Bombs Away Video Games Corporation has forecasted the following monthly sales: January February $ 99,000 92,000...

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Bombs Away Video Games Corporation has forecasted the following monthly sales: January February $ 99,000 92,000 July $ 44,000 August 44,000 March 24,000 September 54,000 April 24,0001 October 84,000 May 19,000 November 104,000 June 34,000 December 122,000 Total annual sales $744,000 Bombs Away Video Games sells the popular Strafe and Capture video game. It sells for $5 per unit and costs $2 per unit to produce. A level production policy is followed. Each month's production is equal to annual sales (in units) divided by 12 Of each month's sales, 20 percent are for cash and 80 percent are on account. All accounts receivable are collected in the month after the sale is made b. Prepare a monthly schedule of cash receipts. Sales in December before the planning year are $100,000. Bombs Away Video Games Corporation Cash Receipts Schedule Sales Cash receipts: January February March April May June Cash sales Prior month's credit sales Total cash receipts $ $ 0 $ 0 $ 0 $ 0 $ 0 Sales July Bombs Away Video Games Corporation Cash Receipts Schedule August September October November December Cash receipts: Cash sales Prior month's credit sales Total cash receipts $ 0 $ $ 05 0 $ 0 $ c. Prepare a cash payments schedule for January through December. The production costs of $2 per unit are paid for in the month in which they occur. Other cash payments, besides those for production costs, are $44,000 per month. Bombs Away Video Games Corporation January Cash Payments Schedule February March April May June Production cost Other cash payments Total cash payments S 0 $ 0 $ S 0 S 0 $ 0 July Bombs Away Video Games Corporation Cash Payments Schedule August September October November December Production cost Other cash payments Total cash payments $ 0 $ 0 $ 0 S 0 $ 0 $ d. Prepare a monthly cash budget for January through December using the cash receipts schedule from part b and the cash payments schedule from part c. The beginning cash balance is $5,000, which is also the minimum desired. Note: Negative amounts should be indicated by a minus sign. Leave no cells blank be certain to enter 'O' wherever required. Bombs Away Video Games Corporation Beginning cash Net cash flow Cumulative cash balance Monthly loan or (repayment) Ending cash balance Cumulative loan balance Beginning cash Net cash flow Cumulative cash balance Monthly loan or (repayment) Ending cash balance Cumulative loan balance January July Cash Budget February March Bombs Away Video Games Corporation Cash Budget August September April May June October November December Bombs Away Video Games Corporation has forecasted the following monthly sales: January February $ 99,000 92,000 July $ 44,000 August 44,000 March 24,000 September 54,000 April 24,0001 October 84,000 May 19,000 November 104,000 June 34,000 December 122,000 Total annual sales $744,000 Bombs Away Video Games sells the popular Strafe and Capture video game. It sells for $5 per unit and costs $2 per unit to produce. A level production policy is followed. Each month's production is equal to annual sales (in units) divided by 12 Of each month's sales, 20 percent are for cash and 80 percent are on account. All accounts receivable are collected in the month after the sale is made b. Prepare a monthly schedule of cash receipts. Sales in December before the planning year are $100,000. Bombs Away Video Games Corporation Cash Receipts Schedule Sales Cash receipts: January February March April May June Cash sales Prior month's credit sales Total cash receipts $ $ 0 $ 0 $ 0 $ 0 $ 0 Sales July Bombs Away Video Games Corporation Cash Receipts Schedule August September October November December Cash receipts: Cash sales Prior month's credit sales Total cash receipts $ 0 $ $ 05 0 $ 0 $ c. Prepare a cash payments schedule for January through December. The production costs of $2 per unit are paid for in the month in which they occur. Other cash payments, besides those for production costs, are $44,000 per month. Bombs Away Video Games Corporation January Cash Payments Schedule February March April May June Production cost Other cash payments Total cash payments S 0 $ 0 $ S 0 S 0 $ 0 July Bombs Away Video Games Corporation Cash Payments Schedule August September October November December Production cost Other cash payments Total cash payments $ 0 $ 0 $ 0 S 0 $ 0 $ d. Prepare a monthly cash budget for January through December using the cash receipts schedule from part b and the cash payments schedule from part c. The beginning cash balance is $5,000, which is also the minimum desired. Note: Negative amounts should be indicated by a minus sign. Leave no cells blank be certain to enter 'O' wherever required. Bombs Away Video Games Corporation Beginning cash Net cash flow Cumulative cash balance Monthly loan or (repayment) Ending cash balance Cumulative loan balance Beginning cash Net cash flow Cumulative cash balance Monthly loan or (repayment) Ending cash balance Cumulative loan balance January July Cash Budget February March Bombs Away Video Games Corporation Cash Budget August September April May June October November December