ACCT 1300 Pg 9 The beginning cash balance has been provided and equipment purchases and dividends has been provided. > Please prepare the cash budget Cash Budget For the Year Ended December 31, 2019 02 03 01 04 S42,500 Cash balance, beginning Add Receipts: Collection from customers Total Cash available before current financing Deduct disbursements Direct materials Direct labore Manufacturing overhead Selling and administrative Equipment purchases Dividends Total Disbursements Excess deficiency of cash available over disbursements 3 60.000 500 50,000 500 10,000 500 20,000 500 For 9:18 WhatsApp Answer: Dart1: The Salies Budget for the year ended December 31, 2018 Quarter Q2 Que One Total Expected Scheeler Tood 53. SUS 30.000 54.0 16.5 Sales Biote: The Budgeted sales in 5] would be the expected sales multiplied by the selling price per Part 2: Schedule of expected cash collection A. hance 52.97.500 552,500 Sale $2,50,000-555) ($350,00015 Se 33,27,250 Sales (53.85,000-8594) 53,85.000546 Third 58.67,000 163,000 (54.20.000859154.20.00015 Four 5,500 (54.900 Ta $3,77,500 53,70,750 414,750 4,70 500 Colle 580,000+52,07,600) (552500+6327250) (557,750-53,67.000 62.000-5416.500 | Aaraari me 552.500 563.000 573.00 Chasing (3,50,000-15) (83,85,000 159 154.20.000101490,000 Note: It has been assumed that the 580,000 balance in the beginning of the year the first quarters and hence has been considered as colection for the first Part 3: The Production Budget for the year ended December 31, 2015 (A) A di 2,200 2,400 wory of 2,800 1,000 B 11,000-2014) (12000-20% 12000-2014) Given Sual It my office 2,000 2.200 Required Production D Note: The beginning inventory of finished goods (D) will be the desired ending intory Finished goods for previous quarter except in Quarter 1as the value for Quarter is already In the ston Partai The Direct Materials Budget for the year ended December 31, 2010- Following is given in the question Direct Materials needed are 15 per unit Desired anding inventory of raw material: 100% et next quarter production needs Our 16800 16600 21500 (1,68,000*10%) 180000 (10000) 100 hre (A) Production needs CCA 15kg A Tenden vey of merah Total needs 15+C) Deduct: Beginning inventory of how .. (C) value of Previous Quarter Raw materials to be purchased (F) [O-] Cost of Raw materials to be Perchand material 1,45 Qar 54, 1.500 Sale 0540 4500 Cash 33,79,750 54 14.750 54.7.500 fie (980,000+52,97,600) 552600+8327250) ($97.750+52.57.000 82.000-5.600 A 52,500 $52,750 169,000 572.500 Cling 153,50,000-1594) (52,69 0001544 154.20.000 400.000 Plan Pote it has been assumed that the 380,000 balance in the beginning of the year wall be received In the first quarter and hence has been considered in cash collection for the first quarter Part : The Production Budget for the year ended December 31, 2010- (A) A D 2.200 fed 2.400 2,800 3,000 111,000-20% 12000-20%) 14000-20% Given TAB det. Beim Che 2,000 (G) 2.200 D Rogero D Note: The beginning inventory of finished goods (o) will be the desired ending intory of Finished goods for previous quartered in Quarter as the value forte the question Part 4: The Direct Materials Budget for the year ended December 31, 2015 Following is given in the question Direct Materials needed are 15 per unit Cost of RM 1.50 per kg Desired ending inventory of raw material of netter production de Ow Required From 10.30 11.300 (A Production needs (0) DIA) 15 At Desire 1000 1600 21300 yo 6,68,000-10% 1000000 230000 22.00 Total needs (0) 18.0) Deduct: