Yokeley Enterprises recorded sales of $160,000 during March. Management expects sales to increase 5% in April, 3% in May, and 5% in June. Cost of goods sold is expected to be 70% of sales. What is the budgeted gross profit for June?

1)        Yokeley Enterprises recorded sales of $160,000 during March. Management expects sales to increase 5% in April, 3% in May, and 5% in June. Cost of goods sold is expected to be 70% of sales. What is the budgeted gross profit for June?

A)  $54,508

 B) $112,000 

C) $127,184 

D)  $181,692

2)        Lan Corporation had beginning inventory of 42,000 units and expects sales of 96,000 units during the year. Desired ending inventory is 31,000 units. How many units should Lan Corporation produce?

A)      65,000 units

B)       73,000 units

C)   85,000 units

1)        Refer to Case 21-1. What is the desired beginning inventory on June 1? A)  $36,000

B) $39,600 

C) $43,200  

D)  $46,800

2)        Refer to Case 21-1. What is the desired ending inventory on May 31? A)  $28,800

B) $43,200  

C) $46,800  

D)  $72,000

3)        Refer to Case 21-1. What is the desired cost of goods sold for May? A)  $43,200

B) $72,000  

C) $132,000 

 D)  $144,000

4)        Refer to Case 21-1. What are the total purchases budgeted for April? A)  $72,000

B) $108,000 

C) $115,200 

 D)  $147,600

5)        Refer to Case 21-1. What are the total purchases budgeted for May? A)  $132,000

B) $135,600  

C) $139,200 

 D)  $175,200

 

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