What is the amount of gargoyle purchases during the month

Assignment Help Accounting Basics

Reference no: EM13136445

JJ Gargoyle Company is preparing their budget for next year. COGS sold has been estimated at fifty percent of sales. Product purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at fifteen percent of sales and are paid during the month of sale. Other operating costs amounting to twenty percent of sales are to be paid in the mo. following the mo. of sales. Sales revenue is forcasted as follows:

Month Sales
Feb $760,000
Mar $492,000
Apr $830,000
May $750,000
Jun $818,000

What is the amount of gargoyle purchases during the month of Apr?

Reference no: EM13136445

Questions Cloud

How much are total overhead costs at this flexible budget : The actual activity level was 110000 direct labor hours so Caldwell prepared a flexible budget at 110,000 labor hours. How much are total overhead costs at this flexible budget level of activity?

Present value of cash inflows for project : Using the net present value method, the present value of cash inflows for Project A is $44,000 and the present value of cash inflows of Project B is $24,000. If Project A and Project B require initial investments of $40,000 and $20,000, respective..

Draw the normal curve model for auto fuel economy : Draw the normal curve model for auto fuel economy, following the 68-95-99.7 rule. Clearly label the X-axis with the mpg for the appropriate points.

Americanization-conservatives-liberals and government : Are we doing enough to "Americanize" children and immigrants to America? Given that political socialization is the key to sustaining important political virtues and attitudes, should we be doing more to reinforce traditional American political val..

What is the amount of gargoyle purchases during the month : JJ Gargoyle Company is preparing their budget for next year. COGS sold has been estimated at fifty percent of sales. Product purchases and payments are to be made during the month preceding the month of sale.

What is its charitable contribution deduction : A clothing manufacturing corporation donates last year’s inventory to the Red Cross for use in its disaster relief efforts. The clothes have a fair market value of $200,000 and a basis to the corporation of $75,000. What is its charitable contrib..

Explain activity-based costing : "Activity-based costing is just another inventory valuation method. It isn't relevant for making operating decisions." Do you agree with this statement? Explain

Conduct a hypothesis test using the level of significance : Conduct a hypothesis test using the .04 level of significance to determine if there is a difference between the population means.

Interest groups-money and democracy : With money replacing time and membership as key parts of the interest group system, describe the impact on American democracy.

User Account

All Pages