Beginning lewentory of RW materials B. (C) value of Previous Quarter Raw materials to be purchased (F) 14.00 2.1 [D-E) Cost of Raw materials to be purchased [F1.50 per KOJ Parts Schedule of expected cash disbursements for materials As per the question it is expected to pay 50% of payment in the period of purchase and some next period to following would be the cash disbursement for charter Acom yake Finse 111,600 11,600 how (A) (82,22.200-50%) 182,23,200-50%) Sed Quarter $127,350 3127350 (82,54,700-50% 182,54,700-5014 Thund Quarter $141.525 51,41,525 Prawo (12, 27,000 (12, 25, scam F 51.60.600 2.2.300 Th137,400 $25,000 1,171,800 12,35,980 (A+)5263,75 (8C) 3,02,775 100) Payal 111,600 $427,350 3141525 $1,50,60 Ching ($2,23,200-50%) 182,54,700 50% (52,83,050-50% 183,21,300-509 bile First Quarter $1,11,600 $1,11,600 purchase (A) ($2,23,200*50%) ($2,23,200*50%) Second $1,27,350 $1,27,350 Quarter purchase (B) ($2,54,700*50%) ($2,54,700*50%) Third Quarter $1,41,525 $1,41,525 purchase (C) ($2,83,050*50%) ($2,83,050*50%) Fourth $1,60,650 Quarter purchase (D) ($3,21,300*50%) Total Cash $1,37,400 Disbursement ($25,800+$1,11,600) $2,38,950 (A+B) $2,68,875 (B+C) $3,02,175 (C+D) Accounts Payable $1,11,600 $1,27,350 $1,41,525 $1,60,650 Closing ($2,23,200*50%) ($2,54,700*50%) ($2,83,050*50%) ($3,21,300*50%) balance Part 5: Schedule of expected cash disbursements for materials- As per the question it is expected to pay 50% of payment in the period of purchase and 50% in the next period, so following would be the Cash disbursement for each quarter Quarter 1 Quarter 2 Quarter 3 Quarter 4 Accounts payable beginning $25,800 $1,11,600 $1,27,350 $1,41,525 balance First Quarter $1,11,600 $1,11,600 purchase (A) ($2,23,200*50%) ($2,23,200*50%) Second Quarter $1,27,350 $1,27,350 purchase (B) ($2,54,700*50%) ($2,54,700*50%) Third Quarter $1,41,525 $1,41,525 purchase (C) ($2,83,050*50%) ($2,83,050*50%) Fourth Quarter $1,60,650 purchase (D) ($3,21,300-50%) Total needs (D) 1,69,800 1.86,600 2,07,300 2,35,500 (B+C) Deduct: Beginning Inventory of Raw materials(E) 21,000 16,800 18,600 21,300 [i.e (C) value of Previous Quarter] Raw materials to be purchased (F) 1,48,800 1,69,800 1,88,700 2,14,200 [D-EJ Cost of Raw materials to be purchased $2,23,200 $2,54,700 $2,83,050 $3,21,300 (F. 1.50 per KG] Part 5: Schedule of expected cash disbursements for materials- As per the question it is expected to pay 50% of payment in the period of purchase and 50% in the next period, so following would be the Cash disbursement for each quarter Quarter 1 Omonter 2 Quarter 3 Quarter 4 in the question. Part 4: The Direct Materials Budget for the year ended December 31, 2019- Following is given in the question-a) Direct Materials needed are 15Kg per unit b) Cost of RM is $1.50 per kg c) Desired ending inventory of raw material- 10% of next quarter production needs Quarter 1 Quarter 2 Quarter 3 Quarter 4 Required production in cases (From Part 3 10,200 11.200 12,400 14,200 answer) (A) Production needs (B) 1,53,000 1,68,000 1,86,000 2,13,000 [(A)*15kg] Add: Desired ending 16800 18600 21300 inventory of raw 22,500 materials (C) (1,68,000*10%) (186000*10%) (213000*10%) Total needs (D) 1,69,800 1.86,600 2,07,300 2,35,500 (B+C) Deduct: Beginning balance Note: It has been assumed that the $80,000 balance in the beginning of the year will be received in the first quarter itself and hence has been considered in cash collection for the first quarter. Part 3: The Production Budget for the year ended December 31, 