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1) Sales Budget with expected Cash Collections All sales are on account. The company collects 60% in month of sale and 35% in the following month. The remaining 5% is uncollectable. March 31 AR is 40,000 and all is collectable Month of sale Collections Following month collections 60% 35% Sales Budget April 40,000 May 30,000 Budgeted sales in units Times selling price per unit Budgeted sells in dollars Schedule of Cash Collections April May AR March 31 Balance $ 40,000 June 20,000 June Quarter 90,000 Quarter

1) Sales Budget with expected Cash Collections All sales are on account. The company collects 60% in month of sale and 35% in the following month. The remaining 5% is uncollectable. March 31 AR is 40,000 and all is collectable Month of sale Collections Following month collections 60% 35% Sales Budget April 40,000 May 30,000 Budgeted sales in units Times selling price per unit Budgeted sells in dollars Schedule of Cash Collections April May AR March 31 Balance $ 40,000 June 20,000 June Quarter 90,000 Quarter

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...
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Budgeted sales are expected to be: April May June July August Selling Price $20 Per unit Prepare the Budgets for second quarter!! 1) Sales Budget with expected Cash Collections All sales are on account. The company collects 60% in month of sale and 35% in the following month. The remaining 5% is uncollectable. March 31 AR is 40,000 and all is collectable 60% Month of sale Collections Following month collections 35% Sales Budget June April 40,000 May 30,000 Budgeted sales in units Times selling price per unit Budgeted sells in dollars Schedule of Cash Collections April May AR $ 40,000 March 31 Balance April Sales May Sales June Sales Total Cash Collections 40,000 Units 30,000 Units 20,000 Units 35,000 Units 30,000 Units 20,000 June Quarter 90,000 Quarter
Transcribed Image Text:Budgeted sales are expected to be: April May June July August Selling Price $20 Per unit Prepare the Budgets for second quarter!! 1) Sales Budget with expected Cash Collections All sales are on account. The company collects 60% in month of sale and 35% in the following month. The remaining 5% is uncollectable. March 31 AR is 40,000 and all is collectable 60% Month of sale Collections Following month collections 35% Sales Budget June April 40,000 May 30,000 Budgeted sales in units Times selling price per unit Budgeted sells in dollars Schedule of Cash Collections April May AR $ 40,000 March 31 Balance April Sales May Sales June Sales Total Cash Collections 40,000 Units 30,000 Units 20,000 Units 35,000 Units 30,000 Units 20,000 June Quarter 90,000 Quarter
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