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How can i get answer about problem 10#30sheet:I39, I40?

Assignm Please do not (otherwise you will jeopardize the grading proce -rename this workbook -rename any sheets or insert/delete any sheets -insert/delete any columns in a sheet -insert/delete any rows in a sheet Read the Multiple Choice and Excel assignment(s) carefully an You have to complete every cell colored yellow For every cell colored yellow, you have to decide: Dropdown -> Every cell with a dropdown, choose the Value -> enter the appropriate numeric, date/time or Formula -> enter the appropriate formula e.g. '=A1+B Array Formula -> enter the appropriate array formula The initial due date/time for this assignment is Monday, June Cell comments: every cell you must complete has a cell comment. The cell comment has spe When you rest the pointer on the cell, the comment appears. Four items of information will 1. 2. cell value - whether the cell value will be date, logical value, number, text cell formula - simple or array the formula tokens will be provided and sorted e.g. 0 (3), 1 (2), 12 (4), H the formula operators */+-^() are not provided if a formula token is used more than once in the formula, the token cou 3. cell formatting - Excel lets you change many of the ways it displays data in a cell. Fo to the cell. You can access and modify the majority of these settings in the Format characteristics. 4. cell name - any required cell name will be indicated Excel instructions: column AA will contain any Excel instructions for a chart, conditional form Assignment Instructions Quiz: 10 he grading process): nt(s) carefully and do the following: o decide: own, choose the appropriate response from the dropdown ric, date/time or text value mula e.g. '=A1+B1' press Enter te array formula e.g. '=LINEST(A1:A12, B1:B12, True, True)' press Ctrl+Shift+Enter s Monday, June 27, 2016 --- 12:00:00 PM he cell comment has specific information for the student. When a cell has a comment, a red indicator appears in the corner ems of information will be provided to the student in the cell comment. , number, text e.g. 0 (3), 1 (2), 12 (4), H18 (4), H20 (2), H36 (2), I29 (2), I33 (2), IF, ROUNDUP formula, the token count will appear in parentheses e.g. 0 (3), H18 (4) displays data in a cell. For example, you can specify the number of digits to the right of a decimal point, or you can add a patt settings in the Format Cells dialog box (on the Format menu, click Cells). The student is required to only set 13 commonly u chart, conditional formatting, tables, data tables, range names, pivot tables, etc. trl+Shift+Enter r appears in the corner of the cell. nt, or you can add a pattern and border only set 13 commonly used formatting MC-001 Answer: MC-002 Answer: A. B. C. D. E. The master budget for a given accounting period has all the following except: It is considered the "grand plan of action" for the upcoming period It consists of a series of operating and financial budgets It is based on the actual level of sales activity for the period It is considered an important planning document for many organizations It culminates in a set of pro forma financial statements C. A. B. C. D. E. "Budgetary slack" occurs when: An authoritative, or imposed, budgeting process is used The budget is so difficult to meet that employees slack-off from work Employees ask for fewer resources than they need, in order to continuously improve Employees refuse to adhere to budgeted plans and operations In order to "meet" budget objectives, employees ask for resources in excess of what they need E. Ardel Co. budgeted to sell 220,000 units of Zbox in September. Production of one unit of Zbox r five pounds of steel powder. The beginning inventory and the desired ending inventory in units MC-003 Beginning Inventory Zbox Aluminum Steel powder Desired Ending 26,200 33,000 28,600 How many pounds of steel powder does Ardel Co need to purchase during September if Ardel plans to m September? Answer: MC-004 A. B. C. D. E. 897,270 856,485 774,915 815,700 734,130 D. Information pertaining to Yekstop Corp.'s sales revenue is presented below. November Cash sales $106,500 December $137,500 Credit sales Total sales $317,900 $484,000 $424,400 $621,500 Management estimates that 4.00% of credit sales are eventually uncollectible. Of the collectible credit s the month of sale and the remainder in the month following the sale. The company desires to begin eac 82.00% of the sales projected for the month. All purchases of inventory are on open account; 30.00% w the remainder paid