 30, 2017 For the Six Months Ending June 30, 2017 | |||||
---|---|---|---|---|---|
Quarter | |||||
1 | 2 | Six Months | |||
select a budget item Required Merchandise PurchasesDirect Materials Per UnitTotalDesired Ending Merchandise InventoryBeginning Direct MaterialsBudgeted Cost of Goods SoldBeginning Merchandise InventoryDesired Ending Finished Goods InventoryDirect Materials Purchases | $enter a dollar amount | $enter a dollar amount | |||
select between addition and deduction AddLess: select a budget item Beginning Direct MaterialsDirect Materials PurchasesBudgeted Cost of Goods SoldDesired Ending Finished Goods InventoryDirect Materials Per UnitTotalRequired Merchandise PurchasesDesired Ending Merchandise InventoryBeginning Merchandise Inventory | enter a dollar amount | enter a dollar amount | |||
select a closing subsection name Budgeted Cost of Goods SoldDirect Materials Per UnitDesired Ending Merchandise InventoryRequired Merchandise PurchasesBeginning Direct MaterialsDirect Materials PurchasesBeginning Merchandise InventoryTotalDesired Ending Finished Goods Inventory | enter a subtotal of the two previous amounts | enter a subtotal of the two previous amounts | |||
select between addition and deduction AddLess: select a budget item Desired Ending Merchandise InventoryBeginning Merchandise InventoryBeginning Direct MaterialsTotalBudgeted Cost of Goods SoldRequired Merchandise PurchasesDirect Materials PurchasesDirect Materials Per UnitDesired Ending Finished Goods Inventory | enter a dollar amount | enter a dollar amount | |||
select a closing section name Direct Materials PurchasesBeginning Merchandise InventoryBeginning Direct MaterialsDesired Ending Merchandise InventoryDesired Ending Finished Goods InventoryTotalBudgeted Cost of Goods SoldRequired Merchandise PurchasesDirect Materials Per Unit | $enter a total amount | $enter a total amount | $enter a total amount |
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