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Please show work for questions 7 through 11 if possible. Thank you very much. :) 7. first budget customarily prepared as part of an entity's
Please show work for questions 7 through 11 if possible. Thank you very much. :)
7. first budget customarily prepared as part of an entity's master budget is the........................................ 8. Smithfeld Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are S340,000, $380,000, and $420,000, respectively, for September, october, and November. The company expects to sell 20% of its merchandise for cash. Of the sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. The cash collected in October from cash sales only is................................... S 9. The Martinez Company had a finished goods inventory of55,000 units on January 1. It's projected sales for the next four months were: January 200,000 units; February 180,000 units; March 210,000 units; and April 230,000 units. The Martinez Company wishes to maintain a desired ending finished goods inventory of 30% of the following month's sales. What would the budgeted inventory for February 28 be?.............................................................................................. 10. Which budget presents the expected inflow and outflow of cash for a specified period of time? 11. Budgeted production is 22,000 units. Each unit requires 0.70 pound of steel and 0.30 direct labor hour. Steel is purchased for $45 per pound, and direct labor is S18 per hour. Steel has an estimated beginning inventory of 700 units and a desired ending inventory of200 units. For the period, what is the budgeted direct labor costs Step by Step Solution
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