Question

No. 2: Master Budget #2. A Cyber Security Systems had sales of 3,500 units at $75...

No. 2: Master Budget

#2. A

Cyber Security Systems had sales of 3,500 units at $75 per unit last year. The marketing manager projects a 30 percent increase in unit volume sales this year with a 40 percent price increase. Returned merchandise will represent 8 percent of total sales.

What is your net dollar SALES PROJECTION for this year?

#2. B

Sales for Ross Pro’s Sports Equipment are expected to be 4,800 units for the coming month. The company likes to maintain 10 percent of unit sales for each month in ending inventory. Beginning inventory is 300 units.

How many units should the firm produce for the coming month?   

(Production requirements)

#2. C

J. Dot’s Clothiers has forecast credit sales for the fourth quarter of the year as:

September (actual)............................         $70,000

Fourth Quarter

October.............................................         $60,000

November.........................................           55,000

December..........................................           80,000

Experience has shown that 30 percent of sales are collected in the month of sale, 60 percent in the following month, and 10 percent are never collected.

Prepare a schedule of CASH RECEIPTS for J. Dot’s Clothiers covering the fourth quarter (October through December).

No. 3: Quality Management

Elaborate the role of Quality and Quality Management in Strategic Cost and Profit Management especially while taking competitive advantage in strategies management.

Requirement:

Brief report on the requirement with referenced information to avoid plagiarism.

Homework Answers

Answer #1
2.A) Budgeted units to be sold this year 4550 (3500 x 130%)
Selling Price per unit this year $        105.00 ($ 75 x 140%)
Budgeted Total Sales $ 477,750.00
Budgeted Returned Merchandise (8%) $   38,220.00
Net Sales $ 439,530.00
2.B) Schedule of Production
Particulars Units
Sales in units 4800
Add: Desired ending inventory 480
Less: Beginning inventory 300
Production required 4980
2.C) Schedule of Cash Receipts
Particulars October November December
Budgeted sales $ 60,000.00 $ 55,000.00 $ 80,000.00
Collection for the month of:
September $ 42,000.00
October $ 18,000.00 $ 36,000.00
November $ 16,500.00 $ 33,000.00
December $ 24,000.00
Total Collections $ 60,000.00 $ 52,500.00 $ 57,000.00
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Davies shows the following information for the Sales Budget for next quarter: Month            Units           Sales January    
Davies shows the following information for the Sales Budget for next quarter: Month            Units           Sales January           10,000      $200,000 February        30,000      $600,000 March             40,000      $800,000 Requirement 1: Assume Davies plans to begin January with 2,000 units and requires ending inventory to be equal to 20% of next month's sales. Compute the required number of units to be produced in February. Show your computations. Requirement 2: Assume each unit requires .4 hours of labor costing $15.00 per hour. Compute the Direct Labor...
Sales for Ross Pro’s Sports Equipment are expected to be 57,000 units for the coming month....
Sales for Ross Pro’s Sports Equipment are expected to be 57,000 units for the coming month. The company likes to maintain 15 percent of unit sales for each month in ending inventory. Beginning inventory is 17,000 units. How many units should the firm produce for the coming month?   
XYZ Corporation is preparing a master budget for 2018. Sales for the year are expected to...
XYZ Corporation is preparing a master budget for 2018. Sales for the year are expected to total 1,000,000 units. Quarterly sales in units are 20%,25%,30%, and 25% respectively. The sales price is expected to be $50 per unit for the first 3 quarters and $55 per unit beginning in the fourth quarter. Sales in the first quarter of 2018 are expected to be 10% higher than the budgeted sales volume for the first quarter of 2017. Cash collections from sales...
Okay Company is preparing to build its master budget. The budget will detail each quarter’s activity...
Okay Company is preparing to build its master budget. The budget will detail each quarter’s activity and the activity for the year in total. The master budget will be based on the following information: a. This will be the first year of operation for Okay Company. b. Budgeted unit sales by quarter for 2019 are projected as follows: First quarter 6,500, Second quarter 6,000, Third quarter 6,100 & Fourth quarter 6,250. First and second quarter 2020 budgeted sales units is...
1 Master budget                                        
1 Master budget                                                                                                                                   60 points ABC Company requests you to prepare a budget for the third quarter ending September 30 2020. You are required to prepare the following budgets: Sales Sales receipt schedule Production Purchases Materials payment schedule Labor Overheads General admin and selling Capital Cash Sales Budget Budgeted sales of the company's product for the month of June was 28,000 units at $5/unit: It is anticipated that sales units will grow by 5% monthly from the previous month's...
JC Floor Design makes ceramic tiles December sales were: 500,000 units Selling price $2 per unit...
JC Floor Design makes ceramic tiles December sales were: 500,000 units Selling price $2 per unit 1,000,000 total sales The Marketing Department, projects sales to: increase by 5% in January      February sales will be 15,000 units less than January March sales will be 3% higher than February sales April sales will be the 5,300 units less than march The price is not expected to increase JC inventory policy is to maintain an ending inventory equals to 30% of next month...
Dalton Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Dalton Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Dalton ​Manufacturing's operations: Current Assets as of December 31 (prior year): Cash. . . . . . . . . . . . . . . . . . . . . . . . . . .$4,460 Accounts receivable, net. . . . . . . . . . . $48,000 Inventory. . . . . . . ....
At the beginning of September, L Company had 1,600 finished goods units. Budgeted sales for October,...
At the beginning of September, L Company had 1,600 finished goods units. Budgeted sales for October, November, December, and January are 8,400 units and 10,200 units and 13,600 units and 7,400 units respectively. L Company wants to have sufficient units on hand at the end of each month to meet 20 percent of the following month’s budgeted sales. Prepare a Production Budget with columns for October, November, December and Total 4th Quarter.
Evergreen Corporation is preparing the master budget for the third quarter ending March 31, 2009.  It sells...
Evergreen Corporation is preparing the master budget for the third quarter ending March 31, 2009.  It sells a single product for $20 a unit.  Sales are 25% cash and 75% credit.  The credit sales are collected 30% in the month of the sale and the remaining 70% is collected in the next month.  No credit sales occurred in December 2008. The December 31 inventory of finished goods is 15,000 units and projected sales are 20,000, 55000, 65,000, 75,000, and 85,000 units for the first  months...
A company is formulating its marketing expense budget for the last quarter of the year. Sales...
A company is formulating its marketing expense budget for the last quarter of the year. Sales in units for the third quarter amounted to 3,400; sales volume for the fourth quarter is expected to increase by 10%. Variable marketing expense per unit sold amount to approximately $0.15, paid in cash in month of sale. Fixed marketing expense per month amount to $8,500 of salaries, $3,750 of depreciation (delivery trucks), and $1,700 of insurance (paid monthly). a. What is the total...