Humboldt, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April May. June, and July. April May June July
Budgeted cost of goods sold $37,500 $34,000 $30,880 $45,090
Humboldt had a beginning inventory balance of $1800 on April 1 and a beginning balance in accounts payable of $7400. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Humboldt makes all purchases on account The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase.
Required
a. Prepare an inventory purchases budget for April, May, and June.
b. Determine the amount of ending inventory Humboldt will report on the end-of-quarter pro forma balance sheet.
c. Prepare a schedule of cash payments for inventory for April, May and June
d. Determine the balance in accounts payable Humboldt will report on the end-of-quarter pro forma balance sheet

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $

Which career pathways require workers to train at special academies? a.emts and emergency dispatchers b.crossing guards and lifeguards c.police officers and firefighters d.lawyers and judges

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?