FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

Question

Frenchies is a medium-sized regional bakery that specializes in providing orders to grocery and convenience stores. Because of the popularity of its brand, it has also opened a small café for walk-in business. In order to maintain its high quality standard, Frenchies produces only three products: breakfast muffins, fresh bread, and chocolate chip cookies. Although business has been good in the past few years, a lucky contact with a large chain has recently allowed it to expand its brand out of the local region. Growth has been high since the new contract went into effect. In 2020, Frenchies sold 45,000 one-dozen packages of muffins for $5.50 each, 65,000 one-dozen packages of cookies for $4.75 each, and 85,000 one-dozen loaves of bread for $5.25 each. They will raise prices to  $6.00 for muffins, $5.25 for cookies, and $5.75 for bread for 2021. Sales will drop some in the first quarter of 2021. They always drop off a bit after the holidays anyway, but with the increase in sales prices, a 20 percent drop from the fourth quarter of 2020 results is forecasted. Sales will grow steadily at about 5 percent a quarter with these new prices during 2021. Fourth-quarter sales will be high because of the holidays let’s say 20 percent, instead of 5 percent, from the third to the fourth quarter. The first quarter of the 2022 will continue the 5 percent growth as though the holiday jump didn’t occur. Frenchies gives their business customers a lot of leeway in paying. They collect 30 percent of the credit sales within the current quarter, 45 percent in the following quarter, and 25 percent in the quarter after that. Total sales were $802,000 in third quarter and $1,002,500 in the fourth quarter of 2020.  They will be still collecting quite a bit of that money in 2021 based on our collection breakdown. Frenchies cookies and bread would dry out if they kept them too long so they normally keep only about two days’ worth of inventory on hand to avoid shipping issues or problems with the café based on a 90-day quarter. Frenchies' raw materials are needed for the next quarter, so they keep 15 percent of the next quarter’s raw materials on hand at all times. 

1. General impression/ recommendations for the company after analyzing the budget?

Estimated % drop:
Sales:
Q4
RR PERR
Q1
Q2
Q3
Q4
Current Year
Q1
Last Year
Q2
Next Year
Sales Price/Item:
Collection Information:
Credit Policy:
Cash Sales
Credit Sales
20%
Muffins
Quarter
Q3
Q4
45,000
36,000
37,800
39,690
49,613
43,758
45,946
$6.00
Collection in Current Quarter
Collection in Following Quarter
Collection in 3rd Quarter
Collections from Last Year's Sales:
Sold
$802,000
$1,002,500
Manufacturing Information:
Ending Inventory Goal:
Raw Materials Goal:
Estimated Growth:
Cookies
Case Data
65,000
52,000
54,600
57,330
71,663
63,206
66,367
$5.25
Prior Year
10%
90%
30%
45%
25%
Received
$621,550
$370,925
15%
Bread
85,000
68,000
71,400
74,970
93,713
82,654
86,787
$5.75
Current Year
5%
Q1
$180,450
$406,013
$586,463
37.0%
Estimated Additional Holiday Increase:
Sales Numbers Trasposed for Copying
Muffins
$0
$225,563
$225,563
Q1
Cookies
Bread
Q1
Q1
36,000
52,000
68,000
40.5%
Payments in Current Year
Q2
Q3
10% Collection Schedule Transposed for Copying
90%
Q1
Q2
Q3
30%
45%
25%
2021
Q2
$0
$0
$0
37,800
2021
Q2
54,600
2021
Q2
71,400
22.5%
Q4
$0
$0
$0
= Signifies original case assumptions.
Q3
57,330
20%
Q4
Q3
39,690 49,613
Q4
71,663
Q3
Q4
74,970 93,713
2022
Q1 Q2
43,758 45,946
2022
Q1 Q2
63,206 66,367
2022
Q1 Q2
82,654 86,787
expand button
Transcribed Image Text:Estimated % drop: Sales: Q4 RR PERR Q1 Q2 Q3 Q4 Current Year Q1 Last Year Q2 Next Year Sales Price/Item: Collection Information: Credit Policy: Cash Sales Credit Sales 20% Muffins Quarter Q3 Q4 45,000 36,000 37,800 39,690 49,613 43,758 45,946 $6.00 Collection in Current Quarter Collection in Following Quarter Collection in 3rd Quarter Collections from Last Year's Sales: Sold $802,000 $1,002,500 Manufacturing Information: Ending Inventory Goal: Raw Materials Goal: Estimated Growth: Cookies Case Data 65,000 52,000 54,600 57,330 71,663 63,206 66,367 $5.25 Prior Year 10% 90% 30% 45% 25% Received $621,550 $370,925 15% Bread 85,000 68,000 71,400 74,970 93,713 82,654 86,787 $5.75 Current Year 5% Q1 $180,450 $406,013 $586,463 37.0% Estimated Additional Holiday Increase: Sales Numbers Trasposed for Copying Muffins $0 $225,563 $225,563 Q1 Cookies Bread Q1 Q1 36,000 52,000 68,000 40.5% Payments in Current Year Q2 Q3 10% Collection Schedule Transposed for Copying 90% Q1 Q2 Q3 30% 45% 25% 2021 Q2 $0 $0 $0 37,800 2021 Q2 54,600 2021 Q2 71,400 22.5% Q4 $0 $0 $0 = Signifies original case assumptions. Q3 57,330 20% Q4 Q3 39,690 49,613 Q4 71,663 Q3 Q4 74,970 93,713 2022 Q1 Q2 43,758 45,946 2022 Q1 Q2 63,206 66,367 2022 Q1 Q2 82,654 86,787
Muffins
Cookies
Bread
Budgeted Sales
Selling price per dozen
28828
Q2
Total Sales Revenue from Muffins
Q3
Budgeted Sales
Selling price per dozen
Q4
Total Sales Revenue
Total Sales Revenue for Cookies
Collections from last year
Q1
Budgeted Sales
Selling price per loaf
Total Sales Revenue for Bread
Total Cash Collections
Sales Budget
Q1
36,000
$6.00
$216,000
Q2
Quarter
52,000
54,600
$5.25
$5.25
$273,000 $286,650
Q1
$586,463
$325,600
37,800
$6.00
$226,800
$0
$0
$0
$912,063
Q3
Schedule of Cash Collections
Quarter
39,690
49,613
$6.00
$6.00
$238,140 $297,675
$0
$0
$923,843
308,083
68,000
$5.75
$391,000
71,400 74,970 93,713
$5.75
$5.75 $5.75
$5.75
$410,550 $431,078 $538,847 $1,771,474
$880,000 $924,000 $970,200 $1,212,750 $3,986,950
Q4
Q2
$225,563
$0
$356,400 $198,000
$341,880
57,330
235,593
71,663
$5.25
$5.25
$5.25
$300,983 $376,228 $1,236,861
Q3
Total
2021
Q4
163,103
$6.00
$978,615
$0
$0
Total
2021
$812,025
$880,000
$924,000
$374,220 $207,900
$358,974 $392,931 $751,905
$0 $448,718 $448,718
$931,194 $1,049,549 $3,816,648
Q1
2022
43,758
$6.00
$262,549 $275,677
Q2
63,206
66,367
$5.25
$5.25
$331,833 $348,425
Accts. Rec.
12/31/2021
45,946
$6.00
82,654
86,787
$5.75
$5.75
