For example, in cell B26 enter the formula \"= B5\". enter formulas in all cells
ID: 2459442 • Letter: F
Question
For example, in cell B26 enter the formula "= B5".
enter formulas in all cells that contain question marks.For example, in cell B26 enter the formula "= B5".
Check your worksheet by changing the budgeted unit sales in Quarter 2 of Year 2 in cell C5 to 75,000 units. The total expected cash collections for the year should now be $2,085,000. If you do not get this answer, find the errors in your worksheet and correct them. ear 2 Quarter Year 3 6000 600 Budgeted urit sales 100,000 0,000 80 Selling price per uni S8 per u 985,000 75% 25% 30% ocounts 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 s of the budgeted unit sales of the next quarter Finshed gcods inventary,beginning 12,000 units 5 pourds 10% of the next guarter's production needs Raw materials required to produce ore unit Desred ending inventory of raw materia's Raw materals inventory 23,000 pourds 80.80 per pourd 60% in the quarter the purchases are made 40% in the quarter following purchase Raw materal costs Raw materials purchases are paid Accounts payable for raw materials, beginning balance $81,500 Enter a formula into each of the cells marked with a? below Review Problem: Budget Schedules Construct the sales budge ear 2 Quarter Year 3 Quarter udgeted unit sales Seling price per u Total sales Construct the schedule of expected cash coliections ear 2 Quarter Accounts receivable, beginning First quarter saies Second quarter sales Third quarter sales Fourth quarter sales Total cash collections Construct the production budget ear 2 Quarter Year 3 Budgeted unit sales Add desired finished goods Total needs Less begninning Recuired production Construct the raw materials purchases budget ear 2 Quarter Year 3 Required production (units) Raw materials required to produce one unit Production needs (pounds Add desired endirg mventory of raw materials Total needs (pounds Less beginning inventory of raw materials aw materials to be purchased Cost of raw materials per paund Cost of raw materials ta be purchased Construct the schedule of expected cash payments ear 2 Quarter Accounts payable, beginning First-quarter purchases Third-quarter purchases Total cash disbursementsExplanation / Answer
Answer 1. Sales Budget 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 8 8 8 8 8 Total Sales 320,000 480,000 800,000 400,000 560,000 640,000 Schedule of Expected Cash Collections Year 2 Quarter Year 1 2 3 4 Accounts receivables, beginning balance 65,000 65,000 First Quarter Sales 240,000 80,000 320,000 Second Quarter Sales 360,000 120,000 480,000 Third Quarter Sales 600,000 200,000 800,000 Fourth Quarter Sales 300,000 300,000 Total Cash Collections 305,000 440,000 720,000 500,000 1,965,000 Production Budget Year 2 Quarter Year Year 3 Quarter 1 2 3 4 1 2 Budgeted Unit Sales 40,000 60,000 100,000 50,000 250,000 70,000 80,000 Add: Desired Finished goods inventory 18,000 30,000 15,000 21,000 21,000 24,000 Total Needs 58,000 90,000 115,000 71,000 271,000 94,000 Less: Beginning Inventory (12,000) (18,000) (30,000) (15,000) (12,000) (21,000) Required Production 46,000 72,000 85,000 56,000 259,000 73,000 Raw Material Purchase Budget Year 2 Quarter Year Year 3 Quarter 1 2 3 4 1 Required Production (In Units) 46,000 72,000 85,000 56,000 259,000 73,000 Raw Material required to produce one unit 5 5 5 5 5 5 Production needs (Pounds) 230,000 360,000 425,000 280,000 1,295,000 365,000 Add: desired ending inventory of raw materials (pounds) 36,000 42,500 28,000 36,500 36,500 Total needs (pounds) 266,000 402,500 453,000 316,500 1,331,500 Less: Beginning inventory of raw materials (pounds) (23,000) (36,000) (42,500) (28,000) (23,000) Raw materials to be purchased 243,000 366,500 410,500 288,500 1,308,500 Cost of raw materials per pound 0.80 0.80 0.80 0.80 0.80 Cost of raw materials to be purchased 194,400 293,200 328,400 230,800 1,046,800 Schedule of Expected Cash Collections Year 2 Quarter Year 1 2 3 4 Accounts Payable, beginning balance 81,500 81,500 First Quarter Purchases 116,640 77,760 194,400 Second Quarter Purchases 175,920 117,280 293,200 Third Quarter Purchases 197,040 131,360 328,400 Fourth Quarter Purchases 138,480 138,480 Total Cash disbursements 198,140 253,680 314,320 269,840 1,035,980 Answer 2. Sales Budget Year 2 Quarter Year 3 Quarter 1 2 3 4 1 2 Budgeted Unit Sales 40,000 75,000 100,000 50,000 70,000 80,000 Selling Price per Unit 8 8 8 8 8 8 Total Sales 320,000 600,000 800,000 400,000 560,000 640,000 Schedule of Expected Cash Collections Year 2 Quarter Year 1 2 3 4 Accounts receivables, beginning balance 65,000 65,000 First Quarter Sales 240,000 80,000 320,000 Second Quarter Sales 450,000 150,000 600,000 Third Quarter Sales 600,000 200,000 800,000 Fourth Quarter Sales 300,000 300,000 Total Cash Collections 305,000 530,000 750,000 500,000 2,085,000
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