Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. upstairs company has the following data: month

Upstairs Company has the following data: Month Budgeted Sales January $112,000...

60.1K

Verified Solution

Question

Accounting

Upstairs Company has the following data:

Month Budgeted Sales

January $112,000

February 125,000

March 132,000

April 120,000

The gross profit rate is 40% of sales and ending inventory at December 31 was $26,325. Desired ending inventory levels are 25% of next month's sales at cost. What are the expected total purchases for March?

A) $77,400

B) $86,480

C) $100,750

D) $105,575

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

1. If n=10, ¯ x (x-bar)=43, and s=10, find the margin of error at a 95%...

Statistics
Q

Consider the network shown in Fig. 12.20. Let us determine the resonant frequency, the voltage...

Electrical Engineering
Q

Briefly explain in your own words the benefits of extracurricular activities

Psychology
Q

13 Prove these quadrilateral are parallelograms using the following formulas 2 x x x 325...

Geometry
Q

Fill in the blank to complete the trigonometric formula 1 cos 2u 1 cos 2u...

Calculus
Q

Graph the derivative of the function graphed on the right Choose the correct graph below...

Algebra
Q

! Required information [The following information applies to the questions displayed below.] ...

Accounting
Q

Question Required: (a) Using the financial statements, compute the following ratios for Sun...

Accounting
Q

The consolidated financial statements of Nestl are as follows: ...

Accounting
Q

Pompeii, Inc., has sales of $54,500, costs of $24,800, depreciation expense of $2,700, and interest...

Finance
Q

Is a taxpayer allowed to change their election to itemize deductions once a return is...

Accounting
Q

Smash Head Burgers pays 40% of its purchases on account in the month of the...

Accounting