Question
In: Accounting
Your job is to create the following documents: Cash Budget (per quarter) Beginning cash balance Collections...
Your job is to create the following documents:
Cash Budget (per quarter)
Beginning cash balance
Collections in quarter of sale
Collections in quarter following sale
Total cash available
Payments in quarter of purchase
Payments in quarter following purchase
Direct labor
Overhead
Selling and Administrative expense
Equipment purchases
Dividends
Total Cash Disbursements
Net cash balance
Minimum cash balance
Excess (Deficiency) of cash
Cash balance before interest on balance
Interest earned on cash balance
Cash balance after interest on balance
| Diesel Dynamo Company | ||||||
| Budget Project | ||||||
| Fall 2017 | ||||||
| INPUT SECTION | ||||||
| SALES | ||||||
| 4th | 1st | 2nd | 3rd | 4th | ||
| Quarter | Quarter | Quarter | Quarter | Quarter | ||
| 2017 | 2018 | 2018 | 2018 | 2018 | ||
| Budgeted Sales in units | 43,000 | 37,900 | 34,500 | 31,000 | 43,000 | |
| Budgeted Selling Price | $530 | per production unit (Finished Good) | ||||
| RECEIVABLES | ||||||
| Receivables Collection Schedule | 91.50% | quarter of sale | ||||
| 5.50% | quarter following sale | |||||
| 3.00% | uncollectible | |||||
| 100.00% | ||||||
| Policy | Entire projected uncollectible receivables are written off each quarter | |||||
| INVENTORY COSTS | ||||||
| Direct Labor | 4.5 | hours | ||||
| $19.50 | per direct labor hour | |||||
| Raw Materials | 3 | direct material units per finished good production unit | ||||
| $85.00 | per raw material unit | |||||
| Variable Overhead | $9.50 | per Direct Labor Hour | ||||
| Fixed Overhead | ||||||
| Depreciation | $304,000 | per quarter | ||||
| Other Fixed Overhead | $950,000 | per quarter | ||||
| Fixed Overhead Application Rate | CALCULATE FROM PRODUCTION BUDGET | |||||
| INVENTORY ACCOUNTS | ||||||
| 4th | 1st | 2nd | 3rd | 4th | ||
| Ending Finished Goods Inventory | Quarter | Quarter | Quarter | Quarter | Quarter | |
| in units | 0 | 15,000 | 19,000 | 20,000 | 15,000 | |
| Raw Materials Inventory | ||||||
| Beginning Inventory 1/1/2018 | 28,436 | units |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
A company is preparing their 4th quarter cash summary budget. Based on their beginning cash balance...
A company is preparing their 4th quarter cash summary
budget.
Based on their beginning cash balance and anticipated cash
receipts and cash disbursements (payments), here are the ending
cash balances initially planned each month. The
balances shown below are BEFORE any borrowing of money or repayment
of loans and interest.
Management wants to keep a minimum cash balance of $20,922.
Therefore, they will clearly need to borrow money in November.
Luckily, December looks like a good month and they will have...
Your job is to create the following: Overhead budget (for each quarter): Variable Overhead Rate ($/hr)...
Your job is to create the following:
Overhead budget (for each quarter):
Variable Overhead Rate ($/hr)
Budgeted Variable Overhead
Budgeted fixed overhead without depreciation
Depreciation
Total Overhead
Selling & Administrative Budget (for each
quarter)
Planned sales in dollars
Variable S & A rate (per unit sold)
Variable S & A Expense
Fixed S & A Expense without depreciation
Depreciation
Total S & A Expense
Diesel Dynamo Company
Budget Project
Fall 2017
INPUT SECTION
SALES
4th
1st
2nd
3rd
4th
Quarter...
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Patricia’s housekeeping company has the following data projected
for June. Beginning cash balance $24,500 Cash collections from
customers 36,200 Cash disbursements 54,300 Patricia wants to
maintain a cash balance of $10,000 or more. Any amount below this
can be borrowed from a local bank as needed in increments of
$1,000. All borrowings are made at month end. In Patricia's cash
budget for June, how much money will Patricia need to borrow at
month end? A. $6,000 B. $5,000 C. $7,000...