2019- Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budgeted sales (In Units) 10,000 11,000 12,000 14,000 (A) Add: Desired ending 2,200 2,400 2,800 3,000 inventory of finished goods (B) (11,000*20%) (12000*20%) (14000*20%) (Given) Total needs (C) (A+B) 12,200 13,400 14800 17000 Deduct: Beginning Inventory of finished 2,000 (Given) 2,200 2.400 2,800 goods (D) Required Production (C- 10,200 11,200 D) 12,400 14,200 Note: The beginning Inventory of fininshed goods (D) will be the desired ending inventory of Finished goods for previous quarter except in Quarter 1, as the value for Quarter 1 is already given in the question. First $52,500 $2,97,500 Quarter ($3,50,000*85%) ($3,50,000*15%) Sales Second $3,27,250 $57,750 Quarter ($3,85,000*85%) ($3,85,000*15%) Sales Third $3,57,000 $63,000 Quarter ($4,20,000*85%) ($4,20,000*15%) Sales Fourth $4,16,500 Quarter ($4,90,000*85%) Sales Total $3,77,500 $3,79,750 $4,14,750 $4,79,500 Cash Collection ($80,000+$2,97,500) ($52500+$327250) ($57,750+$3,57,000) ($63,000+$4,16,500) Accounts receivable $52,500 $57,750 $63,000 $73,500 Closing ($3,50,000*15%) ($3,85,000*15%) ($4,20,000*15%) ($4,90,000*15%) halance Answer: Part 1: The Sales Budget for the year ended December 31, 2019- Quarter Quarter 2 Quarter 3 Quarter 4 Total Expected Sales 10,000 11,000 12,000 14,000 (Units) 47,000 Selling Price (Per $35 $35 $35 $35 $35 Unit) Total Budgeted $3,50,000 $3,85,000 $4,20,000 $4,90,000 $16,45,000 Sales Note: The Budgeted sales (In $) would be the expected sales multiplied by the selling price per unit. Part 2: Schedule of expected cash collection- Quarter 1 Quarter 2 Quarter 3 Quarter 4 Accounts receivable $80,000 $52,500 $57,750 $63,000 beginning balance First $2,97,500 $52,500 Quarter ($3,50,000*85%) ( ,$) ACCT 1300 Pg 9 The beginning cash balance has been provided and equipment purchases and dividends has been provided. > Please prepare the cash budget Cash Budget For the Year Ended December 31, 2019 02 03 01 04 S42,500 Cash balance, beginning Add Receipts: Collection from customers Total Cash available before current financing Deduct disbursements Direct materials Direct labore Manufacturing overhead Selling and administrative Equipment purchases Dividends Total Disbursements Excess deficiency of cash available over disbursements 3 60.000 500 50,000 500 10,000 500 20,000 500 For 9:18 WhatsApp Answer: Dart1: The Salies Budget for the year ended December 31, 2018 Quarter Q2 Que One Total Expected Scheeler Tood 53. SUS 30.000 54.0 16.5 Sales Biote: The Budgeted sales in 5] would be the expected sales multiplied by the selling price per Part 2: Schedule of expected cash collection A. hance 52.97.500 552,500 Sale $2,50,000-555) ($350,00015 Se 33,27,250 Sales (53.85,000-8594) 53,85.000546 Third 58.67,000 163,000 (54.20.000859154.20.00015 Four 5,500 (54.900 Ta $3,77,500 53,70,750 414,750 4,70 500 Colle 580,000+52,07,600) (552500+6327250) (557,750-53,67.000 62.000-5416.500 | Aaraari me 552.500 563.000 573.00 Chasing (3,50,000-15) (83,85,000 159 154.20.000101490,000 Note: It has been assumed that the 580,000 balance in the beginning of the year the first quarters and hence has been considered as colection for the first Part 3: The Production Budget for the year ended December 31, 2015 (A) A di 2,200 2,400 wory of 2,800 1,000 B 11,000-2014) (12000-20% 12000-2014) Given Sual It my office 2,000 2.200 Required Production D Note: The beginning inventory of finished goods (D) will be the desired ending intory Finished goods for previous quarter except in Quarter 1as the value for Quarter is already In the ston Partai The Direct Materials Budget for the year ended December 31, 2010- Following is given in the question Direct Materials needed are 15 per unit Desired anding inventory of raw material: 100% et next quarter production needs Our 16800 16600 21500 (1,68,000*10%) 180000 (10000) 100 hre (A) Production needs CCA 15kg A Tenden vey of merah Total needs 15+C) Deduct: Beginning inventory of how .. (C) value of Previous Quarter Raw materials to be purchased (F) [O-] Cost of Raw materials to be Perchand material 1,45 Qar 54, 1.500 Sale 0540 4500 Cash 33,79,750 54 14.750 54.7.500 fie (980,000+52,97,600) 552600+8327250) ($97.750+52.57.000 82.000-5.600 A 52,500 $52,750 169,000 572.500 Cling 153,50,000-1594) (52,69 0001544 154.20.000 400.000 Plan Pote it has been assumed that the 380,000 balance in the beginning of the year wall be received In the first quarter and hence has been considered in cash collection for the first quarter Part : The Production Budget for the year ended December 31, 2010- (A) A D 2.200 fed 2.400 2,800 3,000 111,000-20% 12000-20%) 14000-20% Given TAB det. Beim Che 2,000 (G) 2.200 D Rogero D Note: The beginning inventory of finished goods (o) will be the desired ending intory of Finished goods for previous quartered in Quarter as the value forte the question Part 4: The Direct Materials Budget for the year ended December 31, 2015 Following is given in the question Direct Materials needed are 15 per unit Cost of RM 1.50 per kg Desired ending inventory of raw material of netter production de Ow Required From 10.30 11.300 (A Production needs (0) DIA) 15 At Desire 1000 1600 21300 yo 6,68,000-10% 1000000 230000 22.00 Total needs (0) 18.0) Deduct: Beginning lewentory of RW materials B. (C) value of Previous Quarter Raw materials to be purchased (F) 14.00 2.1 [D-E) Cost of Raw materials to be purchased [F1.50 per KOJ Parts Schedule of expected cash disbursements for materials As per the question it is expected to pay 50% of payment in the period of purchase and some next period to following would be the cash disbursement for charter Acom yake Finse 111,600 11,600 how (A) (82,22.200-50%) 182,23,200-50%) Sed Quarter $127,350 3127350 (82,54,700-50% 182,54,700-5014 Thund Quarter $141.525 51,41,525 Prawo (12, 27,000 (12, 25, scam F 51.60.600 2.2.300 Th137,400 $25,000 1,171,800 12,35,980 (A+)5263,75 (8C) 3,02,775 100) Payal 111,600 $427,350 3141525 $1,50,60 Ching ($2,23,200-50%) 182,54,700 50% (52,83,050-50% 183,21,300-509 bile First Quarter $1,11,600 $1,11,600 purchase (A) ($2,23,200*50%) ($2,23,200*50%) Second $1,27,350 $1,27,350 Quarter purchase (B) ($2,54,700*50%) ($2,54,700*50%) Third Quarter $1,41,525 $1,41,525 purchase (C) ($2,83,050*50%) ($2,83,050*50%) Fourth $1,60,650 Quarter purchase (D) ($3,21,300*50%) Total Cash $1,37,400 Disbursement ($25,800+$1,11,600) $2,38,950 (A+B) $2,68,875 (B+C) $3,02,175 (C+D) Accounts Payable $1,11,600 $1,27,350 $1,41,525 $1,60,650 Closing ($2,23,200*50%) ($2,54,700*50%) ($2,83,050*50%) ($3,21,300*50%) balance Part 5: Schedule of expected cash disbursements for materials- As per the question it is expected to pay 50% of payment in the period of purchase and 50% in the next period, so following would be the Cash disbursement for each quarter Quarter 1 Quarter 2 Quarter 3 Quarter 4 Accounts payable beginning $25,800 $1,11,600 $1,27,350 $1,41,525 balance First Quarter $1,11,600 $1,11,600 purchase (A) ($2,23,200*50%) ($2,23,200*50%) Second Quarter $1,27,350 $1,27,350 purchase (B) ($2,54,700*50%) ($2,54,700*50%) Third Quarter $1,41,525 $1,41,525 purchase (C) ($2,83,050*50%) ($2,83,050*50%) Fourth Quarter $1,60,650 purchase (D) ($3,21,300-50%) Total needs (D) 1,69,800 1.86,600 2,07,300 2,35,500 (B+C) Deduct: Beginning Inventory of Raw materials(E) 21,000 16,800 18,600 21,300 [i.e (C) value of Previous Quarter] Raw materials to be purchased (F) 1,48,800 1,69,800 1,88,700 2,14,200 [D-EJ Cost of Raw materials to be purchased $2,23,200 $2,54,700 $2,83,050 $3,21,300 (F. 1.50 per KG] Part 5: Schedule of expected cash disbursements for materials- As per the question it is expected to pay 50% of payment in the period of purchase and 50% in the next period, so following would be the Cash disbursement for each quarter Quarter 1 Omonter 2 Quarter 3 Quarter 4 in the question. Part 4: The Direct Materials Budget for the year ended December 31, 2019- Following is given in the question-a) Direct Materials needed are 15Kg per unit b) Cost of RM is $1.50 per kg c) Desired ending inventory of raw material- 10% of next quarter production needs Quarter 1 Quarter 2 Quarter 3 Quarter 4 Required production in cases (From Part 3 10,200 11.200 12,400 14,200 answer) (A) Production needs (B) 1,53,000 1,68,000 1,86,000 2,13,000 [(A)*15kg] Add: Desired ending 16800 18600 21300 inventory of raw 22,500 materials (C) (1,68,000*10%) (186000*10%) (213000*10%) Total needs (D) 1,69,800 1.86,600 2,07,300 2,35,500 (B+C) Deduct: Beginning balance Note: It has been assumed that the $80,000 balance in the beginning of the year will be received in the first quarter itself and hence has been considered in cash collection for the first quarter. Part 3: The Production Budget for the year ended December 31, 2019- Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budgeted sales (In Units) 10,000 11,000 12,000 14,000 (A) Add: Desired ending 2,200 2,400 2,800 3,000 inventory of finished goods (B) (11,000*20%) (12000*20%) (14000*20%) (Given) Total needs (C) (A+B) 12,200 13,400 14800 17000 Deduct: Beginning Inventory of finished 2,000 (Given) 2,200 2.400 2,800 goods (D) Required Production (C- 10,200 11,200 D) 12,400 14,200 Note: The beginning Inventory of fininshed goods (D) will be the desired ending inventory of Finished goods for previous quarter except in Quarter 1, as the value for Quarter 1 is already given in the question. First $52,500 $2,97,500 Quarter ($3,50,000*85%) ($3,50,000*15%) Sales Second $3,27,250 $57,750 Quarter ($3,85,000*85%) ($3,85,000*15%) Sales Third $3,57,000 $63,000 Quarter ($4,20,000*85%) ($4,20,000*15%) Sales Fourth $4,16,500 Quarter ($4,90,000*85%) Sales Total $3,77,500 $3,79,750 $4,14,750 $4,79,500 Cash Collection ($80,000+$2,97,500) ($52500+$327250) ($57,750+$3,57,000) ($63,000+$4,16,500) Accounts receivable $52,500 $57,750 $63,000 $73,500 Closing ($3,50,000*15%) ($3,85,000*15%) ($4,20,000*15%) ($4,90,000*15%) halance Answer: Part 1: The Sales Budget for the year ended December 31, 2019- Quarter Quarter 2 Quarter 3 Quarter 4 Total Expected Sales 10,000 11,000 12,000 14,000 (Units) 47,000 Selling Price (Per $35 $35 $35 $35 $35 Unit) Total Budgeted $3,50,000 $3,85,000 $4,20,000 $4,90,000 $16,45,000 Sales Note: The Budgeted sales (In $) would be the expected sales multiplied by the selling price per unit. Part 2: Schedule of expected cash collection- Quarter 1 Quarter 2 Quarter 3 Quarter 4 Accounts receivable $80,000 $52,500 $57,750 $63,000 beginning balance First $2,97,500 $52,500 Quarter ($3,50,000*85%) ( ,$)
