Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist budget preparation:
the marketing department has estimated sales as follows:
july: $36,000 august: $82,000 September : $51,000. October: $26,000 November : $12,500 December: $13,000
the selling price of each umbrella is $15/unit
All sales are on account. Based on past experience, sales are collected in the following pattern:
30% in the month of sale /. 65% in the month following sale / 5% uncontrollable
Sales for June totalled $465,000
the company maintaines finished goods inventories equal to 15% of the following months sales. This requirement will be met at the end of June.
Each umbrella requires 4 feet of Gilden, a metal that is sometimes hard to acquire. The company requires the ending inventory of Gilden be equal to 50% of the following month’s production needs. The inventory of Gilden on hand at the beginning and at the end of the quarter will be:
June 30: 85,800 feet. September 30: ? feet
Gilden costs $.60/foot. One half of a month’s purchases of Gilden is paid in the month of purchase and the remainder is paid for the following month. The A/P on July 1st for purchases of Gilden during June will be $44,790
1) calculate the estimated sales, my month and in total for the third quarter
2) calculate the expected cash collections by month and in total for the third quarter
3) calculate the estimated quantity of beach umbrellas that need to be produced in July August September and October
4) calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total for the quarter
5) calculate the cost of the raw material (Gilden) purchases by month and in total for the quarter
6) calculate the expected cash disbursements for raw material (Gilden) purchases by month and in total for the quarter

Answers

Answer 1

The total cash collections for the third quarter is $216,200. The estimated total sales for the third quarter is $169,000. The total cash disbursements for Gilden purchases in the third quarter is $1,039.80.

1) To calculate the estimated sales for the third quarter, we need to add up the estimated sales for each month. July: $36,000 + August: $82,000 + September: $51,000 = $169,000.

The estimated total sales for the third quarter is $169,000.

2) To calculate the expected cash collections by month, we use the given sales collection pattern. In July, 30% of June's sales ($465,000) is collected, which is $139,500. In August, 65% of July's sales ($36,000) is collected, which is $23,400. In September, 65% of August's sales ($82,000) is collected, which is $53,300.

The total cash collections for the third quarter is $216,200.

3) To calculate the estimated quantity of beach umbrellas that need to be produced, we divide the estimated sales for each month by the selling price of each umbrella. In July, $36,000 / $15 = 2,400 umbrellas. In August, $82,000 / $15 = 5,466.67 umbrellas (rounded to 5,467). In September, $51,000 / $15 = 3,400 umbrellas.

In October, $26,000 / $15 = 1,733.33 umbrellas (rounded to 1,733).

4) To calculate the quantity of Gilden needed to be purchased, we need to consider the ending inventory requirement. In September, the ending inventory of Gilden needs to be 50% of October's production needs. Since October's production needs are 1,733 umbrellas (from question 3), the ending inventory of Gilden on September 30th should be 50% of 1,733 umbrellas * 4 feet = 3,466 feet.

5) To calculate the cost of the raw material (Gilden) purchases, we multiply the quantity of Gilden needed (from question 4) by the cost per foot of Gilden. The cost per foot of Gilden is $0.60.

Therefore, the cost of Gilden purchases in September is 3,466 feet * $0.60 = $2,079.60.

6) To calculate the expected cash disbursements for raw material (Gilden) purchases, we need to consider the payment terms.

Half of a month's purchases are paid in the month of purchase, and the remainder is paid the following month. So, in September, the cash disbursement for Gilden purchases made in September is half of the purchases made in September, which is $2,079.60 / 2 = $1,039.80.

The total cash disbursements for Gilden purchases in the third quarter is $1,039.80.

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Related Questions

how are wages determined in a free market?

Answers

Answer:

Classical economists argue that wages—the price of labor—are determined (like all prices) by supply and demand. They call this the market theory of wage determination. ... Long story short: the price of labor is determined in the free market just like every other price, by the intersection of supply and demand.

Explanation:

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How long does a trademark last? _____ five years fifteen years twenty years ten years

Answers

Answer:

10 years.

Explanation:

Answer:

ten years

Explanation:

How long does a trademark last? _____ five years fifteen years twenty years ten years

Politically speaking, which party is more apt to engage in regulatory practices over the business?

Answers

In the United States polity, the political party that is likely to wield more regulatory practices over the business is the Democratic party.

Why should the Democratic Party be more rigorous with regulatory practices over the business?

The Republican Party is noted for its support of right-wing beliefs such as libertarianism, social conservatism, and economic libertarianism, among others. As a result, Republicans typically advocate for conservative values, little government intervention, and strong support for the private sector.

