my part to an accounting group project 495257

20000 50000 30000 25000 15000 10 10 10 10 10 0.7 0.25 0.05 0.2 5 0.4 13000 0.1 0.5 0.5 0.05 10 20 50500 20500 0.5 70000 10000 0.16 0.04 30000 51000 0 0 0 143700 48800 Schedule 1: Sales Budget Schedule 3: Production Budget in Units Schedule 4: Direct Materials Purchases Schedule 2: Cash receipts Schedule 7: Overhead Budget Sales price per unit cost per lb Purchase on Credit Purchase on Cash cost per DLH Var Selling per unit Minimum Cash Beg Inv RM in lbs Schedule 5: Cash Purchases Budget Schedule 6: Direct Labor Budget April May June August April 1. All sales are on account. 25% are collected in the month following sale; and the remaining 5% are uncollectible. Uncollectible July 2. The accounts receivable balance on March 31 was $30,000. All of this balance was collectible. 3. The company collects 70% of these credit sales in the month of the sale; 1. The company desires to have inventory on hand at the end of each month equal to 20% of the following month’s budgeted unit sales. 2. On March 31, 4,000 units were on hand. 1. Five lbs. of material are required per unit of product 10% of the following month’s production needs. Each unit requires in lbs 2. The material costs $0.40 per lb. 3. Management desires to have materials on hand at the end of each month equal to 4. The beginning materials inventory was 13,000 lbs. 1. Half of a month’s purchases are paid for in the month of purchase; the other half is paid for in the following month. 2. There are no discounts for early payment. 3. The accounts payable balance on March 31 was $12,000. They are all collected in April. Each unit produced requires 0.05 hour of direct labor. Each hour of direct labor costs the company $10. Management fully adjusts the workforce to…