Accounting

Assignment Print View 11/6/12 11:16 AM Score: 28.14 taboo of 35 points (80.40%) 1. award: 12.50 out of 15.00 points Crydon, Inc., manufactures an advanced be directionless fin for scuba divers. solicitude is right away preparing detailed bud write downs for the 3rd quarter, July through September, and has assembled the future(a) information to swear out in preparing the bud consume: a. The market Department has estimated gross gross barters as follows for the remainder of the grade (in duettes of swim fins): The selling expense of the swim fins is $11 per pair. July opulent September 5,400 6,400 4,400 October November December 3,400 2,400 2,400 b. in all gross revenue are on account. Based on late(prenominal) experience, gross revenue are pass judgment to be collected in the following pattern: 45% in the calendar calendar month of sale 46% in the month following sale 9% defective The beginning accounts receivable balance (excluding uncollectible amounts) on July 1 leave behind be $129,000. c. The company maintains completed goods inventories relate to 10% of the following months sales. The parentage of finished goods on July 1 bequeath be 540 pairs. d. Each pair of swim fins requires 3 pounds of geico entangled. To retain shortages, the company would like the list of geico compound on glove at the end of each(prenominal) month to be cope with to 20% of the following months production needs.

The inventory of geico compound on arrive at on July 1 result be 3,300 pounds. e. Geico compound be $2.50 per pound. Crydon pays for 59% of its purchases in the month of purchase; the remainder is paid for in the following month. The accounts collectable balance for geico compound purchases will be $11,000 on July 1. postulate: 1a. Prepare a sales budget, by month and in total, for the ordinal quarter. Total budgeted sales July $ 59,400 August $ 70,400 September $ 48,400 bottom - Total $ 178,200 1b. Prepare a muniment of expected cash collections, by month and in total, for the third quarter. (Leave no cells blank - be certain to enter 0 wherever required. Do not round intermediate...If you want to get a full essay, dress it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper