- O HU Home Insert ACC 203 - Excel Project - Master Budget - SU18 (6) - Microsof

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- O HU Home Insert ACC 203 - Excel Project - Master Budget - SU18 (6) - Microsoft Word non-commercial use Mailings Review View Page Layout References Cut BE Copy 21 E EESEE Calibri (Body) - 10 AN BIU-abe x x Aa Font AaB CcDc AabbCcDc AaBbc Aabbcc AaB AalbCl AaBCD T Normal No Spaci... Heading 1 Heading 2 Title Subtitle Subtle Em... A Change - A Paste Format Painter Clipboard Find - Replace Select Editing * Styles Paragraph Styles OACC 203 - Excel Project - Master Budget III DI LBL Corporation is preparing its master budget for the first quarter of the upcoming year. The following contains detail on LBL's operations necessary for their master budget: • Sales Information: o Actual Projected Sales are as follows: . December (Prior Year; Actual): $90,000 • January (Estimated): $92,000 . February (Estimated): $102,000 • March (Estimated): $109,0000 • April (Estimated): $107.000 . May (Estimated): $108,000 Units are sold at $12 each o Sales in a month are paid in cash for 25% and on credit for the remainder with credit collection occurring in the month following the sale HINT: To help you with several budgets, you will need sales in UNITS (not total dollars as listed above). You can calculate the number of sales units by taking the total sales/ sales price per unit. Partial balance sheet as of 12/31 of the prior year: 0 Cash $5,500 0 A/R net $49,000 o inventory $15,600 o PP&E; $120,000 A/P $40,200 o Capital Stock $125,500 o Retained Earnings $23,000 HINT: You may not need all this information LBL plans to produce enough units for sales expected in the period as well as have a cushion in ending finished goods inventory of 20% of the following month's sales units expected Page 1 of 3 Words: 893 E a E 100% e 0 10:54 AM H e a © © 21 p E 9 10€ 6/21/2018

Explanation / Answer

I have answered the questions 1 to 6 .

LBL Corporation Sales Budget For the Quarter Ended March 31 January February March Total Sales in Dollars (A) 92000 102000 109000 303000 Selling Price per unit (B) 12 12 12 12 Sales in units (A/B)            7,667            8,500            9,083            25,250

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