Reference no: EM132759126
Questions -
Q1) Maple Ridge Corp has the following sales data forecast for the coming year
Q1 Budgeted sales in units 3,760.00
Q2 Budgeted sales in units 4,700.00
Q3 Budgeted sales in units 5,640.00
Q4 Budgeted sales in units 5,170.00
Selling price/ per unit $9.40
Sales collection in current quarter 65%
Sales collection in next quarter 30%
Uncollectible 5%
Last year outstanding A/R $37,835.00
Last year ending inventory 940.00
Desired ending inventory is 7.05% of next quarter budgeted sales in units
Desired ending inventory for the fourth quarter is 1057.50
Required - Please prepare the Sales and Production Budget.
Q2) Mindful Corp has following data to prepare the materials purchase budget
Q1 Required Production in units 2,964.00
Q2 Required Production in units 2,584.00
Q3 Required Production in units 2,356.00
Q4 Required Production in units 2,774.00
1st Quarter Beg raw materials inventor 1185.60 kg
1st Quarter Beg Accounts Payable $5,631.600
Each unit materials weight 0.76kg
Each kg costs: $1.52
Desired Inventory is 7.6% of next quarter purchase
Desired ending inventory for 4th quarter 1193.20 kg
75% Current quarter purchase paid in current quarter
25% Current quarter purchase paid in next quarter
Required - Please prepare the materials purchase budget.