$475,263 $499,026
$1,069,646 $1,123,128
$0
$0
$218,295
$764,033
$982,328
expand button
Transcribed Image Text:Muffins Cookies Bread Budgeted Sales Selling price per dozen 28828 Q2 Total Sales Revenue from Muffins Q3 Budgeted Sales Selling price per dozen Q4 Total Sales Revenue Total Sales Revenue for Cookies Collections from last year Q1 Budgeted Sales Selling price per loaf Total Sales Revenue for Bread Total Cash Collections Sales Budget Q1 36,000 $6.00 $216,000 Q2 Quarter 52,000 54,600 $5.25 $5.25 $273,000 $286,650 Q1 $586,463 $325,600 37,800 $6.00 $226,800 $0 $0 $0 $912,063 Q3 Schedule of Cash Collections Quarter 39,690 49,613 $6.00 $6.00 $238,140 $297,675 $0 $0 $923,843 308,083 68,000 $5.75 $391,000 71,400 74,970 93,713 $5.75 $5.75 $5.75 $5.75 $410,550 $431,078 $538,847 $1,771,474 $880,000 $924,000 $970,200 $1,212,750 $3,986,950 Q4 Q2 $225,563 $0 $356,400 $198,000 $341,880 57,330 235,593 71,663 $5.25 $5.25 $5.25 $300,983 $376,228 $1,236,861 Q3 Total 2021 Q4 163,103 $6.00 $978,615 $0 $0 Total 2021 $812,025 $880,000 $924,000 $374,220 $207,900 $358,974 $392,931 $751,905 $0 $448,718 $448,718 $931,194 $1,049,549 $3,816,648 Q1 2022 43,758 $6.00 $262,549 $275,677 Q2 63,206 66,367 $5.25 $5.25 $331,833 $348,425 Accts. Rec. 12/31/2021 45,946 $6.00 82,654 86,787 $5.75 $5.75 $475,263 $499,026 $1,069,646 $1,123,128 $0 $0 $218,295 $764,033 $982,328
Expert Solution
Check Mark
Still need help?
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Frenchies is a medium-sized regional bakery that specializes in providing orders to grocery and convenience stores. Because of the popularity of its brand, it has also opened a small café for walk-in business. In order to maintain its high quality standard, Frenchies produces only three products: breakfast muffins, fresh bread, and chocolate chip cookies. Although business has been good in the past few years, a lucky contact with a large chain has recently allowed it to expand its brand out of the local region. Growth has been high since the new contract went into effect. In 2020, Frenchies sold 45,000 one-dozen packages of muffins for $5.50 each, 65,000 one-dozen packages of cookies for $4.75 each, and 85,000 one-dozen loaves of bread for $5.25 each. They will raise prices to  $6.00 for muffins, $5.25 for cookies, and $5.75 for bread for 2021. Sales will drop some in the first quarter of 2021. They always drop off a bit after the holidays anyway, but with the increase in sales prices, a 20 percent drop from the fourth quarter of 2020 results is forecasted. Sales will grow steadily at about 5 percent a quarter with these new prices during 2021. Fourth-quarter sales will be high because of the holidays let’s say 20 percent, instead of 5 percent, from the third to the fourth quarter. The first quarter of the 2022 will continue the 5 percent growth as though the holiday jump didn’t occur. Frenchies gives their business customers a lot of leeway in paying. They collect 30 percent of the credit sales within the current quarter, 45 percent in the following quarter, and 25 percent in the quarter after that. Total sales were $802,000 in third quarter and $1,002,500 in the fourth quarter of 2020.  They will be still collecting quite a bit of that money in 2021 based on our collection breakdown. Frenchies cookies and bread would dry out if they kept them too long so they normally keep only about two days’ worth of inventory on hand to avoid shipping issues or problems with the café based on a 90-day quarter. Frenchies' raw materials are needed for the next quarter, so they keep 15 percent of the next quarter’s raw materials on hand at all times. Using this information, complete the three tabs in the worksheet. Just fill in the forecasted data in the blue boxes and copy the formulas to complete the sheets.

 

With the information above, how does it translate into the a Production Budget Plan as shown in one of the images?

Muffins
Budgeted Sales
Desired Ending Inventory
Total Units Needed
Less: Beginning Inventory
Cookies
Required Muffin Production
Budgeted Sales
Desired Ending Inventory
Total Units Needed
Less: Beginning Inventory
Bread
Required Cookie Production
Budgeted Sales
Desired Ending Inventory
Total Units Needed
Less: Beginning Inventory
Required Bread Production
Production Budget
Q1
36,000
0
36,000
0
36,000
Q2
68,000
0
68,000
0
68,000
Quarter
37,800
0
37,800
0
37,800
52,000 54,600
0
52,000
0
52,000
Q3
Q4
39,690 49,613
0
49,613
0
39,690
0
39,690
0
49,613
71,663
0
57,330
0
0
54,600 57,330 71,663
0
0
0
54,600 57,330 71,663
71,400 74,970 93,713
0
0
71,400 74,970
0
0
71,400 74,970
0
93,713
0
93,713
Total
2022
163,103
0
163,103
0
163,103
235,593
0
235,593
0
235,593
308,083
0
308,083
0
308,083
Q1
2023
43,758
0
43,758
0
43,758
Q2
82,654
0
82,654
0
82,654
45,946
43,758 348,425
0
43,758
0
43,758
86,787
expand button
Transcribed Image Text:Muffins Budgeted Sales Desired Ending Inventory Total Units Needed Less: Beginning Inventory Cookies Required Muffin Production Budgeted Sales Desired Ending Inventory Total Units Needed Less: Beginning Inventory Bread Required Cookie Production Budgeted Sales Desired Ending Inventory Total Units Needed Less: Beginning Inventory Required Bread Production Production Budget Q1 36,000 0 36,000 0 36,000 Q2 68,000 0 68,000 0 68,000 Quarter 37,800 0 37,800 0 37,800 52,000 54,600 0 52,000 0 52,000 Q3 Q4 39,690 49,613 0 49,613 0 39,690 0 39,690 0 49,613 71,663 0 57,330 0 0 54,600 57,330 71,663 0 0 0 54,600 57,330 71,663 71,400 74,970 93,713 0 0 71,400 74,970 0 0 71,400 74,970 0 93,713 0 93,713 Total 2022 163,103 0 163,103 0 163,103 235,593 0 235,593 0 235,593 308,083 0 308,083 0 308,083 Q1 2023 43,758 0 43,758 0 43,758 Q2 82,654 0 82,654 0 82,654 45,946 43,758 348,425 0 43,758 0 43,758 86,787
Sales:
Estimated % drop:
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Last Year
Current Year
Next Year
Sales Price/Item:
Collection Information:
Credit Policy:
Cash Sales
Credit Sales
Muffins
Quarter
Q3
Q4
20%
45,000
36,000
37,800
39,690
49,613
Collection in Current Quarter
Collection in Following Quarter
Collection in 3rd Quarter
Collections from Last Year's Sales:
Manufacturing Information:
43,758
45,946
$6.00
Sold
$802,000
$1,002,500
Ending Inventory Goal:
Raw Materials Goal:
Cookies
Case Data
65,000
Estimated Growth:
52,000
54,600
57,330
71,663
Prior Year
63,206
66,367
$5.25
Received
10%
90%
30%
45%
25%
$621,550
$370,925
15%
Bread
85,000
68,000
71,400
74,970
93,713
82,654
86,787
$5.75
Current Year
5%
Q1
$180,450
$406,013
$586,463
37.0%
Sales Numbers Trasposed for Copying
Muffins
$0
$225,563
$225,563
Estimated Additional Holiday Increase: 20%
Bread
Q1
Cookies
Q1
Q1
36,000
52,000
68,000
10% Collection Schedule Transposed for Copying
90%
Q1
Q2
Q3
30%
45%
25%
40.5%
Payments in Current Year
Q2
Q3
2022
Q2
37,800
$0
$0
$0
2022
Q2
54,600
2022
Q2
71,400
22.5%
Q4
$0
$0
$0
Q3
39,690
Q3
57,330
= Signifies original case assumptions.
Q3
74,970
Q4
49,613
Q4
71,663
Q4
93,713
2023
Q1 Q2
43,758 45,946
2023
Q1
Q2
43,758 66,367
2023
Q1
Q2
82,654 86,787
expand button
Transcribed Image Text:Sales: Estimated % drop: Q4 Q1 Q2 Q3 Q4 Q1 Q2 Last Year Current Year Next Year Sales Price/Item: Collection Information: Credit Policy: Cash Sales Credit Sales Muffins Quarter Q3 Q4 20% 45,000 36,000 37,800 39,690 49,613 Collection in Current Quarter Collection in Following Quarter Collection in 3rd Quarter Collections from Last Year's Sales: Manufacturing Information: 43,758 45,946 $6.00 Sold $802,000 $1,002,500 Ending Inventory Goal: Raw Materials Goal: Cookies Case Data 65,000 Estimated Growth: 52,000 54,600 57,330 71,663 Prior Year 63,206 66,367 $5.25 Received 10% 90% 30% 45% 25% $621,550 $370,925 15% Bread 85,000 68,000 71,400 74,970 93,713 82,654 86,787 $5.75 Current Year 5% Q1 $180,450 $406,013 $586,463 37.0% Sales Numbers Trasposed for Copying Muffins $0 $225,563 $225,563 Estimated Additional Holiday Increase: 20% Bread Q1 Cookies Q1 Q1 36,000 52,000 68,000 10% Collection Schedule Transposed for Copying 90% Q1 Q2 Q3 30% 45% 25% 40.5% Payments in Current Year Q2 Q3 2022 Q2 37,800 $0 $0 $0 2022 Q2 54,600 2022 Q2 71,400 22.5% Q4 $0 $0 $0 Q3 39,690 Q3 57,330 = Signifies original case assumptions. Q3 74,970 Q4 49,613 Q4 71,663 Q4 93,713 2023 Q1 Q2 43,758 45,946 2023 Q1 Q2 43,758 66,367 2023 Q1 Q2 82,654 86,787
Solution
Bartleby Expert
by Bartleby Expert
SEE SOLUTION
Follow-up Question

Can you show the formulas in the cells please?

