Multiple Choice Question 112 Crane Company expects to purchase $250000 of materials in July and $260000...
Multiple Choice Question 112 Crane Company expects to purchase $250000 of materials in July and $260000 of materials in August. Three-fourths of all purchases are paid for in the month of purchase, and the other one-fourth are paid for in the month following the month of purchase. How much will August's cash disbursements for materials purchases be? $195000 $187500 $257500 $260000
Homework Answers
Cash disbursements = August purchases * 3/4 + July purchases * 1/4
= (260,000 *0.75) + (250,000*0.25)
= 195,000 + 62,500
= 257,500
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Multiple Choice Question 112 Crane Company expects to purchase
$250000 of materials in July and $260000...
Garnett Co. expects to purchase $180,000 of materials in July and $210,000 of materials in August....
Garnett Co. expects to purchase $180,000 of materials in July and $210,000 of materials in August. Three-fourths of all purchases are paid for in the month of purchase, and the other one-fourth are paid for in the month following the month of purchase. How much will August's cash disbursements for materials purchases be?
A company determined that the budgeted cost of producing a product is $30 per unit. On...
A company determined that the budgeted cost of producing a product is $30 per unit. On June 1, there were 80,000 units on hand, the sales department budgeted sales of 300,000 units in June, and the company desires to have 120,000 units on hand on June 30. The budgeted cost of goods manufactured for June would be ________________ 18. A company has budgeted direct materials purchases of $300,000 in July and $480,000 in August. Past experience indicates that the company...
Multiple Choice Question 110 A company has budgeted direct materials purchases of $310000 in July and...
Multiple Choice Question 110 A company has budgeted direct materials purchases of $310000 in July and $470000 in August Past experience indicates that the company pays for 70% of its purchases in the month of purchase and the remaining 30 in the next month. During August, the following items were budgeted: Wages Expense Purchase of office cupment Selling and Administrative Expenses Depreciation Expense $100000 67000 44000 31000 The budgeted cash disbursements for August are $589000 $422000 64000 $633000
1. Lindell Co. expects to purchase $20,600 of materials in July and $24,200 of materials in...
1. Lindell Co. expects to purchase $20,600 of materials in July and $24,200 of materials in August. 30.00% of all purchases are paid for in the month of purchase, and the remaining 70.00% are paid for in the month following the month of purchase. What will be the company's cash disbursements in August? $38,620 $23,120 $21,680 $27,860 2. Hamilton Industries must maintain a minimum cash balance of $37,000. At the beginning of February the company's cash balance was $66,000. The...
ABC Company’s raw materials purchases for June, July, and August are budgeted at $46,000, $36,000, and...
ABC Company’s raw materials purchases for June, July, and August
are budgeted at $46,000, $36,000, and $61,000, respectively. Based
on past experience, ABC expects that 40% of a month’s raw material
purchases will be paid in the month of purchase and 60% in the
month following the purchase.
Required:
Prepare an analysis of cash disbursements from raw materials
purchases for ABC Company for August.
June July August Budgeted raw material purchases August cash payments: Current month's purchases Prior month's purchases...
Multiple Choice Question 97 Crane Company budgets on an annual basis for its fiscal year. The...
Multiple Choice Question 97 Crane Company budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2016 to June 30, 2017: June 30, 2017 3000 kilos June 30, 2016 2000 kilos Raw Materials Three kilos of raw materials are needed to produce each unit of finished product. If Crane Company plans to produce 660000 units during the 2016-2017 fiscal year, how many kilos of materials...
Question 4 Crane Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are...
Question 4 Crane Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows. Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses January $446,400 148,800 111,600 86,800 97,960 February $496,000 155,000 124,000 93,000 105,400 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct...
Question 9 Samson Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500...
Question 9 Samson Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500 August $39,600 September $45,800 October $49,400 All purchases are paid for as follows: 20% in the month of purchase, 60% in the following month, and 20% two months after purchase. What are the total dollar cash disbursements budgeted for October for the purchase of merchandise? $9,880 $49,400 $45,280 $37,360
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000...
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000 $49,000 $38,500 $50,000 $49,900 All purchases are paid for as follows: 20% two months after purchase, 45% in the following month, and 35% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O $47,665 $43,050 O $13,475 O $43.125
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases...
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $43,000 $44,000 $38,800 $51,000 $49,100 All purchases are paid for as follows: 5% two months after purchase, 40% in the following month, and 55% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O A. $49,345 O B. $21,340 OC. $43,190 OD. $41,090
Multiple Choice Question 110 A company has budgeted direct materials purchases of $310000 in July and $470000 in August Past experience indicates that the company pays for 70% of its purchases in the month of purchase and the remaining 30 in the next month. During August, the following items were budgeted: Wages Expense Purchase of office cupment Selling and Administrative Expenses Depreciation Expense $100000 67000 44000 31000 The budgeted cash disbursements for August are $589000 $422000 64000 $633000
ABC Company’s raw materials purchases for June, July, and August
are budgeted at $46,000, $36,000, and $61,000, respectively. Based
on past experience, ABC expects that 40% of a month’s raw material
purchases will be paid in the month of purchase and 60% in the
month following the purchase.
Required:
Prepare an analysis of cash disbursements from raw materials
purchases for ABC Company for August.
June July August Budgeted raw material purchases August cash payments: Current month's purchases Prior month's purchases...
Multiple Choice Question 97 Crane Company budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2016 to June 30, 2017: June 30, 2017 3000 kilos June 30, 2016 2000 kilos Raw Materials Three kilos of raw materials are needed to produce each unit of finished product. If Crane Company plans to produce 660000 units during the 2016-2017 fiscal year, how many kilos of materials...
Question 4 Crane Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows. Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses January $446,400 148,800 111,600 86,800 97,960 February $496,000 155,000 124,000 93,000 105,400 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct...
Question 9 Samson Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500 August $39,600 September $45,800 October $49,400 All purchases are paid for as follows: 20% in the month of purchase, 60% in the following month, and 20% two months after purchase. What are the total dollar cash disbursements budgeted for October for the purchase of merchandise? $9,880 $49,400 $45,280 $37,360
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000 $49,000 $38,500 $50,000 $49,900 All purchases are paid for as follows: 20% two months after purchase, 45% in the following month, and 35% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O $47,665 $43,050 O $13,475 O $43.125
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $43,000 $44,000 $38,800 $51,000 $49,100 All purchases are paid for as follows: 5% two months after purchase, 40% in the following month, and 55% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O A. $49,345 O B. $21,340 OC. $43,190 OD. $41,090
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