Question

A. Create a sales budget for the year ended December 31, 2017

B. Create a schedule of expected cash collections for the year ended December 31, 2017

File Edit Insert a a Format Help Caliber . 10 . BIUSA - ES -3.53 I E F G H Assumptions Endless Mountain Company manufactures a single product that is popular with outdore recreation enthusiasts. The company sells its product to retailers throughout the northeastern quadrant of the United States. It is in the process of creating a master budget for 2017. The company's CFO in consultation with various managers across the company is providing the latest Balance Sheet and a set of assumptions to help create the 2017 budgets. Budgeted Unit sales: Q1 2017 Q2 2017 03 2017 Q4 2017 Q1 2018 12.000 37.000 15,000 25.000 11000 Budgeted Selling Price per unit All sales are credit sales ignore Uncollectible Mounts. They are minimal Percentage of Sales collected in the quarter of the sale Percentage of Sales collected in the subsequent quarter 15 18 19 20 21 22 Quarter ending finished goods inventory as a percent of next quarter's unitats Yards of raw material required for each unit Cost per yard of raw material Quarter ending raw materials inventory as a percent of next Quarter's production needs Estimated ending raw materials inventory on December 31, 2017 (in yards) $300 10% 5.000 DIRECTIONS Assumptions Row 4 - Row 52 Blance Sheet for 2016 SOLUTION SOLUTION SOLUTIONS SOLUTION SOLUTIONS SOLUTIONS SOLUTE

Answer 1

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A. Sales Budget							For Ref Only
		Q1	Q2	Q3	Q4	Year	Q1 Next Year
Budgeted unit sale		12,000	37,000	15,000	25,000	89,000	13,000
Budgeted Selling Price		$              32	$                  32	$              32	$              32	$                  32
Total Budgeted Sale		$   384,000	$   1,184,000	$   480,000	$   800,000	$   2,848,000
B. Schedule of expected cash collection
		Q1	Q2	Q3	Q4	Year
Collected in the same quarter	75%	$   288,000	$       888,000	$   360,000	$   600,000	$   2,136,000
Collected in next quarter	25%	$   260,000	$         96,000	$   296,000	$   120,000	$       772,000
Total expected cash collection		$   548,000	$       984,000	$   656,000	$   720,000	$   2,908,000