acc240 ch 7 hw2 - 56,800 50,600 Materials Purchased April...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Ch 7 Hw Sales April May June Quarter Budgeted Sales (units) 44,000 110,000 66,000 220,000 selling Price per unit $20 $20 $20 $20 Total budgeted sales $880,000 $2,200,000 $1,320,000 $4,400,000 Cash Collections April May June Quarter Accounts receivable $120,000 $120,000 April sales 616,000 $220,000 836,000 May sales 1,540,000 550,000 2,090,000 July sales 924,000 924,000 Total cash collections $736,000 $1,760,000 $1,474,000 $3,970,000 Production April May June July Budgeted sales (units) 44,000 110,000 66,000 55,000 Add: desired end inventory 22,000 13,200 11,000 6,600 Total needs 60,000 112,000 70,000 61,600 Less: Beg inventory (8,800) (22,000) (13,200) (11,000) Units to be produced 51,200 90,000
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 56,800 50,600 Materials Purchased April May June Quarter Units to be produced 51,200 90,000 56,800 198,000 Raw mtls needed 5 5 5 5 Production needs (Ib) 256,000 450,000 284,000 990,000 Add: Desired end inv 45,000 28,400 25,300 25,300 Total needs 301,000 478,400 309,300 1,015,300 Less: beg inv (25,600) (45,000) (28,400) (99,000) Required purchase (Ib) 275,400 433,400 280,900 916,300 Cost purch ($.50/Ib) $137,700 $216,700 $140,450 $458,150 Cash payments April May June Quarter Accounts payable $37,100 $37,100 April purchases 68,850 $68,850 137,700 May purchases 108,350 $108,350 216,700 June Purchases 70,225 70,225 Total cash payments $105,950 $177,200 $178,575 $461,725...
View Full Document

This homework help was uploaded on 04/07/2008 for the course ACC 240 taught by Professor Vawter during the Spring '08 term at Glendale Community College.

Ask a homework question - tutors are online