Gladiator Robotics Read the information below and complete Parts I, II and III The board of directors of Gladiator Robotics

Gladiator RoboticsRead the information below and complete Parts I, II and IIIThe board of directors of Gladiator Robotics is considering whether or not to donate to a national robotics convention for high school students interested in technology and engineering. The company needs you to prepare a monthly cash budget to determine the available cash reserves for January, February, and March. Relevant data appear below. OctoberactualNovemberactualDecemberactualJanuaryFebruaryMarchSales $300,000 $325,000 $450,000 $310,000 $350,000 $400,000All sales are on account. Collections are expected to be 60% in the month following the sale, 25% in the second month following the sale, and 10% in the third month following the sale. Five percent are deemed to be uncollectible.The company sold equipment in February for $20,000 and received a dividend on investments of $4,000 in March.Cash on hand as of January 1st is $14,000.Material purchases are as follows:OctoberNovemberDecemberJanuaryFebruaryMarch$80,000 $85,000 $105,000 $80,000 $88,000 $92,000Material purchases are paid 50% in the month purchased and the remainder in the following month.Other disbursements are paid in the month incurred. JanuaryFebruaryMarchLabor and wages 150,000 185,000 215,000Selling costs 62,000 68,000 78,000G & A costs 30,000 31,000 38,000Income taxes 32,000Capital equipment 50,000 The company wants to maintain a cash balance at the end of each month of at least $10,000. It has a $250,000 line of credit at the bank and will borrow from the bank in order to maintain this balance.Part I: Prepare a monthly cash budget for January, February, and March following the template on page 261 in the textbook.Part II: Analyze the cash budget and make recommendations to the board of directors of Gladiator Robotics regarding your findings. Be specific regarding possible causes and remedies (if applicable).Part III: What if any concerns do you have about the ability to make the donation? Also, do you have any concerns about cash on hand which might impact variable HR expenses such as recruitment costs or other commitments to employees including staffing, development or rewards? Be specific.

Order your essay today and save 20% with the discount code: GREEN

Don't use plagiarized sources. Get Your Custom Essay on
Gladiator Robotics Read the information below and complete Parts I, II and III The board of directors of Gladiator Robotics
Just from $13/Page
Order Essay

Order a unique copy of this paper

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
Top Academic Writers Ready to Help
with Your Research Proposal
Live Chat+1(978) 822-0999EmailWhatsApp