Homework Answers
Answer-1)-
| ROVNIAK REEDS | ||||
| SALES BUDGET | ||||
| FOR THE FOUR MONTHS ENDED JANUARY | ||||
| Particulars | OCTOBER | NOVEMBER | DECEMBER | JANUARY |
| Projected monthly sales $ (a) | 900000 | 964000 | 1055000 | 938000 |
| Cash sales (b= 30%*a) | 270000 | 289200 | 316500 | 281400 |
| Credit Sales (70%*a) | 630000 | 674800 | 738500 | 656600 |
| Total Sales $ | 900000 | 964000 | 1055000 | 938000 |
2)-
| ROVNIAK REEDS | ||
| Schedule of Collections from sales | ||
| For the December & January | ||
| Particulars | DECEMBER | JANUARY |
| Cash sales (a) $ | 316500 | 281400 |
| Credit Sales $ | 738500 | 656600 |
| Cash Collection | ||
| October sale collection | ($900000*70%)*14%= 126000 | 0 |
| November sale collection | ($964000*70%)*65%= 438620 | ($964000*70%)*14%= 94472 |
| December sale collection | $738500*20%= 147700 | $738500*65%= 480025 |
| January sale collection | 0 | $656600*20%= 131320 |
| Total cash collections (b) | 712320 | 705817 |
| Total collection (c=a+b) | 1028820 | 987217 |
Add Answer to:
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Ahmed Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $896,000 in October, $960,000 in November, $1,055,000 in December, and $938,000 in January. Ahmed's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000 in October, $964,000 in November, $1,050,000 in December, and $926,000 in January. Trever's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Gustev Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000 in October, $964,000 in November, $1,060,000 in December, and $930,000 in January. Gustev's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 65% in the month after the sale 8% two months after the sale 2% are never collected Requirements 1. Prepare a sales budget for all...
Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000 in October, $964,000 in November, $1,050,000 in December, and $926,000 in January. Trever's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Ahmed Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be S902.000 in October, $962,000 in November, $1,030.000 in December, and $922,000 in January Ahmed's sales are 25 % cash and 75 % credt. The company's collection history indicates that credit sales are collected as folows 20% in the month of the sale 65% in the month after the sale 12% two months after the sale 3% are never collected Requirements 1. Prepare a sales budget...
Serdnic Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $896,000 in October, $966,000 in November, $1,045,000 in December, and $922,000 in January. Serdnic's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 8% two months after the sale 7% are never collected Requirements 1. Prepare a sales budget for all...
Serdnic Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $894,000 in October, $950,000 in November, $1,060,000 in December, and $920,000 in January. Serdnic's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Yung Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $892,000 in October, $958,000 in November, $1,030,000 in December, and $926,000 in January. Yung's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be 5894,000 in October, 5960,000 in November, $1,025,000 in December, and 5924,000 in January. Trover's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 145 two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Freddie Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $890,000 in October $956,000 in November $1,070,000 in December, and $936,000 in January Freddie's sales are 25% cash and 75% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 70% in the month after the sale 8% two months after the sale 2% are never collected Requirements 1. Prepare a sales budget for all...
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