Similar Questions | bartleby × Master Budget Preparation × + EDChatGPT 7° https://chatgpt.com/c/6718fea8-b460-8005-8972-35def9b0814a Q Search 1. Sales Forecast: The firm sells a single product at $60 per unit. The sales forecast for the upcoming months, starting from April, shows the projected number of units sold. For July to September, the sales are: . July: 31,200 units . August: 33,600 units • September: 33,600 units 2. Collections: Sales are collected as follows: 40% in the month of the sale, 40% in the following month, and 20% two months after the sale. 3. Inventories: On 1 July 2024, the company will have 10,800 units of finished goods inventory. The ending inventory for finished goods should be 20% of the sales for the next 3 months. The ending raw material inventory should be 40% of the next month's production. The company owes $196,800 for material purchases as of 1 July 2024. 4. Expenses: . . Variable selling expenses are 5% of sales. Administrative expenses are $126,000 per quarter ($20,000 of which is depreciation and $96,000 is wages). Fixed selling expenses amount to $36,000 per quarter. Direct materials cost $8 per kilogram, and each unit requires 1.1 kg. Direct labour costs $24 per hour, and each unit requires 0.5 hours of labour. • Factory overhead is $154,000 per month, with $28,000 of that as depreciation. 5. Cash Balance: The cash balance on 1 July 2024 is expected to be $40,320. Required Calculations: 1. Sales Budget: Prepare a monthly sales budget for July, August, and September. 2. Cash Collections: Determine the estimated cash collections from receivables for July to September. 3. Production Requirements: Calculate how many units need to be produced in July to September. 4. Direct Materials Budget: Prepare the budget for direct materials for the quarter (hint: desired ending inventory for materials is 16,512 units). 5. Cash Budget: Prepare a cash budget for July to September. 6. Budgeted Income Statement: Prepare anime statement for the same period (hint: cost of sales is $2,182,512). Message ChatGPT ChatGPT can make mistakes. Check important info. > ☆ | 0 B Share B ENG US 1:06 AM 10/26/2024 ... AutoSave ▾ 202420_BAC104 Assignment Template... ✓ Search Automate Developer Help File Home Insert Draw Page Layout Formulas Data Review View Calibri 16 ☑Aˆ A General Conditional Formatting ab ✓ $ % 9 Format as Table Paste B I U ✓ Cell Styles ▾ ། Font ☑ Alignment K] Number ། Styles Clipboard B11 fx < Production Budget - Units for July to September 2024 A B D 10 11 12 Sales 13 Production Budget - Units for July to September 2024 Desired end inventory 14 Total units needed Beginning inventory 18 19 20 23 24 156762222222 Required production finished good units BR ☑ Comments Share Insert DX Delete Σ AT O ✓ ✓ Format ▾ Sort & Find & Filter Add-ins Select Analyse Data Cells Editing Add-ins F G H K L M Req (a) Req (b) Req (c) Req (d) Req (e) Req (f) + ⠀ Ready EO Accessibility: Investigate Count: 6 曲 7° Q Search ENG US • ☑ + 100% 1:07 AM 10/26/2024

Similar Questions | bartleby × Master Budget Preparation × + EDChatGPT 7° https://chatgpt.com/c/6718fea8-b460-8005-8972-35def9b0814a Q Search 1. Sales Forecast: The firm sells a single product at $60 per unit. The sales forecast for the upcoming months, starting from April, shows the projected number of units sold. For July to September, the sales are: . July: 31,200 units . August: 33,600 units • September: 33,600 units 2. Collections: Sales are collected as follows: 40% in the month of the sale, 40% in the following month, and 20% two months after the sale. 3. Inventories: On 1 July 2024, the company will have 10,800 units of finished goods inventory. The ending inventory for finished goods should be 20% of the sales for the next 3 months. The ending raw material inventory should be 40% of the next month's production. The company owes $196,800 for material purchases as of 1 July 2024. 4. Expenses: . . Variable selling expenses are 5% of sales. Administrative expenses are $126,000 per quarter ($20,000 of which is depreciation and $96,000 is wages). Fixed selling expenses amount to $36,000 per quarter. Direct materials cost $8 per kilogram, and each unit requires 1.1 kg. Direct labour costs $24 per hour, and each unit requires 0.5 hours of labour. • Factory overhead is $154,000 per month, with $28,000 of that as depreciation. 5. Cash Balance: The cash balance on 1 July 2024 is expected to be $40,320. Required Calculations: 1. Sales Budget: Prepare a monthly sales budget for July, August, and September. 2. Cash Collections: Determine the estimated cash collections from receivables for July to September. 3. Production Requirements: Calculate how many units need to be produced in July to September. 4. Direct Materials Budget: Prepare the budget for direct materials for the quarter (hint: desired ending inventory for materials is 16,512 units). 5. Cash Budget: Prepare a cash budget for July to September. 6. Budgeted Income Statement: Prepare anime statement for the same period (hint: cost of sales is $2,182,512). Message ChatGPT ChatGPT can make mistakes. Check important info. > ☆ | 0 B Share B ENG US 1:06 AM 10/26/2024 ... AutoSave ▾ 202420_BAC104 Assignment Template... ✓ Search Automate Developer Help File Home Insert Draw Page Layout Formulas Data Review View Calibri 16 ☑Aˆ A General Conditional Formatting ab ✓ $ % 9 Format as Table Paste B I U ✓ Cell Styles ▾ ། Font ☑ Alignment K] Number ། Styles Clipboard B11 fx < Production Budget - Units for July to September 2024 A B D 10 11 12 Sales 13 Production Budget - Units for July to September 2024 Desired end inventory 14 Total units needed Beginning inventory 18 19 20 23 24 156762222222 Required production finished good units BR ☑ Comments Share Insert DX Delete Σ AT O ✓ ✓ Format ▾ Sort & Find & Filter Add-ins Select Analyse Data Cells Editing Add-ins F G H K L M Req (a) Req (b) Req (c) Req (d) Req (e) Req (f) + ⠀ Ready EO Accessibility: Investigate Count: 6 曲 7° Q Search ENG US • ☑ + 100% 1:07 AM 10/26/2024

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...

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