{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Project A - Earrings Unlimited Sales Budget For the...

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

View Full Document Right Arrow Icon
Earrings Unlimited Sales Budget For the three-month period ending June 30 April May June Quarter Budgeted unit sales 65,000 100,000 50,000 215,000 Selling price per unit 10.00 10.00 10.00 10.00 Total Sales 650,000 1,000,000 500,000 2,150,000 Percentage of sales collected in the period of the sale 20% Percentage of sales collected in the period after the sale 70% Percentage of sales uncollected in the second month following the sale 10% Schedule of Expected Cash Collections April May June Quarter February sales 26,000 - - 26,000 March sales 280,000 40,000 - 320,000 April sales 130,000 455,000 65,000 650,000 May sales - 200,000 700,000 900,000 June sales - - 100,000 100,000 Total Cash Collections 436,000 695,000 865,000 1,996,000 Merchandise Purchases Budget: April May June Quarter Budgeted unit sales(Schedule 1) 65,000 100,000 50,000 215,000 Add desired ending inventory 40,000 20,000 12,000 12,000 Total needs 105,000 120,000 62,000 227,000 Less beginning inventory 26,000 40,000 20,000 26,000 Required purchases 79,000 80,000 42,000 201,000 Cost of purchases @ $4 per unit 316,000 320,000 168,000 804,000 Schedule of Expected Cash Disbursements for Merchandise Purchase April May June Quarter Accounts payable 3/31 100,000 - - 100,000 April purchases 158,000 158,000 - 316,000 May purchases - 160,000 160,000 320,000 June purchases - - 84,000 84,000 Total cash disbursements 258,000 318,000 244,000 820,000
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