Excel Process Costing Project

VanBuren Manufacturing has the following budgeted sales (in units) for the middle months of
2022:
June 24,800
July 25,200
August 28,000
September 27,300
October 26,600
VanBuren’s product is sold for $12.00 per unit.
Sales are 30% cash and 70% credit. All credit sales are collected in the month following the
sale. The company does not anticipate any uncollectible accounts.
VanBuren Manufacturing has a policy that each month’s ending inventory of finished goods
should be 20% of the following month’s sales (in units).
In a well-prepared, neatly labeled Excel worksheet, prepare:
1. A Sales Budget for the Third Quarter of 2022 (show each month individually and then a
column for the third quarter). Show units and then dollars on your Sales Budget.
2. A Schedule of Expected Cash Collections for the Third Quarter (show each month
individually and then a column for the third quarter).
3. A Production Budget for the Third Quarter of 2022 (show each month individually and
then a column for the third quarter).
Grading Information
 All calculations should be done using Excel formulas.
 Wherever possible, pull the information for the later budgets from the earlier budgets. For
example, the Budgeted Sales in Units on the Production Budget should be automatically
pulled from that line on the Sales Budget.

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