Question
Zeller Company estimates that 2020 sales will be $40,600 in quarter 1, $52,700 in quarter 2, and $67,000 in quarter 3. Cost of goods sold
Zeller Company estimates that 2020 sales will be $40,600 in quarter 1, $52,700 in quarter 2, and $67,000 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 20% of the next quarter's expected cost of goods sold.
Prepare a merchandise purchases budget by quarter for the first 6 months of 2020.
ZELLER COMPANY
Merchandise Purchases Budget
choose the accounting periodFor the Six Months Ending June 30, 2020June 30, 2020For the Quarter Ending June 30, 2020 For the Six Months Ending June 30, 2020June 30, 2020For the Quarter Ending June 30, 2020
Quarter
1
2
Six Months
select an opening merchandise purchases budget itemTotal Required UnitsRequired Merchandise PurchasesDirect Materials Per UnitBudgeted Cost of Goods SoldBeginning Direct MaterialsDirect Materials PurchasesDesired Ending Finished Goods InventoryBeginning Merchandise InventoryDesired Ending Merchandise Inventory Beginning Merchandise InventoryBeginning Direct MaterialsDesired Ending Merchandise InventoryDesired Ending Finished Goods InventoryDirect Materials Per UnitDirect Materials PurchasesBudgeted Cost of Goods SoldRequired Merchandise PurchasesTotal Required Units
$enter a dollar amount
$enter a dollar amount
select between addition and deductionAddLess AddLess:select an item Direct Materials Per UnitBeginning Merchandise InventoryRequired Merchandise PurchasesDirect Materials PurchasesDesired Ending Finished Goods InventoryDesired Ending Merchandise InventoryBeginning Direct MaterialsTotal Required UnitsBudgeted Cost of Goods Sold Beginning Merchandise InventoryBeginning Direct MaterialsDesired Ending Merchandise InventoryDesired Ending Finished Goods InventoryDirect Materials Per UnitDirect Materials PurchasesBudgeted Cost of Goods SoldRequired Merchandise PurchasesTotal Required Units
enter a dollar amountenter a dollar amountselect a summarizing line for the first partDirect Materials PurchasesDirect Materials Per UnitBeginning Direct MaterialsBudgeted Cost of Goods SoldRequired Merchandise PurchasesDesired Ending Merchandise InventoryTotal Required UnitsDesired Ending Finished Goods InventoryBeginning Merchandise Inventory Beginning Merchandise InventoryBeginning Direct MaterialsDesired Ending Merchandise InventoryDesired Ending Finished Goods InventoryDirect Materials Per UnitDirect Materials PurchasesBudgeted Cost of Goods SoldRequired Merchandise PurchasesTotal Required Units
enter a total amount for the first part
enter a total amount for the first part
select between addition and deductionAddLess AddLess:select an item Beginning Merchandise InventoryTotal Required UnitsDesired Ending Merchandise InventoryDesired Ending Finished Goods InventoryDirect Materials PurchasesRequired Merchandise PurchasesBeginning Direct MaterialsDirect Materials Per UnitBudgeted Cost of Goods Sold Beginning Merchandise InventoryBeginning Direct MaterialsDesired Ending Merchandise InventoryDesired Ending Finished Goods InventoryDirect Materials Per UnitDirect Materials PurchasesBudgeted Cost of Goods SoldRequired Merchandise PurchasesTotal Required Units
enter a dollar amountenter a dollar amountselect a closing merchandise purchases budget itemDesired Ending Finished Goods InventoryBeginning Merchandise InventoryDirect Materials PurchasesBeginning Direct MaterialsBudgeted Cost of Goods SoldDesired Ending Merchandise InventoryDirect Materials Per UnitTotal Required UnitsRequired Merchandise Purchases Beginning Merchandise InventoryBeginning Direct MaterialsDesired Ending Merchandise InventoryDesired Ending Finished Goods InventoryDirect Materials Per UnitDirect Materials PurchasesBudgeted Cost of Goods SoldRequired Merchandise PurchasesTotal Required Units
$enter a total amount for this budget
$enter a total amount for this budget
$enter a total amount for this budget
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