can you please show the work as well.
Solution 1:
Computation of Collection from Customer | |||
Particulars | September | October | November |
Collection for July Sales | $26,700.00 | ||
Collection for August Sales | $67,900.00 | $29,100.00 | |
Collection for September Sales | $69,930.00 | $29,970.00 | |
Collection for October Sales | $83,160.00 | ||
Total cash collections | $94,600.00 | $99,030.00 | $113,130.00 |
Computation of Cash payment of manufacturing costs | |||
Particulars | September | October | November |
Payment for August Manufacturing cost | $10,000.00 | ||
Payment for September Manufacturing cost | $29,600.00 | $7,400.00 | |
Payment for October Manufacturing cost | $37,600.00 | $9,400.00 | |
Payment for November Manufacturing cost | $43,200.00 | ||
Total cash disbursements | $39,600.00 | $45,000.00 | $52,600.00 |
Bridgeport Housewares Inc. | |||
Cash Budget | |||
For the Three Months Ending November 30 | |||
Particulars | September | October | November |
Estimated cash receipts from: | |||
Cash sales | $11,100.00 | $13,200.00 | $17,900.00 |
Collection of accounts receivable | $94,600.00 | $99,030.00 | $113,130.00 |
Total cash receipts | $105,700.00 | $112,230.00 | $131,030.00 |
Less estimated cash payments for: | |||
Manufacturing costs | $39,600.00 | $45,000.00 | $52,600.00 |
Selling and administrative expenses | $39,000.00 | $40,000.00 | $68,000.00 |
Capital expenditures | $43,000.00 | ||
Other purposes: | |||
Income tax | $16,000.00 | ||
Dividends | $10,000.00 | ||
Total cash payments | $78,600.00 | $101,000.00 | $173,600.00 |
Cash increase or (decrease) | $27,100.00 | $11,230.00 | -$42,570.00 |
Plus cash balance at beginning of month | $43,000.00 | $70,100.00 | $81,330.00 |
Cash balance at end of month | $70,100.00 | $81,330.00 | $38,760.00 |
Less minimum cash balance | $41,000.00 | $41,000.00 | $41,000.00 |
Excess or (deficiency) | $29,100.00 | $40,330.00 | -$2,240.00 |
can you please show the work as well. Cash Budget The controller of Bridgeport Housewares Inc....
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $121,000 $155,000 $201,000 Manufacturing costs 51,000 67,000 72,000 Selling and administrative 42,000 47,000 76,000 expenses Capital expenditures 48,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $114,000 $140,000 $189,000 Manufacturing costs 48,000 60,000 68,000 Selling and administrative expenses 40,000 42,000 72,000 Capital expenditures _ _ 45,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $137,000 58,000 $173,000 74,000 $226,000 81,000 Manufacturing costs Selling and administrative expenses 48,000 52,000 86,000 Capital expenditures 54,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $130,000 $161,000 $211,000 Manufacturing costs 55,000 69,000 76,000 Selling and administrative expenses 46,000 48,000 80,000 Capital expenditures _ _ 51,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $137,000 $173,000 $223,000 Manufacturing costs 58,000 74,000 80,000 Selling and administrative expenses 48,000 52,000 85,000 Capital expenditures _ _ 54,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $96,000 $114,000 $153,000 Manufacturing costs 40,000 49,000 55,000 Selling and administrative expenses 34,000 34,000 58,000 Capital expenditures _ _ 37,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $136,000 $166,000 $227,000 Manufacturing costs 57,000 71,000 82,000 Selling and administrative expenses 48,000 50,000 86,000 Capital expenditures _ _ 54,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $141,000 $176,000 $ $241,000 Manufacturing costs 59,000 76,000 87,000 49,000 53,000 92,000 Capital expenditures ------------------------------------------------------------ ------------------------------------------------------------------------- 58,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the...
Cash Budget The controller of Bridgeport Housewares Inc. Instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $142,000 $178,000 $231,000 Manufacturing costs 60,000 77,000 83,000 Selling and administrative 50,000 $3,000 88,000 expenses Capital expenditures 55,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
PR 22-5A Cash Budget Obj. 5 The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: October Sales Manufacturing costs Selling and administrative expenses Capital expenditures September $250,000 150,000 42,000 $300,000 180,000 48,000 November $315,000 185,000 51,000 200,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month...