Accounting

Read Marsh exclusively et al., Chapters 14-16, and complete written responses to the following exercises and problems implant at the end of the assigned chapters in the text:

Chapter 14: pp. 564-573

E14.1 Production and purchases budgets. Gold Metal Productions, Inc., makes award medallions that atomic number 18 inclined to ribbons. Each medallion requires 18 inches of ribbon. The sales forecast for July is 4,000 medallions. Estimated root word inventories and desired ending inventories for July atomic number 18:

Estimated Beginning Inventory want Ending Inventory
Medallions …………. 2,000 1,600
Ribbon (yards) …...... 100 40

Required:

a. Calculate the list of medallions to be produced in July.

Goods for sale = 4000 + 1600 = 5600 medallions
Production = 5600 2000 = 3600 medallions (to be produced in July)

b. Calculate the number of yards of ribbon to be purchased in July.
Materials getable = 1800 + 40 = 1840 yards of ribbon
Purchases = 1840 100 (beginning inventory) = 1740 yards of ribbon to be purchased in
July

E14.5 Cash pass along budget. Columbia Centers sales are all made on account. The firms collection ingest has been that 25% of a months sales are collected in the month the sale is made, 60% are collected in the month following the sale, and 14% are collected in the second month following the sale. The sales forecast for the months of January through April is:

January …………………………………………………………….



$120,000
February ……………………………………………………………$140,000
shew ……………………………………………………………… $150,000
April ………………………………………………………………...$175,000

Required:

Calculate the money collection that would be included in the cash budgets for March and April.
Projected Sales: January $120,000February $140,000March $150,000 April $175,000

|Cash |March |April |
|25% current month...If you want to get a full essay, send it on our website: Ordercustompaper.com



If you want to get a full essay, wisit our page: write my paper