in the month following the month of purchase. The purchase costs are approximate Answer: A. B. C. D. E. Budgeted December cash payments by Yekstop Corp for December inventory purchases are: $78,413 $86,667 $74,286 $90,794 $82,540 E. Fresplanade Co. had the following historical pattern for its credit sales: MC-005 collected in the month of sale collected in the first month after sale collected in the second month after sale collected in the third month after sale uncollectible 73.00% 13.00% 9.00% 3.00% 2.00% The sales on open account (credit sales) have been budgeted for the last six months of the year July $79,200 August $92,100 September $106,000 October $119,000 November $130,000 December $111,000 Answer: A. B. C. D. E. C. The estimated total cash collections by Fresplanade Co during October from accounts receivable is: $105,749 $116,881 $111,315 $100,184 $112,428 Fresplanade Co. had the following historical pattern for its credit sales: MC-006 collected in the month of sale collected in the first month after sale collected in the second month after sale collected in the third month after sale uncollectible 73.00% 13.00% 9.00% 3.00% 2.00% The sales on open account (credit sales) have been budgeted for the last six months of the year July $79,200 August $92,100 September $106,000 October $119,000 November $130,000 December $111,000 Answer: A. B. C. D. E. The estimated cash collection by Fresplanade Co during August from July and August credit sales is: $77,529 $85,282 $69,776 $73,653 $81,405 A. Brownsville Novelty Store prepared the following budget information for the month of May: MC-007 Sales are budgeted at $396,000. All sales are on account and a provision for bad d of sales. Inventory was $92,300 on April 30 and an increase of $12,800 is planned for May All inventory is marked to sell at cost plus fifty fivepercent. Estimated cash disbursements for selling and administrative expenses for the mo Depreciation for May is projected at $6,700. Answer: A. B. C. D. E. D. Brownsville's budgeted gross profit in May is: $126,465 $147,542 $154,568 $140,516 $133,490 Brownsville Novelty Store prepared the following budget information for the month of May: MC-008 Sales are budgeted at $396,000. All sales are on account and a provision for bad d of sales. Inventory was $92,300 on April 30 and an increase of $12,800 is planned for May All inventory is marked to sell at cost plus fifty fivepercent. Estimated cash disbursements for selling and administrative expenses for the mo Depreciation for May is projected at $6,700. Answer: A. B. C. D. E. Brownsville's budgeted operating income for May is: $72,908 $76,380 $69,436 $65,964 $62,493 C. Graham Corporation's budgeted production schedule for the coming year is as follows: MC-009 Quarter 1 = Quarter 2 = Quarter 3 = Quarter 4 = 24,550 units 20,900 units 18,600 units 26,500 units Each unit of product requires 3 pounds of direct material. The company's policy is to begin each direct materials production requirements. Graham expects to have 55,000 pounds of direct materials on hand at the beginning of Quarter Answer: MC-010 A. B. C. D. E. What would be Graham's budgeted direct materials purchases in the second quarter? 63,662 66,693 57,599 60,630 54,567 D. General Manufacturing expects to have 44,000 pounds of raw materials inventory on hand on J The company has budgeted the following production for the first four months of the coming ye July August September Production (units) 110,000 132,000 163,000 For the budgeting period, the firm desires each month's ending raw materials inventory to be 2 needs. A finished unit requires two pounds of raw materials. Answer: A. B. C. D. E. General Manufacturing's budgeted purchases of raw materials during July (in lbs.) should be: 251,680 205,920 240,240 228,800 217,360 D. MC-011 Capital One produces a single product, which it sells for $8.80 per unit. Variable costs per unit equal $3. term fixed costs to be $7,970 for the coming month, at the projected sales level of 22,000 units. Manage actions designed to improve operating results. In conjunction with this, they have created a profit-plann different scenarios. Capital One's management believes that a 10.00% reduction in the selling price will increase sales volum then: Answer: MC-012 Answer: MC-013 A. B. C. D. E. Profit should increase by approximately $19,272 per month Profit should increase by approximately $9,636 per month Profit should decrease by approximately $19,272 per month Profit should decrease by approximately $9,636 per month Profit should remain approximately the same