Answers must be placed into an Excel spreadsheet. Show all images Show all images Show all images done loading You have just been hired as

Answers must be placed into an Excel spreadsheet.

You have just been hired as a new management trainee by Sneekies Inc., a distributor of low-cost sneakers to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare comprehensive budgets for the upcoming first quarter in order to show management the benefits that can be gained from an integrated budgeting program. To this end, you have worked with accounting and other areas to gather the information assembled below. $24.00 per pair. Actual sales The company sells many styles of sneakers but all are sold for the same price of sneakers for the last three months and budgeted sales for the next six months follow (in pairs of shoes): October (actual) November (actual) December (actual) January (budget) February (budget) Sufficient inventory should be in the following month. The Company pays suppliers 37,000 29,000 48,000 45,000 70,000 March (budget) April (budget) May (budget) June (budget) on hand at the end of each month to supply 57,000 52,000 49,000 36,000 20.0% of the shoes sold 15.00 for a pair of shoes. One-half of a month's purchases is paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found sales are collected as follows: 55% of a month's sales are collected in the month of sale is collected in the following month is collected in the second month following sale