Question

Tyler Cop has the following t h e best Canales Credits Total 580000 $350.000 000 5430.000 So $200,000 5.260.000 following information has been Collections on credits Methode Month for sale and months after sale The account balance on January 1 or this amount, $120.000 represents collected December sales and 523.000 represents collected 14 The total cash collected in January would be: S180,000 $343,000 $403.000 $433,000 E. None of the above 15 Hayes Corporation uses machine hours (MH) as its denominator activity for fixed manufacturing overhead (FMOM). For the most recent year, the company showed the following data. Actual FMOH cost FMOH Budget Variance FMOH Volume Variance Standard MHs allowed for actual output 280,000 39,000 Favorable 11,000 Favorable 600,000 MHs The budgeted MHs for Hayes was closest to: 580,000 MHs 621,429 MHs 573,810 MHs 628,696 MHs None of the above Page 9 of 12

Answer 1

14)

The correct answer is D) $433,000.

Supporting calculations:

	January
Cash sales	$80,000
Cash collections from credit sales:
November Sales	$23,000
December Sales	$120,000
January Sales ($350,000*60/100);	$210,000
Total Cash collected in January	$433,000

Therefore, the total cash collected in January is $433,000.

Note: As per Chhegg guidelines, the first question should be answered so i have answered the first question, hence, please post the second question separately. Please do not give a thumb down for not answering all the questions as i have just followed the HOMEWORKLIB RULES.