User Account

All Pages

Prepare a sales budget by quarter for the next year

Assignment Help Financial Accounting
Reference no: EM13864477

Locksafe Company manufactures burglar-resistant commercial door locks. Recently, the company began selling locks on the Web, and the company expects sales to increase dramatically compared to the prior year. For the past year, unit sales were as follows:

First Quarter

23,000

Second Quarter

28,000

Third Quarter

27,000

Fourth Quarter

32,000

Assume that sales for each quarter in the next year will be 25 percent higher than they were in the previous year and the selling price per lock is $15.

Based on this information prepare a sales budget by quarter for the next year.

Reference no: EM13864477

Questions Cloud

What are the effects of inventory errors : There may be instances of incorrect recording of inventory data in the books of account. As closing inventory is carried forward in the general ledger of the next accounting period, as opening inventory, an incorrect recording of inventory in one acc..
Accounting for inventory under perpetual inventory system : Discuss the advantages and disadvantages of accounting for inventory under the perpetual inventory system.
What does that say about pressures for change : Did that pressure make you change or "dig in your heels" and refuse to change? What does that say about pressures for change? Does it always lead to change
The aicpas definition of forensic accounting : Which is not one of the six areas of litigation services that the AICPA committee suggested in 1986? What was the smoking gun to convict Al Capone? Which would not be included in the AICPA's definition of forensic accounting?
Prepare a sales budget by quarter for the next year : Locksafe Company manufactures burglar-resistant commercial door locks. Recently, the company began selling locks on the Web. Based on this information prepare a sales budget by quarter for the next year.
Plagiarism is considered to be fraud : A forensic audit is generally a sampling activity. The smoking gun to convict Al Capone was a cash receipts journal with Capone's name on it. A forensic accountant does not search public records. Plagiarism is considered to be fraud.
Generally classified as current liability : Which of the following is generally classified as a current liability? Which of the following taxes would be subtracted in calculating an employee's net pay? Anton Company issued an $80,000, 6%, 120-day note payable to Bailey Company on June 8th. Wha..
Calculate average cost for each given unit : Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Calculate average cost for each unit.
Journal entry to record the accrual of these wages : During October, Dorinirl Corporation incurred $60,000 of direct labor costs and $5,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Finance lease lessee and lessor

Finance lease - lessee and lessor

  Calculation of allowance for doubtful accounts bad

calculation of allowance for doubtful accounts bad debts.near the end of 20b the ledger of diko company included the

  Activity based costing provides more accurate allocation

According to a varied contingent in the accounting industry, Activity Based Costing provides more accurate allocation of overhead costs then by using a single plant-wide overhead rate. Others state that the reverse is true.

  Prepare the required journal entries for unrelated items

Prepare the required journal entries for the following unrelated items. A 5% stock dividend is declared and distributed at a time when the market value of the shares is $39 per share.

  As industries has on january 1st20x1 purchased a new

as industries has on january 1st20x1 purchased a new production facility - a factory building. you are given the

  Calculate gain or loss on sale of the asset

Blue should have taken $910 and $7,272 cost recovery in 2009 and 2010. On January 1, 2011, the asset was sold for $180,000. Calculate gain or loss on the sale of the asset in 2011.

  Determine cost of landdiscount delivery company acquired an

determine cost of landdiscount delivery company acquired an adjacent lot to construct a new warehouse paying 25000 and

  How should vivian and melvin record the transactions

On January 1, year 1, Melvin Corporation promises to "unconditionally" transfer a building that cost $100,000 (appraised recently at $300,000) to the Vivian Company on January 1, year 2 for a boat she bought for $250,000. As of December 31, year 2

  What is painless expense variance

What is Painless' expense variance? Is the total expense variance favourable or unfavourable and was the net impact of the two variances helpful or harmful to the economic health of the organisation?

  Depreciate assets

Are non-profit and governments required to depreciate assets

  Question hall company had sales in 2012 of 1500000 on 60000

question hall company had sales in 2012 of 1500000 on 60000 units. variable costs totaled 720000 and fixed costs

  Case study question 1read headline health rates as top

case study question 1read headline health rates as top social issue. would you expect management to worry about

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd