Please see attached assignment. It is in a word document below

Question 1 Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: Budgeted sales (all on account) April $390,000 May $590,000 June $230,000 Total $1,210,000 From past experience, the company has learned that 25% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $320,000, and March sales totaled $350,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. Assume that the company will prepare a budgeted balance sheet as of June 30. Compute the accounts receivable as of that date. Question 2: Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix, one of the company's products. The company is now planning raw materials needs for the third quarter, the quarter in which peak sales of Supermix occur. To keep production and sales moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 2,000 units of Supermix plus 25% of the next month's sales. The finished goods inventory on June 30 is budgeted to be 20,250 units. b. The raw materials inventory on hand at the end of each month must be equal to one-half of the following month's production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 92,000 cc of solvent H300. c. The company maintains no work in process inventories. A sales budget for Supermix for the last six months of the year follows. July Budgeted Sales in Units 73,000 August September October November December 78,000 88,000 68,000 58,000 48,000 Required: 1. Prepare a production budget for Supermix for the months July, August, September, and October. 3. Prepare a direct materials budget showing the quantity of solvent H300 to be purchased for July, August, and September, and for the quarter in total. Question 3: You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $43,200. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account c. d. e. f. October November December $ 76,200 $ 70,800 $ 84,400 520,000 527,000 649,000 Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% collected in the month following sale, and 18% collected in the second month following sale. The remaining 2% is uncollectible. Purchases of inventory will total $370,000 for December. Thirty percent of a month's inventory purchases are paid during the month of purchase. The accounts payable remaining from November's inventory purchases total $193,000, all of which will be paid in December. Selling and administrative expenses are budgeted at $433,000 for December. Of this amount, $99,800 is for depreciation. A new web server for the Marketing Department costing $78,500 will be purchased for cash during December, and dividends totaling $18,500 will be paid during the month. The company maintains a minimum cash balance of $20,000. An open line of credit is available from the company's bank to bolster the cash position as needed. Required: 1. Prepare a schedule of expected cash collections for December. 2. Prepare a schedule of expected cash disbursements for merchandise purchases for December. Prepare a cash budget for December. Indicate in the financing section any borrowing that will be needed during the month. Assume that any interest will not be paid until the following month. Question 4: Selected sales and operating data for three divisions of different structural engineering firms are given as follows: Sales Average operating assets Net operating income Minimum required rate of return Division A $ 6,800,000 $ 1,360,000 $ 401,200 23.00% Division B $10,800,000 $ 2,700,000 $ 1,069,200 39.60% Division C $ 9,900,000 $ 1,980,000 $ 311,850 20.00% Required: 1. Compute the return on investment (ROI) for each division using the formula stated in terms of margin and turnover. (Round your answers to 2 decimal places.) 2. Compute the residual income (loss) for each division. (Loss amounts should be indicated by a minus sign. Round your "Required rate of return" to 2 decimal places.) 3. Assume that each division is presented with an investment opportunity that would yield a 25% rate of return. a. If performance is being measured by ROI, which division or divisions will probably accept or reject the opportunity? b. If performance is being measured by residual income, which division or divisions will probably accept or reject the opportunity? Question 5 DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations. Month 1 ? ? ? Throughput time (days) Delivery cycle time (days) Manufacturing cycle efficiency (MCE) Percentage of on-time deliveries Total sales (units) 2 ? ? ? 75% 10,600 3 ? ? ? 76% 10,430 81% 10,440 4 ? ? ? 88% 10,490 Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months: Move time per unit Process time per unit Wait time per order before start of production Queue time per unit Inspection time per unit Average per Month (in days) 1 2 3 4 0.7 0.6 0.5 0.3 0.3 0.8 0.4 0.7 10.0 3.7 0.4 8.0 3.9 0.6 5.0 2.9 0.4 4.0 1.5 0.4 Required: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle efficiency (MCE) for each month. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be considered as 12.3%.)) 1-c. Compute the delivery cycle time for each month. (Round your answers to 1 decimal place.) 3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE. (Round your answers to 1 decimal place.) 3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE. (Round your answers to 1 decimal place.) Question 6: Division A manufactures electronic circuit boards. The boards can be sold either to Division B of the same company or to outside customers. Last year, the following activity occurred in Division A: Selling price per circuit board Variable cost per circuit board Number of circuit boards: Produced during the year Sold to outside customers Sold to Division B $191 $130 21,000 14,600 6,400 Sales to Division B were at the same price as sales to outside customers. The circuit boards purchased by Division B were used in an electronic instrument manufactured by that division (one board per instrument). Division B incurred $300 in additional variable cost per instrument and then sold the instruments for $600 each. Required: 1. Prepare income statements for Division A, Division B, and the company as a whole. 2. Assume that Division A's manufacturing capacity is 21,000 circuit boards. Next year, Division B wants to purchase 7,400 circuit boards from Division A rather than 6,400. (Circuit boards of this type are not available from outside sources.) What should Division A do from the standpoint of the company as a whole? Sell the 1,000 additional circuit boards to Division B. Continue to sell the circuit boards to outside customers