In contrast, the Democratic Party prefers a mixed economy and typically supports a progressive tax structure, increased minimum wages, Social Security, universal health care, public education, and subsidized housing. It also encourages infrastructure development and sustainable energy investments in order to spur economic growth and employment creation.

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please show me the steps in detail
The supply for a particular item is given by the function S(x) = 0.02 +0.05 Vr? Find the producer's surplus if the equilibrium price of a unit $1.27. Round to the nearest cent. The producer's surplus

Answers

the producer's surplus is approximately $15.63.To calculate the producer's surplus, we need to find the area between the supply curve and the equilibrium price.

Given the supply function S(x) = 0.02 + 0.05x, where x represents the quantity supplied, we need to find the value of x at the equilibrium price of $1.27.

Setting the equilibrium price equal to the supply function:

1.27 = 0.02 + 0.05x

0.05x = 1.27 - 0.02

0.05x = 1.25

x = 1.25 / 0.05

x = 25

Now, to calculate the producer's surplus, we need to find the area between the supply curve and the equilibrium price up to the quantity of 25.

Producer's Surplus = (1/2) * (1.27 - 0.02) * 25

Producer's Surplus = 0.625 * 25

Producer's Surplus = $15.63

Therefore, the producer's surplus is approximately $15.63.

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The primary reason apple established production facilities in china for its iphone was to capitalize on.

Answers

The main reason for Apple establishing production facilities in China for its iPhone was to capitalize on low labor costs.

Understand how the company aimed to manufacture its products at a low cost. Apple Inc. has established manufacturing facilities in China, including facilities in Shenzhen, Zhengzhou, and Chengdu, to take advantage of low labor costs and the availability of high-tech equipment in the region.

Due to its skilled labor and ability to mass-produce electronics, China has become the world's largest electronics manufacturing hub. Therefore, Apple Inc. made the decision to establish production facilities in China to benefit from the country's abundant labor force and lower labor costs, which significantly contributed to the development of the iPhone and the growth of the Apple Inc. brand.

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What does a pharmacist do in medical sector?​

Answers

Answer:

Pharmacists are healthcare professionals who specialize in the right way to use, store, preserve, and provide medicine.

the managers of a production line that fills cereal boxes would like to reach a six sigma level of quality in terms of product weight. the desired range of output extends from 10 to 16 ounces. in order to reach six sigma quality, what would the maximum standard deviation of output need to be?

Answers

The maximum standard deviation of output needs to be will be 0.5 ounces

The deviation is a measure used in statistics and mathematics to find the difference between the observed and expected values of a variable. The deviation is simply the distance from the center point.

Sentence Examples of Deviation

It was a departure from his usual routine for him to drink juice instead of coffee. The pattern deviates significantly from the norm.

A deviation is defined as any unwelcome event that deviates from the approved processes, procedures, instructions, specifications, or established standards.

Deviations are possible during the manufacturing, packing, sampling, and testing of pharmaceutical products. Deviations are classified into three types: critical, major, and minor.

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GDP is calculated by adding the income of all entities in the US. Then GNI is calculated by adjusting GDP first by deducting made to other countries from received from other countries. Then, are subtracted from the received from other countries. Finally, property and business-related transfer payments made to other countries for foreign income are deducted.

Answers

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Jason is a technician at Johns Hopkins Hospital and earns $19.84 an hour. His boss informed him that he can earn time and a half (1.5) for all hours he works over his regular 40 hours. This week he worked 51 hours. What will be his gross pay for the week?

Answers

Answer:

$1120.96

Explanation:

19.84 x 40 = 793.60

19.84 x 1.5 = 29.76 x 11 = 327.36

793.60 + 327.36 = 1120.96

If sales at a coffee shop increase:
a) variable costs per unit will decrease b) total variable costs will increase c) fixed costs will increase d) total variable costs will decrease

Answers

If sales at a coffee shop increase, the correct answer would be b) total variable costs will increase. This is because variable costs are expenses that increase or decrease with changes in production or sales volume.

Examples of variable costs for a coffee shop may include the cost of coffee beans, milk, and cups. As sales increase, so does the need for ingredients and supplies to produce more coffee.

It is important to note that while variable costs per unit may remain constant or even decrease slightly due to economies of scale, the total variable costs will still increase as more units are produced and sold. This is because the increase in sales leads to an increase in the number of units produced and sold, which in turn increases the amount of variable costs incurred.

Fixed costs, on the other hand, remain the same regardless of changes in sales volume. Examples of fixed costs for a coffee shop may include rent, salaries, and insurance premiums. These costs do not fluctuate based on sales volume and therefore would not increase as a result of an increase in sales.

