Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 2 Q#1 HASF and company is a retails hardware store information about the store operations follows November 2017 sales 400000 Sales are budgeted 440,000

QUESTION 2

  1. Q#1 HASF and company is a retails hardware store information about the store operations follows
    November 2017 sales 400000
    Sales are budgeted 440,000 for December and 4 00,000 for January 2018
    Credit sales typically are 60% of total sales Collection are expected to 50% in the month of sales and 50% in the month following sales
    Gross profit margin 40%
    A total of 60% of the merchandise for resale its purchase in the month prior to the month of sales and 40% is purchase in the month of sales payment for merchandise is made in the month following the purchase
    Other month expenses paid in cash amount 45,200
    Annual depreciation is 432,000
    The company balance sheet as of November 30 2017 is as follow
    HASF Hardware inc
    Balance sheet
    As on November 30 2018
    Cash 44,000
    A/c receivable 152,000
    Inventory 280,000
    Property plant and equipment 1,724,000
    Total assets 2,200,000
    a/c payable 324,000
    common stock 1,590,000
    Retained earning 286,000
    Total liabilities and owner equity

    2,200,000

    Amount of credit sales in Dec
    Amount of cash sales in Dec
    Amount of cash will be received from Nov sales
    Amount of cash will be received from Dec credit sales
    Total amount of cash will be received in Dec
    Value of Purchase in the month of Dec
    Cash disburstment for inventory purchase in Dec
    Total cash disburstment in Dec
    Beginning cash balance in Dec
    total cash will be available before disbursment
    Excess or Deficiency balance at Dec 31
    Value of cost of goods sold in Dec 31
    Gross profit in Dec 31
    net profit in Dec 31

Required

1) _______________________labor cost per unit if company produce 22,500 unit ( cost behavior patterns not change )

2) ______________________cost of fixed manufactuirng over head if company produce 22,500 unit ( cost behavior patterns not change )

3) ______________________cost of fixed selling and administartive exp if company produce 22,500 unit ( cost behavior patterns not change )

4) _______________________per unit cost of porducation if company produce 22,500 units

5) _______________________Per unit gross profit if selling price will not change

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For MBAs

Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally

3rd Edition

0978727932, 978-0978727932

More Books

Students also viewed these Accounting questions

Question

=+c) Compute the CV and RRR for each decision.

Answered: 1 week ago

Question

5. How can we use language to enhance skill in perceiving?

Answered: 1 week ago

Question

What actions might have prevented Bobs resignation?

Answered: 1 week ago