75,000300,000400,000550,000МayJuneJulyDecemberJanuaryFebruaryMarch725,000475,000300,000000,arbloe aboog lo teoCollection estimates obtained from the credit and collection departments are as follows20% of peso sales will be collected in the month of sale; 60% will be collected the monfollowing the sale; and 20% will be collected two months following the sale.Wages and materials costs related to production, and hence to sales. The productiondepartment has estimated theses costs as follows:ni anjP175,000 ni d April dee ylu MayDecemberP425,000175,00075,000January175,000250,000FebruaryMarchJune275,000 iwoliol odi niri ni lNote, however, that payments for wages and materials are typically paid during themonth following the one in which the costs are incurred.Administrative salaries are projected at P25,000 a month; lease payments amounP20,000 a month; depreciation expenses are P30,000 per month; and miscellaneous overheadexpenses total P10,000 a month. Quarterly tax payments of P125,000 must be made in Mardand June; and P250,000 will be needed in April to purchase a new fabric cutting machine.The company expects the firm to have P50,000 on hand at the beginning of January, andshe wants to start each month with that amount on hand. As Jill's assistant, you have beenasked to assist her by completing the following tasks.eemiteInstructions:1. Construct the collections worksheet for the months of January through June.2. Construct the remainder of the cash budget for the months of January through June.3. What is Swimwear's maximum loan requirement?4. What is the firm's maximum surplus balance? Cloie Boel, financial manager of Swimwear, Inc., is currently forecasting the company'sa needs for the first half of next year. Swimwear's sales are highly seasonal, with most of itss occurring in the spring, just prior to the summer swimming season. The firm's marketingpurtment forecasts sales as follows:Chapter 7 Business Planning and Short-Term Budgetary SystemsNovemberP 50,000AprilMayJuneJulyP925,000725,000475,000300,000December75,000300,000laJanuaryFebruaryMarch400,000550,000000 S000 aCollection estimates obtained from the credit and collection departments aré as follows20% of peso sales will be collected in the month of sale; 60% will be collected the monfollowing the sale; and 20% will be collected two months following the sale.Wages and materials costs related to production, and hence to sales. The production

Hi student Since there are multiple subparts, we will answer only first three subparts.

Inuooos to Instructions: 1. Construct the collections worksheet for the months of January through June. 2. Construct the remainder of the cash budget for the months of January through June. 3. What is Swimwear's maximum loan requirement?

Inuooos to Instructions: 1. Construct the collections worksheet for the months of January through June. 2. Construct the remainder of the cash budget for the months of January through June. 3. What is Swimwear's maximum loan requirement?

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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