In conclusion, an increase in sales at a coffee shop would lead to an increase in total variable costs due to the increased need for ingredients and supplies. Fixed costs would not be affected by changes in sales volume.

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Identify the quantitative research design appropriate for each of... Identify the quantitative research design appropriate for each of the following research titles. Justify your answers in three to f

Answers

In research design, the research design describes the plan and strategy used to collect information, analyze the data, and then finally interpret the results obtained. The appropriate quantitative research design for each of the following research titles are as follows:

Title: The effect of technology on student performance.Research design: Experimental design.Justification: An experimental research design will be appropriate for this research title. This is because the research intends to investigate the effect of technology on students' performance. The experimental design will enable the researcher to compare the effects of technology on student performance in a controlled environment where the dependent variable will be assessed.Title: Factors that influence shopping habits.Research design: Correlational design.Justification: The correlational research design will be appropriate for this research title. The research aims to identify the factors that influence shopping habits, and a correlational research design will enable the researcher to examine the relationship between these factors and the shopping habits of individuals.Title: The effects of rewards on employee motivation.Research design: Quasi-experimental design.Justification: A quasi-experimental design is appropriate for this research title. This is because the research intends to examine the effects of rewards on employee motivation. A quasi-experimental design will enable the researcher to compare the effects of rewards on employee motivation in different settings. Hence, it is appropriate for this research design.The answer to the question is given by the following table:Research TitleResearch DesignJustificationThe effect of technology on student performanceExperimental designThe research intends to investigate the effect of technology on students' performance.Factors that influence shopping habit Correlational designThe research aims to identify the factors that influence shopping habits.The effects of rewards on employee motivationQuasi-experimental designThe research intends to examine the effects of rewards on employee motivation.

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Which would be the LEAST helpful to you as you begin to explore future
careers?
trace careers in my family
O interview someone in a career I'm considering
research a career I'm considering
wait until I graduate high school to figure it out

Answers

Answer:

Waiting until you graduate high school to figure out your future career is the least helpful.

Answer:

D ( the last one )

Explanation:

Finding a career takes time. Its something that you love to do or passionate about. Waiting till high school isn't a good idea because your going to have lots of pressure and may ending up not getting a job. therefore the answer is D

How investment tax credit and employment tax credit can be used to address unemployment?

Answers

Answer:

Investment tax credit means that companies will pay less taxes if they invest in new projects. These new projects will need people to work on them for it to be successful. When companies take advantage of investment tax credits therefore and invest, they end up hiring people which would reduce unemployment.

Employment tax credit has a more direct effect on unemployment. It reduces taxes per worker hired so if an employer wants to take advantage of this, they should employ more people which would directly reduce unemployment.

Which of the following forms of Regionalism have a common trade policy with outsiders? Custom Union Common Market Economic Union All of the above

Answers

The correct answer is all of the above. All of the above forms of Regionalism have a common trade policy with outsiders. In a Customs Union, member countries agree to adopt a common external tariff on imports from non-member countries.

In a Common Market, in addition to a common external tariff, member countries also allow the free movement of goods, services, and factors of production (such as labor and capital) among themselves. In an Economic Union, member countries not only have a common external tariff and free movement of goods, services, and factors of production, but they also coordinate their economic policies, including fiscal, monetary, and social policies. All of the above forms of Regionalism have a common trade policy with outsiders. In a Customs Union, member countries agree to adopt a common external tariff on imports from non-member countries.

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Hey everyone, I just thought you all should know that...
you are AMAZING
you are BEAUTIFUL
you are SMART
you are KIND
you are NOT going to give up on your FIGHT
and you better stay ALIVE!!! <33

Answers

Answer:

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Nico bought 100 shares of Cisco Systems stock for $24.00 per share on January 1, 2002. He received a dividend of $2.00 per share at the end of 2002 and $3.00 per share at the end of 2003. At the end of 2004, Nico collected a dividend of $4.00 per share and sold his stock for $18.00 per share. What was Nico's realized return during the three year holding period? What was Nico's compound annual rate of

Answers

Answer:

12.5%

Explanation:

It is given that :

Nico bought shares from Cisco Systems = 100 shares

The stock of 100 shares on 1st Jan 2002 = $ 24 per share

At the end of 2002, Nico received a dividend = $ 2 per share

At the end of 2003, Nico received a dividend = $ 3 per share

At the end of 2004, Nico received a dividend = $ 4 per share

Nico sold his stock = $ 18 per share

Therefore,

The holding period \($=\frac{(\text{dividend + end value - initial value })}{\text{initial value}}$\)

                                \($=\frac{(\$2+\$3+\$4)+\$18-\$24}{\$ \ 24}$\)

                                \($= 12.5 \%$\)

On January 1, 2021, Strato Corporation borrowed $2 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $776,067 on December 31 of each year. The payments include interest at a rate of 8%.
1. Record the receipt of cash from the issue of note payable.
2. Prepare an amortization schedule over the three-year life of the installment note.

