Question

# --- Please Show excel formulas, thanks--- Shamu Corporation is in the process of preparing its budget...

--- Please Show excel formulas, thanks---

Shamu Corporation is in the process of preparing its budget for next year. Cost of goods sold has

been estimated at 60 percent of sales. Merchandise purchases are to be made during the month

preceding the month of the sales. Button pays 60 percent in the month of purchase and 40

percent in the month following. Wages are estimated at 20 percent of sales and are paid during

the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the

month following the sale.

Month                                  Sales Revenue

December                           \$170,000

January                                 250,000

February                              120,000

March                                   200,000

April                                       160,000

Prepare a schedule of cash disbursements for January, February, and March

--- Please Show excel formulas, thanks---

#### Homework Answers

Answer #1
 Schedule of Cash Disbursement: Particulars January February March Payment for Merchandise 103200 100800 105600 Wages(20% of Sales) 34000 50000 24000 Other Operating Costs(10% of Sales) 17000 25000 12000 Total 154200 175800 141600 Working Note: Particulars December January February March April Sales Revenue 170000 250000 120000 200000 160000 Cost of Goods(60% of Sales) 102000 150000 72000 120000 96000 PurchaseBudget: January February March Merchandise Purchase 72000 120000 96000 (Of Next Month Cost of Goods) In the Month (60% of Purchase) 43200 72000 57600 In the Following Month (40% of Purchase) 60000 28800 48000 Total 103200 100800 105600
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