A. Prepare the Sales Budget for the Quarter considering the information given below 1. Metro Logistics, Mississauga is preparing budgets for the quarter ending November 30 2. Consider that the selling price is $8 per unit 3. Budgeted sales for the five months are as follows July 25, 000 units August 40,000 units September 30, 000 units October 25,000 units November 15,000 units B. Calculate the total cash collections for the quarter ending November 30 on the basis of the information given below: 1. The collection trend of Metro Logistics is as follows: 60% collected in the month of sale • 35% collected in the month following sale • 5% is uncollectible. 2. Consider that June 30 accounts receivable balance of $20,000 will be collected in full C. Prepare the Production Budget for the Quarter based on the following information: 1. Metro Logistics wants ending inventory to be equal to 20% of the following month's budgeted sales in units. 2. On June 30, units on hand were 5000 Instruction Prepare excel spreadsheets for Budgeted sales, Total cash collection and

A. Prepare the Sales Budget for the Quarter considering the information given below 1. Metro Logistics, Mississauga is preparing budgets for the quarter ending November 30 2. Consider that the selling price is $8 per unit 3. Budgeted sales for the five months are as follows July 25, 000 units August 40,000 units September 30, 000 units October 25,000 units November 15,000 units B. Calculate the total cash collections for the quarter ending November 30 on the basis of the information given below: 1. The collection trend of Metro Logistics is as follows: 60% collected in the month of sale • 35% collected in the month following sale • 5% is uncollectible. 2. Consider that June 30 accounts receivable balance of $20,000 will be collected in full C. Prepare the Production Budget for the Quarter based on the following information: 1. Metro Logistics wants ending inventory to be equal to 20% of the following month's budgeted sales in units. 2. On June 30, units on hand were 5000 Instruction Prepare excel spreadsheets for Budgeted sales, Total cash collection and

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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