cash budget
Q: he controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the…
A: SOLUTION- WORKING- 1-CASH RECEIPT FROM ACCOUNTS RECEIVABLE- PARTICULARS SEP OCT NOV CREDIT…
Q: Parlee Company's sales are 30% in cash and 70% on credit. Sixty % of the credit sales are collected…
A: Cash sales for april = Total sales for april x 30% = 30000 x 30% = 9000
Q: The controller of Sonoma Housewares Inc. instructs you to prepare a manthly cash budget for the next…
A: Calculate the amount received from accounts receivables as follows: In May: The amount received…
Q: J Incorporated is preparing their cash budget and the following data were made available: - Sales…
A: Cash budget of the business shows all expected cash receipts and cash payments to be made in future…
Q: Bernard Creighton is the controller for Creighton Hardware Store. In putting together the cash…
A: A cash budget is budget of expected cash receipts and disbursements during a period. It includes…
Q: Parlee Company's sales are 30% in cash and 70% on credit. Sixty percent of the credit sales are…
A: Formula: Cash sales value = Total sales x Cash sale Percentage Multiplying total sales with cash…
Q: Nizwa Pharmacy is developing its fourth-quarter monthly cash budget for 2021. On nvestigation, the…
A: This question deals with the concept of cash budget. Cash collection is a part of cash budget and…
Q: The controller of Bridgeport Housewares Inc. Instructs you to prepare a monthly cash budget for the…
A: Cash Budget is an account generated by a manufacturing firm to check for the inflows and outflows of…
Q: XYZ company is preparing its cash budget for the first quarter of. the year. It has $10,000 in cash…
A: Budgeted total cash payment = Inventory purchase + other operating expenses - depreciation = $25,000…
Q: he controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the…
A: Cash budget shows the opening cash and cash receipts and cash payments and closing cash balances.
Q: The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the…
A: Cash budget refers to an estimation of cash inflows and outflows in a business over a specified…
Q: The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next…
A: What is meant by budgeting? It is the method of forecasting the future inflows and outflows of an…
Q: Golden Corporation is preparing its cash budget for the next year. Sales are expected to be at…
A: The budget is prepared to estimate the requirements for the future period. The cash budget is…
Q: Bernard Creighton is the controller for Creighton Hardware Store. In putting together the cash…
A: Balance sheet: Balance Sheet is one of the financial statements that summarize the assets, the…
Q: Golden Corporation is preparing its cash budget for the next year. Sales are expected to be at…
A: January February March April Budgeted sales P100,000 200000 300000 100000 Cash sales (50%)…
Q: La Famiglia Pizzeria provided the following information for the month of October: Sales are…
A: Cash budget is prepared to assess the cash surplus or shortage expected in the budgeted period. This…
Q: The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the…
A: A cash budget is a plan of expected cash receipts and disbursements during the given period.
Q: La Famiglia Pizzeria provided the following information for the month of October: Sales are…
A: A budget is a forecast which is presented for assessment of the expected financial position of the…
Q: Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted…
A:
Q: XYZ company is preparing its cash budget for the first quarter of the year. It has $10,000 in cash…
A: Answer: with formula:
Q: Butterfly Limited has finalised its budget for 20X8 and sales are anticipated to be £243,600 in…
A: This question is related to the cash budget. In this question, we have to show the concept of all…
Q: Thornton, Inc. has budgeted sales for the months of September and October at $300,000 and $270,000,…
A: A cash budget is an estimation of expected cash receipts and disbursements on the basis of past…
Q: STAY HOME! Enterprises has budgeted sales for the months of September and October at $300,000 and…
A: Budgeting - Budgeting is the assumption made by the company to estimate future sales and other…
Q: The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next…
A: Cash budget is a budget that is prepared to estimate the cash inflows and cash outflows for a…
Q: Your Company's sales are 20% in cash and the rest on credit. Forty-five percent of the credit sales…
A: Working Note: Credit sales % = 100 - cash sales % = 100% - 20% = 80%
Q: LOL CORP. collects 20% of a month's sales in the month of sale, 70% in the month following sale, and…
A: In many cases, companies sell its goods on credit. In such cases, realization of cash from its…
Q: Construct a single month's cash budget with the information given and determine the total…
A: Cash budget: A cash budget is a budget prepared by the company for analysing the future cash…
Q: Corp’s budgeted monthly sales are P5,000, and they are constant from month to month. 40% of its…
A: The cash budget is prepared by the management to estimate the expected cash receipt and cash…
Q: ZT Corporation's budgeted monthly sales are $3,000. Forty percent of its customers pay in the first…
A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash…
Q: Farmerlands Enterprises has budgeted sales for the months of September and October at $300,000 and…
A: Total Sales = Cash Sales +Credit Sales
Q: Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted…
A: Credit sales refers to the purchases made by the customers who does not make the full cash payment…
Q: Seventy percent of Parlee Corporation's sales are collected in the month of sale, 25% in the month…
A: Budgeting process can be defined as the process of predicting company's performance in the future…
Q: Pasta Disasta, Inc. is preparing its master budget for its first quarter of business. It expects to…
A: Formula: Total no. of pizza purchased = (No. of pizza sold per month x no. of months) + Ending…
Q: J Incorporated is preparing their cash budget and the following data were made available: - Sales…
A: In this question, we are required to formulate a table and calculate the cash balance for the…
Q: Bernard Creighton is the controller for Creighton Hardware Store. In putting together the cash…
A:
Q: Ceres Space Corporation’s allotted a budgeted monthly sales are P3,000. In this case, forty percent…
A: One of the responsibilities of the finance manager is to manage the working capital (WC). Cash is…
Q: Butterfly Limited has finalised its budget for 20X8 and sales are anticipated to be £243,600 in…
A: A sales budget is a financial projection of a company's total sales over a given period of time.…
Q: ZT Corporation's budgeted monthly sales are $3,000. Forty percent of its customers pay in the first…
A: amount paid in first month = 0.40 * 3000*(1 - 2%) = 1176 amount paid in second month = 0.60 * 3000 =…
Q: Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single…
A: Income statement: The financial statement which reports revenues and expenses from business…
Q: XYZ company is preparing its cash budget for the first quarter of the year. It has $10,000 in cash…
A: The cash budget is prepared to project the cash inflows and cash outflows for a particular period.
Q: Thirty percent of Sharp Company's sales are for cash and 70% are on account. Sixty percent of the…
A: Budgeting is a tool which is used on the process of planning and controlling the operational…
Q: Bagel Company is preparing its cash budget for the upcoming month. The beginning cash balance for…
A: Cash budget means the statement which shows the expected cash available for distribution including…
Q: XYZ company is preparing its cash budget for the first quarter of the year. It has $10,000 in cash…
A: Cash available=Opening balance+Cash collections=$10,000+$28,000=$38,000
Q: Forty percent of Soft Company’s sales are for cash and 60% are on account. Fifty percent of the…
A: The cash receipt includes the cash received by the sale of the asset and it does not include the…
Q: Nogueiras Corp's budgeted monthly sales are $8,500, and they are constant from month to month. 40%…
A: Cash Budget for the Current Month Receipts Amount in $ Net Cash Sales 3332 Collection…
Q: Your Company's sales are 40% in cash and the rest on credit. Fifty percent of the credit sales are…
A: Sales budget is a financial plan about how the resources should be used to obtain forecasted sales.
Q: The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the…
A: Bridgeport Housewares Inc. Cash Budget For the Three Months Ending November 30 September…
Q: Astor Manufacturing has the following budgeted sales: January $120,000, February $180,000, and March…
A: Collections during March will be: Cash Sales of March 50% of Credit sales of March 50% of Credit…
ZT Corporation's budgeted monthly sales are $3,000. Forty percent of its customers pay in the first month and take the 2 percent discount. The remaining 60 percent pay in the month following the sale and don't receive a discount. Purchases for next month's sales are constant each month at $1,500. Other payments for wages, rent, and taxes are constant at $700 per month. Construct a single month's
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- A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and the remainder are credit sales. The company finds that typically 10 percent of a months credit sales are paid in the month of sale, 70 percent are paid the next month, and 15 percent are paid in the second month after sale. Expected cash receipts in July are budgeted at what amount? a. 114,520 b. 143,150 c. 145,720 d. 156,000The sales department of Macro Manufacturing Co. has forecast sales for its single product to be 20,000 units for June, with three-quarters of the sales expected in the East region and one-fourth in the West region. The budgeted selling price is 25 per unit. The desired ending inventory on June 30 is 2,000 units, and the expected beginning inventory on June 1 is 3,000 units. Prepare the following: a. A sales budget for June. b. A production budget for June.Cash budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent 50,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Current assets as of September 1 include cash of 40,000, marketable securities of 75,000, and accounts receivable of 300,000 (60,000 from July sales and 240,000 from August sales). Sales on account for July and August were 200,000 and 240,000, respectively. Current liabilities as of September 1 include 40,000 of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of 55,000 will be made in October. Bridgeports regular quarterly dividend of 25,000 is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of 50,000. Instructions Prepare a monthly cash budget and supporting schedules for September, October, and November. On the basis of the cash budget prepared in part (1), what recommendation should be made to the controller?
