Homework Answers
135) Calculation of Expected cash receipts for September (Amounts in $)
| September Cash Sales ($250,000*40%) | 100,000 |
| Cash collections for the month of: | |
| September [($250,000*60%)*50%] (50% of credit sales) | 75,000 |
| August [($300,000*60%)*50%] (50% of last month's credit sales) | 90,000 |
| Expected Cash Receipts for September | 265,000 |
Therefore the correct option is b) $265,000.
136) Calculation of Budgeted Cash Payments for June (Amounts in $)
| Cash payments for: | |
| May (40% of $480,000) | 192,000 |
| June (60% of $560,000) | 336,000 |
| Total Budgeted Cash Payments for June | 528,000 |
Therefore the correct option is a) $528,000.
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135. Mapleview, Inc. has the following budgeted sales: July $200,000, $250,000. 40% of the sales are for cash and...
A company has the following budgeted sales: July $200,000 August $300,000 September $250,000 20% of the...
A company has the following budgeted sales: July $200,000 August $300,000 September $250,000 20% of the sales are for cash, and 80% are on credit. 25% of the credit sales are collected in the month of sale, and 75% are collected the next month. What are the total expected cash receipts during September?
A company has the following budgeted sales: July $200,000 August $300,000 September $250,000 20% of the...
A company has the following budgeted sales: July $200,000 August $300,000 September $250,000 20% of the sales are for cash, and 80% are on credit. 25% of the credit sales are collected in the month of sale, and 75% are collected the next month. What are the total expected cash receipts during September?
9.7 Budgeted cash disbursements Burr, Inc. provided the following information: __ July August Projected sales $220,000...
9.7 Budgeted cash disbursements Burr, Inc. provided the following information: __ July August Projected sales $220,000 $260,000 Projected merchandise purchases $150,000 $180,000 • Burr estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. • Burr pays 30% of merchandise purchases in the month purchased and 70% in the...
Hagen Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Hagen Company's budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases
January
$300,000
$60,000
February
330,000
70,000
March
350,000
80,000
Hagen's sales are 40% cash and 60% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Hagen's purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase,...
XYZ, Inc. has budgeted sales for the first quarter of the next year to be 40,000...
XYZ, Inc. has budgeted sales for the first quarter of the next year to be 40,000 units. The inventory on hand at the beginning of quarter is 10,000 units. The desired ending inventory is 1000 units. Calculate the budgeted production for the first quarter. Hospitality, Inc. has prepared the following direct materials purchases budget: Month Budgeted DM Purchases June $68,000 July 79,500 August 78,700 September 77,800 October 70,200 All purchases are paid for as follows: 10% in the month of...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $257,000 $32,700 February 277,200 37,500 March 297,900 51,500 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale: 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January Budgeted D.M....
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January Budgeted D.M. Purchases $35,000 49,400 38,500 $266,000 286,100 251,900 February March Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $251,000 $35,100 February 282,800 40,100 March 342,600 46,700 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales $251,000 $32,200 January February 238,100 45,300 March 299,600 38,300 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account Purchases on account are paid 40% in the month of purchase,...
Nieto Company’s budgeted sales and direct materials purchases are as follows. Nieto’s sales are 30% cash...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Nieto’s sales are 30% cash and 70% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Nieto’s purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase, and 60%
in the month following purchase.
prepare a schedule of expected collections from...
9.7 Budgeted cash disbursements Burr, Inc. provided the following information: __ July August Projected sales $220,000 $260,000 Projected merchandise purchases $150,000 $180,000 • Burr estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. • Burr pays 30% of merchandise purchases in the month purchased and 70% in the...
Hagen Company's budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases
January
$300,000
$60,000
February
330,000
70,000
March
350,000
80,000
Hagen's sales are 40% cash and 60% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Hagen's purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $257,000 $32,700 February 277,200 37,500 March 297,900 51,500 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale: 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January Budgeted D.M. Purchases $35,000 49,400 38,500 $266,000 286,100 251,900 February March Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $251,000 $35,100 February 282,800 40,100 March 342,600 46,700 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales $251,000 $32,200 January February 238,100 45,300 March 299,600 38,300 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account Purchases on account are paid 40% in the month of purchase,...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Nieto’s sales are 30% cash and 70% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Nieto’s purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase, and 60%
in the month following purchase.
prepare a schedule of expected collections from...
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