D. A. B. C. D. E. Which one of the following is not a way to deal with uncertainty in the budget-preparation process? Linear programming Scenario analysis What-if analysis Monte Carlo Simulation (MCS) Sensitivity analysis A. A. Which of the following is NOT a characteristic of Kaizen Budgeting? These budgets adjust required resource demands based on targeted efficiency and productivity gains Answer: MC-014 Answer: MC-015 Answer: MC-016 Answer: MC-017 B. C. D. E. Cost decreases in the budget are the result of performing the activities more efficiently and with higher These budgets reflect continuous-improvement standards This approach to budgeting can be used in conjunction with both traditional and activity-based budgetin The approach can be used internally, but not for external purposes (e.g., in budgeting supplier costs) E. A. B. C. D. E. A plan showing the units of goods expected to be sold and the expected revenue from sales is called the Cash receipts budget Sales receipts budget Selling expense budget Sales budget Cash budget D. A. B. C. D. Which of the following budgets is not a financial budget? Sales budget Budgeted cash-flow statement Budgeted balance sheet Cash receipts budget A. A. B. C. D. E. Which of the following budgets must be completed before preparing a cash budget? Pro forma income statement Cash financing budget Cash receipts budget Rolling budget Pro forma balance sheet C. A. B. C. D. E. Which of the following factors is least likely to be considered in preparing a sales budget? Plant capacity Past sales volume Proposed selling expenses General economic and industry conditions The cash budget Answer: MC-018 Answer: MC-019 Answer: MC-020 Answer: E. A. B. C. D. E. B. A. B. C. D. E. Sales forecasting by its nature is: Deterministic in nature Precise Somewhat subjective Mechanical Objective C. A. B. C. D. E. Which of the following is not an alternative approach to traditional budgeting practices? Kaizen budgeting Time-driven activity based budgeting (TDABB) Activity-based budgeting (ABB) Zero-based budgeting (ZBB) Operations budgeting E. MC-021 Answer: Sales forecasts are the first step in the budgeting process of a merchandising firm because: Sales personnel have the quickest access to data Almost all activities of a firm emanate from (i.e., are linked to) estimated sales demand The revenue data are easiest to generate Sales forecasts are the most objective of all budgeted activities Sales information is precise in amount Which one of the following is a plan that will allow a manufacturing firm to satisfy its sales goals and hav inventory at the end of the budget period? A. B. C. D. E. A. Production budget Sales forecast Direct materials usage budget Selling and administrative expense budget Sales budget MC-022 Answer: A. B. C. D. E. B. MC-023 Answer: Which one of the following shows the direct materials required for production and their budgeted cost? Production budget Direct materials usage budget Budgeted cost of goods sold Direct materials purchases budget Direct materials cost budget Which one of the following is a budgeting approach that explicitly demands continuous improvement an improvements in the resultant budget? A. B. C. D. E. Zero-base budgeting (ZBB) Time-driven activity-based budgeting (TDABB) Flexible budgeting Activity-based budgeting (ABB) Kaizen budgeting E. MC-024 Cripe Corporation maintains ending inventory for each month at 5.00% of the following month's sales It the first four months of the coming year: January Sales (units) Answer: A. B. C. D. E. B. How many units should be produced in March? 3,616 3,287 3,123 2,958 3,451 2,200 February 2,650 March 3,300 MC-025 Answer: Blake Company has $16,500 cash at the beginning of June and anticipates $54,000 in cash receipts and $ company requires a minimum cash balance of $22,000 Any excess cash over the minimum desired balan agreement with its bank to borrow as needed or to repay loans as funds become available As of May 31 The balance of the loan on June 30 will be: A. B. C. D. E. C. $6,105 $5,273 $5,550 $5,828 $4,995 nuously improve excess of what they need Production of one unit of Zbox required two pounds of aluminum and desired ending inventory in units are: Desired Ending Inventory 14,200 25,100 34,300 during September if Ardel plans to manufacture 162,000 units of Zbox in ented below. January $84,400 $258,500 $342,900 ollectible. Of the collectible credit sales, 71.00% are likely to be collected in e. The company desires to begin each month with an inventory equal to ory are on open account; 30.00% will be paid in the month of