Answers

Once the debt principal has now been completely amortized, the ending balance is $0. (repaid).

What does amortization mean?

Amortization often describes the process of reducing the value of an intangible asset or a loan. Lenders, including financial institutions, present a loan payback schedule based on an exact maturity date using amortization schedules.

Is amortization a good thing?

Small businesses benefit from amortization because each time they make a payment, interest and principle are included in a clear, predetermined amount. An amortized loan enables the principal and interest to be spread out over time, creating a more sustainable repayment schedule.

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Question Content AreaKate is considering an investment in a retail shopping mall. The initial investment is $630,000. She expects to receive cash income of $90,000 a year. What is the payback period? a.7 years b.12 years c.5 years d.2 years e.15 years

Answers

The payback period of making an investment in a retail shopping mall is 7 years.

Option A is the correct answer.

What is a payback period?

A payback period is one of the techniques of capital budgeting that tells about how much time the investment amount got recovered by the company.

Given values:

Cost of investment: $630,000

Yearly cash flows: $90,000

Computation of payback period of the retail investment:

\(\rm\ Payback \rm\ Period=\frac{\rm\ Cost \rm\ of \rm\ Investment}{\rm\ Yearly \rm\ Cash \rm\ flows} \\\rm\ Payback \rm\ Period=\frac{\$630,000}{\$90,000} \\\rm\ Payback \rm\ Period=7\rm\ years\)

Therefore, when the retail investment of $630,000 made with annual cash flows of $90,000 provides a payback period of 7 years.

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Which step of the legislative process is missing?
with answers in screenshot

Which step of the legislative process is missing?with answers in screenshot

Answers

The bill is voted on by senate

PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE
Manni wants to start a paper company. He needs to find a place where he can have access to lumber so he can create his products. Which category of economic resource does he require?


labor



entrepreneurial ability



land

Answers

What is a “work point”?

Answers

Answer:

A work point is an independent entity whose location is defined in space.

Explanation:

Work points may be placed or projected onto part faces, linear edges, or onto an arc or circle. Work points can be constrained to the center points of arcs, circles, and ellipses.

Use the drop-down menus to explain how to create a subreport. 1. Open the table in view. 2. On the Design tab, click Min Grouping & Totals. 3. Select "with a footer section" from a drop-down menu in a pane below. 4. Next, choose Subform/Subreport from the command group. 5. Place the cursor at an insertion point. Then, to create a space. 6. In the Subreport Wizard, choose what you want to include in the subreport from the main table. 7. Once you are satisfied, create a name for the subreport, and click Finish. DO NOT PUT ANY FILES JUST THE ANSWER.​

Answers

Answer:

design

group and sort

control

click and drag

Explanation:

gg

Primetime Incorporated is a retailer of sporting gear. It sells 500 pairs of a specific Nike sneaker each day. Nike, the supplier, takes a week (7 days) to deliver the order. For what quantity should the inventory manager place his/her next order?​

Answers

Answer:

3500 units

Explanation:

The quantity at which the Primetime inventory manager places his/her next order is the reorder point.

The reorder point is the minimum quantity of inventory that a business should have in its store.

The reorder point is calculated using the formula below.

(Average daily unit sales x delivery lead time) + safety stock

For Primetime, safety stock is not mentioned

reorder point =500 units x 7 days

=3500 units

the idea that a decrease in the price level raises the real value of households’ money holdings, which increases consumer spending and the quantity of goods and services demanded is known as

Answers

Answer:

The idea that a decrease in the price level raises the real value of households’ money holdings, which increases consumer spending and the quantity of goods and services demanded is known as the wealth effect.

According to this theory, as the price level falls, the real value of money holdings increases, making consumers feel wealthier and increasing their willingness to spend. This increased spending then leads to an increase in the quantity of goods and services demanded.

Explanation:

Using your notes and the chapter, answer these questions from the bottom of Page 48:
1. Describe the four types of major shifts the United States has experienced with its economy, starting with the 1600s.
2. What is shown by the following economic indicators:
• GDP
o unemployment rate
o rate of inflation
o national debt
3. How does an individual influence the economy?
4. Give an example of one way the government might influence the economy.
5. List the four stages of the business cycle and give a brief description of each stage.

