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Bombs Away Video Games Corporation has forecasted the following monthly sales: January February March April May June $ 101,000 July $ 46,000 94,000 August 46,000 26,000 September 56,000 26,000 October 86,000 21,000 November 106,000 36,000 December 124,000 Total annual sales = $768,000 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, 40 percent are for cash and 60 percent are on account. All accounts receivable are collected in the month after the sale is made. a. Construct a monthly production and inventory schedule in units. Beginning inventory in January is 26,000 units. Return to qu d. Prepare a monthly cash budget for January through December using the cash receipts schedule from part band the cash payments schedule from part c. The beginning cash balance is $5,000, which is also the minimum desired. (Negative amounts should be indicated by a minus sign.) Answer is complete but not entirely correct. June Bombs Away Video Games Corporation Cash Budget January February March 5,000 $ 33,800 60,400 $ 28,800 26,600 (4,800) 33.800 $ 60,400 $ 55,600 $ $ Beginning cash Net cash flow April 55,600 (45,600) 10,000 > $ $ May 10,000 (47,600) (42,600) 47,600 5,000 $ 47,600 X $ $ 50,000 (44,600) (39,600) 44,600 5,000 92,200 X GA 0 $ 0 $ 0 Cumulative cash balance Monthly loan or (repayment) Ending cash balance Cumulative loan balance $ | 6 | 6 0 $ 33,800 60 60,400 55,600 $ 10,000 $ 0 0 0 0 $ Return to question Answer is complete but not entirely correct. October November December $ 5,000 $ 5,000 $ Bombs Away Video Games Corporation Cash Budget July August September 5,000 $ 5,000 $ 5,000 (31,600) (25,600) (21,600) (26,600) $ (20,600) $ (16,600) $ 31,600 25,600 21,600 5,000 $ 5,000 $ 5,000 $ 123,800 X $ 149.400 X $ 171,000 X $ 5,000 41,600 (3,600) 1,400 $ $ Beginning cash Net cash flow Cumulative cash balance Monthly loan or (repayment) Ending cash balance Cumulative loan balance 46.600 22,400 27,400 (22,400) 5,000 3,600 (41,600) 5,000 5 5,000 $ 1,714,600 X $ 5 152,200 X $ 110,600 X W EN View previous attempt Che Problem 6-21 Level production and related financing effects (L06-3) Bombs Away Video Games Corporation has forecasted the following monthly sales: 18:10 January February March April May June $ 101,000 July 94,000 August 26,000 September 26,000 October 21,000 November 36,000 December Total annual sales = $768,000 $ 46000 46,000 56,000 86,000 106 000 124.000 ok ht nces Bombs Away Video Games sells the popular Strafe and Capture video game.llt 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, 40 percent are for cash and 60 percent are on account All accounts receivable are collected in the month after the sale is made. Prey Next a. Construct a monthly production and inventory schedule in units. Beginning inventory in January is 26,000 units. Bombs Away Video Games Corporation Production and Inventory Schedule in Units Beginning Production Sales Inventory 26,000 12.800 20 200 + Ending Inventory 18 600 8 18.600 12.800 18.800 12.600 12.600 12 800 5200 20.200 BE 20.200 12 800 5 200 27.800 27 800 12.800 January February March April May June July August September October 4.200 36 400 es 36.400 12.800 7 200 42 000 42.000 12,800 9 200 45 600 45.600 12 800 9.200 49 200 49.200 12,800 11.2002 50,800 50.800 12.800 117 200 146.400 November 46.400 12.800 21.200 38.000 Prem Next > W . A 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 February March S 94,000 $ 26,000 $ 17:43 May June January 101.000 April 26.000 $ Sales $ 21,000 $ 36,000 Cash receipts ook Cash sales $ 40,400 $ $ 8.400 $ Prior month's credit sales 37.600 $ 60.600 98.200 60.000 100,400 $ 10,400 56,400 66,800 10,400 $ 15.600 26,000 $ 14.400 12,600 27,000 ences Total cash receipts 15.600 24.000 $ $ $ - WAT Bombs Away Video Games Corporation Cash Receipts Schedule July August September 46,000 46 000 9 56,000 $ October November 86,000 $ 106.000 December $ 124.000 $ Sales Cash receipts Cash sales Prior month's credit sales $ 6P 18.400 $ 18.400 22 400 $ 34.400 42.400 49,600 21.600 27 600 27.600 33.600 51.600 63.600 Total cash receipts $ 40.000 $ 46 000 9 50.000 5 68.000 $ 94,000 $ 113.200 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 the car tharrach naumante hacirlog those in 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 $46,000 per month. 25 June Bombs Away Video Games Corporation Cash Payments Schedule January February March $ 25,600 $ 25 600 $ 25.600 46,000 46.000 46,000 $ 71.600 $ 71600 9 71,600 S Production cost Other cash payments Total cash payments April 25,600 46,000 71.600 May 25,600 46,000 71,600 25,600 46,000 71,600 $ $ Les Prem Next > W -17:11 November December Bombs Away Video Games Corporation Cash Payments Schedule July August September October 25,600 5 25.600 $ 25,600 $ 25,600 46.000 46.000 46.000 46,000 71600 9 71,600 71,600 71,600 Production cost $ $ 25,600 25,600 ok Other cash payments Total cash payments $ 46.000 71,600 46,000 71,600 $ int ences d. Prepare a monthly cash budget for January through December using the cash receipts schedule from part band the cash payments schedule from part c. The beginning cash balance is $5,000, which is also the minimum desired. (Negative amounts should be indicated by a minus sign.) Prey of 11 Next > WA PO O d. Prepare a monthly cash budget for January through December using the cash receipts schedule from part band the cash payments schedule from part c. The beginning cash balance is $5,000, which is also the minimum desired. (Negative amounts should be indicated by a minus sign.) X Answer is complete but not entirely correct. 02:16:47 April June Bombs Away Video Games Corporation Cash Budget January February March 5,000 $ 33,800 $ 60.400 28.800 26,600 (4,800) 33.800 60.400 $ 55,600 $ $ 55,600 EA ta >> SS >> (45,600) $ 10.000 $ Beginning cash Net cash flow Cumulative cash balance Monthly loan or (repayment) Ending cash balance Cumulative loan balance EA 6A XX May 10,000 (47,600) (42,600) 47.600 5,000 $ 47,600 X $ 50,000 (44,600) (39,600) 44,600 5,000 92,200 $ 0 0 $ 0 6962 EREA $ 33,800 $ 60,400 $ 55,600 $ 10,000 O $ 0 699 || 69 0 $ 0 09 Mc Graw Hill W X Answer is complete but not entirely correct. October November December 5,000 $ 69 eginning cash et cash flow Bombs Away Video Games Corporation Cash Budget July August September 5,000 5 5,000 $ 5,000 $ (31,600) (25,600) (21,600) (26,600) 3 (20,600) (16,600) 31.600 25.600 21,600 5.000 5.000 5 5,000 123,800 $ 149.400 $ 171.000 XS 41,600 46.600 Cumulative cash balance $ 5,000 (3,600) 1,400 3,600 5.000 1,714,600 X $ 5,000 22.400 27,400 (22,400) 5.000 152,200 X Monthly loan or (repayment) Ending cash balance Cumulative loan balance (41,600) 5,000 110.600 5 K Prey 7 of 11 12 Next > WA