Homework Week 3.docx - 1 HOMEWORK Homework Week 3 Vanna Ellis ACC515 Professor Benson 2 HOMEWORK Chapter 8 Page 372 E8-1 February Schedule of Expected

Homework Week 3.docx - 1 HOMEWORK Homework Week 3 Vanna...

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1 HOMEWORK Homework Week 3 Vanna Ellis ACC515 Professor Benson January 26, 2019
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2 HOMEWORK Chapter 8 Page 372 E8-1 Schedule of Expected Cash Collections February March April May June Total Budgeted Sales $300,000 $500,000 $200,000 Actual Sales $230,00 0 $260,000 Sales Total $230,00 0 $260,000 $300,000 $500,000 $200,000 $1,490,000 February March April May June Total 20% collected in month of sale $46,000 $52,000 $60,000 $100,000 $40,000 $200,000 70% collected in month of sale $161,000 $182,000 $210,00 0 $350,000 $140,00 0 $700,000 10% collected in 2 nd month of sale $30,000 $50,000 $20,000 $100,000 Total $207,000 $234,000 $300,00 0 $500,000 $200,00 0 $1,00,00 0 2. Accounts receivable – June 30 th % uncollected A/R From May Sales $500,000 10% $50,000 From June Sales $200,000 80% $160,000 Total A/R $210,000 Chapter 8 Page 373 E8-2 Production Budget
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3 HOMEWORK Sales in Units April $50,000 May $75,000 June $90,000 July $80,000 April May June Quarter July Budgeted Sales $50,00 0 $75,000 $90,000 $215,00 0 $80,00 0 Desire EI $7,500 $11,250 $13,500 $32,250 Total Units desired $57,50 0 $86,250 $103,50 0 $247,25 0 Less BI $5,000 $5,000 $5,000 $5,000 Production $52,50 0 $81,250 $98,000 $242,25 0 $12,000 Chapter 9 Page 412 E9-1 Flexible Budget Flexible budget budget with the driving hours being 105.
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