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Master Budget Excel Assignment; the UC Outpatient Pharmacy Company, a For Profit department off campus from the Hospital. prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparation f the master budget for the first quarter: b. Actual Sales in Dollars for December and budgeted sales for the next four months are as follows: Sales are 25% for cash and 75% on credit. All payments on credit sales are collected in the month following the sale. The accounts receivable at December 31 are a result of December credit sales. d. The company's Cost of Sales or Cost of Inventory is 55% of sales. For example, for every dollars of sales the cost of the inventory is .55 e. Monthly expenses are budgeted as follows: salaries and wages, $75,000 per month; Advertising cost, $55000 per month; shipping, 5.6% of sales; depreciation, $19,000 per month; other expenses, 3% of sales. f. At the end of each month, inventory is to be on hand equal to 20% of the following month's sales needs, stated at cost. g. 40% of a month's inventory purchases is paid for in the month of purchase; the other 60% is paid for in the following month at cost. h. During February, the company will purchase a new copy machine for $1,700cash. During March, other equipment will be purchased for cash at a cost of $60,000. Depreciation expense on assets purchased during the first six months of the year half will begin being depreciated at the second half of the year. Master Budget Excel Assignment; the UC Outpatient Pharmacy Company, a For Profit department off campus from the Hospital. prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparation f the master budget for the first quarter: b. Actual Sales in Dollars for December and budgeted sales for the next four months are as follows: Sales are 25% for cash and 75% on credit. All payments on credit sales are collected in the month following the sale. The accounts receivable at December 31 are a result of December credit sales. d. The company's Cost of Sales or Cost of Inventory is 55% of sales. For example, for every dollars of sales the cost of the inventory is .55 e. Monthly expenses are budgeted as follows: salaries and wages, $75,000 per month; Advertising cost, $55000 per month; shipping, 5.6% of sales; depreciation, $19,000 per month; other expenses, 3% of sales. f. At the end of each month, inventory is to be on hand equal to 20% of the following month's sales needs, stated at cost. g. 40% of a month's inventory purchases is paid for in the month of purchase; the other 60% is paid for in the following month at cost. h. During February, the company will purchase a new copy machine for $1,700cash. During March, other equipment will be purchased for cash at a cost of $60,000. Depreciation expense on assets purchased during the first six months of the year half will begin being depreciated at the second half of the year. 1. Schedule of expected cash collections 3. Schedule of cash disbursements for expenses