- Cash Budget The controller of Feinberg Company is gathering data to prepare the cash budget for July. He plans to develop the budget from the following information: a. Of all sales, 40% are cash sales. b. Of credit sales, 45% are collected within the month of sale. Half of the credit sales collected within the month receive a 2% cash discount (for accounts paid within 10 days). Thirty percent of credit sales are collected in the following month; remaining credit sales are collected the month thereafter. There are virtually no bad debts. c. Sales for the second two quarters of the year follow. (Note: The first 3 months are actual sales, and the last 3 months are estimated sales.) d. The company sells all that it produces each month. The cost of raw materials equals 26% of each sales dollar. The company requires a monthly ending inventory of raw materials equal to the coming months production requirements. Of raw materials purchases, 50% is paid for in the month of purchase. The remaining 50% is paid for in the following month. e. Wages total 105,000 each month and are paid in the month incurred. f. Budgeted monthly operating expenses total 376,000, of which 45,000 is depreciation and 6,000 is expiration of prepaid insurance (the annual premium of 72,000 is paid on January 1). g. Dividends of 130,000, declared on June 30, will be paid on July 15. h. Old equipment will be sold for 25,200 on July 4. i. On July 13, new equipment will be purchased for 173,000. j. The company maintains a minimum cash balance of 20,000. k. The cash balance on July 1 is 27,000. Required: Prepare a cash budget for July. Give a supporting schedule that details the cash collections from sales.Before the year began, the following static budget was developed for the estimated sales of 50,000. Sales are higher than expected and management needs to revise its budget. Prepare a flexible budget for 100,000 and 110,000 units of sales.Cash budget The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: The company expects to sell about 10% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month after sale). Depreciation, insurance, and property tax expense represent 12,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in February, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Current assets as of June 1 include cash of 42,000, marketable securities of 25,000, and accounts receivable of 198,000 (150,000 from May sales and 48,000 from April sales). Sales on account in April and May were 120,000 and 150,000, respectively. Current liabilities as of June 1 include 13,000 of accounts payable incurred in May for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of 24,000 will be made in July. Mercury Shoes regular quarterly dividend of 15,000 is expected to be declared in July and paid in August. Management desires to maintain a minimum cash balance of 40,000. Instructions Prepare a monthly cash budget and supporting schedules for June, July, and August. On the basis of the cash budget prepared in part (1), what recommendation should be made to the controller?
- Before the year began, the following static budget was developed for the estimated sales of 100,000. Sales are sluggish and management needs to revise its budget. Use this information to prepare a flexible budget for 80,000 and 90,000 units of sales.Eastman, Inc., manufactures and sells three products: R, S, and T. In January, Eastman, Inc., budgeted sales of the following. At the end of the year, actual sales revenue for Product R and Product S was 3,075,000 and 3,254,000, respectively. The actual price charged for Product R was 25 and for Product S was 20. Only 10 was charged for Product T to encourage more consumers to buy it, and actual sales revenue equaled 540,000 for this product. Required: 1. Calculate the sales price and sales volume variances for each of the three products based on the original budget. 2. Suppose that Product T is a new product just introduced during the year. What pricing strategy is Eastman, Inc., following for this product?Carmichael Corporation is in the process of preparing next years budget. The pro forma income statement for the current year is as follows: Required: 1. What is the break-even sales revenue (rounded to the nearest dollar) for Carmichael Corporation for the current year? 2. For the coming year, the management of Carmichael Corporation anticipates an 8 percent increase in variable costs and a 60,000 increase in fixed expenses. What is the break-even point in dollars for next year? (CMA adapted)
- Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and 18,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $18 per hour. Desired inventory levels are: Â Prepare a sales budget, production budget. direct materials budget for silicon and solution, and a direct labor budget.TIB makes custom guitars and prepared the following sales budget for the second quarter It also has this additional information related to its expenses: Direct material per unit $55, Direct labor per hour 20, Variable manufacturing overhead per hour 3.50, Fixed manufacturing overhead per month 3,000, Sales commissions per unit 20, Sales salaries per month 5,000, Delivery expense per unit 0.50, Utilities per month 4,000. Administrative salaries per month 20,000, Marketing expenses per month 8,000, Insurance expense per month 11,000, Depreciation expense per month 9,000. Prepare a sales and administrative expense budget for each month in the quarter ended June 30. 2018.Pilsner Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account: Pilsner typically pays 25% on account in the month of billing and 75% the next month. Required: 1. How much cash is required for payments on account in May? 2. How much cash is expected for payments on account in June?
