Bramble Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $192,000 $28,800 February 211,200 34,560 March 240,000 36,480 Bramble's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month follow 36% in the second month following sale; 4% are uncollectible. Bramble's purchases are 50% cash and 50% on account. Pu account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March. BRAMBLE COMPANY Schedule of Expected Collections from Customers $ March
Bramble Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $192,000 $28,800 February 211,200 34,560 March 240,000 36,480 Bramble's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month follow 36% in the second month following sale; 4% are uncollectible. Bramble's purchases are 50% cash and 50% on account. Pu account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March. BRAMBLE COMPANY Schedule of Expected Collections from Customers $ March
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 45BEB: Pilsner Inc. purchases raw materials on account for use in production. The direct materials...
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