Homework Answers
Answer-
| DEITZ CORPORATION | |
| Cash Budget | |
| FOR THE FIRST QUARTER | |
| Particulars | 1st Quarter |
| $ | |
| Beginning cash balance (A) | 35400 |
| Add- Budgeted cash receipts | |
| Collection from clients | 218300 |
| Sale of equipment | 3540 |
| Total cash available for use (B) | 257240 |
| Less- Cash Payments | |
| Payment for direct materials | 50740 |
| Direct labor | 82600 |
| Manufacturing overhead | 41300 |
| Selling & Administrative expenses | 53100 |
| Purchase of securities | 16520 |
| Total cash payments (C) | 244260 |
| Cash surplus/ (Deficit) (D=A+B-C) | 12980 |
| Financing:- | |
| Add-Borrowings | 16520 |
| Less-Repayments | 0 |
| Budgeted ending cash balance | 29500 |
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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 $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...
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...
Mynor Company Balance Sheet As of December 31, 2019 Assets &nbs
Mynor Company Balance Sheet As of December 31, 2019 Assets Liabilities & Owners’ Equity Current Assets Current Liabilities Cash $ 31,400 A/P $ 77,900 A/R 65,000 Raw Materials 19,500 Owners’ Equity Finished Goods 128,820 Common Stock $125,000 Total Current Assets $244,720 Retained Earnings 520,000 Long Term Assets PP&E $922,180 Total Owners’Equity 645,000 Accum Deprec (444,000) Net PPE 478,180 Total Assets $722,900 Total Liabs & Owners Equity $722,900 ======= ======= 1. Sales projections for the 2020 are: 1st Quarter 70,000 units Each unit sells for $17 and is sold on account. 2nd Quarter 60,000 units Cash collections are 80% in the month of sale 3rd Quartet 90,000 units and 20% in the following...
Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to...
Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales Unit sales for November 2019 114,000 Unit sales for December 2019 102,000 Expected unit sales for January 2020 114,000 Expected unit sales for February 2020 113,000 Expected unit sales for March 2020 117,000 Expected unit sales for April 2020 126,000...
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;...
Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales Unit sales for November 2019 114,000 Unit sales for December 2019 102,000 Expected unit sales for January 2020 114,000 Expected unit sales for February 2020 113,000 Expected unit sales for March 2020 117,000 Expected unit sales for April 2020 126,000...
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