Question

 Colter Company Expected cash collections Calculation Req a1 Jan Feb Jan Feb Nov sales 56,300 - =281,500*20% Dec sales 108,096 72,064 =360,320*30% =360,320*20% Jan sales 202,680 121,608 =405,360*50% =405,360*30% Feb sales - 225,200 =450,400*50% Total cash collections 367,076 418,872 Expected cash payments -Material Purchases Req a2 Jan Feb Jan Feb Dec Purchases 45,040 - =112,600*(1-60%) Jan Purchases 81,072 54,048 =135,120*60% =135,120*(1-60%) Feb Purchases - 84,450 =140,750*60% Total cash payments-materials 126,112 138,498 Cash budget Req b Jan Feb Jan Feb Cash balance, beginning 67,560 57,426 Add: Cash Receipts Cash collections 367,076 418,872 Collection of note receivable 16,890 - Proceeds from sale of securities - 6,756 Total Cash Receipts 383,966 425,628 Total Cash Available 451,526 483,054 Less: Cash Payments Direct material purchases 126,112 138,498 Direct labor 101,340 112,600 Manufacturing overhead 78,820 84,450 Selling and administrative expenses 87,828 94,584 =88,954-1,126 =95,710-1,126 Cash dividends paid - 6,756 Total Cash Payments 394,100 436,888 Excess (deficiency) of cash 57,426 46,166 Financing Add: Borrowings 10,134 =56,300-46,166 Less: Repayments - - Cash balance, ending 57,426 56,300

#### Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
• ### Problem 21-4A (Part Level Submission) Colter Company prepares monthly cash budgets. Relevant data from operating budgets...

Problem 21-4A (Part Level Submission) Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: January February Sales \$405,360 \$450,400 Direct materials purchases 135,120 140,750 Direct labor 101,340 112,600 Manufacturing overhead 78,820 84,450 Selling and administrative expenses 88,954 95,710 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent...

• ### Problem 21-4A Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are...

Problem 21-4A Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: Problem 21-4A Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses January \$411,120 137,040 102,780 79,940 90,218 February \$456,800 142,750 114,200 85,650 97,070 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first...

• ### Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows:...

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: February January Sales \$370,800 \$412,000 Direct materials purchases 123,600 128,750 Direct labor 92,700 103,000 Manufacturing overhead 77,250 72,100 Selling and administrative expenses 81,370 87,550 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases...

• ### Problem 21-4A (Part Level Submission) Colter Company prepares monthly cash budgets. Relevant data from operating budgets...

Problem 21-4A (Part Level Submission) Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses January \$403,200 134,400 100,000 78,400 88.480 February \$448,000 140,000 112,000 84,000 95,200 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent...

• ### Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows...

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows January February Sales \$363,600 \$404,000 Direct materials purchases 121,200 126.250 Direct labor 90,900 101.000 Manufacturing overhead 70,700 75,750 Selling and administrative expenses 79.790 85,850 All sales are on account, Collections are expected to be 50% in the month of sale, 30 % in the first month following the sale, and 20% in the second month following the sale, Sixty percent (60%) of direct materials...

• ### Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows:...

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: anuary February \$360,000 120,000 90,000 70,000 79,000 \$400,000 125,000 100,000 75,000 85,000 Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases...

• ### Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows:...

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: anuary February \$360,000 120,000 90,000 70,000 79,000 \$400,000 125,000 100,000 75,000 85,000 Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases...

• ### Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows...

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows February January \$435,600 \$484,000 Sales 151,250 Direct materials purchases 145,200 121,000 Direct labor 108,900 84,700 90,750 Manufacturing overhead 95,590 Selling and administrative expenses 102,850 All sales are on account. Collections are expected to be 50 % in the month of sale, 30 % in the first month following the sale, and 20 % in the second month following the sale. Sixty percent (60 %)...

• ### Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows....

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows. January February Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses \$421,200 140,400 105,300 81,900 92,430 \$468,000 146,250 117,000 87,750 99,450 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases...

• ### Marigold Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows:...

Marigold Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses January \$380,160 126,720 95,040 73,920 83,424 February \$422,400 132,000 105,600 79,200 89,760 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60% of direct materials purchases...