Project Description:

moontrust bank has asked the president of wishware products, inc., for a budgeted income statement and budgeted balance sheet for the quarter ended june 30. these pro forma statements are needed to support wishware products' request for a loan. wishware products routinely prepares a quarterly master budget. the operating budgets prepared for the quarter ending june 30 have provided the following information: projected sales for april are $220,400; for may, $164,220; and for june, $165,980. direct materials purchased for the period are estimated at $96,840; direct materials usage, at $102,710; direct labor expenses, at $71,460; overhead, at $79,940; selling and administrative expenses, at $143,740; capital expenditures, at $125,000 ( to be spent on june29); cost of goods manufactured, at $252,880; and cost of goods sold, at $251,700. balance sheet account balances at march 31 were as follows: accounts receivable, $26,500; materials inventory, $23,910; work in process inventory, $31, 620; finished goods inventory, $36,220; prepaid expenses, $7200; plant, furniture, and fixtures, $498,600; accumulated depreciation, plant, furniture and fixtures, $141,162; patents, $90,600; accounts payable, $ 39,600; notes payable, $150,500; common stock, $250,000; and retained earnings, $207,158.
Skills Required:
Project Stats:

Price Type: Negotiable

Total Proposals: 0
1 Current viewersl
9 Total views
Project posted by:


Proposals Reputation Price offered

    There is no proposal yet.