Schedule of Cash Collections of Accounts Receivable Fur Family Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the rst three months of operations are as follows: MBY $570,000 June 800,000 July 1,490,000 All sales are on account. Of sales on account, 55% are expected to be collected in the month of the sale, 38% in the rst month following the sale, and the remainder in the second month following the sale. This information has been collected in the Microsoft Excel Online le. Open the spreadsheet, perform the required analysis, and input your answers in the question below. ) Open spreadsheet Prepare a schedule indicating cash collections from sales for May, June, and July. FUR FAMILY INC. Schedule of Collections from Sales For the Three Months Ending July 31 May June July May sales on account: Collected in May $ :] Collected in June :] Collected in Julv ( Previous Next ) This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X iiifi Open spreadsheet Prepare a schedule indicating cash collections from sales for May, June, and July. FUR FAMILY INC. Schedule of Collections from Sales For the Three Months Ending July 31 May June July May sales on account: Collected in May to Collected in June Collected in July June sales on account: Collected in June Collected in July 10 0 0 July sales on account: Collected in July Total cash collectedFile Home Insert Draw Page Layout Formulas Data Review View Help 9v av e? lAriaI v10 v B v 0w Av v 2% H |currency v $v $3 8 mv row 22v Eav 2v 9w pvl- 328 V X \\/ t A A | B | c D E F G H I J K L M N 7 June 800,000 8 July 1,490,000 9 All sales are on acoount. The percentage of sales on the account that will be collected for each month of sale is indicated 10 below. 11 12 DATA 13 Percentage of sales collected: 14 month of the sale 55% 15 1st month following the sale 38% 16 2nd month following the sale 7% 17 18 REQUIRED: 19 Prepare a schedule indicating cash collections from sales for May, June, and July. 20 Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green 21 cells show in the orange cells. Transfer amounts to CNOWv2 for grading. 22 23 FUR FAMILY INC. 24 Schedule of Collections from Sales For the Three Months Ending July 31 May June July Formulas 25 26 27 May sales on account: 28; Collected in May |_I 29 Collected in June 30 Collected in July 31 June sales on account: .. Am... ... . . 7 n File Home Insert Draw Page Layout Formulas Data Review View Help Editing Arial 10 v B LV ... Ev ab Currency V 00 .00 7.0 8 X V fx A B C D E F G H I J K L M 1st month following the sale 38% 2nd month following the sale 7% REQUIRED: Prepare a schedule indicating cash collections from sales for May, June, and July. Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWv2 for grading. FUR FAMILY INC. Schedule of Collections from Sales For the Three Months Ending July 31 May June July Formulas May sales on account: Collected in May Collected in June Collected in July June sales on account: Collected in June Collected in July July sales on account: Collected in July Total cash collectedDirect Labor Cost Budget Sea Pines Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: Junior Pro Striker Production budget 8,100 units 4,000 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.20 hours per unit 0.40 hours per unit Pro Striker 0.35 hours per unit 0.60 hours per unit The direct labor rate for each department is as follows: Forming Department $21.00 per hour Assembly Department $13.00 per hour This information has been collected in the Microsoft Excel Online le. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Prepare the direct labor cost budget for March. Round your answers for an hourly rate to two decimal places. Enter all amounts as positive numbers. SEA PINES COMPANY Direct Labor Cost Budget For the Month Endinq March 31 The direct labor rate for each department is as follows: Forming Department $21.00 per hour Assembly Department $13.00 per hour This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Prepare the direct labor cost budget for March. Round your answers for an hourly rate to two decimal places. Enter all amounts as positive numbers. SEA PINES COMPANY Direct Labor Cost Budget For the Month Ending March 31 Forming Department Assembly Department Total Hours required for production: Pro Striker C] : Hourly rate $ S $ :] Total direct labor cost $ C] $ :] $ Direct Labor Cost Budget Sea Pines Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: DATA Junior Pro Striker Production budget 8,100 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: 4,000 units DATA Forming Department Assembly Department Junior 0.20 hours per unit 0.40 hours per unit Pro Striker 0.35 hours per unit 0.60 hours per unit The direct labor rate for each department is as follows: DATA Forming Department $21.00 per hour Assembly Department $13.00 per hour REQUIRED: Prepare the direct labor cost budget for March. Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green nAIla alum\" In I-hn AFGHNA nnlls Trensfar uranium\": in f'klUilu') fru- nradinn >:\"Daia: C32 fx A B C D E F G H I J K L M N O P LL 23 Prepare the direct labor cost budget for March. 24 Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green 25 cells show in the orange cells. Transfer amounts to CNOWv2 for grading. 26 27 SEA PINES COMPANY 28 Direct Labor Cost Budget 29 For the Month Ending March 31 Forming Assembly 30 Department Department Total Formulas 31 Hours required for production: 32 Junior 33 Pro Striker 34 Total 35 Hourly rate 36 Total direct labor cost 37 38 39 40 41Flexible Budget for Assembly Department Steelcase Inc. is one of the largest manufacturers of ofce furniture in the United States. In Grand Rapids, Michigan, it produces ling cabinets in two departments: Fabrication and Assembly. Assume the following information for the Assembly Department: Direct labor per ling cabinet 30 minutes Supervisor salaries $119,000 per month Depreciation $9,500 per month Direct labor rate $12 per hour This information has been collected in the Microsoft Excel Online le. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Prepare a flexible budget for 4,000, 10,000, and 16,000 ling cabinets for the month of August, similar to Exhibit 5, assuming that inventories are not significant. Enter all amounts as positive numbers. STEELCASE INC. Assembly Department Budget Month Ending August 31 (Assumed Data) Units of production 4,000 10,000 16,000 Variable costs: : 0: 35[:] 34: Next) 1 Direct labor rate $12 per hour This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Prepare a flexible budget for 4,000, 10,000, and 16,000 ling cabinets for the month of August, similar to Exhibit 5, assuming that inventories are not significant. Enter all amounts as positive numbers. STEELCASE INC. Assembly Department Budget Month Ending August 31 (Assumed Data) Units of production 4,000 10,000 16,000 Variable costs: : 34:] $[:] 34:] Fixed costs: : 4:] $:] $[:] 4:] 94:1 4:] Total department costs $ [2 $ C] $ [j A B C D E G H K Flexible Budget for Assembly Department Steelcase Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it produces filing cabinets in two departments: Fabrication and Assembly. Assume the following information for the Assembly Department: DATA Direct labor per filing cabinet 30 minutes Supervisor salaries $119,000 per month Depreciation $9,500 per month Direct labor rate $12 per hour REQUIRED: Prepare a flexible budget for each number of filing cabinets for the month of August shown below assuming that inventories are not significant. Using formulas and cell references from the problem data, perform the required analysis. Enter all amounts as positive values. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWv2 for grading. STEELCASE INC. Assembly Department Budget Month Ending August 31 (Assumed Data) Formulas Units of production 4,000 10,000 16,000 Variable cost: Fixed cost: > E Data + tablishing secure connection. GiveA B C D E F G H I J K Using formulas and cell references from the problem data, perform the required analysis. Enter all amounts as positive values. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWv2 for grading. STEELCASE INC. Assembly Department Budget Month Ending August 31 (Assumed Data) Formulas Units of production 4,000 10,000 16,000 Variable cost: Fixed cost: Total fixed costs Total department costs