Homework Answers
| Answer | |
|
(a) : |
|
| NIETO COMPANY | |
| Expected collections from customers | |
| March | |
| March cash sales (251900*30%) | $ 75,570 |
| Collection of January credit sales (266000*70%*36%) | $ 67,032 |
| Collection of February credit sales (286100*70%*50%) | $ 100,135 |
| Collection of March credit sales (251900*70%*10%) | $ 17,633 |
| Total collections | $ 260,370 |
| (b) : | |
| NIETO COMPANY | |
| Expected payments for direct materials | |
| March | |
| Payments for March credit purchases (38500*50%*40%) | $ 7,700 |
| Payments for February credit purchases (49400*50%*60%) | $ 14,820 |
| March cash purchases (38500*50%) | $ 19,250 |
| Total payments | $ 41,770 |
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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 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 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,...
Exercise 22-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January...
Exercise 22-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January February March $237,000 227,300 284,800 Budgeted D.M. Purchases $36,500 43,100 42,900 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...
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 $40,500 February 294,900 37,800 March 257,100 50,800 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...
Exercise 21-17 Nieto Company's budgeted sales and direct materiais purchases are as follows Budgeted Sales Budgeted...
Exercise 21-17 Nieto Company's budgeted sales and direct materiais purchases are as follows Budgeted Sales Budgeted D.M Purchases January $256,500 $32.700 February 277,200 37.500 March 297,900 51.500 dy Nieto's sales are 30% cash and 70% credit. Credit ses are collected in the month of sale, so in the month following sale, and 16% 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...
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,...
Johnson Company's budgeted sales and direct materials purchases are as follows: Budgeted Sales Budgeted D.M. Purchases...
Johnson 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 Johnson's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the following sale, and 36% in the second month following sale; 4% are uncollectible. Johnson'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
$278,000
$39,600
February
307,100
42,900
March
283,600
42,000
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 $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 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,...
Exercise 22-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January February March $237,000 227,300 284,800 Budgeted D.M. Purchases $36,500 43,100 42,900 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...
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...
Exercise 21-17 Nieto Company's budgeted sales and direct materiais purchases are as follows Budgeted Sales Budgeted D.M Purchases January $256,500 $32.700 February 277,200 37.500 March 297,900 51.500 dy Nieto's sales are 30% cash and 70% credit. Credit ses are collected in the month of sale, so in the month following sale, and 16% 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...
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
$278,000
$39,600
February
307,100
42,900
March
283,600
42,000
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,...
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