Question

Question 2 (1 point) Bean Manufacturing reported the following information for 2013: October November December Budgeted $240,
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Correct answer----------(a) $148,000

Working

November
Salaries $ 100,000.00
Rent $   20,000.00
Utilities $   28,000.00
Total operating expenses to be paid in cash $ 148,000.00

Depreciation is an operating but it is not included above since depreciation is a noncash expense.

Add a comment
Know the answer?
Add Answer to:
Question 2 (1 point) Bean Manufacturing reported the following information for 2013: October November December Budgeted...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The following information pertains to the October operating budget for Flockhart Corporation. times• Budgeted sales for...

    The following information pertains to the October operating budget for Flockhart Corporation. times• Budgeted sales for October​ $100,000 and November​ $200,000. times• Collections for sales are​ 60% in the month of sale and​ 40% the next month. times• Gross margin is​ 30% of sales. times• Administrative costs are​ $10,000 each month. times• Beginning accounts receivable​ (October 1)​ $20,000. times• Beginning inventory​ (October 1)​ $14,000. times• Beginning accounts payable​ (October 1)​ $60,000. ​ (All from inventory​ purchases.) times• Purchases are paid...

  • The following information is provided for Molly Corporation: Estimated Sales: August $ 60,000 September 80,000 October...

    The following information is provided for Molly Corporation: Estimated Sales: August $ 60,000 September 80,000 October 70,000 November 50,000 December 100,000 20% of sales are cash sales. Of the credit sales, 60% is collected in the month of sales, 30% in the month following the sale and 10% in the second month after the sale. Other information:  Purchases of inventory for October, November and December are $8,500, $10,000, and $17,500 respectively.  Operating expenses are $39,000 per month. ...

  • Prepare the following budgets for November and December: 1. Sales budget 2. Cost of goods sold,...

    Prepare the following budgets for November and December: 1. Sales budget 2. Cost of goods sold, inventory, and purchases budget 3. Operating expense budget 4. Budgeted income statement October sales were $260,000. Sales are projected to go up by 8% in November (from the October sales) and another 25% in December (from the November sales) and then return to the October level in January. 25% of sales are made in cash, while the remaining 75% are paid by credit or...

  • a) Sales budget October November December Cash Sales $ 126,000.00 $ 157,500.00 $ 196,875.00 Sales on...

    a) Sales budget October November December Cash Sales $ 126,000.00 $ 157,500.00 $ 196,875.00 Sales on Account $ 154,000.00 $ 192,500.00 $ 240,625.00 Total Budgeted Sales $ 280,000.00 $ 350,000.00 $ 437,500.00 b) Schedule of cash receipts October November December Current Cash sales $ 126,000.00 $ 157,500.00 $ 196,875.00 Add: Collection From A/R $ $ 154,000.00 $ 192,500.00 Total Collections $ 126,000.00 $ 311,500.00 $ 389,375.00 C) Inventory purchase budget October November December Budgeted Cost of goods sold $ 168,000.00...

  • Question 1 2 pts Crane Company has the following sales data: August September October November December...

    Question 1 2 pts Crane Company has the following sales data: August September October November December Cash Sales $4000 $5000 $6000 $7000 $16000 Sales on Account $50000 $57,755 $65000 $71,288 $100000 Crane Company's credit customers have the following payment history: 38% in month of sale 59% in month following sale the rest are never collected What are budgeted cash receipts for September?

  • Question : 1 Budgeted Sales April (Actual) S7200,000 May 8400,000 June 1 020,000 July 1.080,000 August...

    Question : 1 Budgeted Sales April (Actual) S7200,000 May 8400,000 June 1 020,000 July 1.080,000 August 600,000 September 900,000 Additional information Cash Sales 40% Credit sales (Collected the following month) 60% Prepare Sales Budget and Cash Collection from customers from May to August Solution: Schedule a Sales Budget Code Sales Schedule b. Cash Collection from Customers Collection Price month Tool Collection Question-2: A manufacturing Company provided the following information Budgeted Sales December (Actual) S480,000 January 560,000 February 680,000 March 720,000...

  • please answer question 2 (A-E) Wheeling Company is a merchandiser that provided a balance sheet as...

    please answer question 2 (A-E) Wheeling Company is a merchandiser that provided a balance sheet as of September 30 as shown below: Wheeling Company Balance Sheet September 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciati Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 59,000 90,000 32,400 214,000 $ 395,400 $ 73,000 216,000 106,400 $ 395,400 ter 8 Saved Help Save & Exit Submit The company is in...

  • CASH FLOW OUTLINE Question 1 The following information was extracted from the books of Sweet River...

    CASH FLOW OUTLINE Question 1 The following information was extracted from the books of Sweet River Ltd as at September 30, 2013 2013 2012 $ $ ASSETS Cash 318,000 30,000 320,000 16,000 280,000 382,000 24,000 340,000 12,000 280,000 320,000 (32.000 964,000 Accounts Receivable Inventory Prepaid Expenses Land Equipment Accumulated Depreciation 0 1326,000 LIABILITIES AND EQUITY Accounts Payable Accrued Expenses Income Tax Payable Long Term Loan Ordinary Share Capital Retained Earnings 120,000 40,000 104,000 30,000 24,000 260,000 720,000 188,000 964,000 0...

  • You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company’s operations: The cash balance on December 1 is $40,000. Actual sales for October

    You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company’s operations: The cash balance on December 1 is $40,000.Actual sales for October and November and expected sales for December are as follows:  OctoberNovemberDecemberCash sales$ 65,000$ 70,000$ 83,000Sales on account$ 400,000$ 525,000$ 600,000 Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% collected in the...

  • TIC PICILL. Alempt 2 Question 2 (1 point) Ogleby Inc.'s accounting records reflect the following inventories:...

    TIC PICILL. Alempt 2 Question 2 (1 point) Ogleby Inc.'s accounting records reflect the following inventories: Dec. 31. 2012 Dec. 31. 2013 Raw materials $120,000 $ 96,000 inventory Work in process 156,000 174,000 inventory Finished goods 150,000 138,000 inventory During 2013, Ogleby purchased $840,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000. How much would Ogleby Manufacturing report as cost of goods manufactured for 2013? a) $1,218,000 Ob) $1,188,000 c) $1,224.000 d) $1,164,000...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT