AE323 PRELIMINARY LONG QUIZ

Garcio Corporation (Cash Budget)

45%
40% Month
Credit Sales Month of Sale Following
February 130,000.00 52,000.00 -
March 140,000.00 56,000.00 58,500.00
April 150,000.00 60,000.00 63,000.00
May 160,000.00 64,000.00 67,500.00
June 170,000.00 68,000.00 72,000.00

10%
Two Months Total Total
Following Credit Sales Cash Sales
February - 52,000.00 80,000.00
March - 114,500.00 90,000.00
April 13,000.00 136,000.00 100,000.00
May 14,000.00 145,500.00 110,000.00
June 15,000.00 155,000.00 120,000.00

Credit Sales Cash Sales Total

1 February 52,000.00 80,000.00 132,000.00
2 March 114,500.00 90,000.00 204,500.00
3 April 136,000.00 100,000.00 236,000.00
4 May 145,500.00 110,000.00 255,500.00
5 June 155,000.00 120,000.00 275,000.00
Total collections 436,500.00 330,000.00 766,500.00

Villareal Corporation (Materials Budget)

April May June

9 Beginning inventory 58,850.00 116,350.00 173,850.00
6-8 Materials 107,500.00 157,500.00 207,500.00
10 Ending inventory 116,350.00 173,850.00 231,350.00
Budgeted production (materials) 50,000.00 100,000.00 150,000.00
Budgeted production (units) 10,000.00 20,000.00 30,000.00

Fernandez Company (Sales Budget)

Non-
Rechargeable Rechargeable
Excellent units (55%) 55,000.00 55,000.00
Good units (35%) 31,500.00 31,500.00
Fair units (10%) 8,000.00 8,000.00
11-12 Total units 94,500.00 94,500.00
Target % 15% 35%
13-14 Unit 14,175.00 33,075.00
Multiply: Per unit 50.00 5.00
Total selling 708,750.00 165,375.00

Rechargeable 708,750.00
Non-rechargeable 165,375.00
15 Estimated sales in peso 874,125.00

Delos Santos Dolls Inc. (Production Budget)

October November December

16 Materials 100,000.00 200,000.00 300,000.00
17 Labor 160,000.00 320,000.00 480,000.00
18 Variable overhead 160,000.00 320,000.00 480,000.00
19-20 Fixed overhead 100,000.00 100,000.00 100,000.00
Total Production 520,000.00 940,000.00 1,360,000.00
Budgeted Sales 1,000.00 2,000.00 3,000.00