Business Finance FN 3000
LP3 Assignment: Cost of Goods Sold & Cash Budgeting
This assignment will assess the competency 3. Construct financial forecasts for an organization.
Directions: Chapter 4 ? Problems 6, 11, 13, 24
These assigned problems are located in your Foundations of Financial Management textbook. Follow the instructions printed for each problem and submit this assignment in a Microsoft Excel or Word document.
8 Work meets or exceeds criterion at a high level of competence.
7 Work reflects an understanding of criterion with minor misunderstandings/misconceptions.
6 Criterion partially met, but one or more important concepts/skills are missing or flawed.
5-4 Work reflects an attempt to meet criterion, but significant misunderstandings/misconceptions are apparent.
3-0 Criterion not met or work is absent.
Criteria - Problem 6
1. Net dollar sales projection was calculated correctly.
Criteria - Problem 11
2. Total cost of goods sold was calculated correctly.
Criteria - Problem 13
3. Cost of goods sold was calculated correctly assuming LIFO inventory accounting.
4. Cost of goods sold was calculated correctly assuming FIFO inventory accounting.
Criteria - Problem 24
5. Cash receipts schedule was prepared correctly.
6. Cash receipts for November were calculated correctly.
7. Cash receipts for December were calculated correctly.
8. Cash budget was prepared correctly.
9. Ending cash balance for November was calculated correctly.
10. Ending cash balance for December was calculated correctly.
Jan 10, 2018EXPERT
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