The facts for this problem are presented on the Facts tab of this workbook. Instructions - Your
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Question:
The facts for this problem are presented on the Facts tab of this workbook. | ||
Instructions - Your solutions should be clearly labeled on the Solutions tab of this workbook. | ||
For the first quarter of 2017, do the following. | ||
(a) Prepare a sales budget. This is similar to Illustration 21-3 on page 1088 of your textbook. | ||
(b) Prepare a production budget. This is similar to Illustration 21-5 on page 1089 of your textbook. | ||
(c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to Illustration 21-7 on page 1091 of your textbook. | ||
(d) Prepare a direct labor budget. (For calculations, round to the nearest hour.) This is similar to Illustration 21-9 on page 1094 of your textbook. | ||
(e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dollar.) This is similar to Illustration 21-10 on page 1094 of your textbook. | ||
(f) Prepare a selling and administrative budget. This is similar to Illustration 21-11 on page 1095 of your textbook. | ||
(g) Prepare a budgeted income statement. (Round intermediate calculations to the nearest dollar.) This is similar to Illustration 21-13 on page 1096 of your textbook. | ||
(h) Prepare a cash budget. This is similar to Illustration 21-17 on page 1100 of your textbook. | ||
(You will need to prepare schedules for expected collections from customers and expected payments to vendors first. See Illustrations 21-15 and 21-16 on page 1099 of your textbook for guidance.) | ||
Rules: | ||
* Use Excel's functionality to your benefit. Points are lost for lack of formula. | ||
* Use proper formats for schedules, following the referenced textbook examples. | ||
* Use dollar-signs and underscores where appropriate. | ||
* Double-check your work! Verify your formula and logic! | ||
Grading Guidelines: | ||
Effective Use of Excel | 40% | |
Facts, Logic | 20% | |
Completeness | 30% | |
Spelling, Punctuation, Value Format | 10% | |
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