SITXFIN009-Activity-5.v1.0 (1)

Relevant data from the Poster Company’s operating budgets are:   Quarter 1 Quarter 2 Sales $208,470 $211,539 Direct material purchases 115,290 120,832 Direct labor 75,205 73,299 Manufacturing overhead 25,400 25,400 Selling and administrative expenses 33,400 33,400 Depreciation included in selling and administrative 1,400 1,100 Collections from customers 215,391 240,154 Cash payments for purchases 114,300 119,253 Additional data:Capital assets were sold in January for $9,000 and $4,600 in May.Dividends of $4,400 were paid in February. The beginning cash balance was $60,359 and a required minimum cash balance is $58,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster Company Cash Budget For the First Two Quarters   Quarter 1 Quarter 2 Beginning Cash Balance  $fill in the blank 2 $fill in the blank 3 Add: Cash Receipts     Collections from…

Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $208,460 $211,540 Direct material purchases 115,295 120,831 Direct labor 75,210 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,600 33,500 Depreciation included in selling and administrative 1,500 1,000 Collections from customers 215,392 240,155 Cash payments for purchases 114,290 119,254 Additional data: Capital assets were sold in January for $9,000 and $4,400 in May. Dividends of $4,400 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $60,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Beginning Cash Balance v Add: Cash Receipts Collections from Customers Other Collections Total Receipts $ Total Available Cash $ Less: Cash Payments…

Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $208,460 $211,540 Direct material purchases 115,295 120,831 Direct labor 75,210 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,600 33,500 Depreciation included in selling and administrative 1,500 1,000 Collections from customers 215,392 240,155 Cash payments for purchases 114,290 119,254 Additional data: Capital assets were sold in January for $9,000 and $4,400 in May. Dividends of $4,400 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $60,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Add: Cash Receipts Total Receipts Total Available Cash Less: Cash Payments Total Cash Payments Excess (Deficiency) of Available Cash Over Cash…

S&P Enterprises needs budget for March.   Please provide excel Formulas

Relevant data from the Poster Company’s operating budgets are:   Quarter 1 Quarter 2 Sales $208,480 $211,540 Direct material purchases 115,295 120,832 Direct labor 75,210 73,298 Manufacturing overhead 25,400 25,400 Selling and administrative expenses 33,600 33,400 Depreciation included in selling and administrative 1,600 900 Collections from customers 215,393 240,156 Cash payments for purchases 114,295 119,254 Additional data:Capital assets were sold in January for $9,000 and $4,500 in May.Dividends of $4,600 were paid in February. The beginning cash balance was $60,359 and a required minimum cash balance is $59,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster CompanyCash BudgetFor the First Two Quarters

Relevant data from the Poster Company’s operating budgets are:   Quarter 1 Quarter 2 Sales $208,480 $211,540 Direct material purchases 115,300 120,832 Direct labor 75,205 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,400 33,500 Depreciation included in selling and administrative 1,500 900 Collections from customers 215,392 240,154 Cash payments for purchases 114,290 119,254 Additional data:Capital assets were sold in January for $10,000 and $4,400 in May.Dividends of $4,600 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $59,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster CompanyCash BudgetFor the First Two Quarters   Quarter 1 Quarter 2   $Beginning Cash Balance $Beginning Cash Balance Add: Cash Receipts       Collections from Customers…

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n 2 Feb. NI $1,876 -.... quarter of 2018: HOLLY COMPANY Budgeted Income Statement For the Quarter Ended March 31, 2018 Total March February Net Sales Revenue January $ 11,520 $ 29,120 (20% increase per month) $ 8,000 $ 9,600 Cost of Goods Sold (40% of sales) 11,648 3,840 4,608 3,200 Gross Profit 6,912 17,472 4,800 5,760 S&A Expenses 2,960 3,152 8,912 ($2,000 + 10% of sales) 2,800 Operating Income 3,760 8,560 2,000 2,800 Income Tax Expense (30% of operating income) 2,568 600 840 1,128 Net Income $ 1,400 $ 1,960 $ 2,632 $ 5,992 Holly Company is considering two options. Option 1 is to increase advertising by $700 per month. Option 2 is to use better-quality materials in the manufacturing process. The better materials will increase the cost of goods sold to 45% but will provide a better product at the same sales price. The marketing manager projects either option will result in sales increases of 30% per month rather than 20%. Requirements 1. Prepare budgeted income statements for both…

Sunland State sells electronic products. The controller is responsible for preparing the master budget and has accumulated the information below for the months of January, February, and March. Balances at January 1 are expected to be as follows: Cash $5,890 Accounts receivable 445,200 The budget is to be based on the following assumptions: 1. 2. 3. 4. 5. 6. Inventories Accounts payable 7. $331,100 142,400 Each month's sales are billed on the last day of the month. Customers are allowed a 3% discount if their payment is made within 10 days after the billing date. Receivables are booked a gross. The company collects 60% of the billings within the discount period, 25% by the end of the month after the date of sale, and 9% by the end of the second month after the date of sale: 6% prove uncollectible. It pays 54% of all materials purchases and the selling, general, and administrative expenses in the month purchased and the remainder in the following month. Each month's units of ending…

Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible…

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Budgeted Selling and Administrative Expenses Salary Expense Sales Commissions 5% of Sales Insurance Expense Rent Depreciation on equipment Utilities Total Operating Expenses Schedule of Cash Payments for Selling and Administrative Expenses Salary Expense 100% of Prior Month Sales Commissions Insurance Expense October November December Multiple Choice 30,000 30,500 15,000 15,500 12,000 12,000 14,400 14,400 16,500 16,500 2,100 2,300 90,000 91, 200 ? 15,100 12,000 ? 2,200 ? 30,500 ? 12,000 ? ? ? Rent 100% of Prior Months Utilities Expense Total Payments for Selling and Administrative Expenses The amount of cash paid for Selling and Administrative expenses during the month of November is: 31,000 15,300 12,000 14,400 16,500 2,500 91,700 ? ? 12,000 14,400 ?

