PROJECT A - Case 9-30 Student Name: SALES BUDGET: April May June QuarterBudgeted unit sales Selling price per unit Total Sales SCHEDULE OF EXPECTED CASH COLLECTIONS: April May June QuarterFebruary sales March sales April sales May sales June sales Total Cash Collections MERCHANDISE PURCHASES BUDGET: April May June Quarter Budgeted unit sales Add desired ending inventory Total needs Less beginning inventory Required purchases Cost of purchases @ $4 per unit BUDGETED CASH DISBURSEMENTS FOR MERCHANDISE PURCHASES: April May June Quarter Accounts payable April purchases May purchases June purchases Total cash payments EARRINGS UNLIMITED CASH BUDGET FOR THE THREE MONTHS ENDING JUNE 30 April May June Quarter Cash balance Add collections from customers Total cash available Less Disbursements Merchandise purchases Advertising Rent Salaries Commissions Utilities Equipment purchases Dividends paid Total Disbursements Excess (deficiency) of receipts over disbursements Financing: Borrowings Repayments Interest Total financing Cash balance, ending EARRINGS UNLIMITED BUDGETED INCOME STATEMENT FOR THE THREE MONTHS ENDED JUNE 30 Sales - Variable expenses: Cost of goods sold - Commissions - - Contribution Margin - Fixed expenses: Advertising - Rent - Salaries - Utilities - Insurance - Depreciation - - Net operating income - Interest expense - Net income - EARRINGS UNLIMITED BUDGETED BALANCE SHEET JUNE 30 Assets: Cash Accounts receivable (see below) Inventory Prepaid insurance Property and equipment, net Total assets Liabilities and Stockholders' Equity Accounts payable, purchases Dividends payable Capital stock Retained earnings (see below) Total liabilities and stockholders' equity Accounts receivable at June 30: May sales x ?% June sales x ?% Total Retained earnings at June 30: Balance, March 31 Add net income Total Less dividends declared Balance, June 30 Clark Paints: The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchasing them. The equipment needed would cost $200,000, with a disposal value of $40,000, and it would be able to produce 5,500,000 cans over the life of the machinery. The production department estimates that approximately 1,100,000 cans would be needed for each of the next five years.The company would hire three new employees. These three individuals would be full-time employees working 2,000 hours per year and earning $12.00 per hour. They would also receive the same benefits as other production employees, 18% of wages, in addition to $2,500 of health benefits.It is estimated that the raw materials will cost 25¢ per can and that other variable costs would be 5¢ per can. Since there is currently unused space in the factory, no additional fixed costs would be incurred if this proposal is accepted.It is expected that cans would cost 45¢ each if purchased from the current supplier. The company's minimum rate of return (hurdle rate) has been determined to be 12% for all new projects, and the current tax rate of 35% is anticipated to remain unchanged. The pricing for a gallon of paint, as well as the number of units sold, will not be affected by this decision. The unit-of-production depreciation method would be used if the new equipment is purchased.Required: 1. Based on the above information and using Excel, calculate the following items for this proposed equipment purchase:o Annual cash flows over the expected life of the equipmento Payback period o Annual rate of returno Net present valueo Internal rate of return 2. Would you recommend the acceptance of this proposal? Why or why not? Prepare a short double-spaced Word paper elaborating and supporting your answer.Can I get this project for November 20, 2011 the template above is what I have to useThank you Jawaad
Hi JACUSTOMERDo you want to solution to Clark Paints or the question posted before it or both?Also for the first question no information is given. Please Check?RegardsLinda
both also there is a temp plate excel that I send it has to be in formulas I could not get to paste the temp plate as it suppose to be I had tocopy and paste.
The temp plate excel is the first and the Clark Paints is the actual problem but has to do in the temp plate formula if you understand.
I am sorry, I will opt out and let other experts help you with this.RegardsLinda
Please upload the excel template to www.mediafire.com then copy and paste the share link here. It is also better to upload the problems in a word document so that the questions are properly formatted, but please note that the amount you are offering is too low for the work involved so consider either increasing the offer, or offering a bonus to compensate for all the work involved
Just do Project B but has to be done in excel with formulas.
thank you and sorry that is with clark paints.
thank you I appreciate your help.
Working on the question. Please advise your deadline
the dead line is Sunday November 20, 2011 and please do not do Project A only PROJECT B with Clark Paints
Oh, I thought you wanted Project A
Ok, please upload the excel template you have for project B to www.mediafire.com then copy and paste the share link here
I am unable to upload the template on media fire it gave my laptop a virus which cause my laptop to crash one me. I just got back my lap top from an IT person.
I am unable to upload the template on media fire it gave my laptop a virus which cause my laptop to crash one me. I just got back my lap top from an IT person. I send the template to justanswer email address together with the materials for Project A.
Also Project B Clark Paints has to be use in a excel showing all formulas.
I apologize I cannot help without the template. I also got very busy so it would be hard to complete the assignment as I committed to other assignments when you have not responded to me. I have opted out in case another expert can help
All the best
CASE 9-30 Master Budget with Supporting Schedules [LO2, LO4, LO8, LO9, LO10]
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash.
Since you are well trained in budgeting, you have decided to prepare comprehensive budgets for the upcoming second quarter in order to show management the benefits that can be gained from an integrated budgeting program. To this end, you have worked with accounting and other areas to gather the information assembled below.
The company sells many styles of earrings, but all are sold for the same price-$10 per pair. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (in pairs of earrings):
It has to do in excel with formulas showing. Jawaad can you please help me I need both projects by 11/22/11.
Project A - Case 9-30 has to do in excel showing all formulas.
Thank you Jawaad
This template is how it suppose to be I could not get to copy the template right.
THIS IS THE REST OF PROJECT A
January (actual) 20,000
February (actual) 26,000
March (actual) 40,000
April (Budget) 65,000
May (Budget) 100,000
June (Budget) 50,000
July (Budget) 30,000
August (Budget) 28,000
September (Budget) 25,000