%24 %24 %24 %24 %24 Flint Landscaping Company is preparing its budget for the first quarter of 2022. The next step in the budgeting process is to prepare cash receipts and cash payments schedules. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is provided, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2021 and expected service revenues for 2022 are: November 2021, $124,000; December 2021,$107,000; January 2022, $140,000; February 2022, $157,000; March 2022, $175,000. Purchases of landscaping supplies are paid 40% in the month of purchase and 60% the following month. Actual purchases for 2021 and expected purchases for 2022 are: December 2021, $21,400, January 2022, $20,400; February 2022, $23,200; March 2022, $27,100. (a1) Prepare a schedules of expected collections from clients for each month in the first quarter of 2022 and for the quarter in total. (Do not leave any answer field blank. Enter 0 for amounts.) FLINTLANDSCAPING COMPANY Schedule of Expected Collections From Clients January February March Quarter er lections eTextbook and Media Attempts: 0 of 3 used Submit Anawer Save for Later (a2) The parts of tnis question must be completed in order. This part will be available when you complete the pare above The parts of this question must be completed in order-This part will be avaiahle when you complete the part above dy
%24 %24 %24 %24 %24 Flint Landscaping Company is preparing its budget for the first quarter of 2022. The next step in the budgeting process is to prepare cash receipts and cash payments schedules. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is provided, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2021 and expected service revenues for 2022 are: November 2021, $124,000; December 2021,$107,000; January 2022, $140,000; February 2022, $157,000; March 2022, $175,000. Purchases of landscaping supplies are paid 40% in the month of purchase and 60% the following month. Actual purchases for 2021 and expected purchases for 2022 are: December 2021, $21,400, January 2022, $20,400; February 2022, $23,200; March 2022, $27,100. (a1) Prepare a schedules of expected collections from clients for each month in the first quarter of 2022 and for the quarter in total. (Do not leave any answer field blank. Enter 0 for amounts.) FLINTLANDSCAPING COMPANY Schedule of Expected Collections From Clients January February March Quarter er lections eTextbook and Media Attempts: 0 of 3 used Submit Anawer Save for Later (a2) The parts of tnis question must be completed in order. This part will be available when you complete the pare above The parts of this question must be completed in order-This part will be avaiahle when you complete the part above dy
Chapter4: Financial Planning And Forecasting
Section: Chapter Questions
Problem 4P
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The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Flint Landscaping Company is preparing its budget for the first quarter of 2022. The next step in the budgeting process is to prepare
cash receipts and cash payments schedules. To that end the following information has been collected.
Clients usually pay 60% of their fee in the month that service is provided, 30% the month after, and 10% the second month after
receiving service.
Actual service revenue for 2021 and expected service revenues for 2022 are: November 2021, $124,000; December 2021,$107,000;
January 2022, $140,000; February 2022, $157,000; March 2022, $175,000.
Purchases of landscaping supplies are paid 40% in the month of purchase and 60% the following month. Actual purchases for 2021
and expected purchases for 2022 are: December 2021, $21,400, January 2022, $20,400; February 2022, $23,200; March 2022,
$27,100.
(a1)
Prepare a schedules of expected collections from clients for each month in the first quarter of 2022 and for the quarter in total.
(Do not leave any answer field blank. Enter 0 for amounts.)
FLINTLANDSCAPING COMPANY
Schedule of Expected Collections From Clients
January
February
March
Quarter
er
lections
eTextbook and Media
Attempts: 0 of 3 used
Submit Anawer
Save for Later
(a2)
The parts of tnis question must be completed in order. This part will be available when you complete the pare above
The parts of this question must be completed in order-This part will be avaiahle when you complete the part above
dy
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