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please i need answer 5-B and 6 in excel with all steps please and no handwriting 2. Sung Corporation has prepared the following sales budget:
please i need answer 5-B and 6 in excel with all steps please and no handwriting
2. Sung Corporation has prepared the following sales budget: 1-Collections are 40% in the month of sale, 45% in the month following the sale and 10% two months after the sale. The remaining 5% is expected to be uncollectible. 2-The average selling price of the company's products is $100 per unit. 3-The average purchase cost of each unit is $70. Target ending inventories are 25% of the next month's sales. 10% purchases are paid in full in the month of purchase and get a 2% cash discount. The remaining 90% are paid in full in the following month. 4-Total selling, general and administrative costs amount to $4,000 per month, of which $650 is depreciation. 5-(A-Cash in the bank on August 1 is $10,000. ) (B-Inventory on hand on May 1 is 1,500 units.) 6-Prepare the cash budget for Sung Corporation for August. memo: purchases in units Step by Step Solution
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