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PLEASE HELP WITH BOTH QUESTIONS!!! A company has budgeted direct materials purchases of $280,000 in July and $340,000 in August. Past experience indicates that the
PLEASE HELP WITH BOTH QUESTIONS!!!
A company has budgeted direct materials purchases of $280,000 in July and $340,000 in August. Past experience indicates that the company pays for 60% of its purchases in the month of purchase and the remaining 40% in the next month. During August, the fallowine itame wans hiudeatar. Tne buogeted casn aispursements ror August are: Enter your answer in whole dollars with a comma separating the hundreds and thousands. Do not include a dollar sign. For instance, the number 123456 would be entered as 123.456 5 points Grizzly, Inc, estimates its sales at 300,000 units in the first quarter and that sales will increase by 25,000 units each quarter over the year. They have, and desire, a 25% ending inventory of finished goods. Each unit sells for $54.10% of the sales are for cash. 65% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at: Enter your answer as a whole dollar with commas between the hundreds, thousands and millions, and no dollar sign. For example, if your answer is 123456789 , enter the anower as 123.456.789 Step by Step Solution
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