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Case 9 30 Essay

607 words - 3 pages

SALES BUDGET:
April May June Quarter
Budgeted unit sales 65,000 100,000 50,000 215,000
Selling price per unit $10.00 $10.00 $10.00 $10.00
Total Sales 650,000 1,000,000 500,000 2,150,000


SCHEDULE OF EXPECTED CASH COLLECTIONS:
April May June Quarter
February sales $2,600 $2,600
March sales $28,000 $4,000 $32,000
April sales $130,000 $455,000 $65,000 $650,000
May sales $200,000 $700,000 $900,000
June sales $100,000 $100,000
Total Cash Collections $160,600 $659,000 $865,000 $1,684,600


MERCHANDISE PURCHASES BUDGET:
April May June ...view middle of the document...

Advertising 200,000 200,000 200,000 600,000
Rent 18,000 18,000 18,000 54,000
Salaries 106,000 106,000 106,000 318,000
Commissions 26,000 40,000 20,000 86,000
Utilities 7,000 7,000 7,000 21,000
Equipment purchases 16,000 40,000 56,000
Dividends paid 15,000 15,000
Total Disbursements 630,000 705,000 635,000 1,970,000

Excess (deficiency) of receipts
over disbursements (395,400) (271,400) (31,400) (211,400)
Financing:
Borrowings 170,000 10,000 180,000
Repayments - (180,000) (180,000)
Interest 5,300 5,300
Total financing 170,000 180,000 185,300 535,300

Cash balance, ending (225,400) (261,400) (211,400) (206,100)


EARRINGS UNLIMITED
BUDGETED INCOME STATEMENT
FOR THE THREE MONTHS ENDED JUNE 30

Sales 2,150,000
Variable expenses:
Cost of goods sold 860,000
Commissions 86,000 946,000
Contribution Margin 1,204,000
Fixed expenses:
Advertising 600,000
Rent 54,000
Salaries...

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