Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. slate electronics sells tablets. its sales budget

Slate Electronics sells tablets. Its sales budget for the nine months ended September 30 follows...

70.2K

Verified Solution

Question

Accounting

Slate Electronics sells tablets. Its sales budget for the nine months ended September 30 follows

In the past, cost of goods sold has been 60% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $10,000 plus20% of cost of goods sold for the following quarter. The marketing director expects sales of$230,000 during the fourth quarter. The January 1 inventory was $25,600.

Slate Electronics

Sales Budget

For the Nine Months Ended September 30

Quarter Ended

Mar 31 Jun 30 Sep 30 Nine-Month Total

Cash sales, 40%. . $52,000 $72,000 $62,000 $186,000

Credits sales, 60%. . . .78,000 108,000 93,000 279,000

Total sales, 100%. . . . .$130,000 $180,000 $155,000 $465,000

Slate Electronics

Cost of Goods Sold, Inventory, and Purchases Budget

For the Nine Months Ended September 30

Quarter Ended

Mar 31 Jun 30 Sep 30 Nine-Month Total

Cost of goods sold

Plus: Desired ending inventory

Total inventory required

Less: Beginning inventory

Purchases

Purchases

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

nslate complex roots Write the answer in

Basic Math
Q

a. Explain what the Rutherford dispersion consists of and derive the relationship between the impact parameter and...

Physics
Q

Multiple Choice/ Arduino Review -The Arduino uses what to assign analog values? a. Sine waves b. PWM c. Square...

Electrical Engineering
Q

What is the core factor that can induce heritable changes in the genotype frequency of...

Biology
Q

How would you explain to a student that filling in the boxes in part (a)...

Basic Math
Q

Do CPAs performing investigative services need to be independent? Why or why not?

Accounting
Q

[The following information applies to the questions displayed below.] The comparative financial statements for...

Accounting
Q

Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end...

Accounting
Q

A bond has a face value of 8,000 $ and bond rate of 5% paid...

Accounting
Q

1. A Stocks return has the distribution as shown in the table below. Calculate the...

Finance
Q

Case 1, Please anwer the following questions. What do you think about the Financial Crisis...

Finance
Q

Jane desires to have $70,000. If she expects to earn 8.5 percent (compounded annually) on...

Finance