Chapter 8: (Algo) Applying Excel: Exercise (Part 2 of 2) Requirement 2: The company has just...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Chapter 8: (Algo) Applying Excel: Exercise (Part 2 of 2) Requirement 2: The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Data Budgeted unit sales Selling price per unit 1 Chapter 8: Applying Excel 2 3 Data 4 5 6 7. Selling price per unit 8 Budgeted unit sales . . Accounts receivable, beginning balance 9 • Sales collected in the quarter sales are made 10 • Sales collected in the quarter after sales are made 11 Desired ending finished goods inventory is 12 Finished goods inventory, beginning 13 Raw materials required to produce one unit 14 Desired ending inventory of raw materials is 15 Raw materials inventory, beginning 16 Raw material costs 17 18 19 Accounts payable for raw materials, beginning balance . A . 1 50,000 $7 Raw materials purchases are paid and. Year 2 Quarter 2 3 70,000 110,000 $ $ $ $ B 1 4 70,000 50,000 C 2 7 per unit Year 3 Quarter 1 90,000 70.000 2 95,000 D 3 110,000 E 5 pounds 10% of the next quarter's production needs 23,000 pounds 0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase 81,500 4 70,000 65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units F Year 3 Quarter 1 90,000 G 2 95,000 a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year b. What is the total required production for the year under this revised budget? Total required production for the year c. What is the total cost of raw materials to be purchased for the year under this revised budget? Total cost of raw materials to be purchased for the year d. What are the total expected cash disbursements for raw materials for the year under this revised budget? Total expected cash disbursements for raw materials for the year e. After seeing this revised budget, the production manager cautioned that due to the current production constraint, a complex milling machine, the plant can produce no more than 80,000 units in any one quarter. Is this a potential problem? No Yes Chapter 8: (Algo) Applying Excel: Exercise (Part 2 of 2) Requirement 2: The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Data Budgeted unit sales Selling price per unit 1 Chapter 8: Applying Excel 2 3 Data 4 5 6 7. Selling price per unit 8 Budgeted unit sales . . Accounts receivable, beginning balance 9 • Sales collected in the quarter sales are made 10 • Sales collected in the quarter after sales are made 11 Desired ending finished goods inventory is 12 Finished goods inventory, beginning 13 Raw materials required to produce one unit 14 Desired ending inventory of raw materials is 15 Raw materials inventory, beginning 16 Raw material costs 17 18 19 Accounts payable for raw materials, beginning balance . A . 1 50,000 $7 Raw materials purchases are paid and. Year 2 Quarter 2 3 70,000 110,000 $ $ $ $ B 1 4 70,000 50,000 C 2 7 per unit Year 3 Quarter 1 90,000 70.000 2 95,000 D 3 110,000 E 5 pounds 10% of the next quarter's production needs 23,000 pounds 0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase 81,500 4 70,000 65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units F Year 3 Quarter 1 90,000 G 2 95,000 a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year b. What is the total required production for the year under this revised budget? Total required production for the year c. What is the total cost of raw materials to be purchased for the year under this revised budget? Total cost of raw materials to be purchased for the year d. What are the total expected cash disbursements for raw materials for the year under this revised budget? Total expected cash disbursements for raw materials for the year e. After seeing this revised budget, the production manager cautioned that due to the current production constraint, a complex milling machine, the plant can produce no more than 80,000 units in any one quarter. Is this a potential problem? No Yes
Expert Answer:
Answer rating: 100% (QA)
To solve this challenge problem you need to follow these steps 1 G... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Company Case Kraft Heinz: Once a Taste Maker Now Struggles as Consumer Tastes Change In the era of high-tech Silicon Valley startups, the Googles, Amazons, and Facebooks of the world seem to get all...
-
discuss case study a bout remote analysis during covid 1 9 - 1 9 virus
-
1- Do you think it is possible for an outsider to accurately discern about the underlying cultural values of an organization by analyzing symbols, ceremonies, dress, or other observable aspects of...
-
A group of 30 students attend a class in a room that measures 10 m by 8 m by 3 m. Each student takes up about 0.075 m 3 and gives out about 80 W of heat (l W = l J/s). Calculate the air temperature...
-
Identify the important legal provisions governing information security and privacy in your country.
-
On January 2, 2014, Wavepoint Systems installed a computerized machine in its factory at a cost of $169,200. The machines useful life was estimated at four years or a total of 181,500 units with a...
-
The following information was taken from Crane Ltd's adjusted trial balance as at July 31, 2024 Sales revenus $2,809,000 Interest expensa 40,000 Cost of goods sold 1,564,613 Utilities expense 14,000...
-
Keeper Corporations income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow. Keeper Corporation Income Statement For the Year Ended...
-
Write a one page document that explains your strategy for acquiring resources in the simulation and in real life? Use of proper APA formatting and citations. If supporting evidence from outside...
-
References : Hudson, M (2009) Managing Without Profit, UNSW Press: Sydney (see Chapters 6 & 9) . Robbins et al., (2019) Management: the essentials (4 th Ed.) Pearson Australia: Melbourne (see Chapter...
-
what are the measurements and measures 2. what are the 5 details of the study 3. what are the research strategies ,extensive researcher interference study setting, analysis and time horizon the...
-
The Conference Board reported that between 1987 and 2009, four key indicators of job satisfaction declined dramatically; (a) interest in their work, down 18.9 percent; (b) job security, down 16.5...
-
Zach and the hospital board of directors are concerned about the organizational culture in the emergency department. Zach has asked you to recommend ways to improve the organizational culture and to...
-
Researchers at the Pharmaceutical Drug Company have manufactured a new drug which they think will be an effective treatment for stress and anxiety. The company must decide whether to carry on with...
-
What are multinational corporations (MNCs) and what economic roles do they play?
-
Jenny earns $34,500 in 2012. Calculate the FICA tax that must be paid by: Jenny: ..............................Soc,Sec. ..................$______________...
-
Sherry rents her vacation home for 6 months and lives in it for 6 months during the year. Her gross rental income during the year is $4,000. Total real estate taxes for the home are $950, and...
-
Mallory Corporation has a calendar year-end. The corporation has paid estimated payments of $10,000 during 2012 but still owes an additional $5,000 for its 2012 tax year. a. When is the 2012 tax...
-
Kinney A.. had the following assets and liabilities on the dates indicated. Kinney began business on January 1, 2024, with an investment of 100,000. Instructions From an analysis of the change in...
-
Two items are omitted from each of the following summaries of statement of financial position and income statement data for two proprietorships for the year 2025, Greenes Goods and Solar Enterprises....
-
Listed below are some items found in the financial statements of Min-Seo Promotions. Indicate in which financial statement(s) the following items would appear. a. Service revenue. b. Equipment. c....
Study smarter with the SolutionInn App