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I need ques 1 part c and d ques 2 and ques 3 ques 4 too if possible please 120350 You have just been hired
I need ques 1 part c and d
120350 You have just been hired as a management trainee by Cravat Sales Company, a nationwide distributor of a designer's silk ties. The company has an exclusive franchise on the distribution of the ties, and sales have grown so rapidly over the last few years that it has become necessary to add new members to the manage- ment team. You have been given responsibility for all planning and budgeting. Your first assignment is to prepare a master budget for the next three months, starting April 1. You are anxious to make a favourable impression on the president and have assembled the information below. The company desires a minimum ending cash balance each month of $10,000. The ties are sold to retailers for $8 each. Recent and forecasted sales in units are as follows: 44 January (actual) 20,000 February (actual) 24,000 March (actual) 28,000 April 35,000 May 45,000 June 60,000 July 40,000 August 36,000 September 32,000 The large buildup in sales before and during June is due to Father's Day. Ending inventories are equal 90% of the next month's sales in units. The ties cost the company $5 each. supposed to Budgeting Purchases are paid for as follows: Son in the month of the in the town mit All sales are on credit with bodian payable within 15 dan The hand, Put only 25 of a monthles are collected by mohol sorolled in the Allwing month, and the remaining 15 section the second moshing Beddele The company's monthly selling and administerio negligible Varian Saline.com Fixed Wapewnia 132.000 w Depreciate Miscells SI.500 Il selling and administrative expenses are paid during the month is with the exception of deprecia and murance expired. Land will be purchased during Muy for $95.6.cash The company declares dividends of $12.000 cach quarter payable in the first month of the following uuter. The company bolsoce sheet at March 31 is given below: 240 Cash Accounts receivable (548.000 February sale $16.000 Manches inctory (31.500 units Prepaid in varnos Fast, net of depreciation $ 14,000 216.000 157.500 14,400 172.700 5934.0 Liabilities and Shareholders' Equity Accounts payable Dividends payable Cumuman share Retained carings Total liabilities and shareholders' equity 55.750 12.000 300LDOO 176. SO 5574.00 The company has an agreement with a bank that allows it to borrowincrements of 51.000 at the beginning ench month, up to a total loan balance of $140.000. The interest rate on these loans is 15 per month, and Ismplicity, we will assume that interest is not compounded. At the end of the quarter, the company would Tuy the bank all of the accumulated interest on the loan and as much of the loan as possible (increments 51.000), while still retaining at least 510,000 in cash. Required: Propue a mawer budget for the three-month period ending June 30. Include the following detailed budgets 14. A sales badget by month and in total schedule of expected cash collections from sales by the instal A merchandise purchases budget in units and in dollars. Show the budget by month and in total 4. A schedule of expected cash disbursements for merchandise purchases by mooth und in total A cash budget. Show the budget by month and in total budgeted income statement for the three-month period ending June 30. Use the contribution A hudgetod balance sheet as of June 30 1 ques 2 and ques 3
ques 4 too if possible please
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