Problem #7: Operating Budgets  Marker Products, Inc. sells all of its products on credit. The company expects to collect 65%of sales in the quarter of sale and 35% the quarter following the sale. Accounts receivable at the end of last year totaled $3,000,000, all of which will be collected in the first quarter of the coming year. Marker's sales budget shows the following projected sales revenues: Quarter 1: $8,800,000 Quarter 2: $11,000,000 Quarter 3: $11,440,000 Quarter 4: $10,560,000   Required: Prepare a budget for cash collections from sales for each of the four quarters.

Preparing a Selling and Administrative Expenses Budget Fazel Company makes and sells paper products. In the coming year, Fazel expects total sales of $19,200,000. There is a 5% commission on sales. In addition, fixed expenses of the sales and administrative offices include the following: Salaries Utilities Office space $960,000 365,000 230,000 Advertising 1,200,000 Required: Prepare a selling and administrative expenses budget for Fazel Company for the coming year.

Preparing a Selling and Administrative Expenses Budget Fazel Company makes and sells paper products. In the coming year, Fazel expects total sales of $19,800,000. There is a 4% commission on sales. In addition, fixed expenses of the sales and administrative offices include the following: Salaries $ 960,000 Utilities 365,000 Office space 230,000 Advertising 1,200,000 Required: Prepare a selling and administrative expenses budget for Fazel Company for the coming year. Fazel Company Selling and Administrative Expenses Budget For the Coming Year Variable selling expenses Fixed expenses: Salaries Utilities Office spacе Advertising Total fixed expenses Total selling and administrative expenses

Browning Company's sales budget shows the following expected total sales: Month Sales $23,000 $27,000 $32,000 $43,000 January February March April The company expects 70% of its sales to be on account (credit sales). Credit sales are collected as follows: 25% in the month of sale, 69% in the month following the sale with the remainder being uncollectible and written off. The total cash inflows from sales in April would be: Multiple Choice $22,575 $25,005. $35,881 $23,200

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Preparing a Selling and Administrative Expenses Budget Fazel Company makes and sells paper products. In the coming year, Fazel expects total sales of $20,000,000. There is a 3% commission on sales. In addition, fixed expenses of the sales and administrative offices include the following: Salaries $ 960,000 Utilities 365,000 Office space 230,000 Advertising 1,200,000 Required: Prepare a selling and administrative expenses budget for Fazel Company for the coming year. Fazel Company Selling and Administrative Expenses Budget For the Coming Year Variable selling expenses   $fill in the blank 1 Fixed expenses:     Salaries $fill in the blank 2   Utilities fill in the blank 3   Office space fill in the blank 4   Advertising fill in the blank 5   Total fixed expenses   fill in the blank 6 Total selling and administrative expenses   $fill in the blank 7

Problem IV * Singal Inc. is preparing its cash budget. It expects to have sales of P30, 000 in January, P35, 000 in February, and P35, 000 in March. If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for March? N

Multiple cash budgets-Scenario analysis Brownstein, Inc., expects sales of $96,000 during each of the next 3 months. It will make monthly purchases of $58,000 during this time. Wages and salaries are $12,000 per month plus 6% of sales. Brownstein expects to make a tax payment of $17,000 in the next month and a $20,000 purchase of fixed assets in the second month and to receive $8,000 in cash from the sale of an asset in the third month. All sales and purchases are for cash. Beginning cash and the minimum cash balance are assumed to be zero. a. Construct a cash budget for the next 3 months. b. Brownstein is unsure of the sales levels, but all other figures are certain. If the most pessimistic sales figure is $77,000 per month and the most optimistic is $124,000 per month, what are the monthly minimum and maximum ending cash balances that the firm can expect for each of the 1-month periods? c. Briefly discuss how the financial manager can use the data in parts a. and b. to plan for…

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Prepare a sales budget for 2 quarters Exercise 1 Trusler Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The sell for calculators $14.00 and $26.00 Trespectively. Because of the intense competition Trusler faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2022 are as follows. Unit Sales Quarter 2 26,000 Product Quarter 1 ХО-103 21,000 ХО-104 13,000 16,000 No changes in selling prices are anticipated. Instructions: Prepare a sales budget for the 2 quarters ending June 30, 2022 using the below budget table. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total. TRUSLER ELECTRONICS INC. Sales Budget For the Six Months Ending June 30, 2020 Quarter 1 Quarter 2 Six Months Product Selling Units Selling Price Total Sales Units Selling Price Total Sales Units Total Sales Price ХО-103 ХО-104 Totals