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SALES Sales Budget Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022
| SALES | Sales Budget | ||||||||||||
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | |||
| Sales units | 4,500 | 6,500 | 9,800 | 5,250 | 7,100 | 8,000 | Unit sales | ||||||
| Selling price | $ 49.00 | $ 49.00 | $ 51.00 | $ 51.00 | $ 53.00 | $ 53.00 | Selling price per unit | ||||||
| Total sales | |||||||||||||
| ACCOUNTS RECEIVABLE | |||||||||||||
| Beginning accounts receivable balance | $ 40,000 | Schedule of Expected Cash Collections | |||||||||||
| Sales cash collection, quarter of sale | 80% | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Year | |||||||
| Sales cash collection, quarter after sale | 20% | Accounts receivable, beginning balance | |||||||||||
| First-quarter sales | |||||||||||||
| FINISHED GOODS INVENTORY | Second-quarter sales | ||||||||||||
| Beginning finished goods inventory units | 1,800 | Third-quarter sales | |||||||||||
| Desired ending inventory: % of next quarter sales units | 40% | Fourth-quarter sales | |||||||||||
| Total cash collections | |||||||||||||
| RAW MATERIALS INVENTORY | |||||||||||||
| Beginning raw materials inventory in pounds | 6,864 | Production Budget | |||||||||||
| Pounds required to produce each unit | 5.5 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Year | |||||||
| Desired eding inventory: % of next quarter production needs | 20% | Budgeted unit sales | |||||||||||
| Cost of raw material per pound | $ 2.60 | Add desired finished goods inventory | |||||||||||
| Total needs | |||||||||||||
| ACCOUNTS PAYABLE | Less beginning finished goods inventory | ||||||||||||
| Beginning accounts payable balance | $ 28,500 | Required production (units) | |||||||||||
| Raw materials cash payment, quarter of purchase | 70% | ||||||||||||
| Raw materials cash payment, quarter after purchase | 30% | Raw Materials Purchases Budget | |||||||||||
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Year | |||||||||
| Required production (units) | |||||||||||||
| Raw materials required to produce one unit | |||||||||||||
| Production needs (pounds) | |||||||||||||
| Add desired ending inventory of raw materials (pounds) | |||||||||||||
| Total needs (pounds) | |||||||||||||
| Less beginning inventory of raw materials (pounds) | |||||||||||||
| Raw materials to be purchased | |||||||||||||
| Cost of raw materials per pound | |||||||||||||
| Cost of raw materials to be purchased | |||||||||||||
| Schedule of Expected Cash Payments | |||||||||||||
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Year | |||||||||
| Accounts payable, beginning balance | |||||||||||||
| First-quarter purchases | |||||||||||||
| Second-quarter purchases | |||||||||||||
| Third-quarter purchases | |||||||||||||
| Fourth-quarter purchases | |||||||||||||
| Total cash disbursements |
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Employment, Hours, And Earnings 2010 States And Areas
Authors: Sarah E. Baltic
5th Edition
1598884190, 9781598884197
