Question

Homework: 9-57A Score: 0 of 5 pts P9-57A (similar to) Click the icon to view the data) Read the tequirements Eeeel-eel-ee Total cash collections

Answer 1

		CASH COLLECTION BUDGET
			January	February	March	Total for the Quarter	April	May
	A	Sales Revenue	$99,600	$118,100	$115,200	$332,900	$108,000	$103,200
	B=A*35%	Cash Sales	$34,860	$41,335	$40,320	$116,515	$37,800	$36,120
	C=A*65%	Credit sales	$64,740	$76,765	$74,880	$216,385	$70,200	$67,080
	D	Collection for Credit sales	$48,000	$64,740	$76,765	$189,505
	E=B+D	TotalCash Collection	$82,860	$106,075	$117,085	$306,020
		Collection for Credit sales during January=Balance in Accounts receivable as on End December of previous year
		PRODUCTION   BUDGET
			January	February	March	Total for the Quarter	April	May
	A	Sales Revenue	$99,600	$118,100	$115,200	$332,900	$108,000	$103,200
	B	Sales Price Per unit	$12	$12	$12	$12	$12	$12
	C=A/B	Unit sales	8300	9842	9600	27742	9000	8600
	D	Ending Inventory (units)	984	960	900		860
	E=C*10%	Beginning inventory (units)	830	984	960		900
	F=C+D-E	Budgeted production (Units)	8454	9818	9540	27812	8960
		DIRECT MATERIALS    BUDGET
			January	February	March	Total for the Quarter	April	May
	A	Budgeted production (Units)	8454	9818	9540	27812	8960
	B	Direct material Required   per unitof production (in Pounds)	3	3	3	3	3
	C=A*B	Total Direct materials Needed(Pounds)	25362	29454	28620	83436	26880
	D	Ending Inventory	5891	5724	5376
	E=C*20%	Beginning Inventory	5072	5891	5724
	F=C+D-E	Budgeted Purchase (Pounds)	26180	29287	28272	83740
		CASH PAYMENT BUDGET FOR DIRECT MATERIAL PURCHASE
			January	February	March	Total for the Quarter
	A	Budgeted Purchase (Pounds)	26180	29287	28272	83740
	B	Cost of material per pound	$2	$2	$2	$2
	C=A*B	Total Purchase in dollars	$52,361	$58,574	$56,544	$167,479
	D=C*20%	Payment for the month'sPurchase	$10,472	$11,715	$11,309	$33,496
	E	Payment for earlier Purchase	$43,000	$41,889	$46,860	$131,748
	F=D+E	Budgeted Cash Payment	$53,472	$53,604	$58,168	$165,244
		Payment for Earlier Purchase during January=Balance in Accounts Payable as on End December of previous year