The following budget information is available for the Arch Company for January Year 2: $1,020,000 700,000 6,000 260,000 Sales Cost of goods sold Utilities expense Administrative salaries. Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses Multiple Choice 5% of sales All operating expenses are paid in cash in the month incurred. Compute the total budgeted selling and administrative expenses (excluding interest) amount for January Year 2. $587,000 52,000 82,000 92,000 42,000

Following is Budgeted Data of R Ltd. Prepare Cash Budget  for the quarter ended 31st March 2007.   Month Sales Purchases Wages Misc.Exps November’06 1,30,000.00   98,000.00   12,000.00    8,000.00 December’06 1,50,000.00 1,10,000.00   15,000.00    9,000.00 January’07   90,000.00 1,14,000.00    9,000.00    7,000.00 February’07 1,26,000.00 1,16,000.00   12,000.00   14,000.00 March’07   98,000.00   85,000.00    8,000.00    7,000.00        Additional Information: - 1. Cash on Hand as on 1st January 2007 is Rs 5,000/-. Sales: - 20% realized in the month of sale, discount allowed 2% and balance is subsequent 2 months. 2. Purchases are paid for in the following month of supply. 3. Wages are 50% in arrears and paid in subsequent month. 4. Miscellaneous Expenses are paid a month in arrears. 5. Rent of Rs 1,000 per month is paid quarterly in advance. 6. Income Tax is due on 15th March 2007 Rs 21,500/-. 7. Interest on…

The company, a wholesaler, budgeted sales for the indicated months June                     July                       August Sales on account                           P1,800,000       P1,920,000       P2,010,000 Cash sales                                            240.000             250.000             260.000 Total sales                                       P2,010,000       P2,170,000       P2,300,000 All merchandise is marked up to sell at its invoice cost plus 25%. Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold.   1.The cost of goods sold for the month of June is anticipated to be? 2.merchandise purchases for July are anticipated to be?

paid in month of purchase: 10% paid n first month following purchase: 40% Paid in second month following purchase: 50% If budgeted purchases for April, May, and june are $30,000, $45,000 and $20,000, what is the budgeted accounts payable balance on June 30? a. 32500 b. 31000 c. 35000 d. 40500

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The information in the following table is from a company's sales budget Expected sales April May June $ 96,000 116,000 126,000 Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in June OAS118,500 O $31,500 OC$213,000 005126,000 O $87,000

Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 570 sun shades in May and 330 in June. Each shade sells for $162. Shadee's beginning and ending finished goods inventories for May are 70 and 55 shades, respectively. Ending finished goods inventory for June will be 55 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each shade requires a total of $55.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 100 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $11,000 per month, and variable manufacturing overhead is $14 per unit produced. Additional information: • Selling costs are expected to be 8…

-/1 View Policies Current Attempt in Progress Scan Design provided the following budgeted information for April through July: July June May April $104,000 $123,000 $115,000 $132,000 Projected sales Projected merchandise purchases $82,000 $92,000 $78,000 $66,000 .The cash balance on June 1 is $12,000. The company pays 40% of merchandise purchases in the month purchased and 60% in the following month. . General operating expenses are budgeted to be $31,000 per month of which depreciation is $3,000 of this amount. Management pays operating expenses in the month incurred The company makes loan payments of $4,000 per month of which $600 is interest and the remainder is principal. How much are budgeted cash disbursements for June? O $63,200. O $86,400. O $118.400. $102,800. 8:38 P 11/27/2 hp fa4+ f12 SU prt sc A delete home end & 7 num backspace lock home K 4 enter I

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Budgeted sales for the month of April are shown in the following table: April May June $500 $800 Sales Cash Sales Sales on Account The company expects a 25% Increase in sales per month for May and June. The amount of sales revenues that would appear on the company's 2nd quarter pro forma income statement would be Multiple Choice O O $4,956.25. $4,225.50. $3,050.00. $2,031.25.

Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 590 sun shades in May and 430 in June. Each shade sells for $135. Shadee's beginning and ending finished goods inventories for May are 90 and 55 shades, respectively. Ending finished goods inventory for June will be 70 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h) Each shade requires a total of $45.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 100 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $11,000 per month, and variable manufacturing overhead is $11 per unit produced. Additional information: . Selling costs are expected to be 11…

Actual pounds (9) Flexible Budget For the Month Ended August 31 Revenue ($4.189) Expenses: Packing supplies ($0.309) Oyster bed maintenance ($3,500) Wages and salaries ($2,000 + $0.459) Shipping ($0.659) Utilities ($1,250) Other ($510 + $0.019) Total expenses Net operating income The actual results for August were as follows: Quilcene Oysteria Income Statement For the Month Ended August 31 7,400 $ 30,340 2,228 3,500 5,330 4,810 1,250 584 17,694 $ 12,646 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expenses Net operating income Required: 7,400 $ 26,700 2,390 3,360 5,740 4,540 1,060 1,204 18,294 $ 8,406 Calculate the company's revenue and spending variances for August. Note: Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values. Revenue Quilcene Oysteria Revenue and Spending Variances For the…