\begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow[t]{2}{*}{ Data } & \multicolumn{4}{|c|}{ Year 2 Quarter } & \multicolumn{2}{|c|}{ Year 3 Quarter } \\ \hline & 1 & r & 3 & 4 & r & 2 \\ \hline Budgeted unit sales & 50,000 & 60,000 & 112,000 & 50,000 & 70,000 & 78,000 \\ \hline - Selling price per unit & $8 & & & & & \\ \hline - Accounts receivable, beginning balance & $65,000 & & & & & \\ \hline - Sales collected in the quarter sales are made & 75% & & & & & \\ \hline - Sales collected in the quarter after sales are n & 25% & & & & & \\ \hline - Desired ending finished goods inventory is & 30% & \multicolumn{5}{|c|}{ of the budgeted unit sales of the next quarter } \\ \hline - Finished goods inventory, beginning & 12,000 & units & & & & \\ \hline - Raw materials required to produce one unit & 5 & pounds & & & & \\ \hline - Desired ending inventory of raw materials is & 10% & \multicolumn{4}{|c|}{ of the next quarter's production needs } & \\ \hline - Raw materials inventory, beginning & 23,000 & pounds & & & & \\ \hline - Raw material costs & $0.80 & per pound & & & & \\ \hline - Raw materials purchases are paid & 60% & \multicolumn{4}{|c|}{ in the quarter the purchases are made } & \\ \hline and & 40% & \multicolumn{3}{|c|}{ in the quarter following purchase } & & \\ \hline - Accounts payable for raw materials, beginning & $81,500 & & & & & \\ \hline \multicolumn{7}{|l|}{ Review Problem: Budget Schedules } \\ \hline \multirow[t]{2}{*}{ Construct the sales budget } & \multicolumn{4}{|c|}{ Year 2 Quarter } & \multicolumn{2}{|c|}{ Year 3 Quarter } \\ \hline & 1 & 2 & 3 & 4 & r & 2 \\ \hline \multicolumn{7}{|l|}{ Budgeted unit sales } \\ \hline \multirow{2}{*}{\multicolumn{7}{|c|}{\begin{tabular}{l} Selling price per unit \\ Total sales \end{tabular}}} \\ \hline & & & & & & \\ \hline Construct the schedule of expected cash coll & & Year 20 & larter & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[t]{2}{*}{ Construct the schedule of expected cash collt } & \multicolumn{8}{|c|}{ Year 2 Quarter } & \multirow{2}{*}{\multicolumn{2}{|c|}{ Year }} & & \\ \hline & & 1 & r & 2 & & 3 & r & 4 & & & & \\ \hline \multicolumn{13}{|l|}{ Beginning balance accounts receivable } \\ \hline \multicolumn{13}{|l|}{ First-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Second-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Third-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Fourth-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Total cash collections } \\ \hline \multirow[t]{2}{*}{ Construct the production budget } & \multicolumn{8}{|c|}{ Year 2 Quarter } & \multirow{2}{*}{\multicolumn{2}{|c|}{ Year }} & \multicolumn{2}{|c|}{ Year 3 Quarter } \\ \hline & & 1 & & 2 & & 3 & r & 4 & & & 1 & 2 \\ \hline \multicolumn{13}{|l|}{\begin{tabular}{l} Budgeted unit sales \\ Add desired ending finished goods inventory \end{tabular}} \\ \hline \multicolumn{13}{|l|}{ Add desired ending finished goods inventory } \\ \hline \multicolumn{13}{|l|}{ Total needs } \\ \hline \multicolumn{13}{|l|}{ Less beginning finished goods inventory } \\ \hline \multicolumn{13}{|l|}{ Required production in units } \\ \hline \multirow{2}{*}{ Construct the raw materials purchases budgt } & \multirow{2}{*}{\multicolumn{8}{|c|}{ Year 2 Quarter }} & \multirow{2}{*}{\multicolumn{4}{|c|}{ Year 3 Quarter }} \\ \hline & & & & & & & & & & & & \\ \hline Required production (units) & $ & & $ & 2 & $ & & $ & 4 & $ & - & $ & \\ \hline Raw materials required to produce one unit (po & $ & 5 & $ & 5 & $ & 5 & $ & 5 & $ & 5 & 5 & \\ \hline Production needs (pounds) & $ & - & $ & - & $ & - & $ & - & $ & - & $ & \\ \hline Add desired ending inventory of raw materials ( & & - & $ & - & $ & - & $ & - & $ & - & & \\ \hline Total needs (pounds) & $ & - & $ & - & $ & - & $ & - & $ & - & & \\ \hline Less beginning inventory of raw materials (pour & $ & 23,000 & $ & - & $ & - & $ & - & & 23,000 & & \\ \hline Raw materials to be purchased (pounds) & & (23,000) & $ & - & $ & - & $ & - & $ & (23,000) & & \\ \hline Cost of raw materials per pound & $ & 0.80 & $ & 0.80 & $ & 0.80 & $ & 0.80 & $ & 0.80 & & \\ \hline Cost of raw materials to be purchased & & (18,400) & $ & - & $ & - & $ & - & & (18,400) & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow[t]{2}{*}{ Data } & \multicolumn{4}{|c|}{ Year 2 Quarter } & \multicolumn{2}{|c|}{ Year 3 Quarter } \\ \hline & 1 & r & 3 & 4 & r & 2 \\ \hline Budgeted unit sales & 50,000 & 60,000 & 112,000 & 50,000 & 70,000 & 78,000 \\ \hline - Selling price per unit & $8 & & & & & \\ \hline - Accounts receivable, beginning balance & $65,000 & & & & & \\ \hline - Sales collected in the quarter sales are made & 75% & & & & & \\ \hline - Sales collected in the quarter after sales are n & 25% & & & & & \\ \hline - Desired ending finished goods inventory is & 30% & \multicolumn{5}{|c|}{ of the budgeted unit sales of the next quarter } \\ \hline - Finished goods inventory, beginning & 12,000 & units & & & & \\ \hline - Raw materials required to produce one unit & 5 & pounds & & & & \\ \hline - Desired ending inventory of raw materials is & 10% & \multicolumn{4}{|c|}{ of the next quarter's production needs } & \\ \hline - Raw materials inventory, beginning & 23,000 & pounds & & & & \\ \hline - Raw material costs & $0.80 & per pound & & & & \\ \hline - Raw materials purchases are paid & 60% & \multicolumn{4}{|c|}{ in the quarter the purchases are made } & \\ \hline and & 40% & \multicolumn{3}{|c|}{ in the quarter following purchase } & & \\ \hline - Accounts payable for raw materials, beginning & $81,500 & & & & & \\ \hline \multicolumn{7}{|l|}{ Review Problem: Budget Schedules } \\ \hline \multirow[t]{2}{*}{ Construct the sales budget } & \multicolumn{4}{|c|}{ Year 2 Quarter } & \multicolumn{2}{|c|}{ Year 3 Quarter } \\ \hline & 1 & 2 & 3 & 4 & r & 2 \\ \hline \multicolumn{7}{|l|}{ Budgeted unit sales } \\ \hline \multirow{2}{*}{\multicolumn{7}{|c|}{\begin{tabular}{l} Selling price per unit \\ Total sales \end{tabular}}} \\ \hline & & & & & & \\ \hline Construct the schedule of expected cash coll & & Year 20 & larter & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[t]{2}{*}{ Construct the schedule of expected cash collt } & \multicolumn{8}{|c|}{ Year 2 Quarter } & \multirow{2}{*}{\multicolumn{2}{|c|}{ Year }} & & \\ \hline & & 1 & r & 2 & & 3 & r & 4 & & & & \\ \hline \multicolumn{13}{|l|}{ Beginning balance accounts receivable } \\ \hline \multicolumn{13}{|l|}{ First-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Second-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Third-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Fourth-quarter sales } \\ \hline \multicolumn{13}{|l|}{ Total cash collections } \\ \hline \multirow[t]{2}{*}{ Construct the production budget } & \multicolumn{8}{|c|}{ Year 2 Quarter } & \multirow{2}{*}{\multicolumn{2}{|c|}{ Year }} & \multicolumn{2}{|c|}{ Year 3 Quarter } \\ \hline & & 1 & & 2 & & 3 & r & 4 & & & 1 & 2 \\ \hline \multicolumn{13}{|l|}{\begin{tabular}{l} Budgeted unit sales \\ Add desired ending finished goods inventory \end{tabular}} \\ \hline \multicolumn{13}{|l|}{ Add desired ending finished goods inventory } \\ \hline \multicolumn{13}{|l|}{ Total needs } \\ \hline \multicolumn{13}{|l|}{ Less beginning finished goods inventory } \\ \hline \multicolumn{13}{|l|}{ Required production in units } \\ \hline \multirow{2}{*}{ Construct the raw materials purchases budgt } & \multirow{2}{*}{\multicolumn{8}{|c|}{ Year 2 Quarter }} & \multirow{2}{*}{\multicolumn{4}{|c|}{ Year 3 Quarter }} \\ \hline & & & & & & & & & & & & \\ \hline Required production (units) & $ & & $ & 2 & $ & & $ & 4 & $ & - & $ & \\ \hline Raw materials required to produce one unit (po & $ & 5 & $ & 5 & $ & 5 & $ & 5 & $ & 5 & 5 & \\ \hline Production needs (pounds) & $ & - & $ & - & $ & - & $ & - & $ & - & $ & \\ \hline Add desired ending inventory of raw materials ( & & - & $ & - & $ & - & $ & - & $ & - & & \\ \hline Total needs (pounds) & $ & - & $ & - & $ & - & $ & - & $ & - & & \\ \hline Less beginning inventory of raw materials (pour & $ & 23,000 & $ & - & $ & - & $ & - & & 23,000 & & \\ \hline Raw materials to be purchased (pounds) & & (23,000) & $ & - & $ & - & $ & - & $ & (23,000) & & \\ \hline Cost of raw materials per pound & $ & 0.80 & $ & 0.80 & $ & 0.80 & $ & 0.80 & $ & 0.80 & & \\ \hline Cost of raw materials to be purchased & & (18,400) & $ & - & $ & - & $ & - & & (18,400) & & \\ \hline \end{tabular}