Attachment # 00001954 - IS_3315_term_project_tmatthews_PMB_(1).xlsx
IS_3315_term_project_tmatthews_PMB_(1).xlsx (26.86 KB)
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Three-Month Master BudgetBalance Sheet, December 31CashAccounts ReceivableFinished GoodsLandPlant and EquipmentCommon StockRetained EarningsBudgeted Gizmo sales in unitsJanuaryFebruaryMarchAprilMayCollected in month of saleDesired finished goods inventory(% of next month's units sales)Desired raw material inventory(% of next month's production needs)Raw material units needed to produce one GizmoWhatHuhBeginning inventory units & costGizmoPurchasesPaid in the month of purchasePaid in the subsequent monthCost of direct laborPlant and equipment depreciationhoursper hourper direct labor hourfixedvariableper yearThorny Corp.Raw materialsLess: accumulated depreciationTotal assetsAccounts Payable to suppliersTotal liabilities and equitySelling priceCollections from customersCollected the following month Direct labor time to produce one GizmoSelling and administrative expensesInsert formulas where appropriate in the Dec 31 Balance sheet.Construct worksheets for: January, February and MarchSales BudgetProduction BudgetCash BudgetBudgeted Income StatementBudgeted Balance SheetUse one column for each month and one for the quarter total.Assume FIFO for valuing inventories.Round budget calcuations (excepting unit costs) to the nearest dollar (no decimal places).Sales and raw materials purchases budgets should include both units and dollars.Raw Materials PurchasesPlace an appropriate title on each worksheetWorksheets should be organized and should have a consistent format.Worksheets should be formatted to print neatly and preferably on one page. If it is necessary to print on more than one page, make sure to use "PRINT TITLES" where appropriate and set page breaks appropriately. You may need to set some worksheets to "landscape" orientation.aadebesin_PMB.xlsxINSTRUCTIONSFactory overhead (exclusive of depreciation)Projected unit cost to produce one Gizmo (Exclusive of Depreciation)Skip one row below the title and place the name of the company. "Thorny Corp." should be changed to "YourLastName Corp." in all worksheets.Budgeted Retained Earnings Statement
Thorny Corp. Balance Sheet, December 31

Thorny Corp. Balance Sheet, December 31

Question # 00026677 Posted By: jia_andy Updated on: 09/25/2014 07:10 AM Due on: 01/31/2015
Subject Accounting Topic Accounting Tutorials:
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Thorny Corp.
Balance Sheet, December 31

Construct worksheets for: January, February and March
Sales Budget
Production Budget
Raw Materials Purchases
Cash Budget
Projected unit cost to produce one Gizmo (Exclusive of Depreciation)
Budgeted Income Statement
Budgeted Retained Earnings Statement
Budgeted Balance Sheet
Use one column for each month and one for the quarter total.
Assume FIFO for valuing inventories.
Round budget calcuations (excepting unit costs) to the nearest dollar (no decimal places).
Sales and raw materials purchases budgets should include both units and dollars.
Place an appropriate title on each worksheet
Skip one row below the title and place the name of the company. "Thorny Corp." should be changed to "YourLastName Corp." in all worksheets.
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IS_3315_term_project_tmatthews_PMB_(1).xlsx (26.86 KB)
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  1. jia_andy
    Tutorial # 00026106 Posted By: jia_andy Posted on: 09/25/2014 07:11 AM
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    The solution of IS 3315-Thorny Corp. Balance Sheet, December 31...
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