Homework Answers
| Nieto Company | |||
| Expected collections from customers | Calculation | ||
| Req A | March | March | |
| March Cash sales | 89,370 | =297,900*30% | |
| Jan Credit sales collections | 64,764 | =257,000*70%*36% | |
| Feb Credit sales collections | 97,020 | =277,200*70%*50% | |
| March Credit sales collections | 20,853 | =297,900*70%*10% | |
| Total collections | 272,007 | ||
| Expected payments for Direct Materials | |||
| Req B | March | March | |
| March Cash Purchases | 25,750 | =51,500*50% | |
| Feb Credit Purchases payments | 11,250 | =37,500*50%*60% | |
| March Credit Purchases payments | 10,300 | =51,500*50%*40% | |
| Total payments | 47,300 |
Add Answer to:
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $251,000 $35,100 February 282,800 40,100 March 342,600 46,700 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales $251,000 $32,200 January February 238,100 45,300 March 299,600 38,300 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January Budgeted D.M....
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January Budgeted D.M. Purchases $35,000 49,400 38,500 $266,000 286,100 251,900 February March Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Exercise 21-17 Nieto Company's budgeted sales and direct materiais purchases are as follows Budgeted Sales Budgeted...
Exercise 21-17 Nieto Company's budgeted sales and direct materiais purchases are as follows Budgeted Sales Budgeted D.M Purchases January $256,500 $32.700 February 277,200 37.500 March 297,900 51.500 dy Nieto's sales are 30% cash and 70% credit. Credit ses are collected in the month of sale, so in the month following sale, and 16% in the second month following sale: 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month...
Exercise 22-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January...
Exercise 22-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January February March $237,000 227,300 284,800 Budgeted D.M. Purchases $36,500 43,100 42,900 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month...
Nieto Company’s budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Nieto Company’s budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $257,000 $40,500 February 294,900 37,800 March 257,100 50,800 Nieto’s sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto’s purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company’s budgeted sales and direct materials purchases are as follows. Nieto’s sales are 30% cash...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Nieto’s sales are 30% cash and 70% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Nieto’s purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase, and 60%
in the month following purchase.
prepare a schedule of expected collections from...
Hagen Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Hagen Company's budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases
January
$300,000
$60,000
February
330,000
70,000
March
350,000
80,000
Hagen's sales are 40% cash and 60% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Hagen's purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase,...
Johnson Company's budgeted sales and direct materials purchases are as follows: Budgeted Sales Budgeted D.M. Purchases...
Johnson Company's budgeted sales and direct materials purchases are as follows: Budgeted Sales Budgeted D.M. Purchases _________________________________________________________________________________ January $251,000 $35,100 February $282,800 $40,100 March $342,600 $46,700 Johnson's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the following sale, and 36% in the second month following sale; 4% are uncollectible. Johnson's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company’s budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases
January
$278,000
$39,600
February
307,100
42,900
March
283,600
42,000
Nieto’s sales are 30% cash and 70% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Nieto’s purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $251,000 $35,100 February 282,800 40,100 March 342,600 46,700 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales $251,000 $32,200 January February 238,100 45,300 March 299,600 38,300 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account Purchases on account are paid 40% in the month of purchase,...
Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January Budgeted D.M. Purchases $35,000 49,400 38,500 $266,000 286,100 251,900 February March Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase,...
Exercise 21-17 Nieto Company's budgeted sales and direct materiais purchases are as follows Budgeted Sales Budgeted D.M Purchases January $256,500 $32.700 February 277,200 37.500 March 297,900 51.500 dy Nieto's sales are 30% cash and 70% credit. Credit ses are collected in the month of sale, so in the month following sale, and 16% in the second month following sale: 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month...
Exercise 22-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales January February March $237,000 227,300 284,800 Budgeted D.M. Purchases $36,500 43,100 42,900 Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Nieto’s sales are 30% cash and 70% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Nieto’s purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase, and 60%
in the month following purchase.
prepare a schedule of expected collections from...
Hagen Company's budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases
January
$300,000
$60,000
February
330,000
70,000
March
350,000
80,000
Hagen's sales are 40% cash and 60% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Hagen's purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase,...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases
January
$278,000
$39,600
February
307,100
42,900
March
283,600
42,000
Nieto’s sales are 30% cash and 70% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Nieto’s purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase,...
Most questions answered within 3 hours.
-
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 33 minutes ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 48 minutes ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 53 minutes ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 56 minutes ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 56 minutes ago -
Why are polymers not typically casted into products?
asked 1 hour ago -
When rolling a die 129 times, what is the probability of rolling
a 6 no more...
asked 1 hour ago -
4. A call option currently sells for $7.75. It has a strike
price of $85 and...
asked 1 hour ago -
1.
You need to prepare 10.0 liters of an acid aqueous solution with a
pH of...
asked 1 hour ago -
Along an aggregate supply curve, if the level of output is less
than the natural level...
asked 1 hour ago -
By 2025, annual consumption in emerging markets will total $30
trillion and contribute more than ________...
asked 1 hour ago -
At what point does reformation cease to be a viable option for
those who are oppressed...
asked 1 hour ago