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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Chapter 8 Applying Excel            
             
Data Year 2 Quarter Year 3 Quarter
  1 2 3 4 1 2
Budgeted Unit Sales        40,000       60,000     100,000       50,000       70,000             80,000
             
Selling price per unit $8          
Accounts receivable, beginning balance $65,000          
Sales collected in the quarter sales are made 75%          
Sales collected in the quarter after sales are made 25%          
Desired ending finished goods inventory is 30% of the budgeted unit sales of the next quarter  
Finished goods inventory, beginning        12,000 units        
Raw materials required to produce one unit                 5 pounds        
Desired ending inventory of raw materials is 10% of the next quarter's production needs  
Raw materials inventory, beginning        23,000 pounds        
Raw materials cost $0.80 per pound        
Raw materials purchases are paid 60% in the quarter the purchases are made  
  and 40% in the quarter following purchase    
Accounts payable for raw materials, beginning balance $81,500        

 

 

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