Cash sales are 30% of total sales and all credit sales are expected to be collected in the month after the sale. What is the total amount of cash expected to be received from customers in May?

High Sounds manufactures wind chimes that have a standard material cost of 2 pounds of raw materials at $1.50 per pound. During March, 10,000 pounds of raw materials costing $1.55 per pound were used in making 4,800 wind chimes. What is the (1) materials price and (2) quantity variance?

(10,000x$1.55=15,000)-(10,000x$1.55=15,500)
=15,500-15,000
= 500

Quote:

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Originally Posted by AJRCrystal

High Sounds manufactures wind chimes that have a standard material cost of 2 pounds of raw materials at $1.50 per pound. During March, 10,000 pounds of raw materials costing $1.55 per pound were used in making 4,800 wind chimes. What is the (1) materials price and (2) quantity variance?

(10,000x$1.55=15,000)-(10,000x$1.55=15,500)
=15,500-15,000
= 500

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It is AMHD policy not to do homework - please post your answer and someone will come along to review it.

You don't learn anything if an AMHD member does the work for you.

Quote:

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Originally Posted by AJRCrystal

Cash sales are 30% of total sales and all credit sales are expected to be collected in the month after the sale. What is the total amount of cash expected to be received from customers in May?

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It is AMHD policy not to do homework - please post your answer and someone will come along to review it.

You don't learn anything if an AMHD member does the work for you.

My concern with people answering your other questions for you is exactly this - more questions.

Please - it's against AMHD policy.

22. The Butterfly Corporation had the following information that pertained to its March budget:
Budgeted sales are $200,000 for February.
Collections of sales are 50% in the month of sale and 50% the next month.
Cost of goods sold averages 70% of sales.
Merchandise purchases total $150,000 in February.
Marketing costs are $3000 each month.
Administrative costs are $15,000 each month.

What is the budgeted gross margin in dollars for February?

Gross profit= ($200,000+150,000=350,000-18,000)-232,400
=332,000-22,400
31%

Quote:

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Originally Posted by AJRCrystal

22. The Butterfly Corporation had the following information that pertained to its March budget:
Budgeted sales are $200,000 for February.
Collections of sales are 50% in the month of sale and 50% the next month.
Cost of goods sold averages 70% of sales.
Merchandise purchases total $150,000 in February.
Marketing costs are $3000 each month.
Administrative costs are $15,000 each month.

What is the budgeted gross margin in dollars for February?

Gross profit= ($200,000+150,000=350,000-18,000)-232,400
=332,000-22,400
31%

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Please stop posting your homework - 3 times so far today.

It is AMHD policy not to do homework - please post your answer and someone will come along to review it.

You don't learn anything if an AMHD member does the work for you.

Quote:

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Originally Posted by JudyKayTee

It is AMHD policy not to do homework - please post your answer and someone will come along to review it.

You don't learn anything if an AMHD member does the work for you.

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This is my work I posted

(10,000x$1.55=15,000)-(10,000x$1.55=15,500)
=15,500-15,000
= 500