Homework Answers
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Yandell Company Cash Budget Two Months Ended January 31 and February 28 |
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| January | February | |
| Beginning cash balance | $15,000 | $37,355 |
| Cash receipts | 442,100 | 502,200 |
| Cash available | 457,100 | 539,555 |
| Cash payments: | ||
| Purchases of direct materials | 180,191 | 160,892 |
| Direct labor | 135,220 | 112,444 |
| Manufacturing overhead | 53,814 | 51,224 |
| Selling and administrative expenses | 50,520 (40,000+526,000*2%) | 51,280 (40,000+564,000*2%) |
| Total cash payments | 419,745 | 375,840 |
| Ending cash balance before financing | 37,355 | 163,715 |
| Minimum cash balance desired | (15,000) | (15,000) |
| Projected cash excess (deficiency) | 22,355 | 148,715 |
| Financing: | ||
| Borrowing | 0 | 0 |
| Principal repayments | 0 | 0 |
| Total effect of financing | 0 | 0 |
| Ending cash balance | $37,355 | $163,715 |
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Yandell has $15,000 in cash on hand on January 1 and has collected the following budget...
11. Yeaman has $15,000 in cash on hand on January 1 and has collected the following budget data: 1(Click on the icon to...
11. Yeaman has $15,000 in cash on hand on January 1 and has collected the following budget data: 1(Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yeaman has cash payments for selling and administrative expenses including salaries of $40,000 per month plus commissions that are 3% of sales, all paid in the month of sale. The company requires a minimum cash balance of...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget...
Yosko has $14,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $15,000....
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Collections from customers: January $109,650, February
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Payments for direct materials: January $64,500, February
$96,750.
Direct labor: January $38,700, February $58,050. Wages are paid
in the month they are incurred.
Manufacturing overhead: January $27,090, February $32,250.
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Enter a cash deficiency with a minus sign or parentheses.)
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Yosko has $14,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $15,000....
Company has $ 13500 in cash on hand on January 1 and has
collected the following budget data: Assume Hess has cash payments
for selling and administrative expenses including salaries of $
55000 plus commissions of 2% of sales, all paid in the month of
sale. The company requires a minimum cash balance of $ 11000.
Prepare a cash budget for January and February. Will Hess need to
borrow cash by the end of February? Begin by preparing the cash...
Danner Company expects to have a cash balance of $58,050 on
January 1, 2017. Relevant monthly budget data for the first 2
months of 2017 are as follows.
Collections from customers: January $109,650, February
$193,500.
Payments for direct materials: January $64,500, February
$96,750.
Direct labor: January $38,700, February $58,050. Wages are paid
in the month they are incurred.
Manufacturing overhead: January $27,090, February $32,250.
These costs include depreciation of $1,935 per month. All other
overhead costs are paid as incurred....
Sarasota Company expects to have a cash balance of $59,985 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $113,305, February $199,950. Payments for direct materials: January $66,650, February $99,975 Direct labor: January $39,990, February $59,985. Wages are paid in the month they are incurred. Manufacturing overhead: January $27,993, February $33,325. These costs include depreciation of $1,999 per month. All other overhead costs are paid as incurred...
A) Prepare Drew Consulting's cash budget for January
AND February
B) How much cash will Drew borrow in February if cash receipts
from customers that month total $39,000 instead of $49,000
Assume Drew Consulting began January with $15,000 cash. Management forecasts that cash receipts from credit customers will be $48,000 in January and $49,000 in February. Projected cash payments include equipment purchases ($18,000 in January and $41,000 in February) and selling and administrative expenses ($3,000 each month). Drew's bank requires...
Indigo Company expects to have a cash balance of $45,810 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $86,530, February $152,700. Payments for direct materials: January $50,900, February $76,350 Direct labor: January $30,540, February $45,810. Wages are paid in the month they are incurred. Manufacturing overhead: January $21,378, February $25,450. These costs include depreciation of $1,527 per month. All other overhead costs are paid as incurred...
Complete a cash budget for Graham Company for
January, February, and March. (Complete
all answer boxes. Enter a "0" for any zero balances. Round all
amounts entered into the cash budget to the nearest whole dollar.
Enter a cash deficiency with a minus sign or parentheses.)
CAN SOMEONE HELP ME PLS?? I NEED THE ANSWER FOR THREE MONTHS
January, February, and March.
i Reference Cash Receipts from Customers Total sales January February March $ 15,800 $ 12,200 $ 10,500||$ January...
Flounder Company expects to have a cash balance of $52,470 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $99,110, February $174,900. Payments for direct materials: January $58,300, February $87,450. Direct labor: January $34,980, February $52,470. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,486, February $29,150. These costs include depreciation of $1,749 per month. All other overhead costs are paid as incurred....
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