Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Old MathJax webview This for a T-shirt company the Financials should be nominal. All the figures and number should be nominal. To prepare sales budget,

Old MathJax webview

image text in transcribed

This for a T-shirt company the Financials should be nominal. All the figures and number should be nominal. To prepare sales budget, production budget, direct material budget for the upcoming 5 years. Put the numbers nominal for youth shirts, adult shirts, adult oversize shirts, etc

The information you have to put for a t-shirt company which has a new business and the numbers should be nominal like kids shirt 15. adult shirt 16 and adult oversize shirt 17 for example

Note: The financial information should be taking nominal numbers, I dont have the financial information just to put some nominal numbers.

1. Prepare a sales budget including a column for each year and a column for the total. The budgets should also include a schedule of expected cash collection, by year and in total. Make your assumptions about the type of sales (cash versus credit) and your credit terms clear. 2. Make reasonable assumptions about the safety stock and prepare the production budgets for each of the upcoming five years. You may need to estimate unit sales for the 6th year for this budget. 3. Prepare the direct material budgets for the upcoming five years. The budgets should also include a schedule of expected cash disbursements for purchase of materials, by year and in total. Make your assumptions about the safety stock of materials and the timing of payments clear. 4. Prepare a direct labor budget for each of the upcoming five years. 5. Prepare a manufacturing overhead budget for each of the upcoming five years. 6. Prepare a selling and administrative expense budget for each of the upcoming five years. 7. Prepare a cash budget for each of the upcoming five years. This budget should include the cash receipts section, the cash disbursement section, the cash excess or deficiency section, and the financing section. Make your assumptions about the financing policy clear. 8. Prepare a budgeted income statement for each of the upcoming five years that reflects the budgets you prepared earlier. 9. Prepare a budgeted balance sheet for each of the upcoming five years that reflects the budgets you prepared earlier. 1. Prepare a sales budget including a column for each year and a column for the total. The budgets should also include a schedule of expected cash collection, by year and in total. Make your assumptions about the type of sales (cash versus credit) and your credit terms clear. 2. Make reasonable assumptions about the safety stock and prepare the production budgets for each of the upcoming five years. You may need to estimate unit sales for the 6th year for this budget. 3. Prepare the direct material budgets for the upcoming five years. The budgets should also include a schedule of expected cash disbursements for purchase of materials, by year and in total. Make your assumptions about the safety stock of materials and the timing of payments clear. 4. Prepare a direct labor budget for each of the upcoming five years. 5. Prepare a manufacturing overhead budget for each of the upcoming five years. 6. Prepare a selling and administrative expense budget for each of the upcoming five years. 7. Prepare a cash budget for each of the upcoming five years. This budget should include the cash receipts section, the cash disbursement section, the cash excess or deficiency section, and the financing section. Make your assumptions about the financing policy clear. 8. Prepare a budgeted income statement for each of the upcoming five years that reflects the budgets you prepared earlier. 9. Prepare a budgeted balance sheet for each of the upcoming five years that reflects the budgets you prepared earlier

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Operations Management

Authors: David Loader

2nd Edition

0470026545, 978-0470026540

More Books

Students also viewed these Accounting questions

Question

Determine miller indices of plane X z 2/3 90% a/3

Answered: 1 week ago

Question

=+What action steps will you take to handle this situation?

Answered: 1 week ago