{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

ACIS 2116 Chapter 10 Master Budget Example

ACIS 2116 Chapter 10 Master Budget Example - Budgeted sales...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Sales Budget January February March April May Quarter Budgeted sales in units 30,000 60,000 40,000 35,000 25,000 130,000 Selling price per unit $20 $20 $20 $20 $20 $20 Total budgeted sales $600,000 $1,200,000 $800,000 $700,000 $500,000 $2,600,000 Cash Receipts Budget January February March Quarter Accounts Receivable 12/31 $40,000 $40,000 January Sales 75% x $600,000 $450,000 $450,000 20% x $600,000 $120,000 $120,000 February Sales 75% x $1,200,000 $900,000 $900,000 20% x $1,200,000 $240,000 $240,000 March Sales 75% x $800,000 $- $- $600,000 $600,000 Total Cash Collections $490,000 $1,020,000 $840,000 $2,350,000 Production Budget January February March April Quarter Budgeted Sales 30,000 60,000 40,000 35,000 130,000 Add: Desired ending inventory 6,000 4,000 3,500 2,500 3,500 Total Needs 36,000 64,000 43,500 37,500 133,500 Less: Beginning inventory 5,000 6,000 4,000 3,500 5,000 Required Production 31,000 58,000 39,500 34,000 128,500 Material Purchases Budget January February March Quarter Production 31,000 58,000 39,500 128,500 Materials per unit (yards) 2 2 2 2 Production needs 62,000 116,000 79,000 257,000 Add: Desired ending inventory 11,600 7,900 6,800 6,800 Total Needs 73,600 123,900 85,800 263,800 Less: Beginning inventory 7,000 11,600 7,900 7,000 Materials to be purchased 66,600 112,300 77,900 256,800 Cost per yard $0.50 $0.50 $0.50 $0.50 Cost of materials to be purchased $33,300 $56,150 $38,950 $128,400 Expected Cash Disbursements for Materials January February March Quarter Accounts payable, 12/31 $15,000 $15,000
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern