Milo-Freeze Company manufactures and sells a product that has seasonal variations in demand, with peak sales coming in the third quarter. The following information concerns operations for Year 2- the coming year- and for the first two quarters of Year 3:1.) The company’s single product sells for $10 per unit. Budgeted sales in units for the next six quarters are as follows:Year 2Q1) 40,000Q2) 60,000Q3) 100,000Q4) 50,000Year 2Q1) 70,000Q2) 80,0002.) 75% of sales are collected in the quarter the sales are made.The remaining 25% are made in the following quarter. On January 1, Year 2, the company’s balance sheet showed $65,000 in accounts receivable.This should be collected by the end of first quarter. Bad debts are negligible and can be ignored.3.) At each quarter’s end there should be an ending inventory of finished units on-hand.These should equal 30% of the budgeted sales for the next quarter. On December 31, Year 1, the company had 12,000 units on hand.4.) Six pounds of raw materials are required to complete one unit of product. At each quarter’s end there should be an ending inventory of raw materials on hand equal.These should equal 10% of the production needs of the following quarter. On December 31, Year 1, the company had 23,000 pounds of raw materials on hand.5.) The raw material costs $0.80 per pound. 60% of raw material purchases are paid in the quarter the purchases are made.The remaining 40% of raw material purchases are paid in the following quarter. On January 1, Year 2, the company’s balance sheet showed $81,500 in accounts payable for raw material purchasesAll of this will be paid for in the first quarter of the year.The company’s single product sells for $10 per unit. Budgeted sales in units for the next six quarters should be in an Excel spreadsheet:1. A sales budget. 2. A cash collections budget.3. A production budget.4. A direct materials budget.5. Cash payments for purchases of materials schedule.
Why Choose Us
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
How it Works
- Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
- Fill in your paper’s requirements in the "PAPER DETAILS" section.
- Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
- Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
- From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.