Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Scale Production Budget Weightless Inc. produces a Bath and Gym version of its popular electronic scale. The anticipated unit sales for the scales by sales

image text in transcribed
image text in transcribed
Scale Production Budget Weightless Inc. produces a Bath and Gym version of its popular electronic scale. The anticipated unit sales for the scales by sales region are as follows: Bath Gymn Scale East Region unit sales 25,500 38,200 West Region unit sales 27,500 28,900 Total 53,000 67,100 The finished goods inventory estimated for October 1, for the Bath and Gym scale models is 1,100 and 2,400 units, respectively. The desired finished goods inventory for October 31 for the Bath and Gym scale models is 800 and 2,600 units, respectively Prepare a production budget for the small and large scales for the month ended October 31. For those boxes in which you must enter subtracted or negative numbers use a minus sign Weightless Inc. Production Budget For the Month Ending October 31 Units Bath Scale Units Gym Scale Total Total units to be produced Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $290,000 June 360,000 July 540,000 All sales are on account of sales on account, 60% are expected to be collected in the month of the sale, 36% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for May, June, and July. Pet Place Supplies Inc. Schedule of Cash Collections from Sales For the Three Months Ending July 31 May July May sales on account: Collected in May Collected in June Collected in July June sales on account: Collected in June Collected in July July sales on account: Collected in July June O OOO Total cash collected

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions