Answer question 1 untill question 3

EXERCISE 10: BUDGETING & PLANNING QUESTION 1 Selected information for Juju Food Trading for the third quarter of 2018 are summarized as follows: a) The sale for July is estimated for 15,000 units. The sales for following months are expected to increase by 25% from the previous month. The selling price is RM10.50 per unit. The sales for May and June were 7000 and 9000 units respectively. b) Sales are collected in the following pattern: 70% in the quarter the sales are made, . and the remaining 30% in the following quarter. Prepare the sales budgets for the third quarter of 2018 (July, August, and September): QUESTION 2 Bell Telecom has budgeted sales of its innovative mobile phone for next four months as follows: Sales Budget in Units July 30,000 August 45,000 September 60,000 October 50,000 The company is now in the process of preparing a production budget for the third quarter. Ending inventory level must equal 10% of the next month's sales. a) Calculate the ending inventory as of June 30. b) Prepare a production budget for the third quarter showing the number of units to be produced each month and for the quarter in total. QUESTION 3 Texas Products has developed a very powerful electronic calculator. Each calculator requires three small chips that cost $2.00 each and are purchased from an overseas supplier. Texas Products has prepared a production budget for the calculator by quarters for Year 2 and for the first quarter of Year 3, as follows: Year 2 Year 3 First Second Third Fourth First Budgeted productions, in calculators 60,000 90,000 150,000 100,000 80,000 The inventory of the chips at the end of a quarter must be equal to 20% of the following quarter's production needs. There will be 36,000 chips on hand to start the first quarter of Year 2. Prepare direct materials budget for the chips, by quarter and in total, for Year 2 including the dollar amount of purchases for each quarter and for the year in total