The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: January $215,000 February $235,000 March Sales $258,000 Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales 24 b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales 24 c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Cash collections January February March

The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: January $215,000 February $235,000 March Sales $258,000 Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales 24 b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales 24 c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Cash collections January February March

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 7CE: Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced...

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* CengageNOWv2 | Online teachin x ome keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еBok Show Me How Print Item Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough ca December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) $9,250 Purchase season football tickets in September 160 Additional entertainment for each month: 250 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 600 Pay for food each month. 550 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,200 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a…
Howard Cooper, the president of Campbell Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 3. Standard rate and variable costs Service rate per hour $ 85.00 Labor cost 37.00 Overhead cost 7.10 Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative 3.80 $522,000 142,000 Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 45,000 hours of services in Year 3. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Campbell charges customers $80 per hour, the firm can achieve 50,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same…
meducation.com/ext/map/index.html?_con%3con&external_browser%3D0&launchUrl=https%253A%252F%252FIM..mheducation.com%252Fmghm Saved Help Sa 2 & 14 Recap i A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $8,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter (000 omitted) (000 omitted) 2 3 4 Year Cash balance, beginning 9 Add collections from customers 99 348 Total cash available 87 Less disbursements: nces Purchase of inventory 38 48 30 Selling and administrative expenses 30 30 121 Equipment purchases 10 10 13 43 Dividends 2 2 Total disbursements 90 Excess (deficiency) of cash available over disbursements (2) 16 Financing: Borrowings 14 Repayments (including interest)* (17) Total financing Cash balance, ending "Interest will total $1,000 for the year. 9. 7 8.
me * CengageNOWv2 | Online teachin X eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%=&inprogress%-false еВook Show Me How E Print Item Production Budget Pasadena Candle Inc. projected sales of 800,000 candles for January. The estimated January 1 inventory is 35,000 units, and the desired January 31 inventory is 20,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Production Budget For the Month Ending January 31 Expected units to be sold Desired ending inventory, January 31 Total units available Estimated beginning inventory, January 1 Total units to be produced in January Feedback Check My VWork Remember to take into account expected units to be sold, desired units in ending inventory and estimated units in beginning inventory when calculating total units to be produced. Previous Next
Bome * CengageNOwv2 |Online teachin x + akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Show Me How E Print Item Sales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 750 300 Desired inventory (units), June 30 500 250 Expected sales volume (units): Midwest Region 12,000 3,500 South Region 14,000 4,000 Unit sales price $60 $90 a. Prepare a sales budget, Sonic Inc. Sales Budget For the Month Ending June 30 Product and Area Unit Sales Volume Unit Selling Price Total Sales Model: Rumble Midwest Region South Region Total Model: Thunder Midwest Region South Region Previous Next> Check My Work 2 more Check My Work uses remaining
* CengageNOWv2 | Online teachin x v.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Show Me How E Print Item Cash Budget The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: June July August Sales $160,000 $185,000 $200,000 Manufacturing costs 66,000 82,000 105,000 Selling and administrative expenses 40,000 46,000 51,000 Capital expenditures 120,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month after sale). Depreciation, insurance, and property tax expense represent $12,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in February, and the annual property taxes are paid in November. Of the remainder of the manufacturing…
Howard Cooper, the president of Finch Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 1: Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost. Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 28,000 hours of services in Year 1. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Finch charges customers $57 per hour, the firm can achieve 31,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the firm…
EX.22-06 Sales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget. Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): East Region West Region Unit sales price Rumble 262 301 2,700 5,900 $140 Thunder 66 57 2,400 5,150 $205
* CengageNOWv2 | Online teachin x ssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false 哈☆ еВook Show Me How E Print Item Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,000 pounds. The desired January 31 wax inventory is 12,500 pounds. If candle wax costs $1.24 per pound, determine the direct materials purchases budget for January. (One pound = 16 ounces.) For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Estimated beginning inventory, January 1 16,000 X Desired ending inventory, January 31 12,500 V Total units available 503,125 12,500 X Estimated beginning inventory, January 1 487,125 Total pounds…
* CengageNOWv2 | Online teachin x ssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Show Me How E Print Item Direct Labor Cost Budget Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for January. Pasadena Candle Inc. Direct Labor Cost Budget For the Month Ending January 31 Hours required for assembly: Candles min. Convert minutes to hours min. Molding hours hrs. Hourly rate Total direct labor cost Previous Next Check My Work 3 more Check My Work uses remaining Save and Exit Submit Assignment for Grading 4:19 PM
BUS 203: INTRODUCTION TO COST AND MANAGEMENT ACCOUNTING PROJECT: CASH BUDGETING ASSOCIATE DEGREE YEAR 2: SEMESTER 1 (2020/21)Ronstadt Limited’s budget for the four months from January to April includes the following data:1. MonthSalesMaterialsWagesOverheads $000$000$000$000January615115.030360February636120.033390March690135.036420April684130.040425 2. One-third of sales revenue is received one month after sale and the remainder is received two months after sale. The sales in the previous two months were: November $600 000; December $540 000.3. One-quarter of purchases of materials are paid for in the month of purchase. The remainder are paid for two months later. Purchases in the previous two months were: November $108 000; December $106 000.4. Two-thirds of the wages are paid in the month in which they are earned, and the balance is paid in the following month. The wages for the previous December amounted to $30 000.5. One-half of the overhead expenditure is paid in the month in…
O https://ezto. Help Save & Exit Soved Unit 4 Assignment 8. In preparing a master budget, budgeted levels for production, manufacturing costs, and operating expenses normally are determined after preparing the sales forecast. True or False Ask True False 8 of 20 Mc Graw Hill