Copy of Master+Budget - Earnings Unlimited 1 a Sales budget...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Earnings Unlimited 1 a Sales budget April May June Total Sales (units) 65,000 100,000 50,000 215,000 Sales (dollars) $650,000 $1,000,000 $500,000 $2,150,000 b Cash collections from sale April May June Total 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 collections $436,000 $695,000 $865,000 $1,996,000 c Merchandise purchase budget April May June Total In units Desired ending inventory 40,000 20,000 12,000 72,000 Add: Sales during the month 65,000 100,000 50,000 215,000 Less: Opening inventory (26,000) (40,000) (20,000) (86,000) Purchases 79,000 80,000 42,000 201,000 Purchases (in dollars) @$4 per unit $316,000 $320,000 $168,000 $804,000 d Cash disbursement for purchases April May June Total March purchases $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
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/11/2012 for the course ACCOUNTING 505 taught by Professor Layvand during the Spring '08 term at Keller Graduate School of Management.

Ask a homework question - tutors are online