Question
Please show full calculations for each. Thanks! 1) ABC Company's budgeted sales are as follows: July = 3,000 units; August = 2,500 units. June ending
Please show full calculations for each. Thanks!
1) ABC Company's budgeted sales are as follows: July = 3,000 units; August = 2,500 units. June ending inventory = 1,200 units. Budgeted ending inventory must equal 40% of next month's budgeted sales. Production budgeted for July would equal units = ? units
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2) ABC Company's budgeted production is as follows: January = 5,000 units; February = 8,000 units. Each unit produced requires 3 pounds of raw material. January beginning inventory = 3,000 pounds. Budgeted ending inventory must equal 20 percent of next month's production. Raw material purchases budgeted for January would equal pounds = ? lbs
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3) ABC Company collects sales as follows: 30% in the month of sale, 60% in the next month, and 8%in the second month after the sale; 2% is uncollectable. Budgeted sales are as follows: March = $22,000; April = $19,000; May = $23,000. Budgeted cash collections for May are $ ?
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4) ABC Company collects sales as follows: 30% in the month of sale, 60% in the next month, and 8%in the second month after the sale; 2% is un-collectable. Budgeted sales are as follows: March = $22,000; April = $19,000; May = $23,000. Budgeted cash collections for March sales will be anticipated as follows: March = $ ? April = $ ? May = $ ?
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5) ABC Company pays for raw material purchases as follows: 75% in the month of purchase; 25% in the subsequent month. Budgeted purchases are as follows: June = $56,000; July = $60,000. Budgeted cash payment to be made in the month of July is $ ?
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6) ABC Company pays for raw material purchases as follows: 75% in the month of purchase; 25% in the subsequent month. Budgeted purchases are as follows: June = $56,000; July = $60,000. Cash disbursement forecast for the purchases budgeted for the month of June will be anticipated as follows: June = $ ? July = $ ?
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7) ABC Company has identified the following information related to its cash budget for October: Beginning cash balance = $20,000; Cash receipts from sales = $100,000; Cash payments for purchases = $50,000; Proceeds from borrowings = $25,000; Payments for other manufacturing expenses = $40,000; Payments for operating expenses = $35,000; Dividend payment = $10,000; Ending cash balance = $ ?
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8) ABC Company requires a minimum cash balance of $15,000 at the end of each month and has identified the following information related to its cash budget for October: Beginning cash balance = $20,000; Cash receipts = $125,000; Cash disbursements = $135,000; Required short-term borrowing = $ ? Ending cash balance = $ ?
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