Coach Inc. Case Study - Accounting and Finance Assignment Help

Assignment Task:

Coach Inc. in China is growing at a rapid rate and its strategy team is actively focusing on this growth area for the company. In anticipation of future growth, the directors of the company have built up their finished goods stocks at an even faster rate to make sure that they can meet customer demand. 

It is the 1st of September 2019. The Sales Director has reported on the two months of actual sales for July 2019 and August 2019 and has also estimated sales for the next six months:
                            $
July                    22,500,000
August               27,000,000
September        29,000,000
October             30,500,000
November         32,500,000
December         35,000,000
January             36,500,000
February           38,000,000

In August 2019, accounts receivable were 60 days sales. The credit controller has targeted debtor days to reduce from 60 days at 31 August 2019 to 45 days at 30 September 2019 and 30 days on 31 October 2019. He has also targeted 30 days to be maintained thereafter. 

The plant manager has provided a production plan to give the required level of production as follows:

September 2019 to February 2020 raw material purchases to be $8,600,000 per month.
July 2019 and August 2019 were $10,000,000 and $9,000,000 respectively.
Materials are bought with supplier payment terms of net 45 days.
Salaries and wages are $2,900,000 per month and paid in each month
Overheads and utilities are $5,600,000 per month and paid in each month.

The commercial manager has estimated that selling and administrative cost to be as follows:

September and October           15% of sales
November and December           14% of sales
January and February            13% of sales

All these expenses will be paid in the month that they are incurred.
 

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