Expected collections from customers | ||||||
January | February | |||||
November | 56000 | |||||
December | 107520 | 71680 | ||||
January | 201600 | 120960 | ||||
February | 224000 | |||||
Total collections | 365120 | 416640 | ||||
Working | ||||||
January | February | |||||
November | 280000*20% = 56000 | |||||
December | 358400*30% = 107520 | 358400*20%=71680 | ||||
January | 403200*50% = 201600 | 403200*30%=120960 | ||||
February | 448000*50%= 224000 | |||||
2) | ||||||
Expected payment for direct materials | ||||||
January | February | |||||
December | 44800 | |||||
January | 80640 | 53760 | ||||
February | 84000 | |||||
Total payments | 125440 | 137760 | ||||
Working | ||||||
January | February | |||||
December | 112000*40%= 44800 | |||||
January | 134400*60%= 80640 | 134400*40%=53760 | ||||
February | 140000*60%=84000 |
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