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I am needing Chapter 21,all completed by October 4 (thank you so much). I NEED THIS ALL COMPLETED BY OCTOBER 4, 2016 (PLEASE) Chapter 21
I am needing Chapter 21,all completed by October 4 (thank you so much).
I NEED THIS ALL COMPLETED BY OCTOBER 4, 2016 (PLEASE) Chapter 21 PE 21-2A Production budget MyLife Chronicles Inc. projected sales of 240,000 dairies for 2016. The estimated January 1, 2016, inventory is 19,000 units, and the desired December 31, 2016, inventory is 18,800 units. What is the budgeted production (in units) for 2016? EX 21-2 Flexible budget for selling and administrative expenses for a service company Cloud Productivity Inc. flexible budgets that are based on the following data: Sales commission ................................................................. 14% of sales Advertising expense ............................................................. 18% of sales Miscellaneous administrative expense............................... $6,500 per month plus 12% of sales Office salaries expense.......................................................... $28,000 per month Customer support expenses................................................. $12,000 per month plus 20% of sales Research and development expense................................... 430,000 per month Prepare a flexible selling and administrative expenses budget for March 2016 for sales volumes of $400,000, $500,000, and $600,000. EX 21-10 direct materials purchases budget Coca-Cola Enterprises is the largest bottler of Coca-Cola in Western Europe. The company purchases Coke and Sprite concentrate from The Coca-Cola Company, dilutes and mixes the concentrate with carbonated water, and then fills the blended beverage into cans or plastic two-liter bottles. Assume that the estimated production for Coke and Sprite two-liter bottles at the Wakefield, UK, and bottling plant are as follows for the month of May: Coke 153,000 two-liter bottles Sprite 86,000 two-liter bottles In addition, assume that the concentrate costs $75 per pound for both Coke and Sprite and is used at a rate of 0.15 pound per 100 liters of carbonated water in blending Coke liters of carbonated water are used for each two-liter bottle of finished product. Assume further that two-liter bottles cost $0.08 per bottle and carbonated water cost $0.06 per liter. Prepare a direct materials purchases budget for May 2016, assuming inventories are ignored, because there are no changes between beginning and ending inventories for concentrate, bottles, and carbonated water. PR 21-4A Cash budget The controller of Sonoma Housewares Inc. Instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales.................................................................................................. $86,000 $90,000 $95,000 Manufacturing costs....................................................................... 34,000 39,000 44,000 Selling and administrative expenses............................................ 15,000 16,000 22,000 Capital expenditures....................................................................... 80,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $3,500 of the estimated monthly manufacturing costs. The annual insurance premium is paid in September, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Current assets as of May 1 include cash of $33,000, marketable securities of $40,000, and accounts receivable of $90,000 ($70,000 from April sales and $18,000 from March sales). Sales on account for March and April sales were $60,000 and $72,000, respectively. Current liabilities as of May 1 include $6,000 of accounts payable incurred in April for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $14,000 will be made in June. Sonoma's regular quarterly dividend of $5,000 is expected to be declared in June and paid in July. Management desires to maintain a minimum cash balance of $30,000. Instructions: 1. Prepare a monthly cash budget and supporting schedules for May, June, and July 2016. 2. On the basis of the cash budget prepared in part (1), what recommendation should be made to the controllerStep by Step Solution
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