master+budget+harrison+company+adjusted

master+budget+harrison+company+adjusted -...

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1. Sales Budget 2. Production Budget 3. Direct Material Budget 4. Direct Labor Budget 5. Manufacturing Overhead Budget 6. Ending Finished Goods Inventory Budget 7. Selling and Admin Budget 8. Cash Budget 9. Budgeted Income Statement 10. Budgeted Balance Sheet
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HARRISON COMPANY SALES BUDGET FOR QUARTER ENDED MARCH 31, 20XX Month January February March BUDGETED SALES IN UNITS  5,250.00   5,512.50   5,788.13  SALES PRICE PER UNIT  $225.00   $225.00   $225.00   $1,181,250.00   $1,240,312.50   $1,302,328.13  SALES ARE COLLECTED AS FOLLOWS:    COLLECTED IN THE MONTH OF SALE 0.7    COLLECTED IN THE MONTH FOLLOWING 0.3 SCHEDULE OF EXPECTED CASH COLLECTIONS ACCOUNTS RECEIVEABLE, BEGINNING BALANC  $337,500.00  JANUARY SALES  $826,875.00   $354,375.00  FEBRUARY SALES  $868,218.75   $372,093.75  MARCH SALES  $911,629.69  TOTAL CASH COLLECTIONS  $1,164,375.00   $1,222,593.75   $1,283,723.44  ACCOUNTS RECEIVEABLE, ENDING BALANCE $390,698.44
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1ST QTR  16,550.63   $3,723,890.63   $337,500.00   $1,181,250.00   $1,240,312.50   $911,629.69   $3,670,692.19 
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HARRISON COMPANY PRODUCTION BUDGET FOR QUARTER ENDED MARCH 31, 20XX (in units) Month TABLES January February March BUDGETED SALES (SCHEDULE 1)  5,250.00   5,512.50   5,788.13  ADD DESIRED ENDING INVENTORY OF FINISHED GOOD  1,102.50   1,157.63   1,215.51  TOTAL NEEDS  6,352.50   6,670.13   7,003.63  LESS BEGINNING INVENTORY OF FINISHED GOODS  1,000.00   1,102.50   1,157.63  REQUIRED PRODUCTION  5,352.50   5,567.63   5,846.01 
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1ST QTR April May  16,550.63  6077.53 6381.41  1,276.28   7,353.81   1,215.51   16,766.13   6,138.31 
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HARRISON COMPANY DIRECT MATERIALS BUDGET FOR QUARTER ENDED MARCH 31, 20XX Month January February REQUIRED PRODUCTION IN UNITS  5,352.50   5,567.63  wood needed for production  16,057.50   16,702.88  add:  ending inventory level desired  1,670.29   1,753.80  less:  beginning inventory on hand  2,000.00   1,670.29  wood purchases needed  15,727.79   16,786.39  REQUIRED PRODUCTION IN UNITS  5,352.50   5,567.63  legs needed for production  21,410.00   22,270.50  add:  ending inventory level desired  2,227.05   2,338.40  less:  beginning inventory on hand  200.00   2,227.05  leg purchases needed  23,437.05   22,381.85  raw material purchases, wood  $314,555.75   $335,727.79  raw material purchases, legs  $46,874.10   $44,763.71  total raw material purchases  $361,429.85   $380,491.49  Accounts payable, materials, begin  $300,000.00  Raw material payments (one month stagger)  $361,429.85  total RM payments  $300,000.00   $361,429.85  Accounts payable, materials, ending Ending materials legs wood total
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March 1ST QTR April  5,846.01   16,766.13   6,138.31   17,538.02   18,414.92 
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This note was uploaded on 09/29/2011 for the course ACC 311 taught by Professor Hiles during the Spring '11 term at University of Phoenix.

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master+budget+harrison+company+adjusted -...

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