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Cash Disbursements Assignment | Top Universities

Chapter 8: Applying Excel Year 2 Quarter 2 Year 3 Quarter Data 1 1 2 100,000 50,000 80,000 Budgeted unit sales 40,000 60,000 70,000 Selling price per unit Accounts receivable, beginning balance Sales collected in the quarter sales are made Sales collected in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning Raw materials required to produce one unit Desired ending inventory of raw materials is Raw materials inventory, beginning Raw material costs Raw materials purchases are paid $8 per unit $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12.000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 and Accounts payable for raw materials, beginning balance Enter a formula into each of the cells marked with a ? below Review Problem: Budget Schedules Construct the sales budget Year 2 Quarter Year 3 Quarter 1 2 3 4 1 2 Budgeted unit sales Selling price per unit Total sales? 7 ? ? 2 2 2 Year 2 Quarter Construct the schedule of expected cash collections 2 4 Year 1 Account receivable, beginning balance First-quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections ? ? ? ? ? ? ? 2 2 2. Year 3 Quarter Year 2 Quarter Construct the production budget 1 Year 4 2 1 ? Budgeted unit sales Add desired fin ished goods inventory ? ? ? 2 2 Total needs ? ? Less beginning inventory Required production ? ? ? Year 3 Quarter 1 Year 2 Quarter Construct the raw materials purchases budget Year 4 3 1 ? ? ? ? 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 ? ? ? ? 2 ? ? 2 2 2 ? ? ? ? 2 2 2 Year 2 Quarter Construct the schedule of expected cash payments Year 4 2 1 ?

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Accounts payable, beginning balance First-quarter purchases Second-quarter purchases Third-quarter purchases Fourth-quarter purchases Total cash disbursements ? ? ? 7 ? 2 ? ? ? Requirement 2: The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Year 2 Quarter Year 3 Quarter 1 2 3 4 1 2 Data Budgeted unit sales Selling price per unit 45,000 70,000 120,000 65,000 85,000 90,000 $7 A C F G 1 Chapter 8: Applying Excel Data Year 3 Quarter 1 2 3 4 2 4 5 Budgeted unit sales 45,000 70,000 120,000 65,000 85,000 90,000 6 Selling price per unit 8Accounts receivable, beginning balance 7 per unit 7 $ 65,000 9 Sales collected in the quarter sales are made 10 Sales collected in the quarter after sales are made 75% 25% 11 Desired ending finished goods inventory is 30% of the budgeted unit sales of the next quarter 12 Finished goods inventory, beginning 13 Raw materials required to produce one unit 14 Desired ending inventory of raw materials is 12,000 units 5 pounds 10% of the next quarter's production needs 15 Raw materials inventory, beginning 16 Raw material costs 17 Raw materials purchases are paid 23,000 pounds 0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase and 18 a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year b. What is the total required production for the year under this revised budget? Total required production for the year c. What is the total cost of raw materials to be purchased for the year under this revised budget? Total cost of raw materials to be purchased for the year d. What is the total expected cash disbursements for raw materials for the year under this revised budget? Total expected cash disbursements for raw materials for the year. Get Accounting Homework Help Today

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