Cameroon Corp. manufactures and sells electric staplers for $17 each. If 14,400

Question

Cameroon Corp. manufactures and sells electric staplers for $17 each. If 14,400 units were sold in December, and management forecasts 5% growth in sales each month, the number of electric stapler sales budgeted for February should be: Multiple Choice 14,400 16,670 15,120 15,876 15,840 A sporting equipment store expects to purchase $8,100 of ski boots in October. The store had $2,900 of ski boots in merchandise inventory at the beginning of October, and expects to have $1,900 of ski boots in merchandise inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October? Multiple Choice $11,000. $10,000. $9,100. $4,800. $8,100.

Explanation / Answer

a) the number of electric stapler sales budgeted for February should be

Budgeted sale for february = (14400*1.05*1.05) = 15876

so answer is d) 15876

What is the budgeted cost of goods sold for October?

Cost of goods sold = Beginning inventory+purchase-Ending inventory

= 2900+8100-1900

Cost of goods sold = $9100

so answer is c) $9100

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