Case: Chester & Wayne

Chester & Wayne is a regional food distribution company. Mr. Chester, CEO, has asked your assistance in preparing cash-flow information for the last three months of this year. Selected accounts from an interim balance sheet dated September 30, have the following balances:

Mr. Wayne, CFO, provides you with the following information based on experience and management policy. All sales are credit sales and are billed the last day of the month of sale. Customers paying within 10 days of the billing date may take a 2 percent cash discount. Forty percent of the sales is paid within the discount period in the month following billing. An additional 25 percent pays in the same month but does not receive the cash discount. Thirty percent is collected in the second month after billing; the remainder is uncollectible. Additional cash of $24,000 is expected in October from renting unused warehouse space.

Sixty percent of all purchases, selling and administrative expenses, and advertising expenses is paid in the month incurred. The remainder is paid in the following month. Ending inventory is set at 25 percent of the next month’s budgeted cost of goods sold. The company’s gross profit averages 30 percent of sales for the month. Selling and administrative expenses follow the formula of 5 percent of the current month’s sales plus $75,000, which includes depreciation of $5,000. Advertising expenses are budgeted at 3 percent of sales.

Actual and budgeted sales information is as follows:

The company will acquire equipment costing $250,000 cash in November. Dividends of $45,000 will be paid in December.

The company would like to maintain a minimum cash balance at the end of each month of $120,000. Any excess amounts go first to repayment of short-term borrowings and then to investment in marketable securities. When cash is needed to reach the minimum balance, the company policy is to sell marketable securities before borrowing.

Questions (use of spreadsheet software is recommended):

1. Prepare a cash budget for each month of the fourth quarter and for the quarter in total. Prepare supporting schedules as needed. (Round all budget schedule amounts to the nearest dollar.)

1. You meet with Mr. Chester and Mr. Wayne to present your findings and happen to bring along your PC with the budget model software. They are worried about your findings in Part 1. They have obviously been arguing over certain assumptions you were given.
   1. Mr. Wayne thinks that the gross margin may shrink to 27.5 percent because of higher purchase prices. He is concerned about what impact this will have on borrowings. Comment.
   1. Mr. Chester thinks that “stock outs” occur too frequently and wants to see the impact of increasing inventory levels to 30 and 40 percent of next quarter’s sales on their total investment. Comment on these changes.
   1. Mr. Wayne wants to discontinue the cash discount for prompt payment. He thinks that maybe collections of an additional 20 percent of sales will be delayed from the month of billing to the next month. Mr. Chester says “That’s ridiculous! We should increase the discount to 3 percent. Twenty percent more would be collected in the current month to get the higher discount.” Comment on the cash-flow impacts.

To avoid any uncertainty regarding his business’ financing needs at the time when such needs may arise, Cyrus Brown wants to develop a cash budget for his latest venture: Cyrus Brown Manufacturing (CBM). He has estimated the following sales forecast for CBM over the next 9 months:

He has also gathered the following collection estimates regarding the forecast sales:

• Payment collection within the month of sale = 25%
• Payment collection the month following sales = 55%
• Payment collection the second month following sales = 20%

Payments for direct manufacturing costs like raw materials and labor are made during the month that follows the one in which such costs have been incurred. These costs are estimated as follows:

Additional financial information is as follows:

• Administrative salaries will approximately amount to $35,000 a month.
• Lease payments around $15,000 a month.
• Depreciation charges, $15,000 a month.
• A one-time new plant investment in the amount of $95,000 is expected to be incurred and paid in June.
• Income tax payments estimated to be around $55,000 will be due in both June and September.
• And finally, miscellaneous costs are estimated to be around $10,000 a month.
• Cash on hand on March 1 will be around $50,000, and a minimum cash balance of $50,000 shall be on hand at all times.

To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values.

Group Project Guidelines:

• As a group, prepare a monthly cash budget for Cyrus Brown Manufacturing for the 9-month period of March through November.
  • Use Microsoft Excel to prepare the monthly cash budget.
• Based on your cash budget findings, answer the following questions:
  • Will the company need any outside financing?
  • What is the minimum line of credit that CBM will need?
  • What do you think of CBM’s cash position during the budget period? Do you see any concerns for the company in this regard?
  • If you were a bank manager, would you want CBM as your client? Why or why not?
• It is up to the members of the group to divide the assignment tasks evenly. You will be graded on group participation

Your submitted Group Project (200 points) must include the following:

• 100 Points. A Microsoft Excel spreadsheet that contains your group’s monthly cash budget for Cyrus Brown Manufacturing.
• 100 Points. A double-spaced Word document of 1–2 pages that contains your answers to the questions listed in the Assignment Guidelines.

   The most effective advertising pushes the customer to the Web, no matter what advertising channel is used.

   A marketing plan is part of the company’s business or strategic plan which is focued on meeting:

  1. Company quantitative goals such as revenue and market share reach.

  2. Company qualitatives goals, such as brand awarness and community goodwill.

 Part II

    Creative Ideas: Your customers Reason to Believe in the Product: This week detail the promtional plan by defining the following: 1. What is the overall marketing message for your promotional and asdvertising plan?

  2.Prepare 2 advertisements for cross-selling between traditional Web formats: The following are examples: A magazine or some type of print ad that promotes the company’s web site and/or specific products.  A banner ad or paid-search ad that advertises the company’s Web sit.

  3. Develop a 1 year media calendar focusing a traditional and online hybrid of 4 media platforms.  One platform must be a social media site.  Your advertising budget is $10 million, detail out each media platform and the months you will run your advertising. Media schedules can include a continous plan-meaning you advertise throughout the year, a pulsing plan-advertising more intensively in certain months; and a flighting plan-advertising only during certain months and the year.

    Compny is Apple 1,500-2,000 words with References

I have a big square, this square divided into 5×5 squares,

 any square is 25cm, total 125cm

i want to program the Lego robot to find the minimum path and avoid the objects

for example this code it is for two dimensional array