Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. B D 1 July $64,000 August $80,000 September 2 Budgeted sales 3 Budgeted cash payments for Direct materials Direct labor Factory overhead $48,000 4 16,160 4,040 20,200 13,440 3,360 16,800 13,760 3,440 17,200 5 6 Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in loans payable. A minimum

Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. B D 1 July $64,000 August $80,000 September 2 Budgeted sales 3 Budgeted cash payments for Direct materials Direct labor Factory overhead $48,000 4 16,160 4,040 20,200 13,440 3,360 16,800 13,760 3,440 17,200 5 6 Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in loans payable. A minimum

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

help completing this cash budget
Cost of the investment $ 52,000 Annual cost savings $ 16,000 Estimated salvage value $ 8,000 Life of the project 5 years Discount rate 13 % The net present value of the proposed investment is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice $8,616 $4,272 $4,344 $28,000
Budgeted sales are: M h August September $13,000 October $20,000 November $16,000 December $11,000 You collect 50% of sales revenue as cash in the month of the sale, 30% in the following month, and 20% two months after the sale. Sales revenue $15,000 a) Compute budgeted cash inflows for October and November: October = $(No Response) November = $(No Response) Remember to go backwards in time: e.g., 30% of September revenue is collected in the following month (October). This implies that cash inflows for October include 3 b) According to the income statement, a firm is profitable in the current year. Can the firm run out of cash during the year? Ο NO O YES What are some examples of how a firm could run out of cash? (select all that apply) Rapid sales growth: A firm incurs many cash outflows in advance to generate sales (e.g., salaries, payments to suppliers), and it collects cash inflows from sales wi increase cash outflows today, but the corresponding cash inflows will increase with a…
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…
Production Budget Direct Mtls Budget Sales Budget Direct Lbr Budget Factory OH Selling Exp Admin Exp Budget Cost of Goods Sold Income Budget Budget Statement Requirement Prepare the Direct Materials Budget for Wisniewski Inc. Company. Company policy calls for a given quarter's ending raw materials inventory to equal 50% of next quarter's expected materials needed for production. The prior year-end inventory is 5,796 lbs of materials, which complies with the policy. The company expects to have 10,080 lbs. of materials in inventory at year-end. The product's manufacturing cost is $211 per unit, including per unit costs of $84 for materials (6 lbs. at $14 per Ib.), $96 for direct labor (4 hours x $24 direct labor rate per hour), $19 for variable overhead, and $12 for fixed overhead. Show less A Wisniewski Inc. Direct Materials Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr. Total Budgeted production (units) Materials requirements per unit 1,932…
Blossom Bakery has budgeted sales revenues as follows: Credit sales Cash sales Total sales April $45,900 12,240 $58,140 April $34,680 May 37,740 Past experience indicates that 40% of the credit sales will be collected in the month of sale, and the remaining 60% will be collected in the following month. Purchases of inventory are all on credit, and 20% will be paid in the month of purchase with the balance paid in the month following purchase. Budgeted inventory purchases are: Other budgeted amounts include: (a) selling and administrative expenses of $25,296 each month and (b) dividends of $8,364 to be paid in May. Included in the selling and administrative expenses is depreciation expense of $1,938. Beginning Cash Balance Add The company wishes to maintain a minimum cash balance of $4,080 at the end of each month. The company borrows money from the bank at 4% interest if necessary to maintain the minimum cash balance. Borrowed money is repaid in months when there is an excess cash…
Input Data (USD) Budgeted sales April (units) May (units) June (units) July (units) August (units) Selling Price/unit Cash collection pattern Month of sale Following month Uncollectible Cash payments for materials Month of purchase Following month Production requirements Raw material per unit (lb) Raw mat. cost per lb Direct labor hours per unit Direct labor rate per hour Variable MOHD per DL hour Fixed MOHD per month Depreciation in Fixed MOHD Selling & administrative costs Variable S&A cost per unit sold Fixed S&A cost per month Depreciation in Fixed S&A cost Other cash outflows Cash dividends paid each month Equipment purchases May Equipment purchases June Desired ending inventory Finished Goods Raw Materials Cash (S) Beginning account balances - March 31 Cash (S) Accounts Receivable ($) Finished Goods inventory FG cost per unit FG inventory (units) Raw Materials inventory Raw Materials (lb) Accounts Payable ($) Land Buildings and equipment Accumulated Depreciation Common stock…
Please do not give solution in image format thanku
Fill in the missing information from the following schedules: Sales Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Expected sales (units) 7,600 8,300 8,700 9,100 fill in the blank 1 Sales price per unit $45 $50 $50 $56 Total sales revenue $342,000 $415,000 $435,000 $fill in the blank 2 $fill in the blank 3 Production Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Q1, Year 2 Expected sales 7,600 8,300 8,700 9,100 7,900 Desired ending inventory 1,660 1,740 1,820 fill in the blank 4 900 Total required units 9,260 10,040 10,520 10,680 8,800 Less: Beginning inventory 1,520 1,660 1,740 1,820 1,580 Required production 7,740 8,380 8,780 fill in the blank 5 7,220 Total fill in the blank 6 Direct Materials Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Units to be produced 7,740…
of 2 ook rint rences- Required information [The following information applies to the questions displayed below] Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: Budgeted sales Budgeted cash payments for Direct materials Direct labor Overhead Sales Cash receipts from: July $ 63,500 Total cash receipts 16,260 4,140 20,300 Sales to customers are 25% cash and 75% on credit. Sales in June were $57,000. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $17,000 in cash and $5,100 in loans payable. A minimum cash balance of $17,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $17,000. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. Any preliminary cash balance above $17,000 is used to repay loans at month-end. Expenses are paid in the month incurred and consist of sales commissions (10% of…
Current Attempt in Progress Nieto Company's budgeted sales and direct materials purchases are as follows. January February March Budgeted Sales $237,000 227,300 284,800 (b) 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. (a) Prepare a schedule of expected collections from customers for March. March cash sales Total collections Budgeted D.M. Purchases $36,500 43,100 42,900 NIETO COMPANY Expected Collections from Customers Total payments > Prepare a schedule of expected payments for direct materials for March. NIETO COMPANY Expected Payments for Direct Materials March $ $ 85,440 March
Weather Change, Co. reports the following information from its sales budget: Budgeted sales (units) July 18,000 August 19,200 September 20,400 October 21,800 November 24,100 December 25,900 The budgeted sales price per unit is $72. The company desires each month’s ending finished goods inventory to equal 15% of the following month’s sales, and the company desires each month’s ending raw materials inventory to equal 25% of the following month’s budgeted production needs. Each unit of output requires 8 grams of materials and each gram of material costs $2.00. The firm budgets that each unit will take 2.5 hours to complete and the labor rate is $14.00 per DL hour. Variable factory overhead is estimated to be $3.00 per DL hour. There is no fixed factory OH. The budgeted variable selling, general, and administrative expenses are $2.00 per unit sold and the budgeted fixed selling, general, and administrative expenses are $89,450 total per…

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS