Quarter 1 Quarter 2 Sales $208,460 $211,540 Direct material purchases 115,295 120,831 Direct labor 75,210 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,600 33,500 Depreciation included in selling and administrative 1,500 1,000 Collections from customers 215,392 240,155 Cash payments for purchases 114,290 119,254 Additional data: Capital assets were sold in January for $9,000 and $4,400 in May. Dividends of $4,400 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $60,000. 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.

Quarter 1 Quarter 2 Sales $208,460 $211,540 Direct material purchases 115,295 120,831 Direct labor 75,210 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,600 33,500 Depreciation included in selling and administrative 1,500 1,000 Collections from customers 215,392 240,155 Cash payments for purchases 114,290 119,254 Additional data: Capital assets were sold in January for $9,000 and $4,400 in May. Dividends of $4,400 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $60,000. 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.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 4E: Prepare a cost of goods sold budget for the Crest Hills Manufacturing Co. for the year ended...

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Relevant data from the Poster Company’s operating budgets are: Quarter 1 Quarter 2 Sales $208,470 $211,538 Direct material purchases 115,295 120,833 Direct labor 75,210 73,299 Manufacturing overhead 25,400 25,200 Selling and administrative expenses 33,500 33,600 Depreciation included in selling and administrative 1,500 1,100 Collections from customers 215,393 240,154 Cash payments for purchases 114,290 119,253 Additional data:Capital assets were sold in January for $9,000 and $4,400 in May.Dividends of $4,500 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $58,000. 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 Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 $fill in the blank 2 $fill in the blank 3 Add: Cash Receipts fill in the blank 5 fill in the blank…
Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $208,460 $211,540 Direct material purchases 115,295 120,831 Direct labor 75,210 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,600 33,500 Depreciation included in selling and administrative 1,500 1,000 Collections from customers 215,392 240,155 Cash payments for purchases 114,290 119,254 Additional data: Capital assets were sold in January for $9,000 and $4,400 in May. Dividends of $4,400 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $60,000. 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 Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Beginning Cash Balance v Add: Cash Receipts Collections from Customers Other Collections Total Receipts $ Total Available Cash $ Less: Cash Payments…
Relevant data from the Poster Company’s operating budgets are: Quarter 1 Quarter 2 Sales $208,470 $211,539 Direct material purchases 115,290 120,832 Direct labor 75,205 73,299 Manufacturing overhead 25,400 25,400 Selling and administrative expenses 33,400 33,400 Depreciation included in selling and administrative 1,400 1,100 Collections from customers 215,391 240,154 Cash payments for purchases 114,300 119,253 Additional data:Capital assets were sold in January for $9,000 and $4,600 in May.Dividends of $4,400 were paid in February. The beginning cash balance was $60,359 and a required minimum cash balance is $58,000. 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 Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Beginning Cash Balance $fill in the blank 2 $fill in the blank 3 Add: Cash Receipts Collections from…
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…
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Relevant data from the Poster Company's operating budgets are: Sales Direct material purchases Direct labor Manufacturing overhead Selling and administrative expenses Depreciation included in selling and administrative Collections from customers Quarter 1 Quarter 2 Beginning Cash Balance Add: Cash Receipts Collections from Customers $208,480 $211,540 115,300 120,832 75,205 73,298 25,300 23,400 33,400 33,500 1,500 900 Cash payments for purchases Additional data: Capital assets were sold in January for $10,000 and $4,400 in May. Dividends of $4,000 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $39,000. 215,392 240,154 114,290 119,254 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. Other Collections Total Receipts Total Available Cash Less: Cash Payments Purchase of Direct Material Direct Labor Manufacturing Overhead Selling and…
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Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1 Quarter 2 Sales $248,470 $251,539 Direct material purchases 120,295 128,832 Direct labor 76,553 74,289 Manufacturing overhead 26,000 24,400 Selling and administration expenses 33,500 33,500 Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers 230,524 220,116 Cash payments for purchases 114,345 118,346 Additional data: Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank. Required: a) Use this information to prepare a cash budget for the first two quarters of the year. i) Briefly comment on Picta Company’s expected cashflow position in the first two quarters of the year.
Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1 Quarter 2 Sales $248,470 $251,539 Direct material purchases 120,295 128,832 Direct labor 76,553 74,289 Manufacturing overhead 26,000 24,400 Selling and administration expenses 33,500 33,500 Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers 230,524 220,116 Cash payments for purchases 114,345 118,346 Additional data: Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank. a) Use this information to prepare a cash budget for the first two quarters of the year. bi) Briefly comment on Picta Company’s…
Budget Performance Report for a Cost CenterThe Eastern District of Adelson Inc. is organized as a cost center. The budget for the Eastern District of Adelson Inc. for themonth ended December 31 is as follows:Sales salaries $819,840System administration salaries 448,152Customer service salaries 152,600Billing salaries 98,760Maintenance 271,104Depreciation of plant and equipment 92,232Insurance and property taxes 41,280Total $1,923,968During December, the costs incurred in the Eastern District were as follows:Sales salaries $818,880System administration salaries 447,720Customer service salaries 183,120Billing salaries 98,100Maintenance 273,000Depreciation of plant and equipment 92,232Insurance and property taxes 41,400Total $1,954,452Required:1. Prepare a budget performance report for the manager of the Eastern District of Adelson for the month of December.Enter all amounts as positive numbers. If an amount box does not require an entry, leave it blank, or enter zero "0".
Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible…
Question 3 Relevant data from Picta Company’s operating budgets are presented below. The company’s financial year ends on 30 June. Quarter 1 Quarter 2 Sales $248,470 $251,539 Direct material purchases 120,295 128,832 Direct labor 76,553 74,289 Manufacturing overhead 26,000 24,400 Selling and administration expenses 33,500 33,500 Depreciation included in selling and administration expenses 2,000 2,500 Collection from customers 230,524 220,116 Cash payments for purchases 114,345 118,346 Additional data: Equipment was sold in July for $8,000 and $4,500 in November. Dividends of $5,500 were paid in August. The beginning cash balance was $80,395 and a required minimum cash balance per quarter is $60,000. The company has a 15% open line of credit for $70 000 with their bank.…