Please provide a
1) Sales budget, including a schedule of expected cash collections.
2) Production budget.
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Kimmel Gnomes | Note | |||||
Sales Budget | First | Second | Third | Fourth | Total | |
Sales (units) | 44,000.00 | 82,000.00 | 42,000.00 | 76,000.00 | 244,000.00 | A |
Sell Price | 107.00 | 107.00 | 107.00 | 107.00 | B | |
Sales Budget | 4,708,000.00 | 8,774,000.00 | 4,494,000.00 | 8,132,000.00 | 26,108,000.00 | C=A*B |
Collection Budget | First | Second | Third | Fourth | Total | |
Sales Budget | 4,708,000.00 | 8,774,000.00 | 4,494,000.00 | 8,132,000.00 | 26,108,000.00 | See C |
Collection of Accounts receivable of June 30 | 1,230,000.00 | 1,230,000.00 | D= Taken from Balance Sheet | |||
75% collected in same month | 3,531,000.00 | 6,580,500.00 | 3,370,500.00 | 6,099,000.00 | 19,581,000.00 | E= C*75% |
25% collected in next month | 1,177,000.00 | 2,193,500.00 | 1,123,500.00 | 4,494,000.00 | F= 725% of C of previous month | |
Expected cash collections | 4,761,000.00 | 7,757,500.00 | 5,564,000.00 | 7,222,500.00 | 25,305,000.00 | G=D+E+F |
Production Budget | First | Second | Third | Fourth | Total | |
Sales (units) | 44,000.00 | 82,000.00 | 42,000.00 | 76,000.00 | 244,000.00 | See A |
Add: Desired Ending Inventory | 21,320.00 | 10,920.00 | 19,760.00 | 23,000.00 | H= 26% of A of next month. For Fourth quarter 23,000 units is given in the sum. | |
Total units needed | 65,320.00 | 92,920.00 | 61,760.00 | 99,000.00 | I= A+H | |
Less: Expected Beginning Inventory | - | 21,320.00 | 10,920.00 | 19,760.00 | J= 26% of A. For First quarter it is given the there is no finished goods inventory in the sum. | |
Production Budget | 65,320.00 | 71,600.00 | 50,840.00 | 79,240.00 | 267,000.00 | K=I-J |
Please provide a 1) Sales budget, including a schedule of expected cash collections. 2) Production budget....
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Please provide a 1) Budgeted income statement for the year ending June 30, 2019. 2) Budgeted balance sheet for June 30, 2019. We only need annual totals for the budgeted financial statements Kimmel Gnomes, located in South Dakota, may be the only other manufacturer of high quality clay garden gnomes that are hand finished. Kimmel Gnomes are stoneware, rather than terracotta. Stoneware uses higher-quality clay than terracotta and the gnomes are fired at higher temperature, yielding a stronger, more durable...
Our controller, Richard Kimmel is negotiating with potential new Clay suppliers in Kentucky. We need the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019 for our corporate strategic planning process, and we cannot wait for Richard’s return from Kentucky. We would like you to prepare the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019. The deliverables are as follows: 1. Sales budget, including a schedule of expected cash collections. 2....
Our controller, Richard Kimmel is negotiating with potential new Clay suppliers in Kentucky. We need the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019 for our corporate strategic planning process, and we cannot wait for Richard’s return from Kentucky. We would like you to prepare the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019. The deliverables are as follows: 1. Manufacturing overhead budget. 2. Ending finished goods inventory budget calculating...
Our controller, Richard Kimmel is negotiating with potential new Clay suppliers in Kentucky. We need the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019 for our corporate strategic planning process, and we cannot wait for Richard’s return from Kentucky. We would like you to prepare the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019. The deliverables are as follows: 1. Selling and administrative expense budget. 2. Cash budget. 3. Budgeted...
Given the following information, fill in the cash budget First Fourth $ $ $ Second Third 208,000 4,761,000 $ 7,757,500 $ 4,969,000 5,564,000 $ 7,222,500 $ $ 214,066 $ 2,939,400 $ 2,295,560 $ 681,000 $ 248,523 $ 225,845 3,222,000.00 $ 2,287,800.00 2,502,800 $ 1,817,720 1,213,000 $ 653,000 $ $ $ $ 248,334 3,565,800.00 2,754,920 1,129,000 $ 8. Cash Budget Beginning cash balance Add: Cash collections Total cash available Less: Cash disbursements Materials Direct Labor Manufacturing overhead Selling and administrative Equipment...
Our controller, Richard Kimmel is negotiating with potential new Clay suppliers in Kentucky. We need the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019 for our corporate strategic planning process, and we cannot wait for Richard’s return from Kentucky. We would like you to prepare the Large Gnome Division’s Master Budget for the fiscal year ended June 30, 2019. The deliverables are as follows: 1. Sales budget, including a schedule of expected cash collections. 2....
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