Using the below information open an excel file and create a Sales Budget, a Cash Receipt...

Using the below information open an excel file and create a Sales Budget, a Cash Receipt Schedule and a Production Budget for Fiwrt for the months of Oct, Nov, and Dec. Make sure to use proper format including dollar signs and headers - this will count in the grade. Upload the excel file as your response.

Fiwrt Corporation manufactures and sells stainless steel coffee mugs. Expected mug sales (in units) are expected to be as follows: September – 32,000, October – 30,000, November – 36,000, December – 34,000, and January 35,000.

Selling Price is expected to be $8 per mug. 40% of sales are on account. All sales on account are collected in the following month. Fiwrt likes to maintain a finished goods inventory equal to 30% of the next month's estimated sales.

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Solution:

Sales Budget - Fiwrt
Particulars	October	November	December	Total
Sales units	30000	36000	34000	100000
Selling price per unit	$8.00	$8.00	$8.00	$8.00

Projected Sales Revenue	$240,000.00	$288,000.00	$272,000.00	$800,000.00

Schedule of expected cash collections
Particulars	October	November	December	Total
Cash sales (60%)	$144,000.00	$172,800.00	$163,200.00	$480,000.00
Collction of sales on account	$102,400.00	$96,000.00	$115,200.00	$313,600.00

Expected cash collections	$246,400.00	$268,800.00	$278,400.00	$793,600.00

Production Budget - Fiwrt
Particulars	October	November	December	Total
Sales units	30000	36000	34000	100000
Add: Desired ending inventory (30% of next month sales)	10800	10200	10500	10500
Less: Opening Inventory	9000	10800	10200	9000

Budgeted Production units	31800	35400	34300	101500

ekkarill92 answered 1 month ago

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