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Can someone tell me how to calculate the following entries? Accounts Receivable (total sales dollars 4th qtr * Percent of credit sales collected QTR after

Can someone tell me how to calculate the following entries?

Accounts Receivable (total sales dollars 4th qtr * Percent of credit sales collected QTR after sale), Accounts payable (you figure out), Retained earnings (you figure out.hint, back into this)

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image text in transcribed

Summer Flowers Company is preparing the budget for the year ended 12/31/2018 Sales projections are as follows: 3ra 38,000 Unit Sales 25,000 18,000 39,000 26,000 22,000 40,000 . Unit sales price is $29.00 Percent of cash sales collected in the period 40% Percent of credit sales collected in period of sale 40% Percent of credit sales collected after quarter of sale 20% Desired ending inventory percentage of next quarters production needs 20% Amount of materials needed for unit to be produced is 8 pounds Desired ending inventory percentage of next quarters materials needs 15 Cost of raw materials to purchased per unit $.16, which is the same cost as the materials purchased in 2017 Percentage of purchases paid for in the period of purchase 60% Percentage of purchase paid for in the subs Direct lahor hours required to produce one unit .25 hours sequent quarter 40% Cost per direct labor hour $18.00 . Cost of variable factory overhead per direct labor hour $2.80 .Cost of Variable SG&A per unit sold 53.00 Minimum required cash balance $20,000 Quarterly interest rate on loans outstanding charged from the beginning of the quarter 3% .Cost per unit of the prior year finished goods inventory $8.00

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