Members Washes (Average per Member) January 430 1.5 February 490 1.8 March 1,ese 1.4 April May 1,198 1.3 1,220 1,370 1.6 2.1 June Cornwall allows members to pay for dues on credit. Cornwall's experience is that 40 percent of its members pay cash for the dues, 50 percent of the members pay the dues for a month in the next month, 5 percent in the second month after. The remainder is uncollectible. Additional washes are payable in cash. Cornwall estimates that the number of members in July should increase 20 percent above June levels, and the number of additional washes per member should increase by an estimated 12.5 percent. The following information is available for costs incurred in June. All costs except depreciation are paid in cash. Service costs Variable costs Equipment maintenance Depreciation (fixed) Total Marketing and administrative costs Marketing (variable) Administrative (fixed) Total Total costs $ 47,500 43,500 82,000 $ 173,000 $ 35,500 108,500 $ 144,000 $ 317,000 Variable service and marketing costs change with volume, measured by number of members. Fixed depreciation will remain the same. but fixed administrative costs will increase by 10 percent beginning July 1. Equipment maintenance is outsourced and the contract calls for a 5 percent increase beginning July 1. Required: Prepare a budgeted income statement for July. Note: Do not round Intermediate calculations. Enter your answers rounded to the nearest whole dollars. 27 6 points Dolson Appliances makes coffee machines for offices and homes. For next year, the production budget is 139,000 units. Beginning inventories will be 17,000 units and the desired ending inventory will be 15,000 units. Required: What is the sales budget for the coming year for Dolson Appliances? Sales budget eBook Print units 27 7 points eBook Cherboneau Novelties produces drink coasters (among many other products). During the current year (year 0), the company sold 532,000 units (packages of 6 coasters). In the coming year (year 1), the company expects to sell 564,000 units, and, in year 2, it expects to sell 768,000 units. The target ending finished goods inventory for each month is equal to the next month's sales. However, because of production issues, the ending inventory in the current year is expected to be only 18,000 units. Each unit requires 0.5 pound of cork. At the end of the current year, management expects to have 21,750 pounds of cork in inventory. Management has set a target to have cork on hand equal to one half of next month's sales requirements. Sales and production take place evenly throughout the year. Required: a. Compute the total targeted production of the finished coaster for the coming year. Print b. Compute the required amount of cork to be purchased for the coming year. a. Total targeted production in units b. Materials to be purchased in pounds units pounds 8 00 27 points Dawes Designs buys T-shirts for clubs, teams, and other organizations. Dawes takes the shirts and adds the organization's logo. Because of the uncertainty in the timing of the sales and to avoid stock outages, Dawes tries to maintain an inventory of shirts equal to two-month's of sales. The shirts cost $11.50 each and must be paid for in cash. On June 30 of the current year, the company expects to have 16,100 shirts in stock. Sales estimates, based on contracts received and historical data, are as follows for the next six months: July August September October eBook November December 7,520 10,490 7,960 8,510 5,980 4,660 Print Required: a. & b. Estimate purchases (in units) and cash required to make purchases in July, August, and September. DAWES DESIGNS Merchandise Purchases Budget For the Period Ended March 31 Units to be purchased Estimated cost (in units) July August September 27 9 Curtis Party Rentals offers party equipment such as tents, tables, chairs, and so on for outdoor events. The rental fees average $790 per event. Curtis receives a 15 percent deposit two months before the event, 60 percent the month before, and the remainder on the day the equipment is delivered and set up. Planners at Curtis estimate the following number of events for the last half of the current year: points July August 180 200 September 250 October 160 eBook November 120 December 150 Print Required: . What are the expected revenues for Curtis Party Rentals for each month, July through December? Revenues are recorded in the month of the event. b. What are the expected cash receipts for each month, July through October? Complete this question by entering your answers in the tabs below. Required A Required B What are the expected cash receipts for each month, July through October? Cash Receipts July August September October < Required A Required B > 27 9 Curtis Party Rentals offers party equipment such as tents, tables, chairs, and so on for outdoor events. The rental fees average $790 per event. Curtis receives a 15 percent deposit two months before the event, 60 percent the month before, and the remainder on the day the equipment is delivered and set up. Planners at Curtis estimate the following number of events for the last half of the current year: points July 180 August 200 September 250 October 160 November 120 eBook December 150 Print Required: a. What are the expected revenues for Curtis Party Rentals for each month, July through December? Revenues are recorded in the month of the event. b. What are the expected cash receipts for each month, July through October? Complete this question by entering your answers in the tabs below. Required A Required B What are the expected revenues for Curtis Party Rentals for each month, July through December? Revenues are recorded in the month of the event. July August September October November December Revenues < Required A Required B >