Complete the table for computation of merchandise purchases budget.
| Part III-Purchases Budget | ||||||||
| Complete the table for computation of merchandise purchases budget. | ||||||||
| Pfeffer Company | ||||||||
| Merchandise Purchases Budgets | ||||||||
| For February, March and April | ||||||||
| February | March | April | ||||||
| Budgeted Ending Inventory | ||||||||
| Add budgeted sales | ||||||||
| Required units of available merchandise | ||||||||
| Deduct beginning inventory | ||||||||
| Budgeted purchases (units) | ||||||||
| Budgeted cost per unit | ||||||||
| Budgeted cost of merchandise purchases | ||||||||
| Part IV-Cash Payments Budget | ||||||||
| 60% of accounts payable are paid in the month of purchase with the remaining 40% | ||||||||
| paid the following month. Complete cash payments information. | ||||||||
| Cash payments on product purchases (for March and April) | ||||||||
| From purchases in | Total | % Paid | March | April | ||||
| February | ||||||||
| March | ||||||||
| April | ||||||||
| Total Paid | ||||||||
| Part V-Cash Budget | ||||||||
| Pfeffer has an outstanding balance on a loan of $120,000 at 10% | ||||||||
| annual interest taken last month to meet minimum balance | ||||||||
| requirements of $150,000. Loans should be taken out and paid back | ||||||||
| based on the ending cash balance each month. Complete the cash | ||||||||
| budget for Pfeffer Company for March and April. | ||||||||
| Pfeffer Company | ||||||||
| Cash Budget | ||||||||
| March and April | ||||||||
| March | April | |||||||
| Beginning cash balance | 45,000.00 | 0.00 | Don’t forget that you must include in this what you collect from A/R | |||||
| Cash receipts from customers | but also cash sales for the months (the 3% that are in cash) | |||||||
| Total available cash | ||||||||
| Cash disbursements | ||||||||
| Payments on purchases | ||||||||
| Selling and administrative expenses | 160,000.00 | 160,000.00 | ||||||
| Interest expense | ||||||||
| Total disbursements | ||||||||
| Preliminary cash balance | ||||||||
| Additional loan | ||||||||
| Repayment of loan | ||||||||
| Ending cash balance | ||||||||
| Ending loan balance | ||||||||
| Part VI-Analysis Component | ||||||||
| Reviewing the information in the cash budget, what is the value of this information | ||||||||
| to Pfeffer Company’s financial manager? What would he use this information for? | ||||||||
| Be as specific as possible in your answer. | ||||||||
| Please stay in the outlined areas. | ||||||||
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