make an entry on an excel sheet and answer some questionsACCT Project/Screenshot 2024-11-26 at 1.21.08 PM.png__MACOSX/ACCT

make an entry on an excel sheet and answer some questions

ACCT Project/Screenshot 2024-11-26 at 1.21.08 PM.png

__MACOSX/ACCT Project/._Screenshot 2024-11-26 at 1.21.08 PM.png

ACCT Project/Chapter_8_Applying_Excel_Student_Form.xls

Chapter 8 Form

Chapter 8: Applying Excel
DataYear 2 QuarterYear 3 Quarter
123412
Budgeted unit sales40,00060,000100,00050,00070,00080,000
• Selling price per unit$8per unit
• Accounts receivable, beginning balance$65,000
• Sales collected in the quarter sales are made75%
• Sales collected in the quarter after sales are made25%
• Desired ending finished goods inventory is30%of the budgeted unit sales of the next quarter
• Finished goods inventory, beginning12,000units
• Raw materials required to produce one unit5pounds
• Desired ending inventory of raw materials is10%of the next quarter’s production needs
• Raw materials inventory, beginning23,000pounds
• Raw material costs$0.80per pound
• Raw materials purchases are paid60%in the quarter the purchases are made
and40%in the quarter following purchase
• Accounts payable for raw materials, beginning balance$81,500
Enter a formula into each of the cells marked with a ? below
Review Problem: Budget Schedules
Construct the sales budgetYear 2 QuarterYear 3 Quarter
123412
Budgeted unit sales??????
Selling price per unit??????
Total sales??????
Construct the schedule of expected cash collectionsYear 2 Quarter
1234Year
Accounts receivable, beginning balance??
First-quarter sales???
Second-quarter sales???
Third-quarter sales???
Fourth-quarter sales??
Total cash collections?????
Construct the production budgetYear 2 QuarterYear 3 Quarter
1234Year12
Budgeted unit sales???????
Add desired finished goods inventory??????
Total needs??????
Less beginning inventory??????
Required production??????
Construct the raw materials purchases budgetYear 2 QuarterYear 3 Quarter
1234Year1
Required production (units)??????
Raw materials required to produce one unit??????
Production needs (pounds)??????
Add desired ending inventory of raw materials (pounds)?????
Total needs (pounds)?????
Less beginning inventory of raw materials (pounds)?????
Raw materials to be purchased?????
Cost of raw materials per pound?????
Cost of raw materials to be purchased?????
Construct the schedule of expected cash paymentsYear 2 Quarter
1234Year
Accounts payable, beginning balance??
First-quarter purchases???
Second-quarter purchases???
Third-quarter purchases???
Fourth-quarter purchases??
Total cash disbursements?????
&F
Page &P

__MACOSX/ACCT Project/._Chapter_8_Applying_Excel_Student_Form.xls

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