Please include calculationsa. What are the total expected cash collections for the year under this revised budget?b. What is the total required production for the year under this revised budget?c. What is the total cost of raw materials to be purchased for the year under this revised budget?d. What are the total expected cash disbursements for raw materials for the year under this revised budget? AutoSaveChapter 8_Applying Excel_Student_FormOffFileHomeInsertDrawPage LayoutFormulasDataReviewA AArialv 10ce Wrap TextabPasteBIUV田、、A.Merge & CenterClipboardFontAlignmentB32fr=B8GH.35 Third-quarter sales.36 Fourth-quarter sales37 Total cash collections3839 Construct the production budgetYear 2 QuarterYear 3 Quarter40123.4Year1241 Budgeted unit sales42 Add desired finished goods inventory43 Total needs44 Less beginning inventory45 Required production??????????4647 Construct the raw materials purchases budgetYear 2 QuarterYear 3 Quarter481Year49 Required production (units)50 Raw materials required to produce one unit51 Production needs (pounds)52 Add desired ending inventory of raw materials (pounds).53 Total needs (pounds)54 Less beginning inventory of raw materials (pounds)55 Raw materials to be purchased56 Cost of raw materials per pound57 Cost of raw materials to be purchased????5859 Construct the schedule of expected cash paymentsYear 2 Quarter6014Year61 Accounts payable, beginning balance62 First-quarter purchases63 Second-quarter purchases64 Third-quarter purchases65 Fourth-quarter purchases66 Total cash disbursements676869707172737475Chapter 8 FormI>15 Arial10- A AE Wrap TextPasteBIUMerge & CenterClipboardFontAlignmentB32fix=B8CDFH.- Chapter 8: Applying ExcelB DataYear 2 QuarterYear 3 Quarter124125 Budgeted unit sales40,00060,000100,00050,00070,00080,000$8 per unit$65,0007· Selling price per unit8 · Accounts receivable, beginning balance9 Sales collected in the quarter sales are made10 • Sales collected in the quarter after sales are made11 Desired ending finished goods inventory is75%Finished goods inventory, beginningRaw materials required to produce one unitDesired ending inventory of raw materials is• Raw materials inventory, beginning16 • Raw material costsRaw materials purchases are paid25%30% of the budgeted unit sales of the next quarter12,000 units5 pounds10% of the next quarter's production needs23,000 pounds$0.80 per pound60% in the quarter the purchases are made40% in the quarter following purchase$81,5001213 •141517 •18and19 · Accounts payable for raw materials, beginning balance2021 Enter a formula into each of the cells marked with a ? below22 Review Problem: Budget Schedules2324 Construct the sales budgetYear 2 QuarterYear 3 Quarter2513.41226 Budgeted unit sales27 Selling price per unit28 Total sales40,000$7$280,0005,000$7$35,00070,000$7$490,00080,000$7$560,00060,000100,000$7$7$700,000$420,0002930 Construct the schedule of expected cash collectionsYear 2 Quarter31Year32 Accounts receivable, beginning balance33 First-quarter sales34 Second-quarter sales35 Third-quarter sales36 Fourth-quarter sales37 Total cash collections65,000?3839 Construct the production budgetYear 2 Quarter3.Year 3 Quarter4012Year141 Budgeted unit salesChapter 8 Form+)Ready

ata Year 2 Quarter Year 3 Quarter 1 3 4 1 udgeted unit sales 40,000 60,000 100,000 50,000 70,000 80,000 $8 per unit $65,000 Selling price per unit Accounts receivable, beginning balance Sales collected in the quarter sales are made Sales collected in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning Raw materials required to produce one unit Desired ending inventory of raw materials is Raw materials inventory, beginning Raw material costs Raw materials purchases are paid 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 and Accounts payable for raw materials, beginning balance

ata Year 2 Quarter Year 3 Quarter 1 3 4 1 udgeted unit sales 40,000 60,000 100,000 50,000 70,000 80,000 $8 per unit $65,000 Selling price per unit Accounts receivable, beginning balance Sales collected in the quarter sales are made Sales collected in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning Raw materials required to produce one unit Desired ending inventory of raw materials is Raw materials inventory, beginning Raw material costs Raw materials purchases are paid 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 and Accounts payable for raw materials, beginning balance

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 1.4C

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Cambria v 14 - A A Number Paste BIUV $ - % 9 58 98 Conditional Formatting Clipboard Font Alignment Number G55 X. v fr A B D E H 1 Step 1: Cash collection schedule Sketch chart of % collected each month Calculate cash vs. credit - enter cash sales amounts Apply % collect to appropriate credit sales Step 2: Cash disbursement schedule Sketch chart of % paid each month Calculate amounts paid each month O Step 3: Formal Cash Budget Enter Cash Collection totals Enter any other cash collected Enter Disbursement schedule totals Enter beginning cash balance Calculate ending cash balance Hand-Out Cash Receipts Budget (Sch 1) September October November August (180,000) September (220,000) October (300,000) November (380,000) 网 lil THI
