Homework Answers
Direct material = August 78,000 * .30 = $23,400
Septeber 100,000 * .70 = $ 70,000
Total Direct material = $23,400 + $ 70,000 = $93,400
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Check my w Use the following information to prepare the September cash budget for PTO Manufacturing...
Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following...
Use the following information to prepare the September cash
budget for PTO Manufacturing Co. The following information relates
to expected cash receipts and cash payments for the month ended
September 30.
Beginning cash balance, September 1, $40,000.
Budgeted cash receipts from sales in September, $255,000.
Raw materials are purchased on account. Purchase amounts are:
August (actual), $80,000; and September (budgeted), $110,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month...
Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following...
Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following information relates to expected cash receipts and cash payments for the month ended September 30. Beginning cash balance, September 1, $44,000. Budgeted cash receipts from sales in September, $262,000. Raw materials are purchased on account. Purchase amounts are: August (actual), $72,000, and September (budgeted), $100,000. Payments for direct materials are made as follows: 65% in the month of purchase and 35% in the month...
Use the following information to prepare the September cash budget for PTO Co. The following information...
Use the following information to prepare the September cash
budget for PTO Co. The following information relates to expected
cash receipts and cash payments for the month ended September
30.
Beginning cash balance, September 1, $47,000.
Budgeted cash receipts from sales in September, $258,000.
Raw materials are purchased on account. Purchase amounts are
August (actual), $76,000, and September (budgeted), $108,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month following...
Use the following information to prepare the September cash budget for PTO Co. The following information...
Use the following information to prepare the September cash budget for PTO Co. The following information relates to expected cash receipts and cash payments for the month ended September 30. Beginning cash balance, September 1, $42,000. Budgeted cash receipts from sales in September, $263,000. Raw materials are purchased on account. Purchase amounts are August (actual), $70,000, and September (budgeted), $103,000. Payments for direct materials are made as follows: 65% in the month of purchase and 35% in the month following...
Use the following information to prepare the September cash budget for PTO Co. The following information...
Use the following information to prepare the September cash budget for PTO Co. The following information relates to expected cash receipts and cash payments for the month ended September 30. a. Beginning cash balance, September 1, $42,000. b. Budgeted cash receipts from sales in September, $255,000. c. Raw materials are purchased on account. Purchase amounts are August (actual), $77,000, and September (budgeted) $107,000. Payments for direct materials are made as follows: 65% in the month of purchase and 35% in...
Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on...
Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on account and 41% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $516,000 for April, $526,000 for May, and $551,000 for June. The beginning balance of Accounts Receivable is $298,300 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 41% Cash sales Sales on...
Required information Problem 22-2A Manufacturing: Cash budget LO P2 [The following information applies to the questions...
Required information Problem 22-2A Manufacturing: Cash budget LO P2 [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow: July August $56,500 $ 72,500 September $ 55,500 Budgeted sales Budgeted cash payments for Direct materials Direct labor Factory overhead 15,660 3,540 19,700 12,940 2,860 16,300 13,260 2,940 16,700 Sales are 20% cash and 80% on credit....
Use the following information to prepare the July cash budget for Acco Co. It should show...
Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31. Beginning cash balance on July 1: $67,000. Cash receipts from sales: 40% is collected in the month of sale, 50% in the next month, and 10% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are May (actual), $1,770,000; June...
Use the following information to prepare the July cash budget for Acco Co. It should show...
Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31. a. Beginning cash balance on July 1: $65,000. b. Cash receipts from sales: 25% is collected in the month of sale, 50% in the next month, and 25% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are May (actual),...
Use the following information to prepare the July cash budget for Acco Co. It should show...
Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31. Beginning cash balance on July 1: $50,000. Cash receipts from sales: 30% is collected in the month of sale, 50% in the next month, and 20% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are: May (actual), $1,720,000; June...
Use the following information to prepare the September cash
budget for PTO Manufacturing Co. The following information relates
to expected cash receipts and cash payments for the month ended
September 30.
Beginning cash balance, September 1, $40,000.
Budgeted cash receipts from sales in September, $255,000.
Raw materials are purchased on account. Purchase amounts are:
August (actual), $80,000; and September (budgeted), $110,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month...
Use the following information to prepare the September cash
budget for PTO Co. The following information relates to expected
cash receipts and cash payments for the month ended September
30.
Beginning cash balance, September 1, $47,000.
Budgeted cash receipts from sales in September, $258,000.
Raw materials are purchased on account. Purchase amounts are
August (actual), $76,000, and September (budgeted), $108,000.
Payments for direct materials are made as follows: 65% in the month
of purchase and 35% in the month following...
Use the following information to prepare the September cash budget for PTO Co. The following information relates to expected cash receipts and cash payments for the month ended September 30. a. Beginning cash balance, September 1, $42,000. b. Budgeted cash receipts from sales in September, $255,000. c. Raw materials are purchased on account. Purchase amounts are August (actual), $77,000, and September (budgeted) $107,000. Payments for direct materials are made as follows: 65% in the month of purchase and 35% in...
Jasper Company has sales on account and for cash. Specifically, 59% of its sales are on account and 41% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $516,000 for April, $526,000 for May, and $551,000 for June. The beginning balance of Accounts Receivable is $298,300 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 41% Cash sales Sales on...
Required information Problem 22-2A Manufacturing: Cash budget LO P2 [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow: July August $56,500 $ 72,500 September $ 55,500 Budgeted sales Budgeted cash payments for Direct materials Direct labor Factory overhead 15,660 3,540 19,700 12,940 2,860 16,300 13,260 2,940 16,700 Sales are 20% cash and 80% on credit....
Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31. a. Beginning cash balance on July 1: $65,000. b. Cash receipts from sales: 25% is collected in the month of sale, 50% in the next month, and 25% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are May (actual),...
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