The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget:

Requirement 2:

The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget:  

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a. What are the total expected cash collections for the year under this revised budget?

Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix, one of the company’s products. The company now is planning raw materials needs for the third quarter, the quarter in which peak sales of Supermix occur. To keep production and sales moving smoothly, the company has the following inventory requirements:

The finished goods inventory on hand at the end of each month must equal 2,000 units of Supermix plus 20% of the next month’s sales. The finished goods inventory on June 30 is budgeted to be 10,600 units.

The raw materials inventory on hand at the end of each month must equal one-half of the following month’s production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 66,000 cc of solvent H300.

The company maintains no work in process inventories.

A monthly sales budget for Supermix for the third and fourth quarters of the year follows.

Required:

1. Prepare a production budget for Supermix for the months July, August, September, and October.

3. Prepare a direct materials budget showing the quantity of solvent H300 to be purchased for July, August, and September, and for the quarter in total.

Prepare a direct materials budget showing the quantity of solvent H300 to be purchased for July, August, and September, and for the quarter in total.

The sales budget for your company in the coming year is based on a quarterly growth rate of 10 percent with the first-quarter sales projection at $225.9 million. In addition to this basic trend, the seasonal adjustments for the four quarters are 0, −$16.9, −$8.9, and $21.9 million, respectively. Generally, 50 percent of the sales can be collected within the quarter and 45 percent in the following quarter; the rest of the sales are bad debt. The bad debts are written off in the second quarter after the sales are made. The beginning accounts receivable balance is $104.9 million. Assuming all sales are on credit, compute the cash collections from sales for each quarter. (Enter your answers in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

The sales budget for your company in the coming year is based on a quarterly growth rate of 10 percent with the first-quarter sales projection at $165 million. In addition to this basic trend, the seasonal adjustments for the four quarters are 0, −$12, −$6, and $18 million, respectively. Generally, 50 percent of the sales can be collected within the quarter and 45 percent in the following quarter; the rest of the sales are bad debt. The bad debts are written off in the second quarter after the sales are made. The beginning accounts receivable balance is $84 million. Assuming all sales are on credit, compute the cash collections from sales for each quarter. Enter your answers in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and shows all the formula and steps.

Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handisaw. Each handisaw sells for $70. Wesley expects the following unit sales:

Wesley’s ending finished goods inventory policy is 35 percent of the next month’s sales.
      Suppose each handisaw takes approximately .45 hours to manufacture, and Wesley pays an average labor wage of $16.50 per hour.
      Each handisaw requires a plastic housing that Wesley purchases from a supplier at a cost of $7.00 each. The company has an ending raw materials inventory policy of 10 percent of the following month’s production requirements. Materials other than the housing unit total $4.00 per handisaw.
      Manufacturing overhead for this product includes $66,000 annual fixed overhead (based on production of 24,000 units) and $.80 per unit variable manufacturing overhead. Wesley’s selling expenses are 7 percent of sales dollars, and administrative expenses are fixed at $16,000 per month.

Required:
2. Compute the budgeted selling and administrative expenses.

3. Complete the budgeted income statement for the handisaw product for the first quarter. (Round direct material, direct labor and overhead costs per unit to 2 decimal places. Round final answers to the nearest dollar

amount.)

Listed below are student evaluation ratings of​ courses, where a rating of 5 is for​ "excellent." The ratings were obtained at one university in a state. Construct a confidence interval using a 95​% confidence level. What does the confidence interval tell about the population of all college students in the​ state? 3.8​, 2.9​, 3.9​, 4.7​, 2.9​, 4.3​, 3.6​, 4.8​, 4.6​, 4.2​, 4.1​, 3.8​, 3.2​, 4.1​, 3.8 What is the confidence interval for the population mean u​?

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Question: QUESTION 11 The taxing and spending policies of the Federal Government designed to promote nati...

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QUESTION 11

1. The taxing and spending policies of the Federal Government designed to promote national ecomomic goals are known as "fiscal policy."

   True

   False

3 points   

QUESTION 12

1. Most states exempt their own municipal securities from their own state and local taxes.

   True

   False

3 points   

QUESTION 13

1. Firm commitment underwriting is performed by an investment bank that has guaranteed the issuer a sum of money that will be raised by an Initial Public Offering

   True

   False