Question
In: Accounting
Aztec, Inc. had sales as follows during 2017: Quarter 1 7,000 units Quarter 2 8,000 units...
Aztec, Inc. had sales as follows during 2017:
|
Quarter 1 |
7,000 units |
|
Quarter 2 |
8,000 units |
|
Quarter 3 |
9,000 units |
|
Quarter 4 |
8,000 units |
Aztec expects sales in each quarter of 2018 to be 10% more than the respective quarters for 2017. If each unit sells for $100, what amounts will appear as sales revenue in the quarterly sales budgets for 2018?
-
$770,000; $880,000; $990,000; $880,000
-
$630,000; $720,000; $810,000; $720,000
Solutions
Expert Solution
| Right anser is Option a. $770,000 ; $880,000 ; $990,000 ; $880,000 |
| Unit Sales | |||
| 2018 | Price per unit | Sales Revenue | |
| Quarter 1 | 7,700 | $100 | $770,000 |
| Quarter 2 | 8,800 | $100 | $880,000 |
| Quarter 3 | 9,900 | $100 | $990,000 |
| Quarter 4 | 8,800 | $100 | $880,000 |
| Calculation of units for 2018 | |||
| Unit Sales | |||
| 2017 | 2018 | ||
| Quarter 1 | 7,000 | 7,700 | =7000*110% |
| Quarter 2 | 8,000 | 8,800 | =8000*110% |
| Quarter 3 | 9,000 | 9,900 | =9000*110% |
| Quarter 4 | 8,000 | 8,800 | =8000*110% |
ekkarill92 answered 2 years agoRelated Solutions
Sales Budget XYZ Company 2018 sales forecast is as follows: Quarter 1: 7,000 Product Ace units....
Sales Budget
XYZ Company 2018 sales forecast is as follows:
Quarter 1: 7,000 Product Ace units. Quarter 2: 9,000 Product Ace
units. Quarter 3: 10,000 Product Ace units. Quarter 4: 12,000
Product Ace units
Each unit sells for $60
Production Budget
The January 1, 2018 beginning inventory of Product Ace is 4,000
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30% of the next Quarter's sales. Sales in the first and second
quarter of 2019 are expected to...
Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units...
Rensing Ltd. estimates sales for the second quarter of 2017 will
be as follows. Month Units April 2,530 May 2,420 June 2,310 The
target ending inventory of finished products is as follows. March
31 2,050 April 30 2,300 May 31 2,100 June 30 2,300 2 units of
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for July is estimated at 2,710 units to start building inventory
for the fall sales period. Rensing’s policy is to have an inventory...
Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units...
Rensing Ltd. estimates sales for the second quarter of 2017 will
be as follows.
Month
Units
April
2,590
May
2,450
June
2,360
The target ending inventory of finished products is as
follows.
March 31
2,030
April 30
2,240
May 31
2,170
June 30
2,330
2 units of material are required for each unit of finished product.
Production for July is estimated at 2,620 units to start building
inventory for the fall sales period. Rensing’s policy is to have an
inventory...
Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units...
Rensing Ltd. estimates sales for the second quarter of 2017 will
be as follows.
Month
Units
April
2,600
May
2,420
June
2,320
The target ending inventory of finished products is as
follows.
March 31
2,010
April 30
2,270
May 31
2,100
June 30
2,360
2 units of material are required for each unit of finished product.
Production for July is estimated at 2,670 units to start building
inventory for the fall sales period. Rensing’s policy is to have an
inventory...
Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units...
Rensing Ltd. estimates sales for the second quarter of 2017 will
be as follows.
Month
Units
April
2,600
May
2,500
June
2,380
The target ending inventory of finished products is as
follows.
March 31
2,030
April 30
2,290
May 31
2,140
June 30
2,380
2 units of material are required for each unit of finished product.
Production for July is estimated at 2,780 units to start building
inventory for the fall sales period. Rensing’s policy is to have an
inventory...
Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units...
Rensing Ltd. estimates sales for the second quarter of 2017 will
be as follows.
Month
Units
April
2,560
May
2,420
June
2,340
The target ending inventory of finished products is as
follows.
March 31
2,040
April 30
2,200
May 31
2,200
June 30
2,300
2 units of material are required for each unit of finished product.
Production for July is estimated at 2,800 units to start building
inventory for the fall sales period. Rensing’s policy is to have an
inventory...
Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units...
Rensing Ltd. estimates sales for the second quarter of 2017 will
be as follows.
Month Units
April 2,520
May 2,440
June 2,390
The target ending inventory of finished products is as
follows.
March 31 2,010
April 30 2,280
May 31 2,170
June 30 2,330
2 units of material are required for each unit of finished
product. Production for July is estimated at 2,750 units to start
building inventory for the fall sales period. Rensing’s policy is
to have an inventory...
Chorus, Inc. expects quarterly sales volume for 2017 as follows: 1) 40,000 units; 2) 60,000; 3)...
Chorus, Inc. expects quarterly sales volume for 2017 as follows:
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Additionally, Chorus expects quarterly sales volume for 2018 as
follows: 1) 70,000 units; 2) 80,000; 3) 75,000; and 4) 85,000.
Chorus has an inventory policy which requires ending finished goods
inventory to be 30% of budgeted sales for the next quarter.
(T or F) The amount of production necessary to meet the expected
sales for 2017 is 275,000 units.
Company budgeted sales in units for the next four months as follows: July 7,000 units August...
Company budgeted sales in units for the next four months as
follows:
July
7,000 units
August
5,000 units
September
6,500 units
1. Prepare the sales budget for the
company knowing that each unit is sold for $50. (1 pt)
2. Past experience has shown that the
ending inventory for each month should be equal to 20% of the next
month's sales in units. The inventory in the beginning of July was
only 1,000 units, & the inventory on September 30...
For 2017, Rockford, Inc., had sales of 150,000 units and production of 200,000 units. Other information...
For
2017, Rockford, Inc., had sales of 150,000 units and production of
200,000 units. Other information for the year included:
Direct Manufacturing labor $197,500
Variable Manufactuing overhead $100,000
direct materials $ 160,000
variable selling expenses $100,000
fixed administrative expenses $100,000
fixes manufacturing overhead $250,000
There was no begining inventory
compute the ending finished goods inventory under both
absorption and varaiable costing.
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