Master Budget Project Group W3 Vaughan Company makes AMAZING SUPER DUPER Widgets. Management is now preparing detailed budgets for the third quarter, July through September, and has assembled the following information to assist in budget preparation: 1. Sales Budget The marketing department has estimated sales as follows for the remainder of the year: (Actual sales in June were 5,000 units) \begin{tabular}{|r|r|l|l|} \hline July & 4,000 & October & 4,000 \\ \hline August & 25,000 & November & 6,000 \\ \hline September & 15,000 & December & 8,000 \\ \hline \end{tabular} The selling price of a SUPER DUPER widget is $80 and all sales are on account. Sales Price Based on past experience, sales are collected in the following pattern: Based on past experience, sales are collected in the following pattern: From here we go to the cash budget. We need to know cash receipts, cash disbursements, Cash flows/deficit, and the financing section. Vaughan's cash guidelines are as follows: They have a line of credit that can be accessed in $1,000 increments at an anual interest rate of 12%. Money will be borrowed on the last day of a given month and paid back on the last day of the month when it can be. Minimum cash balance required by Vaughan is $50,00 The beginning cash balance on July 1 is $50,000. Interest is paid when money is paid back. Master Budget Project Group W3 Vaughan Company makes AMAZING SUPER DUPER Widgets. Management is now preparing detailed budgets for the third quarter, July through September, and has assembled the following information to assist in budget preparation: 1. Sales Budget The marketing department has estimated sales as follows for the remainder of the year: (Actual sales in June were 5,000 units) \begin{tabular}{|r|r|l|l|} \hline July & 4,000 & October & 4,000 \\ \hline August & 25,000 & November & 6,000 \\ \hline September & 15,000 & December & 8,000 \\ \hline \end{tabular} The selling price of a SUPER DUPER widget is $80 and all sales are on account. Sales Price Based on past experience, sales are collected in the following pattern: Based on past experience, sales are collected in the following pattern: From here we go to the cash budget. We need to know cash receipts, cash disbursements, Cash flows/deficit, and the financing section. Vaughan's cash guidelines are as follows: They have a line of credit that can be accessed in $1,000 increments at an anual interest rate of 12%. Money will be borrowed on the last day of a given month and paid back on the last day of the month when it can be. Minimum cash balance required by Vaughan is $50,00 The beginning cash balance on July 1 is $50,000. Interest is paid when money is paid back
