Mason Company has the following projected costs for manufacturing and selling and administrative expenses: (Click the icon to view the projected costs.) Prepare a schedule of cash payments for Mason for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (Assume the company started ope January. If an input field is not used in the table leave the input field empty; do not enter a zero.) ←
Mason Company has the following projected costs for manufacturing and selling and administrative expenses: (Click the icon to view the projected costs.) Prepare a schedule of cash payments for Mason for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (Assume the company started ope January. If an input field is not used in the table leave the input field empty; do not enter a zero.) ←
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Complete the question
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
Transcribed Image Text:Mason Company has the following projected costs for manufacturing and selling and administrative expenses:
(Click the icon to view the projected costs.)
Prepare a schedule of cash payments for Mason for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (Assume the company started operations
January. If an input field is not used in the table leave the input field empty; do not enter a zero.)
Cash Payments
Direct Materials:
Accounts Payable balance, January 1
January-Direct material purchases paid in February
February-Direct material purchases paid in March
Total payments for direct materials
Direct Labor:
Total payments for direct labor
January
February
March
Total
Data table
Direct materials purchases
Direct labor costs
Depreciation on plant
Utilities for plant
Property taxes on plant
Depreciation on office
Utilities for office
Property taxes on office
Office salaries
January February
$ 3,900 $
3,400
450
550
140
300
240
190
2,500
Print
4,200 $
3,100
450
Done
550
140
300
240
190
2,500
March
All costs are paid in month incurred except: direct materials, which
are paid in the month following the purchase; utilities, which are
paid in the month after incurred; and property taxes, which are
prepaid for the year on January 2. The Accounts Payable and
Utilities Payable accounts have a zero balance on January 1.
- X
4,000
4,100
450
550
140
300
240
190
2,500
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