Question

X € Inbox (88) - jpainter5 x y Home / Twitter x (2) YouTube X Pearson eText x Pearson eText x C Managerial Accountin x + - + c etext.pearson.com/eplayer/pdfbook?bookid=46432&platform=1030&smsuserid=93761992&scenario=11&invoketype=et1&bookserver=1&pagenumber=i&c... E ☆ 555 > во А4 : P9-54A Comprehensive budgeting problem (Learning Objectives 2 & 3) Damon Manufacturing is preparing its master budget for the first quarter of the upcom- ing year. The following data pertain to Damon Manufacturing's operations: Current Assets as of December 31 (prior year): Cash. Accounts receivable, net.... Inventory..... Property, plant, and equipment, net..... Accounts payable. Capital stock..... .......... Retained earnings .............. $ 4,600 $ 46,000 $ 15,600 $121,000 $ 43,000 $125,000 $ 23,000 CHAPTER 9 a. Actual sales in December were $71,000. Selling price per unit is projected to remain stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: January ............... February ... March $ 99,600 $118,800 $115,200 $108,000 $103,200 April..... May............... ............. b. Sales are 35% cash and 65% credit. All credit sales are collected in the month following the sale. c. Damon Manufacturing has a policy that states that each month's ending inventory of finished goods should be 10% of the following month's sales (in units). d. Of each month's direct materials purchases, 20% are paid for in the month of pur- chase, while the remainder is paid for in the month following purchase. Three pounds of direct material is needed per unit at $2 per pound. Ending inventory of direct materials should be 20% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct Laberzincurred The direct labarbourne par unit in the direct laborate perbeu 0 W No e hp 12:31 AM 10/28/2019

Answer 1

Sales(cash)	64740
Jan-34860	77220
Feb-41580	74880

March-40320 April -37800 may-36120 70200 April, may 67080. Sales-81010+4158=85168,

Jan -76852	3	230496
Feb-76314	3	228942
March-81648	3	244944
April-77952	3	233856
may-77532	3