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Freese incorporated is in the process of prepsing the fouth quarter budget for 2022, and the following dato hove been assembled: - The company seals
Freese incorporated is in the process of prepsing the fouth quarter budget for 2022, and the following dato hove been assembled: - The company seals a single product at a peice of $50 per unit. The estimated sales valume for the nest six monthis is as follows - Al salet are on accoant. The company's collection experience has been that 33k of a month's sales ace colected in the mocth of sale, 65% are collected in the month foliowing the salo, and 2% are uncollectible. It is eupected that the net realizteble value of accounts receivable (i.e, accounts recelvable less allowance for uncolloctible accounts) will be 5845,000 on 5 eptember 30 , 2022 - Management's policy is to maintain ending finished goods inventory each month at a level equal to 40 s of the next month's budgeted sales. The finished goods invedtory on September 30.2022, is expected to be 9.600 units. - To make one unit of finshed product five pounds of manetals are tequired. Managements policyis to have enough materials on hand of the end of each month to equal 30% of the next month's estimated wsage. The caw materials inventory is expected to be 3 th.400 pounds on September 30,2022 . - The cost per pound of raw materiel is 54 , and 75K of all purchases we paid for in the month of purchase. the remainder is psid in the following month. The accounts poysble for taw material pucchases is expected to be 5126.600 ca S eptember 30.2022. Pequired: A. Prepere a soles budget in units and dollars, by month and in total, for the fourth quacter (October, Noveniber, and Decembed of 2022. b. Prepare a schedule of cosh collections from sales, by month and in total, for the fourth cuarter of 2022. c. Prepare a production budgot in units. by month and in total, for the fourth guarter of 2022. d. Prepare a moterials purchases budget in pounds, by month and in total, for the fourth quarter of 2022. e. Prepsre an schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022 . Complete this question by entering yeur answers in the tabs belew. Freese incorporated is in the process of prepsing the fouth quarter budget for 2022, and the following dato hove been assembled: - The company seals a single product at a peice of $50 per unit. The estimated sales valume for the nest six monthis is as follows - Al salet are on accoant. The company's collection experience has been that 33k of a month's sales ace colected in the mocth of sale, 65% are collected in the month foliowing the salo, and 2% are uncollectible. It is eupected that the net realizteble value of accounts receivable (i.e, accounts recelvable less allowance for uncolloctible accounts) will be 5845,000 on 5 eptember 30 , 2022 - Management's policy is to maintain ending finished goods inventory each month at a level equal to 40 s of the next month's budgeted sales. The finished goods invedtory on September 30.2022, is expected to be 9.600 units. - To make one unit of finshed product five pounds of manetals are tequired. Managements policyis to have enough materials on hand of the end of each month to equal 30% of the next month's estimated wsage. The caw materials inventory is expected to be 3 th.400 pounds on September 30,2022 . - The cost per pound of raw materiel is 54 , and 75K of all purchases we paid for in the month of purchase. the remainder is psid in the following month. The accounts poysble for taw material pucchases is expected to be 5126.600 ca S eptember 30.2022. Pequired: A. Prepere a soles budget in units and dollars, by month and in total, for the fourth quacter (October, Noveniber, and Decembed of 2022. b. Prepare a schedule of cosh collections from sales, by month and in total, for the fourth cuarter of 2022. c. Prepare a production budgot in units. by month and in total, for the fourth guarter of 2022. d. Prepare a moterials purchases budget in pounds, by month and in total, for the fourth quarter of 2022. e. Prepsre an schedule of cash payments for materials, by month and in total, for the fourth quarter of 2022 . Complete this question by entering yeur answers in the tabs belew
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