Each bag produced requires 4 feet of leather, 9 feet of nylon, 3 gold buckles, and 3.5 hours of direct labor. Currently you are paying your assembly workers $17 / hour (all wages are paid in the quarter they are incurred). In order to meet the following month’s demand, Tandy desires to keep 45% of the next month’s sales in Finished Goods Inventory. Tandy is forecasting sales in April, 2019 of 1,285 bags. Additionally, they also keep 30% of next month’s production needs in raw materials inventory. Tandy anticipates production of 1,255 units in April, 2019. Tandy has signed contracts with their suppliers to purchase leather at $4 a foot and buckles at $5 per buckle for the following year. Their policy is to pay for 75% of raw materials at the time of purchase and the remaining 25% in the following month. Tandy incurred $ 58,000 ($35,000 of leather, $15,000 of nylon, and $8,000 of buckles) of total materials purchases in December of 2018.Selling, General, and Administrative Expenses
Tandy anticipates the following expenses for January through March (all expenses are fixed and stated in the aggregate for all three months):
Sales & Delivery $ 12,500
Executive’s Salaries $ 44,100
Advertising Expenses $ 5,500
Mortgage Payments $ 7,500
Utilities on Admin offices $ 4,500
Required
Please complete the entire operational budget using Microsoft Excel
What is the projected ending cash balance in March?
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Each bag produced requires 4 feet of leather, 9 feet of nylon, 3 gold buckles, and 3.5 hours of dire...
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