Question

how do i do requiremnet 2-4? requirment 3 is not my calculations, they sre used with incorrect information.i need help with correcting 2-4. the requirment list shows what exact calculations are needed.

Score: 0.14 of 1 pt 5 of 5 (4 complete) HW Score: 62.73%, 3.14 of 5 pts P22-43A (book/static) Question Help Baxter Company's budget committee provides the following information: (Click the icon to view the information.) Read the requirements Two Months Ended February 28, 2018 January February Current month sales, 80% 64,800 $ 66,240 Prior month sales, 20% 19,000 16,200 83,800 $ 82.440 Total cash receipts Requirement 2. Prepare the schedule of cash payments for purchases for January and February 2018. Assume purchases are paid 60% in the month of purchase and 40% in the month following the purchase Baxter Company Budgeted Cash Payments for Purchases Two Months Ended February 28, 2018 January February 32 PM 40% of last month's purchases 60% of current month's purchases Total cash payments for purchases Enter any number in the odit fields and then click Check Answer. 3,3 parts remaining Clear All Check Answer 1 - арм

Answer 1

2)

BUDGETED CASH PAYMENTS FOR PURCHASE
	January	February
40% of last month purchase	11000	40600*40%=16240
60% of current month purchase	40600*60%=24360	41500*60%= 24900
Total cash payment for purchase	35360	41140

3)

SELLING AND ADMINISTRATIVE EXPENSE
	JAN	FEB
Variable expense
30% in the month incurred	1215   [4050*30%]	1242   [4140*30%]
70% in following month	1180	2835   [4050*70%]
Total payment for variable expense	2395	4077
Fixed expense
30% in the month incurred	1050    [3500*30%]	1050
70% in following month	1770	2450   [3500*70%]
Rent expense	2400	2400
Total payment for fixed expense	5220	5900
Total payment for S AND A	7615	9977

Out of beginning salaries and commission:

commission =2950*40%=1180

salaries = 2950*60%=1770

4)

PRINTER COMPANY CASH BUDGET FOR THE TWO MONTH ENDED FEBRUARY 28 ,2018
	January	February
Beginning cash balance	26000	64425
cash receipt from customers	83800	82440
cash available	109800	146865
cash payments:
cash payment for merchandise inventory	35360	41140
selling and administrative expense	7615	9977
payment for income taxes	2400	2400
Total cash payment	(45375)	(53517)
Ending cash balance	64425	93348