Was hoping someone may be able to assist me with this! Saw similar questions pos
ID: 2578028 • Letter: W
Question
Was hoping someone may be able to assist me with this! Saw similar questions posted, but the numbers were different which cascaded throughout the file.
Data Yeer 2 Quarter Year 3 Quarfer Budgeted unit sales 40,000 60,000 100,000 50,000 70,000 80.000 S8 per unit Selling price per unit Accounts receivable, beginning balance Sales collected in the quarter sales are made Sales colloctod in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning Raw materials Desired ending inventory of rew materials is $65,000 15% 25% 30% of the budgeted unit sales of the next quarter 12,000 units required to produce one unit 5 pounds 10% of the next quarter's production needs 23,000 pounds .Raw materials inventory, beginning Raw material costs S0.80 per pound 60%! in the qurler the purchases rire made 40%) in the quarter following purchase Raw malerials purchases are paid and Accounts payable for raw materials, beginning balance $81,500 Entor a formua into each of the cols markod with a? bolow Construct the salcs budget Ycar 2 Quarter Ycar 3 Quarter Budgeted unit sales g price per unit Tolal sales 5400,000 Construct the schedule of expected cash collections Year 2 Quarter Year Accounts receivable, beginning balance First-quarter sales Second quarter sales Third-quarter salos Total cash collections S500,000 $1,65,000 Construct the production budget Yeer 2 Quarfer Year 3 Quarter Budgeted unit sales Add desired finished goods inventory Total neods Less beginning Required production 56,000 259 000 Construct the raw materials purchases budget Year 2 Quarter Year 3 Quarter Required production (units) Raw materials required to produce one unit Production needs (pounds) Add desired endin Tolal needs (pounds) Less beginning inventory of raw materials (pounds) Raw materials to be purchased Cost of raw mateials per pound Cost of raw materials to be purchased of raw materials (pounds)? 288,500 1,308,500 230,800 $1,046,800 Construct the schedule of expected cash payments Year 2 Quarter Accounts payable, beginning balance First-quarter purchases Second-quarter purchases Third-quarter purchases Total cash disbursements $269,840$1,035,980Explanation / Answer
THERE ARE TWO SALE PRICES $7 & $8....WHICH IS APPLICABLE?
YR 2 Y3 Q1 Q2 Q3 Q4 Q1 Q2 UNIT 40 60 100 50 70 80 SP 8 8 8 8 8 8 TOTAL SALE 320 480 800 400 560 640 EXPECTED CASH BEGIN 65 1Q 240 80 2Q 360 120 3 Q 600 200 4Q 300 TOTAL 100 1Q 420 140 2Q 480 305 440 720 500 520 620Related Questions
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