purchase, and he purchase costs are approximately 70.00% of the selling prices. nventory purchases are: or the last six months of the year as shown below: er from accounts receivable is: or the last six months of the year as shown below: July and August credit sales is: mation for the month of May: account and a provision for bad debts is made monthly at three percent se of $12,800 is planned for May 31. ministrative expenses for the month are $52,500. mation for the month of May: account and a provision for bad debts is made monthly at three percent se of $12,800 is planned for May 31. ministrative expenses for the month are $52,500. oming year is as follows: company's policy is to begin each quarter with 30.00% of that quarter's hand at the beginning of Quarter 1. e second quarter? materials inventory on hand on June 30, the end of the current year. st four months of the coming year: October 121,000 g raw materials inventory to be 20.00% of the next month's production g July (in lbs.) should be: nit. Variable costs per unit equal $3.50. The company expected total shortd sales level of 22,000 units. Management is considering several alternative his, they have created a profit-planning model, which can be used to evaluate elling price will increase sales volume by 10.00% If this plan is implemented, he budget-preparation process? efficiency and productivity gains es more efficiently and with higher quality ditional and activity-based budgeting e.g., in budgeting supplier costs) cted revenue from sales is called the: a cash budget? aring a sales budget? andising firm because: ated sales demand udgeting practices? firm to satisfy its sales goals and have on hand the desired amount of roduction and their budgeted cost? emands continuous improvement and that incorporates expected 0% of the following month's sales It predicted the following sales (in units) for April 3,040 pates $54,000 in cash receipts and $37,650 in cash disbursements The ash over the minimum desired balance is used to pay down debts Blake has an nds become available As of May 31, the company owes $16,400 to the bank You (Zongfeng Yue) are a relatively recent hire to the Hartz & Co., a local manufacturer of plumbing supply products. You have been asked to prepare for a presentation to the company's management a condensed cash-flow statement for the months of November and December, 2013. Excel Instructions The cash balance at November 1st was $30,200. It is the company's policy to maintain a minimum cash balance of $20,000 at the end of each month. Cash receipts (from cash sales and collection of accounts receivable) are projected to be $224,100 for November and $202,000 for December. Cash disbursements (sales commissions, advertising, delivery expense, wages, utilities, etc.), prior to financing activity, are scheduled to be $250,000 in November and $191,300 in December. Borrowing, when needed, is done at the beginning of the month - in increments of $300. The annual interest rate on any such loans is estimated to be 5.00%. Interest on any outstanding loans is paid in cash at the end of the month. Interest on any outstanding loans is paid in cash at the end of the month. Repayments of principal (if any) are assumed to occur at the end of the month. Required: Use the preceding information to prepare the cash budget for November and December. (Hint: The December 31st cash balance should be $.) Data Input: Cash balance, November 1st Minimum required cash balance Budgeted cash receipts: November December Budgeted cash disbursements: November December Interest rate on borrowings Short-term loan payable, as of November 1st Borrowings in increments of $30,200 $20,000 $224,100 $202,000 $250,000 $191,300 5.0% per year $0 $300 Solution: Cash Budget For November and December, 2013 November December Cash balance, beginning Plus: Cash receipts Total Cash Available $30,200 $224,100 $254,300 0 $202,000 $202,000 Cash disbursements, prior to financing Plus: Minimum cash balance (given) Total Cash Needed $250,000 $20,000 $270,000 $191,300 $20,000 $211,300 Excess (deficiency of) cash, before financing effects Financing: Balance Short term loan beginning of month Short-term borrowing, beginning of the month Repayments (loan principal), end of the month Balance Short term loan end of month Interest (@5.00%), paid in cash @ end of the month Total effects of financing Ending cash balance Most of the points are on cells I39, I40 and L39, L40 -$15,700 $0 15900 0 $15,900 -$9,300 15900 No additional Excel instructions No pivot tables, no tables/lists, no range names, no charts