Solution
Bartleby Expert
by Bartleby Expert
SEE SOLUTION
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Frenchies is a medium-sized regional bakery that specializes in providing orders to grocery and convenience stores. Because of the popularity of its brand, it has also opened a small café for walk-in business. In order to maintain its high quality standard, Frenchies produces only three products: breakfast muffins, fresh bread, and chocolate chip cookies. Although business has been good in the past few years, a lucky contact with a large chain has recently allowed it to expand its brand out of the local region. Growth has been high since the new contract went into effect. In 2020, Frenchies sold 45,000 one-dozen packages of muffins for $5.50 each, 65,000 one-dozen packages of cookies for $4.75 each, and 85,000 one-dozen loaves of bread for $5.25 each. They will raise prices to  $6.00 for muffins, $5.25 for cookies, and $5.75 for bread for 2021. Sales will drop some in the first quarter of 2021. They always drop off a bit after the holidays anyway, but with the increase in sales prices, a 20 percent drop from the fourth quarter of 2020 results is forecasted. Sales will grow steadily at about 5 percent a quarter with these new prices during 2021. Fourth-quarter sales will be high because of the holidays let’s say 20 percent, instead of 5 percent, from the third to the fourth quarter. The first quarter of the 2022 will continue the 5 percent growth as though the holiday jump didn’t occur. Frenchies gives their business customers a lot of leeway in paying. They collect 30 percent of the credit sales within the current quarter, 45 percent in the following quarter, and 25 percent in the quarter after that. Total sales were $802,000 in third quarter and $1,002,500 in the fourth quarter of 2020.  They will be still collecting quite a bit of that money in 2021 based on our collection breakdown. Frenchies cookies and bread would dry out if they kept them too long so they normally keep only about two days’ worth of inventory on hand to avoid shipping issues or problems with the café based on a 90-day quarter. Frenchies' raw materials are needed for the next quarter, so they keep 15 percent of the next quarter’s raw materials on hand at all times. Using this information, complete the three tabs in the worksheet. Just fill in the forecasted data in the blue boxes and copy the formulas to complete the sheets.

 

With the information above, how does it translate into the a Production Budget Plan as shown in one of the images?

