Deitz Corporation is projecting a cash balance of $37,500 in its December 31, 2019, balance sheet. Deitz’s schedule of expected collections from customers for the first quarter of 2020 shows total collections of $231,250. The schedule of expected payments
Deitz Corporation is projecting a cash balance of $37,500 in its December 31, 2019, balance sheet. Deitz’s schedule of expected collections from customers for the first quarter of 2020 shows total collections of $231,250. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $53,750. Other information gathered for the first quarter of 2020 is sale of equipment $3,750; direct labor $87,500, manufacturing overhead $43,750, selling and administrative expenses $56,250; and purchase of securities $17,500. Deitz wants to maintain a balance of at least $31,250 cash at the end of each quarter.
Prepare a cash budget for the first quarter.
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Deitz Corporation is projecting a cash balance of $37,500 in its December 31, 2019, balance sheet. Deitz’s schedule of expected collections from customers for the first quarter of 2020 shows total collections of $231,250. The schedule of expected payments
Deitz Corporation is projecting a cash balance of $35,400 in its December 31, 2019, balance sheet. Deitz's schedule of...
Deitz Corporation is projecting a cash balance of $35,400 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $218,300. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $50,740. Other information gathered for the first quarter of 2020 is sale of equipment $3,540; direct labor $82,600, manufacturing overhead $41,300, selling and administrative expenses $53,100; and purchase...
Exercise 23-15 Deitz Corporation is projecting a cash balance of $ 33,150 in its December 31,...
Exercise 23-15 Deitz Corporation is projecting a cash balance of $ 33,150 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $ 204,425 . The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $ 47,515 . Other information gathered for the first quarter of 2017 is sale of equipment $ 3,315; direct labor $ 77,350, manufacturing...
Deitz Corporation is projecting a cash balance of $ 37,830 in its December 31, 2016, balance...
Deitz Corporation is projecting a cash balance of $ 37,830 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections frarn customers for the first quarter of 2017 shows total callections af $233,285. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $ 54,223. Other information gathered for the first quarter of 2017 is sale of equipment s 3,783 ; direct labor $ aa, 270, manufacturing overhead $ 44,135,...
Oriole Corporation is projecting a cash balance of $34.800 in its December 31, 2019, balance sheet....
Oriole Corporation is projecting a cash balance of $34.800 in its December 31, 2019, balance sheet. Oriole's schedule of expected collections from customer for the first quarter of 2020 shows total collections of $214,600. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $49,880. Other information gathered for the first quarter of 2020 is sale of equipment $3,480, direct labor $81,200, manufacturing overhead $40,600, selling and administrative expenses $52.200; and purchase...
Concord Corporation is projecting a cash balance of $30,360 in its December 31, 2016, balance sheet....
Concord Corporation is projecting a cash balance of $30,360 in its December 31, 2016, balance sheet. Concord’s schedule of expected collections from customers for the first quarter of 2017 shows total collections of $187,220. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $43,516. Other information gathered for the first quarter of 2017 is sale of equipment $3,036; direct labor $70,840, manufacturing overhead $35,420, selling and administrative expenses $45,540; and purchase...
Exercise 13-15 Blue Corporation is projecting a cash balance of $38,460 in its December 31, 2016, balance sheet. Blue's...
Exercise 13-15 Blue Corporation is projecting a cash balance of $38,460 in its December 31, 2016, balance sheet. Blue's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $237,170. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $55,126. Other information gathered for the first quarter of 2017 is sale of equipment $3,846; direct labor $89,740, manufacturing overhead $44,870, selling and administrative expenses $57,690;...
Exercise 21-15 Deitz Corporation is projecting a cash balance of $36,960 in its December 31, 2016,...
Exercise 21-15
Deitz Corporation is projecting a cash balance of $36,960 in its
December 31, 2016, balance sheet. Deitz’s schedule of expected
collections from customers for the first quarter of 2017 shows
total collections of $227,920. The schedule of expected payments
for direct materials for the first quarter of 2017 shows total
payments of $52,976. Other information gathered for the first
quarter of 2017 is sale of equipment $3,696; direct labor $86,240,
manufacturing overhead $43,120, selling and administrative expenses
$55,440;...
Prepare a cash budget for the first quarter.
Aaron Corporation is projecting a cash balance of $31,076 in its December 31, 2013, balance sheet. Aaron's schedule of expected collections from customers for the first quarter of 2014 shows total collections of $180,326. The schedule of expected payments for direct materials for the first quarter of 2014 shows total payments of $40,898.Other information gathered for the first quarter of 2014 is sale of equipment $3,218, direct labor $69,511, manufacturing overhead $35,470, selling and administrative expenses $44,510 and purchase of...
Exercise 22-14 (Video) Cullumber Company expects to have a cash balance of $56,250 on January 1,...
Exercise 22-14 (Video) Cullumber Company expects to have a cash balance of $56,250 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $106,250, February $187,500. Payments for direct materials: January $62,500, February $93,750. Direct labor: January $37,500, February $56,250. Wages are paid in the month they are incurred. Manufacturing overhead: January $26,250, February $31,250. These costs include depreciation of $1,875 per month. All other overhead costs are...
Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step...
Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November...
Deitz Corporation is projecting a cash balance of $35,400 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $218,300. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $50,740. Other information gathered for the first quarter of 2020 is sale of equipment $3,540; direct labor $82,600, manufacturing overhead $41,300, selling and administrative expenses $53,100; and purchase...
Exercise 23-15 Deitz Corporation is projecting a cash balance of $ 33,150 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $ 204,425 . The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $ 47,515 . Other information gathered for the first quarter of 2017 is sale of equipment $ 3,315; direct labor $ 77,350, manufacturing...
Deitz Corporation is projecting a cash balance of $ 37,830 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections frarn customers for the first quarter of 2017 shows total callections af $233,285. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $ 54,223. Other information gathered for the first quarter of 2017 is sale of equipment s 3,783 ; direct labor $ aa, 270, manufacturing overhead $ 44,135,...
Oriole Corporation is projecting a cash balance of $34.800 in its December 31, 2019, balance sheet. Oriole's schedule of expected collections from customer for the first quarter of 2020 shows total collections of $214,600. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $49,880. Other information gathered for the first quarter of 2020 is sale of equipment $3,480, direct labor $81,200, manufacturing overhead $40,600, selling and administrative expenses $52.200; and purchase...
Exercise 13-15 Blue Corporation is projecting a cash balance of $38,460 in its December 31, 2016, balance sheet. Blue's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $237,170. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $55,126. Other information gathered for the first quarter of 2017 is sale of equipment $3,846; direct labor $89,740, manufacturing overhead $44,870, selling and administrative expenses $57,690;...
Exercise 21-15
Deitz Corporation is projecting a cash balance of $36,960 in its
December 31, 2016, balance sheet. Deitz’s schedule of expected
collections from customers for the first quarter of 2017 shows
total collections of $227,920. The schedule of expected payments
for direct materials for the first quarter of 2017 shows total
payments of $52,976. Other information gathered for the first
quarter of 2017 is sale of equipment $3,696; direct labor $86,240,
manufacturing overhead $43,120, selling and administrative expenses
$55,440;...
Exercise 22-14 (Video) Cullumber Company expects to have a cash balance of $56,250 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $106,250, February $187,500. Payments for direct materials: January $62,500, February $93,750. Direct labor: January $37,500, February $56,250. Wages are paid in the month they are incurred. Manufacturing overhead: January $26,250, February $31,250. These costs include depreciation of $1,875 per month. All other overhead costs are...
Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November...
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