Answer number 11 to 26 only. GGG CompanyAssume that the firm is expecting to have the following quarterly unit sales with a price of P85:First QuarterSecond Quarter 5,500Third QuarterFourth Quarter5,0006,0006,50050% of which are collected at the same month and the remaining 30% will be collected next quarter andthe 20% on the next 2 quarters. Assume further that their ending inventory will be 25% of the nextquarter's units and for the fourth quarter they had 1,300 units left. There is an accounts receivablerecorded amounting to P350,000GGG CompanySales BudgetFor the Year Ended December 31, 2022QuarterTotal23,000851,955,00023Expected sales in unitsUnit Sales Price5,00085425,000Schedule of Expected Cash Collections5,50085467,5006,00085510,0006,50085552,500Total Sales123TotalAccounts ReccivableP350,000P350,000First Quarter 1.Second QuarterThird QuarterFourth QuarterTotal Cash Collection127,50085,0004.5.6.7.233,7502.93,5003.153,000276,250P522,750 10.8.P361,250 9.GGG CompanyProduction BudgetFor the Year Ended December 31, 2022Quarter1234TotalBudgeted Sales VolumeAdd: Desired Ending Inventory 11.5,0005,5006,0006,50023,00013.15.17.19.Units Available for Sale12.14.16.18.20.Less: Beginning InventoryRequired Production Units21.22.23.24.25.5,1255,6256,1256,17526.

Answered: Image /qna-images/answer/909f9802-9574-4732-9d24-cf6a5b5d330a.jpg

Answered: Answer number 11 to 26 only.

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 16E

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Similar questions

If the sales forecast estimates that 50,000 units of product will be sold during the following year, should the factory plan on manufacturing 50,000 units in the coming year? Explain.
A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and the remainder are credit sales. The company finds that typically 10 percent of a months credit sales are paid in the month of sale, 70 percent are paid the next month, and 15 percent are paid in the second month after sale. Expected cash receipts in July are budgeted at what amount? a. 114,520 b. 143,150 c. 145,720 d. 156,000
Refer to Cornerstone Exercises 2.2 and 2.3. Next year, Pietro expects to produce 50,000 units and sell 49,300 units at a price of 12.50 each. Beginning inventory of finished goods is 42,500, and ending inventory of finished goods is expected to be 34,000. Total selling expense is projected at 26,000, and total administrative expense is projected at 134,000. Required: 1. Prepare an income statement in good form. Be sure to include the percent of sales column. 2. What if the cost of goods sold percentage for the past few years was 65 percent? Explain how management might react.
Barnstormer sells airplane accessories for $20 each. It expects sales of 120,000 units in quarter 1 and a 7% increase each subsequent quarter for the next 8 quarters. Prepare a sales budget by quarter for the first year.
How many units are estimated to be sold if Kino, Inc., has planned production of 750,000 units, a desired beginning inventory of 30,000 units, and a desired ending inventory of 45,000 units?
Trumbull Co. plans to produce 100,000 toy cars during September. Planned production for October is 125,000 cars. Sales are forecasted at 90,000 toy cars for September and 120,000 toy cars for October. Each toy car requires four wheels. Trumbulls policy is to maintain 10 percent of the next months production in inventory at the end of a month. How many wheels should Tram bull purchase during September? a. 195,000 b. 112,500 c. 102,500 d. 410,000
One Device makes universal remote controls and expects to sell 500 units in January, 800 in February, 450 in March, 550 in April, and 600 in May. The required ending inventory is 20% of the next months sales. Prepare a production budget for the first four months of the year.
Macom Manufacturing has total contribution margin of $61,250 and net income of $24,500 for the month of June. Marcus expects sales volume to increase by 10% in July. What are the degree of operating leverage and the expected percent change in income for Macom Manufacturing? 0.4 and 10% 2.5 and 10% 2.5 and 25% 5.0 and 50%
How many units are in beginning inventory if 32,000 units are budgeted for sales, 35,000 units are produced, and the desired ending inventory is 9,000 units?
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