ezto.mheducation.com/ext/map/index.html?_con3Dcon&external_browser%3D0&launchUrl%3Dhttps%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-g hapter 18- Problems i Saved Help Save & Exit The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: 1 January February $235,000 March Sales $215,000 $258,000 Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. Skipped The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales 24 b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2…
P 00 it View History Bookmarks Window Help 00 A ezto.mheducation.com nt Portal Course Modules: Budgeting and Forecasting 62211 Week 4: Homework Question 3 - Week 4: Homework - Co omework G Saved Help Save & Exit Submit Check my work Information pertaining to Noskey Corporation's sales revenue follows: November 2021 (Actual) $ 180,000 December 2021 (Budgeted) $ 160,000 500,000 January 2022 (Budgeted) Cash sales 000'09 $ 540,000 Credit sales $ 360,000 000'09 Total sales 000'099 2$ Management estimates 5% of credit sales to be uncollectible. Of collectible credit sales, 60% is collected in the month of sale and the remainder in the month following the month of sale. Purchases of inventory each month include 70% of the next month's projected total sales (stated at cost) plus 30% of projected sales for the current month (stated at cost). All inventory purchases are on-account; 25% is paid in the month of purchase, and the remainder is paid in the month following the month of purchase.…
* CengageNOWv2 | Online teachin x .com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3false Cash Budget The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $146,000 $185,000 $248,000 Manufacturing costs 61,000 80,000 89,000 Selling and administrative expenses 42,000 50,000 55,000 Capital expenditures 60,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $7,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in September, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 85% are expected to be…
gageNOWv2 | Online teachin x akeAssignment/takeAssignmentMain.do?invoker=8&takeAssignmentSessionlocator=8inprogress=false eBook Show Me How Print Item Personal Budget At the beginning of the school year, Katherine Malloy decided to prepare a cash budoet for the months of September, October, November, and December. The budget must plan for enough cas on December 31 to pay the spring semester tuition, which is the same as the fall tuition The following information relates to the budget: $6,210 Cash balance, September 1 (from a summer job) 80 Purchase season football tickets in September 220 Additional entertainment for each month 3,400 Pay fall semester tuition in September 300 Pay rent at the beginning of each month 170 Pay for food each month 400 Pay apartment deposit on September 2 (to be returned December 15) 770 Part-time job earnings each month (net of taxes) a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an…
+ I/ An V - MI * 00 關因 T F. PR 44 %#3 @https://ezto.mheducation.com/ext/map/index.html?_con3Dcon&e dit - Chapter 11 & 13 Review Saved Help Save & Exit The Colson Company has budgeted sales for the year as follows: 1. 13,300 15,300 19,200| 17,300 Quarter 2 Sales in units The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units. The finished goods inventory at the start of the year is 4,300 units. Scheduled production for the third quarter is (in units) Multiple Choice 18,725 units. O 19,675 units. Graw < Prev 16 of 20 Next 11!H pe here to search 近 Dツ +D F-4 F7 PrtSc F10 F11 Dele 65 F12 Ins 23 & 2. 9. 6 S G N Alt Ctrl
Question 23 ncements -/1 sions View Policies rences Current Attempt in Progress orations Swifty Corporation reported the following information for 2016: PLUS Support October November December Central $370000 $340000 $450000 Budgeted sales Budgeted purchases $140000 $156000 $198000 e 365 es All sales are on credit. a Customer amounts on account are collected 50% in the month of sale and 50 % in the following month. Cost of goods sold is 35% of sales. Swifty purchases and pays for merchandise 60% in the month of acquisition and 40 % in the following month. Accounts payable is used only for inventory acquisitions. How much cash will Swifty receive during November? O $395000 O $170000 O $355000 O $340000 8:57 PM ) 11/27/2019 (? search hp s end prt sc clelete & backspace lock 8 R 4 anter K G sed tri ey utNE gna Σ I
meducation.com/ext/map/index.html?_con%3con&external_browser%3D0&launchUrl=https%253A%252F%252FIM..mheducation.com%252Fmghm Saved Help Sa 2 & 14 Recap i A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $8,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter (000 omitted) (000 omitted) 2 3 4 Year Cash balance, beginning 9 Add collections from customers 99 348 Total cash available 87 Less disbursements: nces Purchase of inventory 38 48 30 Selling and administrative expenses 30 30 121 Equipment purchases 10 10 13 43 Dividends 2 2 Total disbursements 90 Excess (deficiency) of cash available over disbursements (2) 16 Financing: Borrowings 14 Repayments (including interest)* (17) Total financing Cash balance, ending "Interest will total $1,000 for the year. 9. 7 8.
