The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: January $215,000 February $235,000 March Sales $258,000 Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales 24 b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales 24 c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Cash collections January February March

The following is the sales budget for Yellowhead Inc. for the first quarter of 2018: January $215,000 February $235,000 March Sales $258,000 Credit sales are collected as follows: 55% in the month of the sale, 30% in the month after the sale, and 15% in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $99,000 ($69,000 of which was uncollected December sales). a. Calculate the sales for November. (Omit $ sign in your response.) November sales 24 b. Calculate the sales for December. (Round the final answer to 2 decimal places. Omit $ sign in your response.) December sales 24 c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) Cash collections January February March

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 14.1E: Budget performance reports for cost centers Partially completed budget performance reports for...

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eBook Show Me How Question Content Area Budget Performance Reports for Cost Centers Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar CompanyBudget Performance Report—Vice President, ProductionFor the Month Ended June 30 Plant Actual Budget OverBudget (Under)Budget Eastern Region $561,500 $561,500 $0 Central Region 400,300 404,300 (4,000) Western Region (g) (h) (i) $(j) $(k) $(l) $(4,000) Delmar CompanyBudget Performance Report—Manager, Western Region PlantFor the Month Ended June 30 Department Actual Budget OverBudget (Under)Budget Chip Fabrication $(a) $(b) $(c) Electronic Assembly 72,400 71,470 930 Final Assembly 114,150 115,070 $(920) $(d) $(e) $(f) $(920) Delmar CompanyBudget Performance Report—Supervisor, Chip FabricationFor the Month Ended June 30 Cost Actual…
eBook Show Me How Print Item Question Content Area Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland CompanyBudget Performance Report—Vice President, ProductionFor the Month Ended November 30 Plant Budget Actual Over Budget Under Budget Eastern Region $2,300,000 $2,287,900 $(12,100) Central Region 3,000,000 2,988,400 (11,600) Western Region (g) (h) (i) $(j) $(k) $(l) $(23,700) Garland CompanyBudget Performance Report—Manager, Western Region PlantFor the Month Ended November 30 Department Budget Actual Over Budget Under Budget Chip Fabrication $(a) $(b) $(c) Electronic Assembly 700,000 703,200 3,200 Final Assembly 525,000 516,600 $(8,400) $(d) $(e) $(f) $(8,400) Garland CompanyBudget Performance Report—Supervisor, Chip FabricationFor the Month Ended…
Budget performance reports for cost centers Partially completed budget performance reports for Runquist Company, a manufacturer of air conditioners, are provided below. a.Complete the budget performance reports by determining the correct amounts for the lettered spaces. b.Compose a memo to Jeff Kitchens, president of Meridian Company, explaining the performance of the Production Division for June.
owa Imaging Center provided the financial information in Exhibit 5.15 below. Prepare a cash budget for the quarter ending March 20X1. For Blackboard you will enter your ENDING cash balance for the months of January 20X1, February 20X1, March 20X1, and the Quarter ending March 20X1. I want you to submit your work for this problem by email so I can review the entire document. Exhibit 5-15 Iowa Imaging Center Givens Revenues and Expenses Patient Revenues, 20X0 Estimated Patient Revenues, 20X1 Given 1 October $4,000,000 Given 2 January $4,300,000 November $4,200,000 February $4,350,000 December $4,300,000 March $4,400,000 Other Revenues, 20X1 Estimated Cash Outflows, 20X1a Given 3 January $90,000 Given 4 January $4,250,000…
The controller of the Stump Company is preparing the budget for 2021 and needs to estimate a cost function for delivery costs. Information regarding delivery costs incurred in the prior 2 months are: LOADING... (Click the icon to view the information.) Requirements 1. Estimate the cost function for delivery. 2. Can the constant in the cost function be used as an estimate of fixed delivery cost per month? Explain. Requirement 1. Estimate the cost function for delivery. Delivery costs = + ( × ) Delivery costs = + ( × ) Requirement 2. Can the constant in the cost function be used as an estimate of fixed delivery cost per month? Explain. The cost function in requirement 1 is an estimate of how costs behave ▼ outside of within the relevant range, not at cost levels ▼ outside within the relevant range. If there are no months with zero miles driven represented in the delivery cost…
[The following information applies to the questions displayedbelow.]We discuss how to prepare the different component budgets of theoperating budget, including the sales, production, direct materials,direct labor, manufacturing overhead, cost of goods sold, andselling and administrative expense budgets. We also discuss howto use information from all of these operating budgets to prepare abudgeted income statement. Knowledge Check 04WellWheats, Inc. produces breakfast cereal and sells each box, or unit, for $7. The company has forecast production for the next three months as follows: July5,000 units, August 6,000 units, September 3,500 units. Monthly manufacturingoverhead is budgeted to be $20,000 plus $5 per unit produced. What isbudgeted manufacturing overhead for July?
Good night please answer d,e and question 2 Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…
S&P Enterprises needs budget for March. Please provide excel Formulas
Classique Household Furnishings & Appliances is a family-owned furniture store. You are themanagement accountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending September 30, 2018. Your data collection has yielded the following:i) Extracts from the sales and purchases budgets are as follows: MonthCashSalesSalesOn AccountPurchasesOn AccountMay $50,000 $480,000 $390,000June $65,000 $600,000 $360,000July $43,400 $720,000 $450,000August $52,800 $640,000 $400,000September $56,750 $800,000 $500,000ii) An analysis of the records shows that trade receivables (accounts receivable) for sales on accountare settled according to the following credit pattern, in accordance with the credit terms 5/30, n90:50% in the month of sale35% in the first month following the sale15% in the second month following the saleiii) Accounts payable are settled as follows, in accordance with the credit terms – 4/30, n60:70% in the month in which the…
Classique Household Furnishings & Appliances is a family-owned furniture store. You are themanagement accountant of the concern and have been given the task of preparing the cash budget for thebusiness for the quarter ending September 30, 2018. Your data collection has yielded the following:i) Extracts from the sales and purchases budgets are as follows:MonthCashSalesSalesOn AccountPurchasesOn AccountMay $50,000 $480,000 $390,000June $65,000 $600,000 $360,000July $43,400 $720,000 $450,000August $52,800 $640,000 $400,000September $56,750 $800,000 $500,000ii) An analysis of the records shows that trade receivables (accounts receivable) for sales on accountare settled according to the following credit pattern, in accordance with the credit terms 5/30, n90:50% in the month of sale35% in the first month following the sale15% in the second month following the saleiii) Accounts payable are settled as follows, in accordance with the credit terms – 4/30, n60:70% in the month in which the…
Creat an initial budget sheet showing the sistribution of $100,000 use the example's format on EXCEL.
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".