Muffins
Budgeted Sales
Desired Ending Inventory
Total Units Needed
Less: Beginning Inventory
Cookies
Required Muffin Production
Budgeted Sales
Desired Ending Inventory
Total Units Needed
Less: Beginning Inventory
Bread
Required Cookie Production
Budgeted Sales
Desired Ending Inventory
Total Units Needed
Less: Beginning Inventory
Required Bread Production
Production Budget
Q1
36,000
0
36,000
0
36,000
Q2
68,000
0
68,000
0
68,000
Quarter
37,800
0
37,800
0
37,800
52,000 54,600
0
52,000
0
52,000
Q3
Q4
39,690 49,613
0
49,613
0
39,690
0
39,690
0
49,613
71,663
0
57,330
0
0
54,600 57,330 71,663
0
0
0
54,600 57,330 71,663
71,400 74,970 93,713
0
0
71,400 74,970
0
0
71,400 74,970
0
93,713
0
93,713
Total
2022
163,103
0
163,103
0
163,103
235,593
0
235,593
0
235,593
308,083
0
308,083
0
308,083
Q1
2023
43,758
0
43,758
0
43,758
Q2
82,654
0
82,654
0
82,654
45,946
43,758 348,425
0
43,758
0
43,758
86,787
expand button
Transcribed Image Text:Muffins Budgeted Sales Desired Ending Inventory Total Units Needed Less: Beginning Inventory Cookies Required Muffin Production Budgeted Sales Desired Ending Inventory Total Units Needed Less: Beginning Inventory Bread Required Cookie Production Budgeted Sales Desired Ending Inventory Total Units Needed Less: Beginning Inventory Required Bread Production Production Budget Q1 36,000 0 36,000 0 36,000 Q2 68,000 0 68,000 0 68,000 Quarter 37,800 0 37,800 0 37,800 52,000 54,600 0 52,000 0 52,000 Q3 Q4 39,690 49,613 0 49,613 0 39,690 0 39,690 0 49,613 71,663 0 57,330 0 0 54,600 57,330 71,663 0 0 0 54,600 57,330 71,663 71,400 74,970 93,713 0 0 71,400 74,970 0 0 71,400 74,970 0 93,713 0 93,713 Total 2022 163,103 0 163,103 0 163,103 235,593 0 235,593 0 235,593 308,083 0 308,083 0 308,083 Q1 2023 43,758 0 43,758 0 43,758 Q2 82,654 0 82,654 0 82,654 45,946 43,758 348,425 0 43,758 0 43,758 86,787
Sales:
Estimated % drop:
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Last Year
Current Year
Next Year
Sales Price/Item:
Collection Information:
Credit Policy:
Cash Sales
Credit Sales
Muffins
Quarter
Q3
Q4
20%
45,000
36,000
37,800
39,690
49,613
Collection in Current Quarter
Collection in Following Quarter
Collection in 3rd Quarter
Collections from Last Year's Sales:
Manufacturing Information:
43,758
45,946
$6.00
Sold
$802,000
$1,002,500
Ending Inventory Goal:
Raw Materials Goal:
Cookies
Case Data
65,000
Estimated Growth:
52,000
54,600
57,330
71,663
Prior Year
63,206
66,367
$5.25
Received
10%
90%
30%
45%
25%
$621,550
$370,925
15%
Bread
85,000
68,000
71,400
74,970
93,713
82,654
86,787
$5.75
Current Year
5%
Q1
$180,450
$406,013
$586,463
37.0%
Sales Numbers Trasposed for Copying
Muffins
$0
$225,563
$225,563
Estimated Additional Holiday Increase: 20%
Bread
Q1
Cookies
Q1
Q1
36,000
52,000
68,000
10% Collection Schedule Transposed for Copying
90%
Q1
Q2
Q3
30%
45%
25%
40.5%
Payments in Current Year
Q2
Q3
2022
Q2
37,800
$0
$0
$0
2022
Q2
54,600
2022
Q2
71,400
22.5%
Q4
$0
$0
$0
Q3
39,690
Q3
57,330
= Signifies original case assumptions.
Q3
74,970
Q4
49,613
Q4
71,663
Q4
93,713
2023
Q1 Q2
43,758 45,946
2023
Q1
Q2
43,758 66,367
2023
Q1
Q2
82,654 86,787
expand button
Transcribed Image Text:Sales: Estimated % drop: Q4 Q1 Q2 Q3 Q4 Q1 Q2 Last Year Current Year Next Year Sales Price/Item: Collection Information: Credit Policy: Cash Sales Credit Sales Muffins Quarter Q3 Q4 20% 45,000 36,000 37,800 39,690 49,613 Collection in Current Quarter Collection in Following Quarter Collection in 3rd Quarter Collections from Last Year's Sales: Manufacturing Information: 43,758 45,946 $6.00 Sold $802,000 $1,002,500 Ending Inventory Goal: Raw Materials Goal: Cookies Case Data 65,000 Estimated Growth: 52,000 54,600 57,330 71,663 Prior Year 63,206 66,367 $5.25 Received 10% 90% 30% 45% 25% $621,550 $370,925 15% Bread 85,000 68,000 71,400 74,970 93,713 82,654 86,787 $5.75 Current Year 5% Q1 $180,450 $406,013 $586,463 37.0% Sales Numbers Trasposed for Copying Muffins $0 $225,563 $225,563 Estimated Additional Holiday Increase: 20% Bread Q1 Cookies Q1 Q1 36,000 52,000 68,000 10% Collection Schedule Transposed for Copying 90% Q1 Q2 Q3 30% 45% 25% 40.5% Payments in Current Year Q2 Q3 2022 Q2 37,800 $0 $0 $0 2022 Q2 54,600 2022 Q2 71,400 22.5% Q4 $0 $0 $0 Q3 39,690 Q3 57,330 = Signifies original case assumptions. Q3 74,970 Q4 49,613 Q4 71,663 Q4 93,713 2023 Q1 Q2 43,758 45,946 2023 Q1 Q2 43,758 66,367 2023 Q1 Q2 82,654 86,787
Solution
Bartleby Expert
by Bartleby Expert
SEE SOLUTION
Follow-up Question

Can you show the formulas in the cells please?

Solution
Bartleby Expert
by Bartleby Expert
SEE SOLUTION
Knowledge Booster
Background pattern image
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education