Problem 3
Millersville Corporation estimates the following revenue and expenses for the 20X3:
Sales of merchandise on account $1,000,000
Collection of Cash on Accounts Receivable 950,000
Proceeds from issuance of Bond Payable 700,000
Proceeds form sale of Common Stock 500,000
Merchandise purchased on account 950,000
Payments of cash on Accounts Payable 875,000
Cash payments of operating expenses 100,000
Cash purchase of Fixed (Plant) Assets 200,000
Depreciation on Fixed (Plant) Assets 20,000
Payment of cash on Bond Payable 40,000 (includes principal and interest)
Ending Cash Balance for 20X2 was $300,000.

Required: :Prepare a Cash budget for 20X3.

Had a grandparent die that i was close to so missed a few classes... FG for a full solve (can get more fg) pm me if you can help =D

Just send FG for w/e you think the answer is worth

Beg. Cash.....................300k
Receipts:
Collection A/R.....950k
Sale C/S............500k
Total Receipts...............1,450k
Total...........................1,750k

Disbursements:
Payment A/P......875k
OP Exp.............100k
Purch Equip........200k
Total Disbursements.......1,175k
Cash Surplus..................575k

Financing
Borrowing.........700k
Repayment........<40k>
Total Financing.............660k
Total Ending Cash...........1,235k

This post was edited by fastball26 on Apr 7 2013 08:24pm

Problem 1

King Co. is planning production for the coming year. The information to be used is based on a projection of cost information for the current year. Projections of the following costs are as follows:

Variable Cost Per Unit:

Direct Materials $21.20

Direct Labor 14.40

Factory Overhead 13.60

Selling Costs 10.80

Total $60.00

Fixed Cost Estimates:

Production Costs $285,600

Selling and Administrative Expenses 442,400

Total $728,000

King Co. sells it product for $140.00 per unit. Compute the following, showing your calculations:

1. The Breakeven Point in units:





2. Using the same approach and assuming that fixed costs are increased by $22,000, and sales price per unit is decreased by

$20.00, compute the Breakeven Point in sales dollars.







3. Using the original figures, how many units must be sold to produce a profit of $20,000.








This post was edited by marc8912 on Apr 7 2013 10:24pm