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Marvellous Enterprises Case Study

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MANNING ENTERPRISES
Ms. Manning has realized that the company would be much more profitable and her managerial job would be much easier if the company made more of the components used in the calculator. She must make a decision about buying the injection mold which cost $250,000, including delivery and modification for her purpose. She is sure she does not want to ask for further loan, especially since the machine will not be able to make any contribution to 2013 earnings.
With her current financial situation, she has a total cash of $66,280 dollars which is far below $250,000. Therefore, several changes have to be made to create the amount she needs.
Recommendations:
On Microsoft Excel spreadsheet, Manning Electronics, Inc’s projected monetary flow and projected income statement are estimated. 1) How can she raise $250,000 cash by the end of 2013? (Sheet 1)
Changes in receipts:
Forecasts are rarely perfect. Unforecasted events such as increase in sales can raise cash. Suppose there is a 5 percent increase in sales. Units sold therefore will increase from 60000 units to 63000 units. She decides to make few more items than she expects, thus, units sold will become 68000 units. Ms. Manning realizes that the actual sales volume would change with retail price but the small price changes, 5% or less, will not affect sales volume. Therefore, I would like to increase the retail price by 5% which $21.00. Her average collection period is 60 days. If the average collection period is smaller, more cash will flow in on annual monetary flow. Therefore, I would decrease the average collection period from 60 to 30 days. She estimates that 6% of sales revenue is lost through bad depts. If we can write up a contract with the retailers, sales revenue lost through bad debts could go down to 3%. As a result, the net receipts increases from $1,111,333 to $1,356,393.

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