acc240 ch 7 hw - 58,000 46,000 Materials Purchased April...

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Ch 7 Hw Sales April May June Quarter Budgeted Sales (units) 40,000 100,000 60,000 200,000 selling Price per unit $20 $20 $20 $20 Total budgeted sales $800,000 $2,000,000 $1,200,000 $4,000,000 Cash Collections April May June Quarter Accounts receivable $120,000 $120,000 April sales 560,000 $200,000 760,000 May sales 1,400,000 500,000 1,900,000 July sales 840,000 840,000 Total cash collections $680,000 $1,600,000 $1,340,000 $3,620,000 Production April May June July Budgeted sales (units) 40,000 100,000 60,000 50,000 Add: desired end inventory 20,000 12,000 10,000 6,000 Total needs 60,000 112,000 70,000 56,000 Less: Beg inventory (8,000) (20,000) (12,000) (10,000) Units to be produced 52,000 92,000
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Unformatted text preview: 58,000 46,000 Materials Purchased April May June Quarter Units to be produced 52,000 92,000 58,000 202,000 Raw mtls needed 5 5 5 5 Production needs (Ib) 260,000 460,000 290,000 1,010,000 Add: Desired end inv 46,000 29,000 23,000 23,000 Total needs 306,000 489,000 313,000 1,033,000 Less: beg inv (26,000) (46,000) (29,000) (101,000) Required purchase (Ib) 280,000 443,000 284,000 932,000 Cost purch ($.50/Ib) $140,000 $221,500 $142,000 $466,000 Cash payments April May June Quarter Accounts payable $37,100 $37,100 April purchases 70,000 $70,000 140,000 May purchases 110,750 $110,750 221,500 June Purchases 71,000 71,000 Total cash payments $107,100 $180,750 $181,750 $469,600...
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This note was uploaded on 04/07/2008 for the course ACC 240 taught by Professor Vawter during the Spring '08 term at Glendale Community College.

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