Question: Please help with whole problem and if possible use tables formatted like question. b. Prepare a monthly schedule of cash receipts. Sales in December before

 Please help with whole problem and if possible use tables formattedlike question. b. Prepare a monthly schedule of cash receipts. Sales inDecember before the planning year are $100,000. Prepare a cash payments schedulefor January through December. The production costs of $2 per unit arepaid for in the month which they occur. Other cash payments, besides

Please help with whole problem and if possible use tables formatted like question.

b. Prepare a monthly schedule of cash receipts. Sales in December before the planning year are $100,000. Prepare a cash payments schedule for January through December. The production costs of $2 per unit are paid for in the month which they occur. Other cash payments, besides those for production costs, are $53,000 per month. a. Construct a monthly production and inventory schedule in units. Beginning inventory in January is 33,000 units. Note: Input all your answers as positive numbers. Bombs Away Video Games Corporation has forecasted the following monthly sales: Bombs Away Video Games sells the popular Strafe and Capture video game. It sells for $5 per unit and costs $2 per unit to produce. A level production policy is followed. Each month's production is equal to annual sales (in units) divided by 12. Of each month's sales, 20 percent are for cash and 80 percent are on account. All accounts receivable are collected in the month after the sale is made. Prepare a monthly cash budget for January through December using the cash receipts schedule from part b and the cash payments schedule from part c. The beginning cash balance is $5,000, which is also the minimum desired. Note: Negative amounts should be indicated by a minus sign. Leave no cells blank be certain to enter ' 0 ' wherever required

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!