Accounts Receivable on June 30 is $352,800Ending Finished goods inventory on June 30 is 1400 unitsPrepare Sales Budget,Cash collection schedule,Production budget,Direct material and Direct labour budget.Budget is for July ,August,September Company makes one product and it provided the following information to help prepare the master budget:a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,400,10,000, 12,000, and 13,000 units, respectively. All sales are on credit.b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month.c. The ending finished goods inventory cequals 20% of the following month's unit sales.d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unitof finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound.e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours.g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expenseper month is $60,000.

The Question is incomplete for other parts to be sold other than Sales Budget and Cash Collection…

Accounts Receivable on June 30 is $352,800 Ending Finished goods inventory on June 30 is 1400 units Prepare Sales Budget,Cash collection schedule,Production budget,Direct material and Direct labour budget. Budget is for July ,August,September

Accounts Receivable on June 30 is $352,800 Ending Finished goods inventory on June 30 is 1400 units Prepare Sales Budget,Cash collection schedule,Production budget,Direct material and Direct labour budget. Budget is for July ,August,September

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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