Name: EXERCISE 7-13 PINK MARTINI CORPORATION Cash Budget For the


Question Description:

35

I was having trouble doing this assignment for Accounting 301. It is for the week 4 assignment. The assignment comes out of Essentials of Accounting 4th Edition by Kimmel, Weygandt Kieso I cannot upload the pages though. Please let me know if you are able to help. Thanks Copy of Week 4 Assignment Template-1.xlsx Name: EXERCISE 7-13 PINK MARTINI CORPORATION Cash Budget For the Quarter Ended March 31, 2008 Beginning cash balance Add: Receipts Collections from customers Sale of equipment Total receipts Total available cash Less: Disbursements Direct materials Direct labor Manufacturing overhead Selling and administrative expense Purchase of securities Total disbursements Excess of available cash over disbursements Financing Borrowings Repayments Ending cash balance $- Beginning cash balance Add: Receipts Collections from customers Sale of equipment Total receipts Total available cash Less: Disbursements Direct materials Direct labor Manufacturing overhead Selling and administrative expense Purchase of securities Total disbursements Excess of available cash over disbursements Financing Borrowings Repayments Ending cash balance $$$$- PROBLEM 7-1A DANNER FARM SUPPLY COMPANY Sales Budget 6 Months Ending June 30, 2009 Quarter 1 Expected unit sales Unit selling price Total sales Six Months 2 $0 $0 $0 Expected unit sales Unit selling price Total sales DANNER FARM SUPPLY COMPANY Production Budget Quarter 1 Six Months 2 Expected unit sales Add: Desired ending finished goods Total required units Less: Beginning finished goods units Required production units 0 0 0 0 0 Expected unit sales Add: Desired ending finished goods Total required units Less: Beginning finished goods units Required production units Units to be produced Direct materials per unit Total pounds needed for production Add: Desired ending direct materials (pounds) Total materials required Less: Beginning direct materials (pounds) Direct materials purchases Cost per pound Total cost of direct materials Purchases 0 DANNER FARM SUPPLY COMPANY Direct Materials Budget—Gumm Quarter 1 Six Months 2 Units to be produced Direct materials per unit T otal pounds needed for production Add: Desired ending direct materials (pounds) Total materials required Less: Beginning direct materials (pounds) Direct materials purchases Cost per pound T otal cost of direct materials Purchases 0 0 0 0 0 0 0 0 0 0 DANNER FARM SUPPLY COMPANY Direct Labor Budget Quarter 1 Units to be produced Direct labor time (hours) per unit Total required direct labor hours Direct labor cost per hour Total direct labor cost Six Months 2 0 0 $0 Units to be produced Direct labor time (hours) per unit Total required direct labor hours Direct labor cost per hour Total direct labor cost 0 0 $0 $0 DANNER FARM SUPPLY COMPANY Selling and Administrative Expense Budget Quarter Six Months 1 0 Budgeted sales in units 2 0 Variable (.15 X Sales $$) Fixed Total $0 0 0 0 $0 $0 Budgeted sales in units Variable (.15 X Sales $$) Fixed Total DANNER FARM SUPPLY COMPANY Budgeted Income Statement Sales Cost of goods sold (70,000 X $33.75)* Gross profit Selling and administrative expenses Income from operations Income tax expense (30%) Net income Sales Cost of goods sold (70,000 X $33.75)* Gross profit Selling and administrative expenses Income from operations Income tax expense (30%) Net income – *Cost Per Bag Cost Element Quantity Unit Cost Total Direct materials Gumm   Tarr   Direct labor Direct materials Gumm Tarr Direct labor Manufacturing Overhead (150% of Direct Labor) Total $0.00 PROBLEM 8-1A (a) MALONE COMPANY Packaging Department Monthly Manufacturing Overhead Flexible Budget Activity level Direct labor hours Variable costs Indirect labor ($.35) Indirect materials ($.25) Repairs ($.15) Utilities ($.20) Lubricants ($.05) Total variable costs ($1.00) Fixed costs Supervision Depreciation Insurance Rent Property taxes Total fixed costs Total costs 0 0 0 $0 0 $0 0 0 $0 0 0 $0 Activity level Direct la

Answer

35