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ACCT 505 Course Project 1- LBJ Company

ACCT 505 Course Project 1- LBJ Company

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Author: janifer molton
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ACCT 505 Course Project 1- LBJ Company

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You have just been contracted as a budget consultant by LBJ Company, a distributor of bracelets to various retail outlets across the country. The company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash.

You have decided to prepare a cash budget for the upcoming fourth quarter in order to show management the benefits that can be gained from proper cash planning.You have worked with accounting and other areas to gather the information assembled below.

The company sells many styles of bracelets, but all are sold for the same $10 price. Actual sales of bracelets for the last three months and budgeted sales for the next six months follow:

July (actual)

20,000

August (actual)

26,000

September (actual)

40,000

October (budget)

70,000

November (budget)

110,000

December (budget)

60,000

January (budget)

30,000

February (budget)

28,000

March (budget)

25,000

 

The concentration of sales in the fourth quarteris due to the Christmas holiday. Sufficient inventory should be on hand at the end of each month to supply 40% of the bracelets sold in the

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