Swifty Companys budgeted sales and direct materials purchases are as follows.

		Budgeted Sales		Budgeted D.M. Purchases
January		$ 164,000		$ 24,600
February		180,400		29,520
March		205,000		31,160

Swiftys sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Swiftys purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March.

SWIFTY COMPANY Schedule of Expected Collections from Customers
		March
select an item Payment of February credit purchasesJanuary cash salesCollection of January credit salesFebruary cash salesCollection of February credit salesPayment of March credit purchasesCollection of March credit salesMarch cash salesMarch cash purchases		$ enter a dollar amount
select an item March cash salesPayment of February credit purchasesPayment of March credit purchasesJanuary cash salesFebruary cash salesCollection of March credit salesCollection of February credit salesMarch cash purchasesCollection of January credit sales		enter a dollar amount
select an item January cash salesMarch cash purchasesPayment of March credit purchasesMarch cash salesCollection of January credit salesFebruary cash salesCollection of March credit salesPayment of February credit purchasesCollection of February credit sales		enter a dollar amount
select an item Collection of January credit salesMarch cash purchasesCollection of March credit salesPayment of February credit purchasesPayment of March credit purchasesCollection of February credit salesFebruary cash salesMarch cash salesJanuary cash sales		enter a dollar amount
Total collections		$ enter a total amount

(b) Prepare a schedule of expected payments for direct materials for March.

SWIFTY COMPANY Schedule of Expected Payments for Direct Materials
		March
select an item Collection of March credit salesCollection of January credit salesPayment of February credit purchasesMarch cash salesMarch cash purchasesFebruary cash salesJanuary cash salesPayment of March credit purchasesCollection of February credit sales		$ enter a dollar amount
select an item Collection of January credit salesPayment of February credit purchasesMarch cash salesPayment of March credit purchasesCollection of February credit salesMarch cash purchasesFebruary cash salesJanuary cash salesCollection of March credit sales		enter a dollar amount
select an item Payment of February credit purchasesCollection of February credit salesPayment of March credit purchasesCollection of January credit salesFebruary cash salesCollection of March credit salesMarch cash salesMarch cash purchasesJanuary cash sales		enter a dollar amount
Total payments		$ enter a total amount

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Crane Industries had sales in 2021 of $5,616,800 and gross profit of $908,600. Management is considering two alternative budget plans to increase its gross profit in 2022. Plan A would increase the unit selling price from $8.00 to $8.40. Sales volume would decrease by 103,250 units from its 2021 level. Plan B would decrease the unit selling price by $0.50. The marketing department expects that the sales volume would increase by 107,380 units. At the end of 2021, Crane has 33,040 units of inventory on hand. If Plan A is accepted, the 2022 ending inventory should be 28,910 units. If Plan B is accepted, the ending inventory should be equal to 49,560 units. Each unit produced will cost $1.5 in direct labor, $1.3 in direct materials, and $1.2 in variable overhead. The fixed overhead for 2022 should be $1,565,270.

(a)

Prepare a sales budget for 2022 under each plan. (Round Unit selling price answers to 2 decimal places, e.g. 52.70.)

CRANE INDUSTRIES Sales Budget choose the accounting period For the Quarter Ending December 31, 2022For the Year Ending December 31, 2022December 31, 2022
		Plan A		Plan B
select a sales budget item Direct LaborDirect MaterialsExpected Unit SalesProduction UnitsTotal SalesUnit Selling Price		enter a number of units		enter a number of units
select a sales budget item Direct LaborDirect MaterialsExpected Unit SalesProduction UnitsTotal SalesUnit Selling Price		$enter a dollar amount rounded to 2 decimal places		$enter a dollar amount rounded to 2 decimal places
select a closing sales budget item Direct LaborDirect MaterialsExpected Unit SalesProduction UnitsTotal SalesUnit Selling Price		$enter a total dollar amount		$enter a total dollar amount