Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Corporation will begin business operations on January 1, 2021. Below is the anticipated SALES BUDGET (in units): 1. To complete the unit sales forecast,

image text in transcribed

The Corporation will begin business operations on January 1, 2021. Below is the anticipated SALES BUDGET (in units): 1. To complete the unit sales forecast, use the third, fourth, fifth and sixth digits of your student identification number to fill in the blanks. If any of these digits contains a "0 use " 3 " instead. Example: If student ID number is 00607357. The sales forecast would be: ADDITIONAL INFORMATION a. Ending finished goods inventory should be equal to 10% of next month's sales projection. b. Each unit requires 3 pounds of material at a raw material cost of $5 per pound. c: Labor cost is $10 per unit produced. d. Ending raw material inventory should be equal to 20% of next month's material requirement. e. Factory overhead is $18,000 per month of which $8,000 is for depreciation. f. All costs are paid in the month incurred except for purchases which is paid in the following month g. The selling price per unit is $100. REQUIRED: Using Excel, in good form: Prepare a SALES BUDGET for the first quarter (January through March). Prepare a PRODUCTION BUDGET for the first quarter (January through March). Prepare a Raw Materials PURCHASES BUDGET for the first quarter (Jan. through Mar.) Prepare a CASH DISBURSEMENTS budget for the first quarter (January through March)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Money Banking And Financial Markets

Authors: Stephen Cecchetti, Kermit Schoenholtz

6th Edition

1260226786, 9781260226782

More Books

Students also viewed these Finance questions

Question

Which charge(s) for the N2 molecule would give a bond order of 2.5?

Answered: 1 week ago