* CengageNOWv2 | Online teachin x ome keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еBok Show Me How Print Item Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough ca December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) $9,250 Purchase season football tickets in September 160 Additional entertainment for each month: 250 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 600 Pay for food each month. 550 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,200 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a…
BUS 203: INTRODUCTION TO COST AND MANAGEMENT ACCOUNTING PROJECT: CASH BUDGETING ASSOCIATE DEGREE YEAR 2: SEMESTER 1 (2020/21)Ronstadt Limited’s budget for the four months from January to April includes the following data:1. MonthSalesMaterialsWagesOverheads $000$000$000$000January615115.030360February636120.033390March690135.036420April684130.040425 2. One-third of sales revenue is received one month after sale and the remainder is received two months after sale. The sales in the previous two months were: November $600 000; December $540 000.3. One-quarter of purchases of materials are paid for in the month of purchase. The remainder are paid for two months later. Purchases in the previous two months were: November $108 000; December $106 000.4. Two-thirds of the wages are paid in the month in which they are earned, and the balance is paid in the following month. The wages for the previous December amounted to $30 000.5. One-half of the overhead expenditure is paid in the month in…
O X A WA Probability 1- Intro to Probabi X B5 Probability 1: Introduction to Prol X * O -> webassign.net/web/Student/Assignment-Responses/submit?dep3D28685826&tags%=Dauto. <* MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Shipping constitutes a large part of the budget for online retailers. One such retailer ships fragile items that occasionally get broken and have to be replaced/re-shipped. Historically, 8% of these items have gotten broken during shipping. (a)If an item is shipped, what is the probability that it does not get broken? In other words, what is P(not broken)? Express your answer as a decimal rounded to two decimal places. (b) If the retailer ships 4 separate items, what is the probability that none will be broken during shipping? Express your answer as a decimal rounded to three decimal places. Submit Answer 7 O 10:29 Ili
X Search the web EXPERT SOLUTION FOLLOW-UP QUESTIONS ↓ Homework help starts here! ← Q&A Library Solution - 1. Budget- Sales (In Units) Selling Price Total Sales Credit Collections: In the Month of Sale In the Following Month Uncollectible Ending Finished Goods Inventory Beginning Finished Goods Inventory Production Each Unit Requires Ending Raw Material Inventory Beginning Raw Material Inventory Raw Material Purchases Cost per Foot Credit Payments: In the Month of Purchases In the Following Month 30% 65% 5% 15% 4 Feet 50% $ 0.80 June Working Notes July August September October November December 25,000 30,000 70,000 50,000 20,000 $ 12.00 $ 12.00 S 12.00 $ 12.00 $ 12.00 $ 840,000 $ 300,000 90,000 15,000 4,500 3,750 Milo Company manufactures beach umbrellas. The c... $360,000 108,000 195,000 18,000 10,500 4,500 252,000 180,000 234.000 42,000 7,500 10,500 $ 600,000 72,000 134,000 91,000 51,500 72,000 134,000 WAS THIS HELPFUL? 67,000 45,500 25,750 36,000 103,000 144,000 268,000 182,000…