Bramble Company's budgeted sales and direct materials purchases are as followsBudgetedSalesBudgeted D.M. PurchasesJanuary$192,000$28.800February211,20034,560March240,00036,480Bramble's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale. 50% in the month following sale, and36% in the second month following sale; 4% are uncollectible. Bramble's purchases are 50% cash and 50% on account. Purchases onaccount are paid 40x in the month of purchase, and 60% in the month following purchase.(a)Prepare a schedule of expected collections from customers for MarchBRAMBLE COMPANYSchedule of Expected Collections from CustomersMarch%$4Total collections(b)Prepare a schedule of expected payments for direct materials for MarchBRAMBLE COMPANYSchedule of Expected Payments for Direct MaterialsMarchTotal payments

The question is based on the concept of Cost Accounting.

Bramble Compay's budgeted sales and direct materials purchases are ans follows Budgeted Budgeted D.M. Purchases Sales 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 following sale, and

Bramble Compay's budgeted sales and direct materials purchases are ans follows Budgeted Budgeted D.M. Purchases Sales 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 following sale, and

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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