Question

saster bude Tyler Corp has the following budgeted sales for the first 4 months of next year. January February March April Cash sales $80.000 560000 30000 $45.000 Credit sales $350,000 $200,000 $145.000 $130.000 Total sales $430,000 $260.000 $195.000 $175.000 The Company is in the process of preparing a cash budget andet determine the expected cash collections Accordingly, the following information has been assembled Collections on credit sales: Month of sale 60 Month after sale 30% 2nd month after sale The accounts receivable balance on January 1 is $155.000 of this amount, 5132,000 represents uncollected December sales and $23.000 represents sales. collected November 14 The total cash collected in January would be: $412,000 $445.000 $389,000 $346.000 E. None of the above 15 Hayes Corporation uses machine hours (MH) as its denominator activity for fixed manufacturing overhead (FMOH). For the most recent year, the company showed the following data. Actual FMOH cost FMOH Budget Variance FMOH Volume Variance Standard MHs allowed for actual output 280,000 39,000 Favorable 11,000 Favorable 600,000 MHS The budgeted MHs for Hayes was closest to: 621,429 MHS 573,810 MHs 628,696 MHS 580,000 MHs None of the above

Answer 1

X ANSWERK in January Calculation of Jotal Cash ales Colleded PARTICULARS (3) AMDUNT ash Aales in January 80000 alu in January Gradit Given 60. of Kalu are Collded in the 010000 3,50 p00 x K0%) of Aak ie menth (wN) 99000 December bas Receivrd Nccourt eeceiable (UN-I 03000 Jeceivable november was crd ccount 412000 COLLECTED To TAL CASH NOTE 1 lWORKING ohich out $ 1,52,000 Jecuivalle accounts Given the ef novemler and 23000 0as was ef dember 132 000 Cudit sale weru Collected that in the guestien griven follous ale Rale Jn the month as Jn he month 30/ sale nd month 1o

month and to/ November Aaler us cai ved inanuary amount the 23000 gfrien december sallu of secaivalle includes Stated that a.cco unts $132000 which sepresent 0 ofCe dit ales value docembor followr tsar T Buch amount to 100/ By equoting $ 3,30,000 isthe elit saly decemboer $ 132000 x 100 40 in month Jucovered in month 30 Credit sales are s, stated $330 000 to x 301. Gmout ing Lale offer 99000 Hen e, Optien (A) s Cerrat $412000 (A)