Question: plz answer2,3,4 Required: 1. Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets: a. A sales budget by

 plz answer2,3,4 Required: 1. Prepare a master budget for the three-monthperiod ending June 30. Include the following detailed budgets: a. A salesbudget by month and in total. Sales budget April May June Quarter

plz answer2,3,4

Budgeted sales in units 75,000 109,000 60,000 244,000 Selling price per unit10 10 10 10 Total sales $ 750,000 $ 1,090,000 600,000 2,440,000b. A schedule of expected cash collections from sales, by month andin total. KNOCKOFFS UNLIMITED Schedule of Expected Cash Collections April May JuneQuarter February sales $ 36,000 36,000 March sales 343,000 490,000 833,000 April

Required: 1. Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets: a. A sales budget by month and in total. Sales budget April May June Quarter Budgeted sales in units 75,000 109,000 60,000 244,000 Selling price per unit 10 10 10 10 Total sales $ 750,000 $ 1,090,000 600,000 2,440,000 b. A schedule of expected cash collections from sales, by month and in total. KNOCKOFFS UNLIMITED Schedule of Expected Cash Collections April May June Quarter February sales $ 36,000 36,000 March sales 343,000 490,000 833,000 April sales 150,000 525,000 75,000 750,000 May sales 218,000 763,000 981,000 June sales 12,000 12,000 Total cash collections 759,000 $ 1,778,000 75,000 $ 2,612,0003. A budgeted income statement for the three-month period ending June 30. Use the variable costing approach KNOCKOFFS UNLIMITED Budgeted Income Statement For the Three Months Ended June 30 Variable expenses: 0 Fixed expenses: 0 0 04. A budgeted balance sheet as of June 30. KNOCKOFFS UNLIMITED Budgeted Balance Sheet June 30 Assets Total assets Liabilities and Shareholders' Equity Total liabilities and shareholders' equityC. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. KNOCKOFFS UNLIMITED Merchandise Purchases Budget April May June Quarter Budgeted sales in units 750,000 1,090,000 600,000 244,000 Add: Budgeted ending inventory 43,600 24,000 16,000 16,000 Total needs 793,600 1, 114,000 616,000 260,000 Less: Beginning inventory 36,000 13,600 24,000 36,000 Required unit purchases 757,600 1,070,400 592,000 224,000 Unit cost $ 4 $ 4 $ $ Required dollar purchases 6 3,030,400 $ 4,281,600 $ 2,368,000 896,000 d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. KNOCKOFFS UNLIMITED Schedule of Expected Cash Disbursements June Quarter March purchases 0 April purchases 0 May purchases 0 June purchases 0 Total cash disbursements 0 $ 0 $ 02. A cash budget. Show the budget by month and in total. (Round your Intermediate calculations and final answers to the nearest whole dollar. Also, round down your interest calculations to the next whole dollar amount. Cash deficiency, repayments and Interest should be indicated by a minus sign. Do not leave any empty spaces; input a 0 wherever It Is required.) KNOCKOFFS UNLIMITED Cash Budget For the Three Months Ending June 30 April May June Quarter Cash balance, beginning Add receipts from customers Total cash available 0 0 0 Less disbursements: Purchase of inventory Advertising Rent Salaries and wages Sales commissions Utilities Dividends paid Equipment purchases Total disbursements 0 0 0 Excess (deficiency) of receipts over disbursements 0 0 Financing Borrowings Repayments Interest Total financing 0 0 0 0 Cash balance, ending 0 $ 0 $ 0 $

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!