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Business
Accounting
Year 2 Quarter 2 60,000 Year 3 Quarter 1 70,000 Data 1 3 4 2 Budgeted unit sales 40,000 100,000 50,000 80,000 • 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 $12 per unit $65,000 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 •Direct labor cost per hour •Direct labor hour per unit $15 per hour 0.2 hour per unit •Variable MOH rate •Total fixed MOH $2 per hour $60,000 •Variable S&A expense rate $1.80 per unit •Minimum cash balance $50,000 12% •Annual Interest rate

Year 2 Quarter 2 60,000 Year 3 Quarter 1 70,000 Data 1 3 4 2 Budgeted unit sales 40,000 100,000 50,000 80,000 • 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 $12 per unit $65,000 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 •Direct labor cost per hour •Direct labor hour per unit $15 per hour 0.2 hour per unit •Variable MOH rate •Total fixed MOH $2 per hour $60,000 •Variable S&A expense rate $1.80 per unit •Minimum cash balance $50,000 12% •Annual Interest rate

FINANCIAL ACCOUNTING
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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How do I prepare the bugdet and replace all question marks into formula?

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 • 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 and • Accounts payable for raw materials, beginning balance $12 per unit $65,000 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 •Direct labor cost per hour •Direct labor hour per unit $15 per hour 0.2 hour per unit $2 per hour $60,000 •Variable MOH rate •Total fixed MOH •Variable S&A expense rate $1.80 per unit $50,000 12% •Minimum cash balance •Annual Interest rate
Transcribed Image Text: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 • 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 and • Accounts payable for raw materials, beginning balance $12 per unit $65,000 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 •Direct labor cost per hour •Direct labor hour per unit $15 per hour 0.2 hour per unit $2 per hour $60,000 •Variable MOH rate •Total fixed MOH •Variable S&A expense rate $1.80 per unit $50,000 12% •Minimum cash balance •Annual Interest rate
Construct the S &A expense budget Year 2 Quarter 1 2 3 4 Year Budgeted sales in units Variable S&A expense rate Total variable S&A expenses Total fixed S&A expenses Total S&A expenses Less depreciation Cash disbursements for S&A expenses ? ? ? ? ? ? ? ? ? ? 100,000 100,000 100,000 100,000 400,000 ? ? ? ? ? 100,000 100,000 100,000 100,000 400,000 ? ?
Transcribed Image Text:Construct the S &A expense budget Year 2 Quarter 1 2 3 4 Year Budgeted sales in units Variable S&A expense rate Total variable S&A expenses Total fixed S&A expenses Total S&A expenses Less depreciation Cash disbursements for S&A expenses ? ? ? ? ? ? ? ? ? ? 100,000 100,000 100,000 100,000 400,000 ? ? ? ? ? 100,000 100,000 100,000 100,000 400,000 ? ?
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