Reference no: EM132681879
Question - ABC Company has the monthly sales budget for the quarter as following:
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April
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May
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June
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The Quarter
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Unit sales
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67,500
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54,000
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60,750
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182,250
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Unit selling price
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$6,200
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$6,200
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$6,200
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$6,200
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Total Sales
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$418,500,000
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$334,800,000
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$376,650,000
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$1,129,950,000
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Additional information:
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April
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May
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June
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Total Manufacturing Overhead Costs
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$151,844,460.00;
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$153,360,540.00;
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$170,037,420.00
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Total selling and Admin expenses
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$87,075,000.00
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$69,660,000.00
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$78,367,500.00
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Cash on hand at opening $3,375,000
Annual interest rate on borrowing 6%
Cash Sales $0
Received in month of sale 80%
Received in month after sale 18%
Balance of accounts receivables at the start of the month $82,863,000
Dividends paid in June $1,194,750
Land purchased in May $185,100,000
Required - Prepare the monthly Cash Budget for the Quarter?
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