Answers

Answer An economic indicator is a piece of economic data, usually of macroeconomic scale, that is used by analysts to interpret current or future investment possibilities. These indicators also help to judge the overall health of an economy.

Economic indicators can be anything the investor chooses, but specific pieces of data released by the government and non-profit organizations have become widely followed.

Explanation:

The policy is really tight on cash and wants to trim down their insurance premiums so they can devote more of their budget to paying off a large credit card debt.which coverage makes the most sense to eliminate

Answers

The  coverage that makes the most sense to eliminate is d. They cannot eliminate any of this coverage -- it is all required by Federal law

What is the policy?

The purpose of accident coverage is to support financial help for the repair or replacement of a vehicle that has maintained damage in an accident, however the party responsible for the accident.

Therefore,  If the vehicle's profit is low, it might be ridiculous to invest in accident coverage, especially if the inferable is high, eventually resulting in the policyholder bearing a solid part of the repair expenses from their own pocket.

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8.The policyholder is really tight on cash and wants to trim down their insurancepremiums so they can devote more of their budget to paying off a large credit carddebt. Which coverage makes the most sense to eliminate?a.Liability coverage, because it is the most expensive part of their billb.Collision coverage, because their car is quite old and the deductible is relativelyhighc.Uninsured motor vehicle coverage, because they already have car insurance, sothey won’t ever be uninsuredd.They cannot eliminate any of this coverage -- it is all required by Federal law

Today, nearly 60% of the college graduates are women. Is this true or false?

Answers

The statement "Today, nearly 60% of college graduates are women" is true.What is the percentage of women among the college graduates? According to a report from the U.S. Department of Education, the percentage of female college graduates in the United States rose from 44.5% in 1970 to 57.2% in 2016, which is more than half.  

This implies that women have made significant progress in achieving equal educational opportunities with men over the last few decades. The statement "Today, nearly 60% of college graduates are women" is true.What is the percentage of women among the college graduates? According to a report from the U.S. Department of Education, the percentage of female college graduates in the United States rose from 44.5% in 1970 to 57.2% in 2016, which is more than half.  

According to a report from the U.S. Department of Education, the percentage of female college graduates in the United States rose from 44.5% in 1970 to 57.2% in 2016, which is more than half.  This implies that women have made significant progress in achieving equal educational opportunities with men over the last few decades. The statement "Today, nearly 60% of college graduates are women" is true.What is the percentage of women among the college graduates? According to a report from the U.S. Department of Education, the percentage of female college graduates in the United States rose from 44.5% in 1970 to 57.2% in 2016, which is more than half.  

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deadline for filing income tax returns that have received extensions

Answers

Third quarter 2023 estimated tax payment is due on September 15, 2023. The deadline to submit your 2022 extended tax return is October 16, 2023. This is the deadline for submitting your tax return if you opted to request an extension.

What occurs if taxes are still unpaid after the extension?

For each month that you are late, penalties for filing might increase by 5% of the tax owed. The minimum fine is $100 or 100% of the tax owed with the return, whichever is less, if you are more than 60 days late. By requesting the extension by the deadline, the penalty file is destroyed.

What occurs if you submit your taxes late but don't have any outstanding debt?

There is no penalty for filing a late return after the tax deadline if a refund is due. If you didn't file and owe tax, file a return as soon as you can and pay as much as possible to reduce penalties and interest.

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how many servings of mashed potatoes in a 5 pound bag

Answers

It depends on the serving size, but a rough estimate would be around 10-12 servings in a 5 pound bag.

The number of servings in a 5 pound bag of mashed potatoes can vary depending on the serving size. A serving size can range from 1/2 cup to 1 cup, depending on how much mashed potatoes a person wants to consume. If we assume a serving size of 1/2 cup, then a 5 pound bag would yield approximately 20 servings. However, if we assume a serving size of 1 cup, then a 5 pound bag would yield around 10 servings.

When it comes to determining the number of servings in a 5 pound bag of mashed potatoes, there are several factors to consider. First, you need to determine the serving size. This can vary depending on individual preferences and dietary requirements. Some people may be satisfied with a 1/2 cup serving of mashed potatoes, while others may prefer a larger serving size of 1 cup or more.

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An extremely rainy spring and summer may impact growing crops. This is an example of what type of risk

Answers

Answer:

Environmental risk

Explanation:

In simple words, The environmental risk of farming refers to the affect that various agricultural activities have on the environments in which they operate, as well as how those impacts can be linked to those practices. Agriculture's ecological influence varies greatly depending on the activities used by growers as well as the size at which they operate.

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