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Assignment Question 1 Not complete Points out of 12.00 Flag question Question text Purchases Budget in Units and Dollars Budgeted sales of The Music...

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Assignment  Question  1 Not complete Points out of 12.00 Flag question Question text Purchases Budget in Units and Dollars   Budgeted sales of The Music Shop for the first six months of 2014 are as follows: Month Unit Sales Month Unit Sales January 130,000 April 215,000 Februar y 160,000 May 180,000 March 200,000 June 240,000   Beginning inventory for 2014 is 30,000 units. The budgeted inventory at the end of a month is 40  percent of units to be sold the following month. Purchase price per unit is $5. Prepare a purchases budget in units and dollars for each month, January through May. The Music Shop Purchases Budget January - May, 2014 January February March April May Purchase units: Answer Answer Answer Answer Answer Purchase dollars: $Answer $Answer $Answer $Answer $Answer Question  2 Not complete Points out of 12.00 0 0 0 0 0 0 0 0 0 0
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Question text Cash Budget Wilson's Retail Company is planning a cash budget for the next three months. Estimated sales  revenue is as follows: Month Sales Revenue Month Sales Revenue January $300,000 March $200,000 Februar y 205,000 April 190,000   All sales are on credit; 60 percent is collected during the month of sale, and 40 percent is collected  during the next month. Cost of goods sold is 70 percent of sales. Payments for merchandise sold are made in the month following the month of sale. Operating expenses total $44,000 per month and are paid during the month incurred. The cash balance on February 1 is estimated to be $40,000. Prepare monthly cash budgets for February, March, and April. Use negative signs only with beginning and ending cash balances, when appropriate. Do not  use negative signs with disbursement answers. Wilson's Retail Company Cash Budgets February, March, and April February March April Cash balance, beginning $Answer $Answer $Answer Total Cash receipts Answer Answer Answer Cash available Answer Answer Answer Total disbursements Answer Answer Answer Cash balance, ending $Answer $Answer $Answer  
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