Raysun Inc, Sells micro solar panels for $1.99 each. The marketing department prepared the following semiannual...
Raysun Inc, Sells micro solar panels for $1.99 each. The marketing department prepared the following semiannual forecast:
January 30,000 panels
February . 38,000 panels
March 39,000 panels
April . 41,000 panels
May 43,000 panels
June 49,000 panels
Over the past few years Raysun Inc. has collected 25% of sales in the month of sale. 60 % in the month following the month of sale 14% in the second month following month of sale.
Required:
A. Prepare a monthly sale budgets for January through June. Includes a total column.
B. Prepare a monthly cash receipts budget for the second quarter (April, May and June). Include a total column.
Homework Answers
Answer 1 Monthly sales budget
| Raysun Inc | |||||||
| Sales Budget | |||||||
| For the first Half from January through June | |||||||
| Sales Budget | January | February | March | April | May | June | Total |
| Sales In Units | 30000 | 38000 | 39000 | 41000 | 43000 | 49000 | 240000 |
| Sale on Account @ 1.99 | $ 59,700 | $ 75,620 | $ 77,610 | $ 81,590 | $ 85,570 | $ 97,510 | $ 477,600 |
Answer 2 Cash Receipts budget for April, May and June
| Raysun Inc | ||||
| Monthly Cash Receipts Budget | ||||
| April | May | June | Total | |
| From February Sale | $ 10,586.80 | 0 | 0 | $ 10,586.80 |
| From March Sale | $ 46,566.0 | $ 10,865.40 | 0 | $ 57,431.40 |
| From April Sale | $ 20,397.50 | $ 48,954.0 | $ 11,422.60 | $ 80,774.10 |
| From May Sale | 0 | $ 21,392.50 | $ 51,342.0 | $ 72,734.50 |
| From June Sale | 0 | 0 | $ 24,377.50 | $ 24,377.50 |
| Total Collections from Customers | $ 77,550.30 | 81211.9 | 87142.1 | $ 245,904.30 |
All above Calculations are based on followings
| Collections in April | ||
| From February Sale | =75620*14% | $ 10,586.80 |
| From March Sale | =77610*60% | $ 46,566.00 |
| From April Sale | =81590*25% | $ 20,397.50 |
| Collection in May | ||
| From March Sale | =77610*14% | $ 10,865.40 |
| From April Sale | =81590*60% | $ 48,954.00 |
| From May Sale | =85570*25% | $ 21,392.50 |
| Collection in June | ||
| From April Sale | =81590*14% | $ 11,422.60 |
| From May Sale | =85570*60% | $ 51,342.00 |
| From June Sale | =97510*25% | $ 24,377.50 |
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