At the beginning of the school year, Cnaig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuibion; which is the same as the fall tuition. The following information relates to the budget This information has been collected in the Microsort Excel Online fie, Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease which sheuld be indicated with a minus sign. minus sign Deudet for September, October, November, and December. Enter all amounts as positive values except cash decrease which should be indicated with Craig Kovar Cash Budget For the Four Months Ending December 31 Estimated cash receipts from: September October November December Total cash receipts Less estimated cash payments for Total cash payments Cash increase (decrease) Cash balance at end of month b. Are the four monthil budgets that are presented prepared as static budgets or flexible budeets? Chack My Work B. Nre the four monthy budgets that are presented prepared as static budgets or flevible budgets? What are the budget impleations for Craig Kovar? Creg can set thet his present plan Sulhcient cash, if Craig did not budget but went abead with the eriginal plan, he would be I at the end of December, with no time let to asluit. Direct matecials purchases budget Tobin's Frozen Pure inc has determined from ita production budget the following entimated productian volumes for 12 and 16 " frozen plrzas for Novembeet. There are three direct materials used in produding the two types of pigat. The quantwes of direct materials expected to be used for each pizza are as follows: In addition, Tobin's has determined the following information about each materials, This information has been collected in the Microson Excel Online file. Open the spreadsheet, perform the required analysis, and input vour answers in the question below Open spreadsheet Prepare November's direct materials purchases budget for Tobin's frozen Pirza Inc. For those boves in which you must enter subtracted or negative numbers use a minus sign. Round your final answers to the nearest dollar: Prepare Novenber's direct msterials purchases budget for Tobin's Froten Pura Inc. For those bokes in which you must enter subtracted or negative numbers use a minus sign. Round your final answers to the nearest doliar. Schedule of cash collections of accounts receivable Pampered Pal inc, a pet supples distributor, was organked on January 1. Projected sales for each of the first three months of operations are as fallows: Al sales are on account. Callections are expected as follows. 75% of sales are expected to be collected in the month of the sale, 15% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash coliections from sales for January, February, and March. Enter all amounts as positive numbers. Schedule of cash collections of accounts receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OrficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customen. Ot the predit customers, 30% pay their accounts in the menth of sale, while the remaining 70% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: The Accounts Receivable balance on September 30 was $35,000. Prepare a schedule of cash collections from sales for October, November, and December Finter all amounts as pesitive numbers. month of sale. Projected sales for the next three months are as follows: The Accounts Recelvable balance on September 30 was $35,000. Prepare a schedule of cash collections from sales for October, November, and December. Enter all amounts a
