hello, help please tne following montn. ine accounts payapie for raw material purcnases is expected to be $148,122 on September 30, 2019.Required:a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of2019.OctoberNovemberDecemberTotalExpected sales in unitsSelling price per unitTotal salesb. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2019.Cash collections from:OctoberNovemberDecemberTotalSeptember salesOctober salesNovember salesDecember salesTotal cash collections Freese Inc. is in the process of preparing the fourth quarter budget for 2019, and the following data have been assembled:• The company sells a single product at a price of $59 per unit. The estimated sales volume for the next six months is as follows:September 16,900 units15,600 units18,200 units26,000 units11,700 units13,000 unitsOctoberNovemberDecemberJanuaryFebruary• All sales are on account. The company's collection experience has been that 30% of a month's sales are collected in the month ofsale, 68% are collected in the month following the sale, and 2% are uncollectible. It is expected that the net realizable value ofaccounts receivable (i.e., accounts receivable less allowance for uncollectible accounts) will be $678,028 on September 30, 2019.Management's policy is to maintain ending finished goods inventory each month at a level equal to 30% of the next month'sbudgeted sales. The finished goods inventory on September 30, 2019, is expected to be 4,680 units.• To make one unit of finished product, 5 pounds of materials are required. Management's policy is to havë enough materials on handat the end of each month to equal 40% of the next month's estimated usage. The raw materials inventory is expected to be 32,760pounds on September 30, 20019.• The cost per pound of raw material is $6, and 70% of all purchases are paid for in the month of purchase; the remainder is paid inthe following month. The accounts payable for raw material purchases is expected to be $148,122 on September 30, 2019.Required:a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (October, November, and December) of2019.OctoberNovemberDecemberTotalExpected sales in units

Sales Budget The sales budget is defined as the number of production units are sold in a specific…

Required: a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (UCEOBEI, 2019. October November December Total Expected sales in units Selling price per unit Total sales b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2019. Cash collections from: October November December Total September sales October sales November sales December sales Total cash collections

Required: a. Prepare a sales budget in units and dollars, by month and in total, for the fourth quarter (UCEOBEI, 2019. October November December Total Expected sales in units Selling price per unit Total sales b. Prepare a schedule of cash collections from sales, by month and in total, for the fourth quarter of 2019. Cash collections from: October November December Total September sales October sales November sales December sales Total cash collections

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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