Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. matthew company has a sales budget for last month

Matthew Company has a sales budget for last month of $400,000. Cost of goods sold...

70.2K

Verified Solution

Question

Accounting

Matthew Company has a sales budget for last month of $400,000. Cost of goods sold is expected to be 40% of sales. All units are paid for in the month following purchase. The beginning inventory is $5,000 and an ending inventory of $12,000 is desired. Beginning accounts payable is $76,000. The costs of goods solf for the next month is

a) $220,000

b) $160,000

c) $172,000

d) $140,000

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A metallic ore deposit of massive shape is given. The ore is reasonably strong to support...

Civil Engineering
Q

1) What is endosymbiosis? Which organelles may have arisen this way? What evidence is there for...

Biology
Q

. Make a presentation to show what/how energy conservation measures can be used for lighting controls...

Civil Engineering
Q

Please explain the differences in how two different news organizations (The Huffington Post and Fox News)...

Psychology
Q

QAn ideal p n junction diode can withstand currents up to 10mA under forward bias...

Physics
Q

A ball of mass 10 kg is held under the surface of a pool. The...

Physics
Q

Two particles of equal mass go around a circle of radius r under the action...

Physics
Q

4 The doctor ordered Tagamet 480 mg po q8h The label on the bottle reads...

Basic Math
Q

2 Use the expanded accounting equation to compute the missing financial statement amounts Complete this...

Basic Math
Q

2. Super Toys Ltd super Toys Ltd manufactures low-range mechanical toys. Fixed costs...

Accounting
Q

Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning...

Accounting
Q

which of the following types of accounts is not insured for $250000 by the fdic...

Finance