Fn 3000 Lp3 Assignment: Cost of Goods Sold & Cash Budgeting

FN 3000 LP3 Assignment: Cost of Goods Sold & Cash Budgeting
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FN 3000 LP3 Assignment: Cost of Goods Sold & Cash Budgeting

Assignments
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.
Submit this assignment to your instructor via the dropbox, “LP3: Assignment: Cost of Goods Sold & Cash Budgeting.” This assignment is worth 80 points and will be graded according to the following scoring guide.
Scoring Guide (80 Points)
Rating Scale
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.
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