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Weller Company's budgeted unit sales for the upcoming fiscal year are provided below. Budgeted unit wales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 19,000

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Weller Company's budgeted unit sales for the upcoming fiscal year are provided below. Budgeted unit wales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 19,000 24,000 18,000 17,000 The company's variable selling and administrative expense per unit is $180. Fixed selling and administrative expenses include advertising expenses of $12,000 per quarter, executive salaries of $38,000 per quarter, and depreciation of $18,000 per quarter. In addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property taxes of $6,200 will be paid in the second quarter. Required: Prepare the company's selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2 decimal places.) Year Weller Company Selling and Administrative Expense Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales Variable selling and administrative expense per unit Variable selling and administrative expense Fixed seling and administrative expenses: Total fixed selling and administrative expenses Total selling and administrative expenses Cash disbursements for selling and administrative expenses Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Int Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 340,000 $ 460,000 $ 390,000 $ 410,000 Total cash disbursements $ 386,000 $ 356,000 $ 346,000 $366,000 The company's beginning cash balance for the upcoming fiscal year will be $24,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year (Cash deficiency, repayments and interest should be indicated by minus sign.) Year Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit salas Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year 840 $ 2,140 $ 1,700 $ 85 $ 225,000 $ 30,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement below: Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity 11,400 75,000 41,000 224,000 $ 351, 400 $ 70,000 15,500 180,000 85.900 $ 351,400 The company is in the process of preparing a budget for May and has assembled the following data: a. Sales are budgeted at $220,000 for May. Of these sales, $66,000 will be for cash; the remainder will be credit sales. One-half of a month's credit sales are collected in the month the sales are made, and the remainder is collected in the following month. All of the April 30 accounts receivable will be collected in May. b. Purchases of inventory are expected to total $128,000 during May. These purchases will all be on account. Forty percent of all purchases are paid for in the month of purchase; the remainder are paid in the following month. All of the April 30 accounts payable to suppliers will be paid during May c. The May 31 inventory balance is budgeted at $56,000. d. Selling and administrative expenses for May are budgeted at $86,000, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $6,750 for the month e. The note payable on the April 30 balance sheet will be paid during May, with $565 in interest (All of the interest relates to May.) f. New refrigerating equipment costing $6,700 will be purchased for cash during May 9. During May, the company will borrow $25,300 from its bank by giving a new note payable to the bank for that amount. The new note will be due in one year *** c. The May 31 inventory balance is budgeted at $56,000. d. Selling and administrative expenses for May are budgeted at $86,000, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $6,750 for the month. e. The note payable on the April 30 balance sheet will be paid during May, with $565 in interest. (All of the interest relates to May.) 1. New refrigerating equipment costing $6,700 will be purchased for cash during May, 9. During May, the company will borrow $25,300 from its bank by giving a new note payable to the bank for that amount. The new note will be due in one year. Required: 1. Calculate the expected cash collections from customers for May, 2. Calculate the expected cash disbursements for merchandise purchases for May. 3. Prepare a cash budget for May 4. Prepare a budgeted income statement for May 5. Prepare a budgeted balance sheet as of May 31. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Reg 5 1. Calculate the expected cash collections from customers for May. 2. Calculate the expected cash disbursements for merchandise purchases for May Total cash collections Total cash disbursements Reqa >

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