make an entry on an excel sheet and answer some questions ACCT Project/Screenshot 2024-11-26 at 1.21.08 PM.png __MACOSX/ACCT

make an entry on an excel sheet and answer some questions

ACCT Project/Screenshot 2024-11-26 at 1.21.08 PM.png

__MACOSX/ACCT Project/._Screenshot 2024-11-26 at 1.21.08 PM.png

ACCT Project/Chapter_8_Applying_Excel_Student_Form.xls

Chapter 8 Form

Chapter 8: Applying Excel
Data Year 2 Quarter Year 3 Quarter
1 2 3 4 1 2
Budgeted unit sales 40,000 60,000 100,000 50,000 70,000 80,000
• Selling price per unit $8 per unit
• Accounts receivable, beginning balance $65,000
• Sales collected in the quarter sales are made 75%
• Sales collected in the quarter after sales are made 25%
• Desired ending finished goods inventory is 30% of the budgeted unit sales of the next quarter
• Finished goods inventory, beginning 12,000 units
• Raw materials required to produce one unit 5 pounds
• Desired ending inventory of raw materials is 10% of the next quarter’s production needs
• Raw materials inventory, beginning 23,000 pounds
• Raw material costs $0.80 per pound
• Raw materials purchases are paid 60% in the quarter the purchases are made
and 40% in the quarter following purchase
• Accounts payable for raw materials, beginning balance $81,500
Enter a formula into each of the cells marked with a ? below
Review Problem: Budget Schedules
Construct the sales budget Year 2 Quarter Year 3 Quarter
1 2 3 4 1 2
Budgeted unit sales ? ? ? ? ? ?
Selling price per unit ? ? ? ? ? ?
Total sales ? ? ? ? ? ?
Construct the schedule of expected cash collections Year 2 Quarter
1 2 3 4 Year
Accounts receivable, beginning balance ? ?
First-quarter sales ? ? ?
Second-quarter sales ? ? ?
Third-quarter sales ? ? ?
Fourth-quarter sales ? ?
Total cash collections ? ? ? ? ?
Construct the production budget Year 2 Quarter Year 3 Quarter
1 2 3 4 Year 1 2
Budgeted unit sales ? ? ? ? ? ? ?
Add desired finished goods inventory ? ? ? ? ? ?
Total needs ? ? ? ? ? ?
Less beginning inventory ? ? ? ? ? ?
Required production ? ? ? ? ? ?
Construct the raw materials purchases budget Year 2 Quarter Year 3 Quarter
1 2 3 4 Year 1
Required production (units) ? ? ? ? ? ?
Raw materials required to produce one unit ? ? ? ? ? ?
Production needs (pounds) ? ? ? ? ? ?
Add desired ending inventory of raw materials (pounds) ? ? ? ? ?
Total needs (pounds) ? ? ? ? ?
Less beginning inventory of raw materials (pounds) ? ? ? ? ?
Raw materials to be purchased ? ? ? ? ?
Cost of raw materials per pound ? ? ? ? ?
Cost of raw materials to be purchased ? ? ? ? ?
Construct the schedule of expected cash payments Year 2 Quarter
1 2 3 4 Year
Accounts payable, beginning balance ? ?
First-quarter purchases ? ? ?
Second-quarter purchases ? ? ?
Third-quarter purchases ? ? ?
Fourth-quarter purchases ? ?
Total cash disbursements ? ? ? ? ?
&F
Page &P

__MACOSX/ACCT Project/._Chapter_8_Applying_Excel_Student_Form.xls

ACCT Project/Screenshot 2024-11-26 at 1.22.22 PM.png

__MACOSX/ACCT Project/._Screenshot 2024-11-26 at 1.22.22 PM.png

ACCT Project/Screenshot 2024-11-26 at 1.22.34 PM.png

__MACOSX/ACCT Project/._Screenshot 2024-11-26 at 1.22.34 PM.png

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions