Bayside Distributors’ sales budget for the first quarter is as follows: The company’s policy is to set selling prices to earn a 40% gross profit on sales revenue and to maintain an ending inventory balance equal to 30% of the next month’s cost of goods sold. What is the dollar amount of inventory purchases that is budgeted for the month of February? 

Which of the following statements are true? A manufacturing company always treats depreciation as a period cost. Depreciation on equipment that a company uses in its selling and administrative activities is treated as a period cost. 

Bandana Corporation, a merchandising firm, has budgeted its activity for the month of May based on the following assumptions: All sales are cash sales and all selling and administrative expenses are paid in cash. In addition, cost of goods sold is 75% of sales revenue and all purchases are paid for in cash. What is Bandana’s budgeted operating income for May? Round to the nearest whole dollar and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

Auto Mart Corporation operates six auto dealerships in Florida, including one in Tampa. Here are data regarding the company’s results of operations for the month of July:  Each auto dealership has three departments—new vehicles, used vehicles and auto repair services. The central auto parts warehouse serves all six dealerships. What is the total amount of direct costs related to the Tampa dealership’s new vehicles department? 

Which of the following statements are true? A manufacturing company always treats depreciation as a period cost. Depreciation on equipment that a company uses in its selling and administrative activities is treated as a period cost. 

Auto Mart Corporation operates six auto dealerships in Florida, including one in Tampa. Here are data regarding the company’s results of operations for the month of July:  Each auto dealership has three departments—new vehicles, used vehicles and auto repair services. The central auto parts warehouse serves all six dealerships. What is the total amount of direct costs related to the Tampa dealership’s new vehicles department? 

Palm Office Supply Company’s budget for the month of October includes the following projections: beginning inventory of $270,000, inventory purchases of $420,000, and ending inventory of $360,000. Cost of goods sold is budgeted to be 75% of sales. What is the budgeted sales revenue for the month of October? 

The P20 micropipette has this on the top of the plunger: Because this pipette can handle small volumes, you could accurately pipette 1 µL of water.

Decide whether the sentence is correct or incorrect.  As soon as the storm began, the tree branches started falling down.

Decide whether the sentence is correct or incorrect.  Hospital doctors prescribe treatment plans, while nurses carry them out.