Here is the rest of it . the credit line, and an estimated balance of the credit
Fantastic news! We've Found the answer you've been seeking!
Question:
Here is the rest of it
the credit line, and an estimated balance of the credit line.
The Credit line has a balance at the end of December of the prior year of $
REQUIRED:
a Prepare a Selling and Administrative Budget
b Prepare a capital expenditure budget.
c Prepare a cash budget showing total sources and uses of cash for the quarter.
d Prepare a schedule showing the line of credit for borrowings, repayments, interest etc.
L C Body Boards Inc. Budgeting Project
A Prepare a budgeted income statement for the first quarter. Cost of Goods Should be calculated based on estimated costs of production for the quarter.
B Prepare the Budgeted Balance Sheet for March X
The following was from the December Balance sheet.
Plant and Equipment $
Accumulated Depreciation $
Common Stock did not change $
Retained Earnings $
The company has a line of credit with an interest rate of The company has good credit and can borrow funds on a secured basis at but has not done so
C What recommendations would you provide to L C Body Boards Inc. about financing of the equipment purchases in March? Provide an analysis to support your position and provide the Why to your recommended course of action. How much would the company save using your recommendation?
Check Figures
Total Sales For quarter
Total Raw Materials Purchased For quarter
Total Direct Labor Cost March XX
Budgeted MFG OH Cost per Unit For quarter, this is rounded to decimal places
Ending Finished Goods Inventory End of March XX
Total S&A Expenses For quarter
Total Financing End of March
Net Income For quarter
Total Assets March XX
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: