Week 12 Tutorial Question 1(2)

Week 12 Tutorial Question 1 9.26 Watson Company makes specially designed coffee mugs. The entity has improved its online presence and is trying to switch customer behaviour to this form of medium. Sales for each quarter of 2022 were as follows. Due to the change in sales strategy, the marketing department at Watson Company expects sales to grow by 20 per cent in each quarter in 2023. The unit sales price will be the same as 2022, at $25 per unit. Required Prepare a sales budget for 2023. ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ 2022 Sales $ 2022 Units Growth % 2023 Units Sell Price 2023 Sales $ March $234,00 0 9,360 20% 11,232 $25 $280,80 0 June $228,00 0 9,120 20% 10,944 $25 $273,60 0 September $231,00 0 9,240 20% 11,088 $25 $277,20 0 December $402,00 0 16,080 20% 19,296 $25 $482,40 0 Totals $1,095,0 00 43,800 20% 52,560 $25 1,314,00 0 Notes: ______________________________________________________________________________________ ______________________________________________________________________________________ ______________________________________________________________________________________ ______________________________________________________________________________________

______________________________________________________________________________________ ______________________________________________________________________________________ 9.22 From the following data for Thriftway Sales, calculate the receipts from accounts receivable for September, October and November. Credit sales are normally settled according to the following pattern: 30 per cent in the month of the sale, 60 per cent in the month following the sale and the remainder in the second month following the sale. Month 1: $105,000 x 30% = $31,500 Month 2: $90,000 x 60% = $54,000 Month 3: $92,000 x 10% =$9,200 ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ Credit Sales September October November July $105,000 $105,000 x 10% = $10,500 August $90,000 $90,000 x 60% = $54,000 $90,000 x 10% = $9,000 September $92,000 $92,000 x 30% = $27,600 $92,000 x 60% = $55,200 $92,000 x 10% = $9,200 October $106,000 $106,000 x 30% = $31,800 $106,000 x 60% = $63,600 November $87,000 $87,000 x 30% = 26,100 Total Receipts $92,100 $96,000 $98,900 Notes: ______________________________________________________________________________________ ______________________________________________________________________________________ ______________________________________________________________________________________ ______________________________________________________________________________________