June 30September 3084,650 feet? feete. Glden costs $0.60 per foot. One-half of a month's purchases of Gilden is pald for In the month of purchase; the remalnder Is paldfor In the following month. The accounts payable on July 1 for purchases of Glden during June will be $43,890.Requlred:1. Calculate the estimated sales, by month and In total, for the third quarter.2. Calculate the expected cash collections, by month and in total, for the third quarter.3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October.4. Calculate the quantity of Glden (in feet) that needs to be purchased by month and in total, for the third quarter.5. Calculate the cost of the raw material (Glden) purchases by month and in total, for the third quarter.6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and In total, for the third quarter.Complete this question by entering your answers In the tabs below.Req 1Req 2Req 3Req 4 and 5Req 6Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter.JulyAugustSeptember QuarterTotal cash disbursements( Req 4 and 5Reg>< Prev8 of 8Next>Maciook- FSFSFIO%23%&346.8ERYGHKCVandcommandしの Check mMilo Company manufactures beach umbrellas. The company is preparing detalled budgets for the third quarter and has assembled thefollowing Information to assist in the budget preparation:a. The Marketing Department has estimated sales as follows for the remalnder of the year (In units):25,500JulyAugustSeptember 50,000October81,000 November 12,000December 12,50035,500The selling price of the beach umbrellas is $14 per unit.b. All sales are on account. Based on past experience, sales are collected in the following pattern:30 in the month of sale65 in the month following sale58 uncollectibleSales for June totaled $420,00.c. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at theend of June.d. Each beach umbrella requires 4 feet of Glden, a material that is sometimes hard to acquire. Therefore, the company requires thatthe ending inventory of Gilden be equal to 50% of the following month's production needs. The Inventory of Gilden on hand at thebeginning and end of the quarter will be:84,650 feet2 feetJune 30September 30< Prev8 of 8Next>411『アF4FS%2324&348.9.WER.YFGJKCandcommandレつ

Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…

84,650 feet 2 feet June 30 September 30 e. Glden costs $0.60 per foot. One-half of a month's purchases of Gilden Is pald for in the month of purchase; the remalnder Is paid for In the following month. The accounts payable on July 1 for purchases of Gilden during June will be $43,890. Required: 1. Calculate the estimated sales, by month and in total, for the third quarter. 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October. 4. Calculate the quantity of Glden (In feet) that needs to be purchased by month and In total, for the third quarter. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. Complete this question by entering your answers In the tabs below. wwwww

84,650 feet 2 feet June 30 September 30 e. Glden costs $0.60 per foot. One-half of a month's purchases of Gilden Is pald for in the month of purchase; the remalnder Is paid for In the following month. The accounts payable on July 1 for purchases of Gilden during June will be $43,890. Required: 1. Calculate the estimated sales, by month and in total, for the third quarter. 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October. 4. Calculate the quantity of Glden (In feet) that needs to be purchased by month and In total, for the third quarter. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. Complete this question by entering your answers In the tabs below. wwwww

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consider the following information for a given company: Month Cash Sales Credit Sales Jan $80.000 $350,000 Feb $60,000 $200,000 Mar $50.000 $145,000 Apr $45,000 $130,000 May $55,000 $170,000 Jun $50,000 $150,000 The firm's collection pattern is as follows: 60% in the month of sale 30% one month following sale 10% two months following sale The accounts receivable balance on 1 Jan is $70,000. Of this amount, $60,000 represents uncollected Dec sales and $10,000 represents uncollected Nov sales. Required: Determine the total cash collected during Jan. (INPUT YOUR ANSWER IN THOUSANDS USING A COMMA SEPARATOR. NO ROUNDING REQUIRED. FOR EXAMPLE: 100,000)
The table contains the Sales estimates for the next year. Sales are collected as follows:In the month of Sales: 43%In the next month: 23%After 2 months: 14%After 3 months: remainder is collected What is the cash collection for November? Month Sales $ Month Sales $ Jan 28,555 July 36,215 Feb 21,027 Aug 19,907 Mar 19,907 Sep 28,555 Apr 36,215 Oct 19,907 May 28,555 Nov 21,027 June 21,027 Dec 36,215
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Sales for February of this year totaled $192,096. If the planned seasonal sales distribution is as follows, figure the dollar sales for the remaining months of the period. Round to the nearest dollar. February 10% March 14% April 16% May 18% June 14% July 12%
You collect 75% of a month's sales in the month of the sale and 25% of sales in the following month. May sales June sales July sales O $105 O $35 $120 Compute cash inflows for June. $135 $140 $100 not enough information, because sales revenue differs
Wiggles Right forecasted sales of $5,000 in October, $4,000 in November, and $4,000 in December. All sales are on credit. 40% is collected the month of sale, and the remainder the following month. How much is collected from accounts receivable in November? Group of answer choices $6,000 $4,600 $5,400 $4,800
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4 Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $525,000 for April, $535,000 for May, and $560,000 for June. Total sales for March are $500,000. Prepare a schedule of cash receipts from sales for April, May, and June, ts Book erences Sales Cash receipts from: Total cash receipts JASPER COMPANY Schedule of Cash Receipts from Sales April 525,000 May 535,000 June 560,000
The following sales and purchases are expected over the Four-month period from December to March Purchases Sales December OMR 30000 OMR 26000 January OMR 25000 OMR 30000 February OMR 24000 OMR 24000 March OMR 26000 OMR 28000 Additional Information: 1. Wages are paid each month of OMR 2000, which are paid in month that they are incurred 2. 30% of the Sales are on credit - and we allow one-month credit period - and 70% of the sales for immediate settlement 3. 40% of the Purchases are on credit - and 1 month credit period - and 60% of the purchases are for immediate settlement 4. The balance of cash as at 1 January was OMR 9000 If the company is preparing a budget from January to March, what will be the Closing balance of cash on March ? Select one: a. OMR 7800 b. OMR 7200 c. OMR 5800
The cash balance at the beginning of September is £ 20,000. ii. Actual sales for July and August and expected sales for September are as follows: July August September Cash sales £ 19,000 £ 29,000 £ 39,000 Sales on account £ 6,000 £ 8,000 £ 9,000 iii. Sales on account are collected over a three-month period as follows: 10% collected in the month of sale, 80% collected in the following sale, and 7% collected in the second month following sale. The remaining 3% is uncollectible.iv. Purchases of inventory will total £ 24,000 for September. 20% of month’s inventory purchases are paid for during the month of purchase. The accounts payable remaining from Augusts’ inventory purchases total £ 15,000, all of which will be paid in September. v. Selling and administrative expenses are budgeted at £ 13,000 for September. Of this amount £ 4,000 is for depreciation. vi. Equipment costing £ 18,000 will be purchased for cash during September, and dividends totalled £3,000 will be paid during the…
Monthly sales for the Garden Centre are shown in the table below. Garden CentreSales Forecast Month Sales January $20,000 February $22,000 March $26,000 April $30,000 May $35,000 June $40,000 The Garden Centre purchases inventory two months in advance. They pay for 50% of the merchandise the month after the purchase, and the other 50% two months after the purchase. The Garden Centre’s gross margin is 40%. What are the Garden Centre’s payments to suppliers in March? Please avoid image based solutions thank you