Question
Requirement A Complete the Master Budget (ALL parts plus schedules) in Excel. The budget information is provided in a separate document. To complete your
Requirement A Complete the Master Budget (ALL parts plus schedules) in Excel. The budget information is provided in a separate document. To complete your Comprehensive Project 2 assignment, use the master budget example template. You may use the template provided in this workbook or the workbook used for the example completed in class. Using the example enables you to setup the budget in excel ensuring that you have formulas set up correctly and correctly calculated values. Your Comprehensive Project 2 Assignment will look exactly like the Royal Co. example with the exception of the budget specific standard numbers. You will simply need to change the appropriate numbers. These budget specific standard numbers and any other budget requirements will be provided in a separate document. There are some parts of the budget that will require you to make some decisions and/or understand how it relates to other/prior parts. The Cash Budget will require you to determine whether the company will need to borrow money in order to meet cash requirements. If you borrow money, you may need to pay some or all back with interest and you will have to calculate that interest. You will need to understand where how to calculate or where to get the numbers for the income statement and balance sheet. Read/Review all the information provided as well as chapter 22. This is not an assignment that can be successfully completed in a couple of hours the night it is due. Requirement B 1. What are the budgeted sales for February? 2. What are the expected cash collections for February? 3. What is the accounts receivable balance at the end of March? 4. What is the estimated cost of raw materials purchases for February? 5. What is the estimated accounts payable balance at the end of March? 6. What is the estimated finished goods inventory balance at the end of March? 7 What is the estimated cost of goods sold and gross margin for March? 8. What is the estimated total selling and administrative expense for February? 9. What is the estimated net operating income for March? 10. What is the estimated retained earnings balance for March? Part II (Chapter 25) Requirement C This question is assignment version specific. Please refer to the assignment document for further details. Requirement D This question is assignment version specific. Please refer to the assignment document for further details.
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