Homework Answers
Answer- Cash collection for January =$118000
February=$158000
Explanation- Cash collection for January = $60000+($100000*40%)+ ($100000*60%*30%)
= $60000+$40000+$18000
= $118000
Cash collection for February = =($200000*40%)+($200000*60%*30%)+($100000*60%*70%)
= $80000+$36000+$42000
= $158000
Answer- The budgeted cost of goods sold for each month-
January = $100000*60% =$60000
February =$200000*60%= $120000
March =$250000*60%= $150000
Answer- Gross profit for each month-
January = $100000*(100%-70%) =$30000
February =$200000*(100%-70%)= $60000
March =$250000(100%*70%)= $75000
Answer-Budgeted cost of goods sold for January = Sales units*Cost per unit sold units
= ($140000/$10 per unit)*$6 per unit
= 14000 units*$6 per unit
= $84000
Answer- Budgeted sales for each month- Cost of goods sold /Cost of goods sold % of sales
January = $80000/40% = $200000
February = $120000/40%= $300000
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