Please help me solve requirements 1-5
Requirements More info Data table Prepare the following budgets for the first three months of the year, as well In any given month, 15% of the total sales are cash sales, while the as a summary budget for the quarter: remainder are credit sales. 1. Prepare the sales budget, including a separate section that details the type of sales made (cash versus credit.) The company's collection history indicates that 70% of credit sales is 2. Prepare the production budget. collected in the month after the sale, 20% is collected two months 3. Prepare the direct materials purchases budget. Assume the after the sale, 6% is collected three months after the sale, and the company needs 150,000 board feet of wood for production in April. 4. Prepare the cash collections budget for January, February, and March, as well as a summary for the first quarter. Assume that the total cost of direct materials purchases in December 5. Prepare the cash payments budget for direct materials purchases for was $540,000. The company pays 60% of its direct materials the months of January, February, and March, as well as a summary purchases in the month of purchase, and pays the remaining 40% in for the first quarter. the month after purchase. Home Sweet Home makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores The company would also like to maintain an ending stock of finished birdfeeders equal to 10% of the for $16 per birdeeder. Each birdfeeder requires 3.0 board feet of wood, which the company obtains at a cost of $5 next month's sales. Sales data for the company is as follows: per board foot. The company would like to maintain an ending stock of wood equal to 20% of the next month's (Click the icon to vlew the sales data.) production requirements. (Click the icon to view additional data.) Read the Requirements More info Data table Prepare the following budgets for the first three months of the year, as well In any given month, 15% of the total sales are cash sales, while the as a summary budget for the quarter: remainder are credit sales. 1. Prepare the sales budget, including a separate section that details the type of sales made (cash versus credit.) The company's collection history indicates that 70% of credit sales is 2. Prepare the production budget. collected in the month after the sale, 20% is collected two months 3. Prepare the direct materials purchases budget. Assume the after the sale, 6% is collected three months after the sale, and the company needs 150,000 board feet of wood for production in April. 4. Prepare the cash collections budget for January, February, and March, as well as a summary for the first quarter. Assume that the total cost of direct materials purchases in December 5. Prepare the cash payments budget for direct materials purchases for was $540,000. The company pays 60% of its direct materials the months of January, February, and March, as well as a summary purchases in the month of purchase, and pays the remaining 40% in for the first quarter. the month after purchase. Home Sweet Home makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores The company would also like to maintain an ending stock of finished birdfeeders equal to 10% of the for $16 per birdeeder. Each birdfeeder requires 3.0 board feet of wood, which the company obtains at a cost of $5 next month's sales. Sales data for the company is as follows: per board foot. The company would like to maintain an ending stock of wood equal to 20% of the next month's (Click the icon to vlew the sales data.) production requirements. (Click the icon to view additional data.) Read the
