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Problem-1
ABC Company’s actual unit sales in the current year for January, February, and March was 16,700, 13,700, and 19,700 units, . Current year selling price is $60. An analysis of general economic trends and specific initiatives at ABC forecasts increases for the coming budget year: sales volume by 10% and sales price by 5%.
Required:
Prepare ABC Company’s budgeted unit sales and total sales volume for the first quarter of the coming year.
Problem-2
ABC Company’s budgeted sales for June, July, and August are 13,200, 17,200, and 15 ,200 units, respectively. ABC requires 25% of the months budgeted unit sales as finished goods inventory each month. Budgeted ending finished goods inventory for May is 3 300 units.
Required:
Calculate the number of units to be produced in June and July.
Problem-3
ABC Company’s budgeted sales for June, July, and August are 14,200, 18,200, and 16,200 units respectively. The following cost behavior patterns are budgeted for ABC Company’s operating expenses each month:
Fixed costs: salaries, $3,100; rent, $6,100; depreciation, $3,500; advertising, $4,300
Mixed costs: utilities, $4,100 + $0.60 per unit
Variable costs per unit sold: sales commissions. $3.10; marketing promotions, $2.10; supplies. $0.75: bad debt expense, $0.50
Required:
Prepare ABC Company’s operating expense budget for June, July, and August
Problem-4
ABC Company’s budgeted sales for June, July, and August are 13,800, 17,800, and 15,400 units respectively. The selling price for each unit is $12. Based on past experience, ABC expects that 25% of a month’s sales will be collected in the month of sale, 70% in the following month, and 2% in the second month following the sale.
Required:
Prepare an analysis of cash receipts from sales for ABC Company for August.
Problem-5
ABC Company’s raw materials purchases for June, July, and August are budgeted at $41,000, $31,000, and $56,000, respectively. Based on past experience, ABC expects that 40% of a month’s raw material purchases will be paid in the month of purchase and 60% in the month following the purchase.
Required:
Prepare an analysis of casl1 disbursements from raw materials purchases for ABC Company for August