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Project A-Tamika Jackson - PROJECT A Case 9-30 Student Name...

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PROJECT A - Case 9-30 Student Name: Tamika Jackson SALES BUDGET: April May June Budgeted unit sales 65,000 100,000 50,000 Selling price per unit 10.00 10.00 10.00 Total Sales $650,000 $1,000,000 $500,000 SCHEDULE OF EXPECTED CASH COLLECTIONS: April May June February sales 26,000 March sales 280,000 40,000 April sales 130,000 455,000 65,000 May sales 200,000 700,000 June sales 100,000 Total Cash Collections $436,000 $695,000 $865,000 MERCHANDISE PURCHASES BUDGET: April May June Budgeted unit sales 65,000 100,000 50,000 Add desired ending inventory 40,000 20,000 12,000 Total needs 65,000 100,000 50,000 Less beginning inventory (26,000) (40,000) (20,000) Required purchases 79,000 80,000 42,000 Cost of purchases @ $4 per unit $316,000 $320,000 $168,000 BUDGETED CASH DISBURSEMENTS FOR MERCHANDISE PURCHASES: April May June Accounts payable 100,000 April purchases 158,000 158,000 May purchases 160,000 160,000 June purchases 84,000 Total cash payments $258,000 $318,000 $244,000 EARRINGS UNLIMITED CASH BUDGET FOR THE THREE MONTHS ENDING JUNE 30 April May June Cash balance $74,000 $50,000 $50,000 Add collections from customers 436,000 695,000 865,000 Total cash available $510,000 $745,000 $915,000 Less Disbursements Merchandise purchases 258,000 318,000 244,000 Advertising 200,000 200,000 200,000
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Rent 18,000 18,000 18,000 Salaries 106,000 106,000 106,000 Commissions 26,000 40,000 20,000 Utilities 7,000 7,000 7,000 Equipment purchases 0
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