MANAGERIAL ACCOUNTING FOR THE HOSPITALITY INDUSTRY HFT 4474 Homework: Homework 6 core: 4.41 of 10 pts 3) P22-42A (similar to) Omaha Office Supply's March 31, 2018, balance sheet follows: !!! (Click the icon to view the balance sheet) Requirement 1. Prepare Omaha's sales budget for April and May 2018. Round all amounts to the nearest dolla Omaha Office Supply Sales Budget April and May, 2018 April May Total budgeted sales $ 100,000 S 102,000 Requirement 2. Prepare Omaha's inventory, purchases, and cost of goods sold budget for April and May Omaha Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April Cost of goods sold 50,000 Plus Desired ending merchandise inventory 21.750 Total merchandise inventory required 71,750 Loss Beginning merchandise inventory 21.500 51,000 22.000 73,000 21750 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing L e tworkId=552307295&questionid=1&flushed=fal MANAGERIAL ACCOUNTING FOR THE HOSPITALITY INDUSTRY HET 4474 Homework: Homework 6 Score: 4.41 of 10 pts P22-42A (similar to) Omaha Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet.) Requirement 2. Prepare Omaha's inventory, purchases, and cost of goods sold budget for April and May. Omaha Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required 50,000 21.750 51,000 22.000 Less: Beginning merchandise inventory 71,750 21,500 50,250 73,000 21,750 51,250 Budgeted Purchases Requirement 3. Prepare Omaha's selling and administrative expense budget for April and May. Omaha Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Score: 4.41 of 10 pts % P22-42A (similar to) Omaha Office Supply's March 31, 2018, balance sheet follows: :: (Click the icon to view the balance sheet.) Budgeted Purchases 50,250 Requirement 3. Prepare Omaha's selling and administrative expense budget for April and Ma Omaha Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Variable expenses: Commissions Expense Fixed expenses: Salaries Expense Rent Expense Depreciation Expense Insurance Expense Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then click Check Answer All parts showing 1 of 1 (1 complete) Data Table Omaha Office Supply Balance Sheet March 31, 2018 Assets Current Assets Cash 23,000 Accounts Receivable Merchandise Inventory 18,000 21,500 1,000 $ 63.500 Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation Total Assets Liabilities 56,000 (24.000) 32,000 95,500 Current Liabilities: Accounts Pavable 10 000 Print Done 1 of 1 (1 complete) i Data Table - X 1,000 $ 63,500 Prepaid Insurance Total Current Assets Property, Plant, and Equipment Equipment and Fixtures 56,000 (24,000) Less: Accumulated Depreciation 32,000 Total Assets 95,500 Liabilities Current Liabilities: Accounts Payable 10,000 3,600 Salaries and Commissions Payable Total Liabilities Stockholders' Equity $ 13,600 Common Stock, no par 13,000 68,900 Retained Earnings 81,900 Total Stockholders' Equity $ 95,500 Total Liabilities and Stockholders' Equity Print Done TUL(compile) The budget committee of Omaha Office Supp (Click the icon to view the data.) Read the requirements. 51,250 i Requirements 1. Prepare Omaha's sales budget for April and May 2018. Round all calculations to the nearest dollar 2. Prepare Omaha's inventory, purchases, and cost of goods sold budget for April and May. 3. Prepare Omaha's selling and administrative expense budget for April and May Print Done ck Answer Clear All MANAGERIAL ACCOUNTING FOR THE HOSPITALITY INDUSTRY HFT 4474 Homework: Homework 6 core: 4.41 of 10 pts 3) P22-42A (similar to) Omaha Office Supply's March 31, 2018, balance sheet follows: !!! (Click the icon to view the balance sheet) Requirement 1. Prepare Omaha's sales budget for April and May 2018. Round all amounts to the nearest dolla Omaha Office Supply Sales Budget April and May, 2018 April May Total budgeted sales $ 100,000 S 102,000 Requirement 2. Prepare Omaha's inventory, purchases, and cost of goods sold budget for April and May Omaha Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April Cost of goods sold 50,000 Plus Desired ending merchandise inventory 21.750 Total merchandise inventory required 71,750 Loss Beginning merchandise inventory 21.500 51,000 22.000 73,000 21750 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing L e tworkId=552307295&questionid=1&flushed=fal MANAGERIAL ACCOUNTING FOR THE HOSPITALITY INDUSTRY HET 4474 Homework: Homework 6 Score: 4.41 of 10 pts P22-42A (similar to) Omaha Office Supply's March 31, 2018, balance sheet follows: (Click the icon to view the balance sheet.) Requirement 2. Prepare Omaha's inventory, purchases, and cost of goods sold budget for April and May. Omaha Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required 50,000 21.750 51,000 22.000 Less: Beginning merchandise inventory 71,750 21,500 50,250 73,000 21,750 51,250 Budgeted Purchases Requirement 3. Prepare Omaha's selling and administrative expense budget for April and May. Omaha Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Score: 4.41 of 10 pts % P22-42A (similar to) Omaha Office Supply's March 31, 2018, balance sheet follows: :: (Click the icon to view the balance sheet.) Budgeted Purchases 50,250 Requirement 3. Prepare Omaha's selling and administrative expense budget for April and Ma Omaha Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Variable expenses: Commissions Expense Fixed expenses: Salaries Expense Rent Expense Depreciation Expense Insurance Expense Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then click Check Answer All parts showing 1 of 1 (1 complete) Data Table Omaha Office Supply Balance Sheet March 31, 2018 Assets Current Assets Cash 23,000 Accounts Receivable Merchandise Inventory 18,000 21,500 1,000 $ 63.500 Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation Total Assets Liabilities 56,000 (24.000) 32,000 95,500 Current Liabilities: Accounts Pavable 10 000 Print Done 1 of 1 (1 complete) i Data Table - X 1,000 $ 63,500 Prepaid Insurance Total Current Assets Property, Plant, and Equipment Equipment and Fixtures 56,000 (24,000) Less: Accumulated Depreciation 32,000 Total Assets 95,500 Liabilities Current Liabilities: Accounts Payable 10,000 3,600 Salaries and Commissions Payable Total Liabilities Stockholders' Equity $ 13,600 Common Stock, no par 13,000 68,900 Retained Earnings 81,900 Total Stockholders' Equity $ 95,500 Total Liabilities and Stockholders' Equity Print Done TUL(compile) The budget committee of Omaha Office Supp (Click the icon to view the data.) Read the requirements. 51,250 i Requirements 1. Prepare Omaha's sales budget for April and May 2018. Round all calculations to the nearest dollar 2. Prepare Omaha's inventory, purchases, and cost of goods sold budget for April and May. 3. Prepare Omaha's selling and administrative expense budget for April and May Print Done ck Answer Clear All