Building the Master Budget involve: The Sales Budget. The Production Budget Expected Cash Collections Budget The...
Building the Master Budget involve:
The Sales Budget.
The Production Budget
Expected Cash Collections Budget
The Direct Materials Budget
Expected Cash Disbursement Budget
The Direct Labor Budget
Manufacturing Overhead Budget
Ending Finished Goods Inventory Budget
Selling and Administrative Expense Budget
The Cash Budget
The Budgeted Income Statement
The Budgeted Balance Sheet
Full Explanations
Arakaki Inc. is working on its cash budget for January. The budgeted beginning cash balance is...
Arakaki Inc. is working on its cash budget for January. The budgeted beginning cash balance is $41,000. Budgeted cash receipts total $114,000 and budgeted cash disbursements total $113,000. The desired ending cash balance is $60,000. How much will be the excess (deficiency) of cash available over disbursements for January?
A. $1,000 B. $155,000 C. $42,000 D. $40,000
Problem 18-10 Calculating Cash Collections The following is the sales budget for Shleifer, Inc., for the...
Problem 18-10 Calculating Cash Collections
The following is the sales budget for Shleifer, Inc., for the
first quarter of 2017:
January
February
March
Sales budget
$
215,000
$
235,000
$
258,000
Credit sales are collected as follows:
55 percent in the month of the sale.
30 percent in the month after the sale.
15 percent in the second month after the sale.
The accounts receivable balance at the end of the previous quarter
was $99,000 ($69,000 of...
Below is the abbreviated cash budget for DEF Pty Ltd. Beginning Cash Balance Estimated Cash Receipts...
Below is the abbreviated cash budget for DEF Pty Ltd.
Beginning Cash Balance
Estimated Cash Receipts
34,000
Cash Available
39,000
Estimated Cash Payments
Purchases
Operating Expenses
13,000
Payment of Dividend
10,000
Total Estimated Cash Payments
Ending Cash Balance
-4,000
(a) Calculate the amount of Beginning Cash Balance,
Purchases, and Total Estimated Cash Payments.
(b) What action if any should DEF Pty Ltd take as a
result of preparing this budget? Briefly justify your
answer.
Below is the abbreviated cash budget for ABC Pty Ltd. Beginning Cash Balance 50,000 Estimated Cash...
Below is the abbreviated cash budget for ABC Pty Ltd.
Beginning Cash Balance
50,000
Estimated Cash Receipts
Cash Available
390,000
Estimated Cash Payments
Purchases
210,000
Operating Expenses
Office Equipment Purchases
50,000
Total Estimated Cash Payments
Ending Cash Balance
40,000
(a) Calculate the amount of Estimated
Cash Receipts, Operating Expenses, and Total Estimated Cash
Payments.
(b) What action if any should ABC Pty
Ltd take as a result of preparing this budget? Briefly justify your
answer.
Below is the abbreviated cash budget for DEF Pty Ltd. Beginning Cash Balance Estimated Cash Receipts...
Below is the abbreviated cash budget for DEF Pty Ltd.
Beginning Cash Balance
Estimated Cash Receipts
34,000
Cash Available
39,000
Estimated Cash Payments
Purchases
Operating Expenses
13,000
Payment of Dividend
10,000
Total Estimated Cash Payments
Ending Cash Balance
-4,000
(a) Calculate the amount of Beginning Cash Balance,
Purchases, and Total Estimated Cash Payments.
(b) What action if any should DEF Pty Ltd take as a
result of preparing this budget? Briefly justify your answer.
Walsh Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,000....
Walsh Corporation is preparing its cash budget for January. The
budgeted beginning cash balance is $18,000. Budgeted cash receipts
total $183,000 and budgeted cash disbursements total $188,000. The
desired ending cash balance is $30,000. The excess (deficiency) of
cash available over disbursements for January is: Select one: a.
23,000 b. $13,000 c. $201,000 d. ($5,000)
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