April Manufacturing costs* $156,800 $195,200 $217,600 May June Insurance expense** 1,000 1,000 1,000 Depreciation expense 2,000 2,000 2,000 Property tax expense*** 500 500 500
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- Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs (1) $157,000 $198,000 $204,000 Insurance expense (2) 1,040 1,040 1,040 Depreciation expense 2,130 2,130 2,130 Property tax expense (3) 450 450 450 (1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.(2) Insurance expense is $1,040 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).(3) Property tax is paid once a year in November.The cash payments for Finch Company expected in the month of June are a.$49,500 b.$252,000 c.$153,000 d.$202,500Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs* $160,000 $199,000 $206,600 Insurance expense** 1,050 1,050 1,050 Depreciation expense 2,160 2,160 2,160 Property tax expense*** 540 540 540 *Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.**Insurance expense is $1,050 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are a.$189,250 b.$229,250 c.$40,000 d.$149,250Dunaway Company reports the following costs for the year: How much are Dunaway’s period Costs? $250,000 $270 000 $345,000 $175,000
- Extracts from Annual Accounts of Jennifer Limited $Inventories: Raw materials 108 000Work in progress 75 600Finished goods 86 400Purchases of raw materials 518 400Cost of production 675 000Cost of goods sold 756 000Sales 864 000Accounts receivables 172 800Accounts payables 86 400 Calculate the length of the working capital cycle or net operating cycle (assume 365 daysin the year).Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs* $156,800 $195,200 $217,600 Insurance expense** 1,000 1,000 1,000 Depreciation expense 2,000 2,000 2,000 Property tax expense*** 500 500 500 *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month.**Insurance expense is $1,000 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October).***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are a.$120,600 b.$123,100 c.$121,100 d.$122,600Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs* $156,800 $195,200 $217,600 Insurance expense** 1,000 1,000 1,000 Depreciation expense 2,000 2,000 2,000 Property tax expense*** 500 500 500 *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $1,000 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October).***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are Group of answer choices $120,600 $123,100 $121,100 $122,600
- Company XYZ made total sales of $250,000 during the month of December. The company also incurred total expenses of $210,000. Of that amount 60% was fixed expenses. Company XYZ expects sales to increase by 13% next month. What is the expected operating profit, in ($) value, next month?Select one:a. 45,200b. 61,580c. None of the given answersd. 166,000e. 40,000Company XYZ made total sales of $250,000 during the month of December. The company also incurred total expenses of $50,000. Of that amount 60% was fixed expenses. Company XYZ expects sales to increase by 16% next month. What is the expected operating profit, in (S) value, next month? Select orie: O a None of the given answers O b. 200,000 O c 230,000 O d. 232,000 O e. 236,800Company XYZ made total sales of $250,000 during the month of December.The company also incurred total expenses of $170,000. Of that amount 60% was fixed expenses . Compay XYZ expect sales to increase by 11% next month .What is the expected operating profit, in ($) value , next month ? a) 100,020b) 88,800c) none of the given answersd) 80,000e) 182,000
- CASE 1 The following are the information obtained from AMC Company:July August SeptemberCash Sales P24,000 P32,000 P36,000Credit Sales 220,000 300,000 240,000Purchases 180,000 240,000 220,000Operating Expenses 30,000 36,000 32,000Interest Expense - 4,000 -Credit sales are collected 50% in the month of sale, 40% in the month following, 8% in the second monthfollowing, and 2% uncollectible. Credit sales for May and June are expected to be P200,000 and P180,000,respectively. Purchases of merchandise, all on account, are paid 60% in the month of purchase and 40% in themonth following. Purchases for June are estimated at P160,000. Expenses include depreciation of P4,000monthly and are paid in the month incurred. The cash balance on June 30, 201A is P54,000.Required: Prepare a cash budget by month for the quarter ending September 30, 201A. Support your solutionwith schedules of cash receipts and cash payments CASE 2 Sanchez Company, a wholesaler, budgeted the following sales for the…Dunne Co. sells equipment service contracts that cover a twoyear period. The sales price of each contract is $600. Dunne's past experience is that, of the total dollars spent for repairs on service contracts, 40% is incurred evenly during the first contract year and 60% evenly during the second contract year. Dunne sold 1,000 contracts evenly throughout the 2020. 1. What is the contract revenue for 2020? a. 120,000 b. 240,000 c. 300,000 d. 150,0002. What amount should be reported as deferred service revenue on December 31,2020? a. 540,000 b. 480,000 c. 360,000 d. 300,0003. What is the contract revenue for 2021? a. 180,000 b. 360,000 c. 300,000 d. 120,0004. What is the contract revenue for 2022? a. 240,000 b. 360,000 c. 180,000 d. 0Q1 Irfan Corporation contribution margin ratio is 22% and its fixed monthly expenses are Rs. 54,000. If the company's sales for a month are Rs. 425,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expenses do not change. Q2Anwer Manufacturing had the following information in its records at the end of the year: Predetermined overhead rate 140% of direct labor costs Estimated direct labor costs 87,500 Actual direct labor costs 84,000 Manufacturing Overhead 15,000 17,000 80,000 What was the balance in Manufacturing Overhead?