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# Problem Set 2 Essay

780 words - 4 pages

Running head: PROBLEM SET I

Problem Set I

Problem Set I
4-20
Juan’s Taco Company has restaurants in five college towns. Juan wants to expand into Austin and College Station and needs a bank loan to do this. Mr. Bryan, the banker, will finance construction if Juan can present an acceptable three-month financial plan for January through March. The following are actual and forecasted sales figures:
Table 1
Actual
November \$120,000
December 140,000
Forecast
January \$190,000
February 210,000
March 230,000
April \$230,000

Of Juan’s sales, 30 percent are for cash and the remaining 70 percent are on credit. Of credit sales, 40 percent are paid in the month after sale and 60 ...view middle of the document...

Exp. (5% of sales) Overhead Taxes Dividends Total Cash Payments*
January \$38,000 95,000 9,500 12,000 \$154,500
February \$42,000 105,000 10,500 12,000 \$169,500
March
\$46,000 115,000 11,500 12,000 20,000 16,000 \$220,500
*The \$25,000 of depreciation is excluded because it is not a cash expense.

Table 4
Cash Budget
Total Cash Receipts Total Cash Payments Net Cash Flow Beginning Cash Balance Cumulative Cash Balance Monthly Loan or (repayment) Cumulative Loan Balance Ending Cash Balance
January \$146,600 154,500 (7,900) 70,000 62,100 2,900 2,900 \$ 65,000
February \$175,000 169,500 5,500 65,000 70,500 (2,900) -0- \$ 67,600
March
\$207,600
220,500 (12,900)
67,600
54,700
10,300
10,300
\$ 65,000

5-2. Hazardous Toys Company produces boomerangs that sell for \$8 each and have a variable cost of \$7.50. Fixed costs are \$15,000.a. Compute the break-even point in units. b. Find the sales (in units) needed to earn a profit of \$25,000.
Table 5
Total Fixed Costs ÷ (Selling Price - Variable Cost) = Break-even sales
\$15,000 Break-even ÷ (\$8 Per Unit -
.. 50
\$7.50) Variable Cost = 30,000...

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