48ec449cc8e37f7691033677a82dffba Chapter 8: Applying Excel Data • • Budgeted unit sales Selling price per unit • Accounts receivable, beginning balance Sales collected in the quarter sales are made Sales collected in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning Raw materials required to produce one unit Desired ending inventory of raw materials is Raw materials inventory, beginning Raw material costs Raw materials purchases are paid and • Accounts payable for raw materials, beginning balance Year 2 Quarter 1 2 3 4 40,000 60,000 100,000 50,000 $8 per unit $65,000 75% 25% 30% of the budgeted unit sales of the next qua 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 Enter a formula into each of the cells marked with a ? below Review Problem: Budget Schedules Construct the sales budget Budgeted unit sales Selling price per unit Total sales Year 2 Quarter 1 2 3 4 ? ? ? ? ? ? ? ? Construct the schedule of expected cash collections Year 2 Quarter 1 2 3 4 Accounts receivable, beginning balance ? First-quarter sales ? ? Second-quarter sales งง ? Third-quarter sales Fourth-quarter sales Total cash collections ? ? 22 ? ? ? ? ? ? Construct the production budget Year 2 Quarter 1 2 3 4 Budgeted unit sales ? ? ? Add desired finished goods inventory Total needs ? ? ? ? ? ? ? Less beginning inventory ? ? ? ? Required production ? ? ? ? Construct the raw materials purchases budget Year 2 Quarter 1 2 3 4 Required production (units) ? ? ? ? Raw materials required to produce one unit ? ? ? Production needs (pounds) ? ? ? ? Add desired ending inventory of raw materials (pounds) Total needs (pounds) ? ? ? ? ? ? ? Less beginning inventory of raw materials (pounds) ? ? ? ? Raw materials to be purchased ? ? ? ? Cost of raw materials per pound ? ? ? ? Cost of raw materials to be purchased Page 1 ? ? ? ?
48ec449cc8e37f7691033677a82dffba Chapter 8: Applying Excel Data • • Budgeted unit sales Selling price per unit • Accounts receivable, beginning balance Sales collected in the quarter sales are made Sales collected in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning Raw materials required to produce one unit Desired ending inventory of raw materials is Raw materials inventory, beginning Raw material costs Raw materials purchases are paid and • Accounts payable for raw materials, beginning balance Year 2 Quarter 1 2 3 4 40,000 60,000 100,000 50,000 $8 per unit $65,000 75% 25% 30% of the budgeted unit sales of the next qua 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 Enter a formula into each of the cells marked with a ? below Review Problem: Budget Schedules Construct the sales budget Budgeted unit sales Selling price per unit Total sales Year 2 Quarter 1 2 3 4 ? ? ? ? ? ? ? ? Construct the schedule of expected cash collections Year 2 Quarter 1 2 3 4 Accounts receivable, beginning balance ? First-quarter sales ? ? Second-quarter sales งง ? Third-quarter sales Fourth-quarter sales Total cash collections ? ? 22 ? ? ? ? ? ? Construct the production budget Year 2 Quarter 1 2 3 4 Budgeted unit sales ? ? ? Add desired finished goods inventory Total needs ? ? ? ? ? ? ? Less beginning inventory ? ? ? ? Required production ? ? ? ? Construct the raw materials purchases budget Year 2 Quarter 1 2 3 4 Required production (units) ? ? ? ? Raw materials required to produce one unit ? ? ? Production needs (pounds) ? ? ? ? Add desired ending inventory of raw materials (pounds) Total needs (pounds) ? ? ? ? ? ? ? Less beginning inventory of raw materials (pounds) ? ? ? ? Raw materials to be purchased ? ? ? ? Cost of raw materials per pound ? ? ? ? Cost of raw materials to be purchased Page 1 ? ? ? ?
Chapter7: Budgeting
Section: Chapter Questions
Problem 12MC: The units required in production each period are computed by which of the following methods? adding...
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I need help filling in all of the blanks on this Excel sheet. I have to check the worksheet by changing the budgeted unit sales in Quarter 2 of Year 2 in cell C5 to 75,000 units. The total expected cash collections for the year should now be $2,085,000. The required production for the year should be 274,000 units. The cost of raw materials to be purchased for the year should be $1,106,800, whereas the total cash disbursements for the year should be $1,095,980.
Transcribed Image Text:48ec449cc8e37f7691033677a82dffba
Chapter 8: Applying Excel
Data
•
•
Budgeted unit sales
Selling price per unit
•
Accounts receivable, beginning balance
Sales collected in the quarter sales are made
Sales collected in the quarter after sales are made
Desired ending finished goods inventory is
Finished goods inventory, beginning
Raw materials required to produce one unit
Desired ending inventory of raw materials is
Raw materials inventory, beginning
Raw material costs
Raw materials purchases are paid
and
• Accounts payable for raw materials, beginning balance
Year 2 Quarter
1
2
3
4
40,000
60,000
100,000
50,000
$8 per unit
$65,000
75%
25%
30% of the budgeted unit sales of the next qua
12,000 units
5 pounds
10% of the next quarter's production needs
23,000 pounds
$0.80 per pound
60% in the quarter the purchases are made
40% in the quarter following purchase
$81,500
Enter a formula into each of the cells marked with a ? below
Review Problem: Budget Schedules
Construct the sales budget
Budgeted unit sales
Selling price per unit
Total sales
Year 2 Quarter
1
2
3
4
?
?
?
?
?
?
?
?
Construct the schedule of expected cash collections
Year 2 Quarter
1
2
3
4
Accounts receivable, beginning balance
?
First-quarter sales
?
?
Second-quarter sales
งง
?
Third-quarter sales
Fourth-quarter sales
Total cash collections
?
?
22
?
?
?
?
?
?
Construct the production budget
Year 2 Quarter
1
2
3
4
Budgeted unit sales
?
?
?
Add desired finished goods inventory
Total needs
?
?
?
?
?
?
?
Less beginning inventory
?
?
?
?
Required production
?
?
?
?
Construct the raw materials purchases budget
Year 2 Quarter
1
2
3
4
Required production (units)
?
?
?
?
Raw materials required to produce one unit
?
?
?
Production needs (pounds)
?
?
?
?
Add desired ending inventory of raw materials (pounds)
Total needs (pounds)
?
?
?
?
?
?
?
Less beginning inventory of raw materials (pounds)
?
?
?
?
Raw materials to be purchased
?
?
?
?
Cost of raw materials per pound
?
?
?
?
Cost of raw materials to be purchased
Page 1
?
?
?
?
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