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Number 3 please ! Thank you! Please give great details so I may learn thank you! 1. Scholar Suppliers manufactures backpacks for students. The backpacks
Number 3 please ! Thank you! Please give great details so I may learn thank you!
1. Scholar Suppliers manufactures backpacks for students. The backpacks come in two sizes: Small, and Large. Scholar Suppliers anticipates the following sales volumes and prices for the coming period: Size Small 3,000 backpacks Large 6,000 backpacks Sales Volume Selling Price $25 each $75 each What is the budgeted level of revenue for the coming period? 2. Haul'n'Tow manufactures trailer hitches for personal vehicles. The company has production levels budgeted for this period of 2,000 hitches. Each hitch requires 15 feet of steel to manufacture. The company has a policy of always having 500 feet of steel on hand at the end of the period in case of excess demand. Last period orders were higher than expected, so the company ended the period with only 350 feet of steel on hand. Steel costs $5/foot, and Haul'n'Tow has an agreement to pay their supplier 75% of the cost of purchases in the month bought, and the remainder in the month following The Accounts Payable balance at the beginning of the period is $30,000. What is the budgeted amount of cash to be paid for raw materials this month? 3. Fine Furniture Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information: Product Information Chairs Bookshelves Revenue Expected June credit sales in units Expected July credit sales in units Selling Price per unit 2,000 10,000 2,500 12,000 $250 3,000 5,000 $50 $40 what is budgeted sales for June? What is the budgeted sales for July? If 30% of credit sales are collected in the month of the sale and the remaining 70% is collected in the month following the sale, what is the expected cash to be collected in July Step by Step Solution
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