Distributor XYZ purchases chemicals that show definite price seasonality throughout the year. Demand for the chemical is constant throughout the year at 2,000 tanks per month and you can only place order at odd months (Jan, Mar, May, July, Sep and Nov). Inventory holding charge at XYZ is estimated at $200/tank/year. Order setup cost is $50/order. Prices charged by the supplier throughout the year are projected as follows: Month Price ($/tank) Jan - Feb 50 Mar - Apr 48 47 46 May - June July - Aug Sep - Oct Nov - Dec 60 64 Consider a mixed buying strategy: using the hand-to-mouth strategy from Jan - June and forward buying from Jul - Dec. Specify the following costs: Item Cost: $ Order Setup Cost: $ Average Annual Holding Cost: $

On june 1 of the current year, chad wilson established a business to manage rental property. he completed the following transactions during june: opened a business bank account with a deposit of $28,000 from personal funds. purchased office supplies on account, $2,690. received cash from fees earned for managing rental property, $7,390. paid rent on office and equipment for the month, $3,310. paid creditors on account, $1,230. billed customers for fees earned for managing rental property, $6,130. paid automobile expenses (including rental charges) for the month, $740, and miscellaneous expenses, $370. paid office salaries, $2,330. determined that the cost of supplies on hand was $1,590; therefore, the cost of supplies used was $1,100. withdrew cash for personal use, $2,210. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300) answer

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?

The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be: