5 Managerial Accounting Problems

See attached file for clarity.

1. The manager of MN Company give you the following data to prepare the required purchases for the coming three months (January, February and March)

Estimated sales for January $ 100,000
Sales increase by 5% for the coming three months
Cost of goods sold (CGS) 60% of sales
Beginning inventory $ 12,000
Ending inventory equal to 20% 0f next month CGS
Find the total purchases needed for February.

1. between $60,000 and $61,000

2. between $63,000 and $64,000

3. between $66,000 and $67,000

4. between $68,000 and $69,000

2. The manager of MN Company give you the following data to prepare the required purchases for the coming three months (January, February and March)

Estimated sales for January $ 100,000
Sales increase by 5% for the coming three months
Cost of goods sold (CGS) 60% of sales
Beginning inventory $ 12,000
Ending inventory equal to 20% 0f next month CGS
Find the total purchases needed for March.

1. between $60,000 and $61,000

2. between $63,000 and $64,000

3. between $66,000 and $67,000

4. between $68,000 and $69,000

3. The manager of MN Company give you the following data to prepare the required purchases for the coming three months (January, February and March)

Estimated sales for January $ 100,000
Sales increase by 5% for the coming three months
Cost of goods sold (CGS) 60% of sales
Beginning inventory $ 12,000
Ending inventory equal to 20% 0f next month CGS
Find the total purchases needed for January.

1. between $60,000 and $61,000

2. between $63,000 and $64,000

3. between $66,000 and $67,000

4. between $68,000 and $69,000

4. Assume the following data pertains to ABC Company
Estimated average selling price per unit $10.00
Estimated units to be sold in 8-2009 1,000.00
Estimated increase in unit sales 10%
Month 8 9 10 11
Units 1,000 1,100 1,210 1,331
Selling price per unit $ 10.00 $ 10.00 $ 10.00 $ 10.00
Total estimated sales $ 10,000.00 $ 11,000.00 $12,100.00 $13,310.00
Assume
Cost of goods sold (CGS) 65% of sales
Month 8 9 10
Estimated CGS $ 6,500.00 $ 7,150.00 $ 7,865.00 $ 8,651.50
Assume
Beginning inventory $ 2,100.00
Ending inventory 20% next month CGS
Find the purchases needed for September

1. Between $5,200 and $5,300

2. Between $7,200 and $7,300

3. Between $5,800 and $5,900

4. Between $8,00 and $8,100

5. Assume the following data pertains to ABC Company
Estimated average selling price per unit $10.00
Estimated units to be sold in 8-2009 1,000.00
Estimated increase in unit sales 10%
Month 8 9 10 11
Units 1,000 1,100 1,210 1,331
Selling price per unit $ 10.00 $ 10.00 $ 10.00 $ 10.00
Total estimated sales $ 10,000.00 $ 11,000.00 $12,100.00 $13,310.00
Assume
Cost of goods sold (CGS) 65% of sales
Month 8 9 10
Estimated CGS $ 6,500.00 $ 7,150.00 $ 7,865.00 $ 8,651.50
Assume
Beginning inventory $ 2,100.00
Ending inventory 20% next month CGS
Find the purchases needed for August

1. Between $5,200 and $5,300

2. Between $7,200 and $7,300

3. Between $5,800 and $5,900

4. Between $8,00 and $8,100