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1 Enter titles and accounts in the green cells 2 Enter Numbers in the blue cells 3 Enter your Calculations in the yellow cells Dallas Company manufactures table cloths. The company is in the process of developing next quarter's budgets and has gathered the following information for the budget preparation: a. The Marketing Department has estimated sales as follows for the remainder of the year (in units): 8 9 10 July August September 25,000 40,000 39,000 October November December 20,000 25,000 37,500 12 a. The selling price. 13 b. All sales are on account. Based on past experience, sales 14 are collected in the following pattern: 25% in the month of sale 70% in the month following sale uncollectibl Problem 1 Problem 2 25% 70% en in the month of sale in the month following sale uncollectibl 5% 1 c. Sales for June totaled $525,000. d. The company desires to keep a finished goods inventory equal to 20% of the following month's sales. The June ending inventory will meet this requirement. 4 5 e. Each table cloth requires 6 feet of a special linen, can be hard to source at times. The company requires that the 6 ending inventory of linen be equal to 60% of the following mivemory U11 95,000 8 19 30 Jun 30-Sep feet feet 1 f. The linen costs $1.00 per foot. 2 1. Calculate the budgeted sales, by month and in total, for th quarter. July August September Quarter Budgeted units 25,000 34 sales 40,000 39,000 104,000 Problem 1 Problem 2 Santa F. The linen costs $1.00 per foot. 1. Calculate the budgeted sales, by month and in total, for th quarter. August September Quarter Budgeted units 25,000 40,000 39,000 104,000 sales Selling price per July unit Budgeted sales 2. Calculate the net expected cash balances, by month and in total, for the quarter. The expected cash collections from sales for the third quarter: August September Quarter June Sales July sales: August sales: September colae Total cash collections Problem 1 Problem 2 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October. The production budget (quantity of beach umbrellas) for July-October: July August September October Budgeted unit sales Add desired units of ending finished goods inventory Total needs Less units of beginning finished goods inventory Required production in units 4. Calculate the quantity of material (in feet) that needs to be purchased by month and in total. Also calculate the raw material purchases for each month. September October The direct materials budget for the third quarter: July August Required production in units of finished 1 goods Units of raw materials needed per unit of finished 72 goods Problem 1 Problem 2 Ready R78 - X fx September October -9 The direct materials budget for the third quarter: July August Required production in units of finished 71 goods Units of raw materials needed per unit of finished 72 goods Units of raw materials needed to 73 meet production Add desired units of ending raw materials inventory 74 Total units of raw 75 materials needed tess units of beginning raw 76 materials inventory Units of raw materials to be purchased Unit cost of raw materials Cost of raw materials to be 79 purchased 80 Problem 1 Problem 2