This pack of ACC 206 Week 5 Chapter 22 P 22-22A includes:<\/b><\/p>\n
Preparing an operating budget<\/p>\n
Thumbtack’s March 31, 2012, budgeted balance sheet follows:<\/p>\n
The budget committee of Thumbtack Office Supply has assembled the following data.<\/p>\n
a. Sales in April were $40,000. You forecast that monthly sales will increase 2% over April’s sales in May. June’s sales will increase 4% over April’s sales. July’s sales will increase 20% over April’s sales. Collections are 80% in the month of sale and 20% in the month following sale.<\/p>\n
b. Thumbtack maintains inventory of $11,000 plus 25% of the COGS budgeted for the following month. COGS = 50% of sales revenue. Purchases are paid 30% in the month of purchase and 70% in the month following the purchase.<\/p>\n
c. Monthly salaries amount to $7,000. Sales commissions equal 5% of sales for that month. Salaries and commissions are paid 30% in the month incurred and 70% in the following month.<\/p>\n
d. Other monthly expenses are as follows:<\/p>\n
Requirements<\/p>\n
1. Prepare Thumbtack’s sales budget for April and May, 2012. Round all amounts to the nearest $1.<\/p>\n
2. Prepare Thumbtack’s inventory, purchases, and cost of goods sold budget for April and May.<\/p>\n
3. Prepare Thumbtack’s operating expenses budget for April and May.<\/p>\n
4. Prepare Thumbtack’s budgeted income statement for April and May.<\/p>\n
Note: We recommend you solve this and the related problems (P22-23A and P22-24A) using Excel templates that you create.<\/p>\n","protected":false},"excerpt":{"rendered":"
This pack of ACC 206 Week 5 Chapter 22 P 22-22A includes: Preparing an operating budget Thumbtack’s March 31, 2012, budgeted balance sheet follows: The budget committee of Thumbtack Office Supply has assembled the following data. a. Sales in April Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-49419","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=49419"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49419\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=49419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=49419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=49419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}