a)
SCHEDULE OF EXPECTED CASH COLLECTIONS | ||
November | December | |
Beginning accounts receivable | 83000 | |
November sales | 330000*85%=280500 | 330000*15%= 49500 |
December sales | 300000*85%= 255000 | |
Total cash collections | 363500 | 304500 |
b)
MERCHANDISE PURCHASE BUDGET | |||
NOVEMBER | DECEMBER | JANUARY | |
Estimated sales | 330000 | 300000 | 320000 |
% of cost of goods sold | 60% | 60% | 60% |
cost of goods sold |
330000*60%= 198000 |
180000 | 192000 |
Desired ending inventory | 180000*80%= 144000 | 192000*80%=153600 | |
Less:beginning inventory | -158400 | -144000 | |
Estimated purchase | 183600 | 189600 |
c)
CASH BUDGET | ||
November | December | |
Beginning cash Balance | 22000 | 168300 |
Cash collections during the month | 363500 | 304500 |
Total cash available fro disbursement | 385500 | 472800 |
less | ||
Payment to suppliers | -196000 | -183600 |
other cash expense | -21200 | -21200 |
Total cash disbursement | -217200 | -204800 |
cash balance at end | 168300 | 268000 |
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $350,000 for November, $370,000 for December, and $360,000 for January. Collections are expected to be 80% in the month of sale and 20% in the month following the sale. The cost of goods sold is 69% of sales. The company desires an ending merchandise inventory equal to 80% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operation:s follow: . Sales are budgeted at $350,000 for November, $370,000 for December, and $360,000 for January. . Collections are expected to be 80% in the month of sale and 20% in the month following the sale · The cost of goods sold is 72% of sales * The company desires an ending merchandise inventory equal to 80% of the cost of goods sold...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: • Sales are budgeted at $370,000 for November, $390,000 for December, and $380,000 for January • Collections are expected to be 80% in the month of sale and 20% in the month following the sale. • The cost of goods sold is 74% of sales. • The company desires an ending merchandise inventory equal to 80% of the cost of goods sold...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $360,000 for November, $380,000 for December, and $370,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $380,000 for November, $400,000 for December, and $390,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 72% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $360,000 for November, $380,000 for December, and $370,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $380,000 for November, $400,000 for December, and $390,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 72% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $390,000 for November, $410,000 for December, and $400,000 for January. Collections are expected to be 80% in the month of sale and 20% in the month following the sale. The cost of goods sold is 73% of sales. The company desires an ending merchandise inventory equal to 80% of the cost of goods sold in the following month....
TB Problem Qu. 8-224 Weller Industrial Gas Corporation ... Weller industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow. • Sales are budgeted at $340,000 for November. $360,000 for December, and $350,000 for January • Collections are expected to be 75% in the month of sale and 25% in the month following the sale. • The cost of goods sold is 68% of sales. • The company desires an ending merchandise Inventory...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: • Sales are budgeted at $320.000 for November. $340,000 for December, and $330,000 for January Collections are expected to be 70% in the month of sale and 30% in the month following the sale. • The cost of goods sold is 75% of sales. • The company desires an ending merchandise inventory equal to 75% of the cost of goods sold in...