he following information is about a Company
Month Sales Purchases
Jan. 62,000 33,000
Feb. 84,000 42,000
Mar. 101,000 61,000
Cash is collected from customers in the following manner:
Month of sale 40%
Month following the sale 60%
45% of purchases are paid for in cash in the month of purchase, and the balance is paid in the following month.
Labor costs are 30% of sales. Other operating costs are 38,000 per month including deprecation of 10,000. Both of these are paid in the month incurred.
How much cash will be disbursed in total in March?
a) 58300
b) 68300
c) 108350
d) 118850
he following information is about a Company Month Sales Purchases Jan. 62,000 33,000 Feb. 84,000 42,000...
The following information is about a Company Month Sales Purchases Jan. 60,000 30,000 Feb. 80,000 40,000 Mar. 100,000 60,000 Cash is collected from customers in the following manner: Month of sale 45% Month following the sale 60% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid in the following month. Labor costs are 30% of sales. Other operating costs are 38,000 per month including deprecation of 10,000. Both of these are...
The following information pertains to Hepburn Company: Month Sales Purchases January $60,000 $35,000 February $84,000 $42,000 March $107,000 $66,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 50% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 25% of sales. Other operating costs are $32,000 per month (including $10,000 of depreciation). Both of these are paid...
the following information pertains to Hepburn Company: Month Sales Purchases January $70,000 $38,000 February $85,000 $41,000 March $101,000 $61,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 50% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 25% of sales. Other operating costs are $38,000 per month (including $9,000 of depreciation). Both of these are paid...
Type The following information pertains to Stark Corporation Month Jan Feb Mar Apr May June sales and Purchases $30,000 $10000 34,000 12000 38,000 14000 42,000 16000 48,000 18000 60,000 20000 Cash is collected from customers in the following manner 30% Month of sale* 50% Month following sale 15% Two months following sale 5% Amount uncollectible *Customers paying in the month of sale receive a 2% cash discount. 40% of purchases are paid for in cash in the...
The following information pertains to Hepburn Company: Month Sales Purchases January $66,000 $40,000 February $84,000 $49,000 March $102,000 $60,000 cash is collected from customers in the following manner : month of sale 40% month following the sale 60% 45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. labor costs are 30% of sales. other operating costs are $33,000 per month (including $9000 of depreciation) both of these are...
• • 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 25% of sales. Other operating costs are $36,000 per month (including $10,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $10,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000. •...
The following information pertains to Hepburn Company: Month Sales Purchases January $63,000 $39,000 February $82,000 $44,000 March $102,000 $57,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 30% of sales. Other operating costs are $32,000 per month (including $9,000 of depreciation). Both of these are paid...
The following information pertains to Tiffany Company: Month Sales Purchases January $30,000 $16,000 February $40,000 $20,000 March $50,000 $28,000 · Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% · 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. · Labor costs are 20% of sales. Other operating costs are $15,000 per month...
The following information pertains to Acme Corporation: Month Sales Purchases July 30,000 10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000 18,000 December 60,000 20,000 Cash is collected from customers in the following manner: Month of sale 35% Month following sale 50% Two months following sale 15% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. How much are total cash collections for the 4th...
Month Sales $ Month Sales $ Jan 39,597 July 39,428 Feb 51,408 Aug 84,330 Mar 84,330 Sep 39,597 Apr 39,428 Oct 84,330 May 39,597 Nov 51,408 June 51,408 Dec 39,428 The table contains the Sales estimates for the next year. The Purchases are 76% of Sales. Purchases are paid in the following month. The administrative expenses of $11,695 are paid each month Tax expenses of $25,555 are...