have to figure out the quarterly numbers for direct materials purchases, cash purchases budget, and direct labor budget. I have members completed part to 3 parts before which need to be checked that numbers are acurate. Make sure to add onto excel sheet with completed part and do calculations on excell.
1-3 of project completed attached
template for project attached .. but do work by adding onto first attachment
attachment of example teacher gave yo understand what needed to be done
20000 50000 30000 25000 15000 10 10 10 10 10 0.7 0.25 0.05 0.2 5 0.4 13000 0.1 0.5 0.5 0.05 10 20 50500 20500 0.5 70000 10000 0.16 0.04 30000 51000 0 0 0 143700 48800 Schedule 1: Sales Budget Schedule 3: Production Budget in Units Schedule 4: Direct Materials Purchases Schedule 2: Cash receipts Schedule 7: Overhead Budget Sales price per unit cost per lb Purchase on Credit Purchase on Cash cost per DLH Var Selling per unit Minimum Cash Beg Inv RM in lbs Schedule 5: Cash Purchases Budget Schedule 6: Direct Labor Budget April May June August April 1. All sales are on account. 25% are collected in the month following sale; and the remaining 5% are uncollectible. Uncollectible July 2. The accounts receivable balance on March 31 was $30,000. All of this balance was collectible. 3. The company collects 70% of these credit sales in the month of the sale; 1. The company desires to have inventory on hand at the end of each month equal to 20% of the following month’s budgeted unit sales. 2. On March 31, 4,000 units were on hand. 1. Five lbs. of material are required per unit of product 10% of the following month’s production needs. Each unit requires in lbs 2. The material costs $0.40 per lb. 3. Management desires to have materials on hand at the end of each month equal to 4. The beginning materials inventory was 13,000 lbs. 1. Half of a month’s purchases are paid for in the month of purchase; the other half is paid for in the following month. 2. There are no discounts for early payment. 3. The accounts payable balance on March 31 was $12,000. They are all collected in April. Each unit produced requires 0.05 hour of direct labor. Each hour of direct labor costs the company $10. Management fully adjusts the workforce to…
Attachments:
1-3_first_par….xls
members_quest….jpg