Please make sure you answer in the right Format Answers need to be in Format other wise It's incorrect and I will Thumps Down automatically.
Make sure you answer both parts of the questions please
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X All answers must be entered as a formula. Click OK to begin. OK 1. Use the Budget Data tab to complete the Schedules and Cash Budget tab. Formulas must be entered so that all cash flow amounts are positive numbers. XDA Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X EE- Calibri 11 AR A % Paste B IU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 : x S&P Enterprises needs a cash budget for March. The following information is B D E 3 Data 1 S&P Enterprises needs a cash budget for March. The following information is available. 2 January February March 4 Actual January and February and expected March sales: 5 Cash sales $ 1,600 $ 3,750 $ 5,100 6 Sales on account 25,000 30,000 40,000 7 Total Sales $ 26,600 $ 33.750 $ 45.100 8 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 15 Accounts payable for inventory purchases, March 1 balance $10,500 16 Budgeted inventory purchases in March $23.500 17 Inventory payments: 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12,500 22 Budgeted selling & administrative depreciation in March $3,200 23 24 Other hudgeted cash dichureements in March Budget Data Schedules and Cash Budget + READY 100% Attempt(s) Hint 1. Use the Budget Data tab to complete the Schedules and Cash Budget tab. Formulas must be entered so that all cash flow amounts are positive numbers. XDA Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X EE- Calibri 11 AR A % Paste B IU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 : x fx S&P Enterprises needs a cash budget for March. The following information is B D E 21 Total budgeted selling & administrative expenses in March $12,500 22 Budgeted selling & administrative depreciation in March $3,200 23 24 Other budgeted cash disbursements in March 25 Equipment purchases $14,000 26 Dividends to be paid $2,000 27 28 Minimum cash balance to be maintained $10,000 29 March 1 cash balance $11,500 30 March 1 outstanding borrowings $0 31 March 1 interest due $0 32 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 36 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 39 2. Schedule of expected cash disbursements for inventory purchases for March. 40 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that 41 any interest will not be paid until the following month. 42 43 44 45 Budget Data Schedules and Cash Budget + READY 1 100% Attempt(s) Hint 1. Use the Budget Data tab to complete the Schedules and Cash Budget tab. Formulas must be entered so that all cash flow amounts are positive numbers. XDA Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X EE- Calibri 11 AR A % Paste B IU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font C18 x fx B D E A 1 Expected cash collections: 2 March cash collections 3 March collections on account: 4 January sales 5 February sales 6 March sales 7 Total cash collections 8 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 14 S&P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative exnenses Budget Data Schedules and Cash Budget READY e 100% Attempt(s) 3/3 Hint 1. Use the Budget Data tab to complete the Schedules and Cash Budget tab. Formulas must be entered so that all cash flow amounts are positive numbers. XDA Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X EE- Calibri 11 -A A % Paste B IU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font C18 X fx B D E A 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Cash balance before financing 29 Financing: 30 Borrowings/Repayments 31 Cash balance, March 31 32 33 34 35 36 37 38 Budget Data Schedules and Cash Budget READY e 100% Attempt(s) 3/3 Hint 1. Compute the direct material, direct labor and variable overhead variances. x Basic variance analysis for direct materials, direct labor and variable overhead - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In EE- Calibri 11 AR A % Paste B IU- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 : X fx The standard cost card for a single unit of Robinson, Inc.'s products is shown B D E F Standard Unit Cost $20.00 9.00 5.00 1 The standard cost card for a single unit of Robinson, Inc.'s products is shown below. 2 Standard Standard 3 Quantity Price/Rate 4 Direct materials: 2.5 yards @ $8.00 per yard 5 Direct labor: 0.5 hours @ $18.00 per hour 6 Variable overhead (based on labor hours): 0.5 hours @ $10.00 per hour 7 8 Budgeted production for the month 14,000 units 9 Actual production for the month 13,500 units 10 11 Actual Costs Incurred to Produce 13,500 units: 12 Direct Materials Purchased and Used 35,100 yards @ $7.00 per yard 13 Direct Labor Paid 7,425 hours @ $17.50 per hour 14 Variable Overhead Incurred 7,425 hours @ $12.00 per hour 15 Total Actual Cost $245,700 $129,938 $89,100 Complete the following table comparing actual costs to the flexible budget and master budget. Use formulas for 16 the spending and volume variances so that variance will appear as a negative number if unfavorable and a positive number if favorable. 17 Spending Flexible Volume Master 18 Variances Actual Costs Budget Variances Budget 19 Direct materials: $245,700 20 Direct labor: $129,938 Sheet1 e + 100% READY Attempt(s) Hint 1. Compute the direct material, direct labor and variable overhead variances. x Basic variance analysis for direct materials, direct labor and variable overhead - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In 9 - Calibri 11 -A A % Paste B I U - Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 : X The standard cost card for a single unit of Robinson, Inc.'s products is shown F Master Budget A B D E Spending Flexible Volume 18 Actual Costs Variances Budget Variances 19 Direct materials: $245,700 20 Direct labor: $129,938 21 Variable overhead: $89,100 22 23 24 Using the formulas provided, compute the following variances. 25 Write if statements to enter an For U to indicate whether the variance is favorable or unfavorable. 26 27 Direct materials: Variance For U 28 Price Variance = AQ * (SP - AP) 29 Quantity Variance = SP * (SQ - AQ) 30 Total Spending Variance 31 Direct Labor 32 Rate Variance = AH * (SR - AR) 33 Efficiency Variance = SR * (SH - AH) 34 Total Spending Variance 35 Variable Overhead 36 Rate Variance = AH * (SR - AR) 37 Efficiency Variance = SR* (SH - AH) 38 Total Spending Variance 39 40 Sheet1 READY 1 100% Attempt(s) Hint
