chapter 22 E22-29 Preparing the financial budget Learning Objective4 pany has budgeted sales revenues as follows: Budgeted Sales Revenues $ 55,000 75,000 90,000 60,000 45,000 35,000 une total cash receipts $37,000 January February March April May June Past experience has indicated that 80% of sales each month are on credit and that collection ofcredit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale. I maining 5% is uncollectible. he re- Requirement Prepare a schedule which shows expected cash receipts from sales for the months of April, May, and June. w a graph illustrating tle w show the costs at 600, 800, and 1,000 inspections. rning Objective 2 E21-31 Calculating contribution margin ratio, preparing contribius to 1 layer wia for the DVD income statements with up recoarding capacity and MIP3 playback capability. Relevant data for th sold by this company in June 2013 are as follows: 0 uni ts VC 5480,000Bluvid produces a high-end, progressive-scan DVD Unit selling price of DVD player Unit variable costs Total monthly fixed costs Units sold 500 300 200,000 1,600 Requirements 1. Prepare a contribution margin income statement for the month ending June 2013. 2. Calculate the contribution margin ratio