Homework Answers
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| Callumber Company | |||
| Cash Budget | |||
| January | February | ||
| Opening Balance | 58,650.00 | 32,930.00 | |
| Add: | |||
| Collection from customers | 83,650.00 | 158,650.00 | |
| Sale of short term investments | 13,860.00 | - | |
| Total cash available | 156,160.00 | 191,580.00 | |
| Less: | |||
| Payments to suppliers | 52,650.00 | 87,650.00 | |
| Wages | 31,860.00 | 41,860.00 | |
| Administrative expenses (excl. depreciation) | 21,860.00 | 24,860.00 | |
| Selling Expenses | 16,860.00 | 21,860.00 | |
| Total Payments | 123,230.00 | 176,230.00 | |
| Balance before borrowings | 32,930.00 | 15,350.00 | A |
| Minimum Cash balance to be maintained | 32,650.00 | 32,650.00 | B |
| Borrowings | - | 17,300.00 | C=B-A |
| Ending Balance | 32,930.00 | 32,650.00 | D=A+C |
| Hi, the image is blurry so some figures may not be correctly inputted. But format is ok and you can change figures if it needs any correction. | |||
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Chaster 07 Homework om Tercise Cullumber Company expects to have a cash balance of $58,650 on January 1, 2017. Th...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 7-14 Cullumber Company expects to have a cash...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 7-14 Cullumber Company expects to have a cash balance of $58,650 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $83,650, February $158,650. 2. Payments to suppliers: January $52,650. February 587,650 3. Wages: January $31,860, February $41,860, Wages are paid in the month they are incurred 4. Administrative expenses: January $22,850, February $25,860. These costs include depreciation of...
Cullumber Company expects to have a cash balance of $ 65,150 on January 1, 2017. These...
Cullumber Company expects to have a cash balance of $ 65,150 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $ 90,150, February $ 165,150. 2. Payments to suppliers: January $ 59,150, February $ 94,150. 3. Wages: January $ 31,120, February $ 41,120. Wages are paid in the month they are incurred. 4. Administrative expenses: January $ 22,120, February $ 25,120. These costs include depreciation of...
Cullumber Company expects to have a cash balance of $57,200 on January 1, 2022. These are the relevant monthly budget d...
Cullumber Company expects to have a cash balance of $57,200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $82,000, February $137,800 2. Payments to suppliers: January $44,800, February $52,400 3. Wages: January $36,400, February $42,400. Wages are paid in the month they are incurred. 4. Administrative expenses: January $26,400, February $34,100. These costs include depreciation of $1,900 per month. All other costs are paid as...
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...
Danner Company expects to have a cash balance of $46,035 on January 1, 2017. Relevant monthly...
Danner Company expects to have a cash balance of $46,035 on
January 1, 2017. Relevant monthly budget data for the first 2
months of 2017 are as follows:
Collections from customers:
January $86,955, February $153,450.
Payments for direct
materials: January $51,150, February $76,725.
Direct labor: January
$30,690, February $46,035. Wages are paid in the month they are
incurred.
Manufacturing overhead:
January $21,483, February $25,575. These costs include depreciation
of $1,535 per month. All other overhead costs are paid as
incurred....
Exercise 23-14 Danner Company expects to have a cash balance of $49,500 on January 1, 2017....
Exercise 23-14 Danner Company expects to have a cash balance of $49,500 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows: Collections from customers: January $93,500, February $165,000. Payments for direct materials: January $55,000, February $82,500. Direct labor: January $33,000, February $49,500. Wages are paid in the month they are incurred. Manufacturing overhead: January $23,100, February $27,500. These costs include depreciation of $1,650 per month. All other overhead costs are paid...
Exercise 216 Holcomb Company expects to have a cash balance of $43,000 on January 1, 2017....
Exercise 216 Holcomb Company expects to have a cash balance of $43,000 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $85,000, February $132,000 2. Payments to suppliers: January $40,000, February $50,000 * Wages: January $34,000, February $40,000. Wages are paid in the month they are incurred. Administrative expenses: January $24,000, February $31,000. These costs include depreciation of $1,000 per month. All other costs are paid...
Exercise 7-14 Blossom Company expects to have a cash balance of $57,600 on January 1, 2017....
Exercise 7-14 Blossom Company expects to have a cash balance of $57,600 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $82,600, February $157,600 2. Payments to suppliers: January $51,600, February $86,600. 3. Wages: January $31,580, February $41,580. Wages are paid in the month they are incurred 4. Administrative expenses: January $22,580, February $25,580. These costs include depreciation of $1,000 per month. All other costs are...
Danner Company expects to have a cash balance of $58,005 on January 1, 2017. Relevant monthly...
Danner Company expects to have a cash balance of $58,005 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $109,565, February $193,350. Payments for direct materials: January $64,450, February $96,675. Direct labor: January $38,670, February $58,005. Wages are paid in the month they are incurred. Manufacturing overhead: January $27,069, February $32,225. These costs include depreciation of $1,933 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...
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...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 7-14 Cullumber Company expects to have a cash balance of $58,650 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $83,650, February $158,650. 2. Payments to suppliers: January $52,650. February 587,650 3. Wages: January $31,860, February $41,860, Wages are paid in the month they are incurred 4. Administrative expenses: January $22,850, February $25,860. These costs include depreciation of...
Cullumber Company expects to have a cash balance of $57,200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $82,000, February $137,800 2. Payments to suppliers: January $44,800, February $52,400 3. Wages: January $36,400, February $42,400. Wages are paid in the month they are incurred. 4. Administrative expenses: January $26,400, February $34,100. These costs include depreciation of $1,900 per month. All other costs are paid as...
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...
Danner Company expects to have a cash balance of $46,035 on
January 1, 2017. Relevant monthly budget data for the first 2
months of 2017 are as follows:
Collections from customers:
January $86,955, February $153,450.
Payments for direct
materials: January $51,150, February $76,725.
Direct labor: January
$30,690, February $46,035. Wages are paid in the month they are
incurred.
Manufacturing overhead:
January $21,483, February $25,575. These costs include depreciation
of $1,535 per month. All other overhead costs are paid as
incurred....
Exercise 23-14 Danner Company expects to have a cash balance of $49,500 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows: Collections from customers: January $93,500, February $165,000. Payments for direct materials: January $55,000, February $82,500. Direct labor: January $33,000, February $49,500. Wages are paid in the month they are incurred. Manufacturing overhead: January $23,100, February $27,500. These costs include depreciation of $1,650 per month. All other overhead costs are paid...
Exercise 216 Holcomb Company expects to have a cash balance of $43,000 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $85,000, February $132,000 2. Payments to suppliers: January $40,000, February $50,000 * Wages: January $34,000, February $40,000. Wages are paid in the month they are incurred. Administrative expenses: January $24,000, February $31,000. These costs include depreciation of $1,000 per month. All other costs are paid...
Exercise 7-14 Blossom Company expects to have a cash balance of $57,600 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $82,600, February $157,600 2. Payments to suppliers: January $51,600, February $86,600. 3. Wages: January $31,580, February $41,580. Wages are paid in the month they are incurred 4. Administrative expenses: January $22,580, February $25,580. These costs include depreciation of $1,000 per month. All other costs are...
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...
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