Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone please help me prepare a sales budget? I make sure to give a great rating if done correctly! I have included a list

Can someone please help me prepare a sales budget? I make sure to give a great rating if done correctly! I have included a list of the drop down menu items. Thank you,

image text in transcribed

image text in transcribed

image text in transcribed

Waterways Corporation is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year. Waterways gathered the following information from the managers Sales Unit sales for November 2016 Unit sales for December 2016 Expected unit sales for January 2017 Expected unit sales for February 2017 Expected unit sales for March 2017 Expected unit sales for April 2017 Expected unit sales for May 2017 Unit selling price 112,500 102,100 113,000 112,500 116,000 125,000 137,500 $12 waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2016, totaled $183,780 Direct Materials Item Metal Plastic Rubber Amount Used per Uni 1 lb @ 58 per lb 12 oz @ 6 per oz 4 oz @ 5 per oz 2 lbs per unit Metal, plastic, and rubber together are 75 per pound per unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Transformation Regulation Digitalisation And Sustainability

Authors: Jan Marton, Fredrik Nilsson, Peter Öhman

1st Edition

103253303X, 978-1032533032

More Books

Students also viewed these Accounting questions

Question

What is job rotation ?

Answered: 1 week ago