Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the controller of blossom company estimates sales

The controller of Blossom Company estimates sales and production for the first four months of...

50.1K

Verified Solution

Question

Accounting

image
image
The controller of Blossom Company estimates sales and production for the first four months of 2022 as follows: Sales are 40% cash and 60% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 40% of credit sales are collected. It takes 4kg of direct materials to produce a finished unit, and direct materials cost $5 per kg. All direct materials purchases are on account, and are paid as follows: 40% in the month of the purchase and 60% the following month. Ending direct materials inventory for each month is 40% of the next month's production needs. January's beginning materials inventory is 1,010kg. Suppose that both accounts receivable and accounts payable are zero at the beginning of January. What are cash payments on account for February

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

Finance
1.2K views

2. What are the advantages and disadvantages of the friendly versus hostile approaches to a corporate...

Statistics
1.2K views

1. In the iris data, build a linear regression model to predict Sepal.Length based on both...

Biology
1.2K views

Describe how you can determine if the gene is interrupted and, if so, the number of...

Psychology
1.2K views

Apply psychodynamic theory to such delinquent acts as shoplifting and breaking and entering a house.

Physics
1.2K views

12 A block of mass m is moving with a constant 12 acceleration a on...

Physics
1.2K views

In a stationary wave all particles are 1 At rest at the same time twice...

Basic Math
1.2K views

A student at Pine Valley high school would like to find the mean number of...

Basic Math
1.2K views

The rabbit population of Springfield, Ohio was 144,000 in 2016. It is expected to decrease...

Accounting
1.2K views

The following balance sheet information is provided for Patton...

Accounting
1.2K views

Help Save & E Badour Inc. is a...

Accounting
1.2K views

explain it in excel please (Use cells A6 to B12 from the given...

Finance
1.2K views

The Morrit Corporation has $660,000 of debt outstanding, and it pays an interest rate of...