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Steady Eddie Corp. is constructing its cash budget. Its budgeted monthly sales are $6,000, and they...
Steady Eddie Corp. is constructing its cash budget. Its budgeted monthly sales are $6,000, and they are constant from month to month. 40% of its customers pay in the first month and take the 2% discount, while the remaining 60% pay in the month following the sale and do not receive a discount. The firm has no bad debts. Purchases for next month's sales are constant at 50% of projected sales for the next month. "Other payments," which include wages, rent, and taxes, are 25% of sales for the current month. Construct a cash budget for a typical month and calculate the average net cash flow during the month. Enter your answer rounded to two decimal places. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.
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Steady Eddie Corp. is constructing its cash budget. Its budgeted monthly sales are $8,000, and they...
Steady Eddie Corp. is constructing its cash budget. Its budgeted
monthly sales are $8,000, and they are constant from month to
month. 40% of its customers pay in the first month and take the 2%
discount, while the remaining 60% pay in the month following the
sale and do not receive a discount. The firm has no bad debts.
Purchases for next month's sales are constant at 50% of projected
sales for the next month. "Other payments," which include wages,...
Steady Eddie Corp. is constructing its cash budget. Its budgeted monthly sales are $8,000, and they...
Steady Eddie Corp. is constructing its cash budget. Its budgeted
monthly sales are $8,000, and they are constant from month to
month. 40% of its customers pay in the first month and take the 2%
discount, while the remaining 60% pay in the month following the
sale and do not receive a discount. The firm has no bad debts.
Purchases for next month's sales are constant at 50% of projected
sales for the next month. "Other payments," which include wages,...
Raelynn is preparing its master budget for the quarter ended September 30. Budgeted sales and cash...
Raelynn is preparing its master budget for the quarter ended
September 30. Budgeted sales and cash payments for merchandise for
the next three months follow.
Budgeted
July
August
September
Sales
69,250
85,400
54,750
Cash payments for merchandise
42,950
39,300
33,600
Sales are 20% cash and 80% on credit. All credit sales are
collected in the month following the sale. The June 30 balance
sheet includes balances of $15,000 in cash; $45,000 in accounts
receivable;...
Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash...
Built-Tight is preparing its master budget for the quarter ended
September 30. Budgeted sales and cash payments for product costs
for the quarter follow.
July
August
September
Budgeted sales
$
55,000
$
71,000
$
57,000
Budgeted cash payments for
Direct materials
15,360
12,640
12,960
Direct labor
3,240
2,560
2,640
Factory overhead
19,400
16,000
16,400
Sales are 20% cash and 80% on credit. All credit sales are
collected in the month following the sale. The June 30 balance
sheet includes balances...
Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash...
Built-Tight is preparing its master budget for the quarter ended
September 30. Budgeted sales and cash payments for product costs
for the quarter follow:
July
August
September
Budgeted sales
$
64,000
$
80,000
$
48,000
Budgeted cash payments for
Direct materials
16,160
13,440
13,760
Direct labor
4,040
3,360
3,440
Factory overhead
20,200
16,800
17,200
Sales are 20% cash and 80% on credit. All credit sales are
collected in the month following the sale. The June 30 balance
sheet includes balances...
Lilly Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget...
Lilly Inc. bases its selling and administrative expense
budget on budgeted unit sales. The sales budget shows 3,200 units
are planned to be sold in December. The variable selling and
administrative expense is $3.10 per unit. The budgeted fixed
selling and administrative expense is $60,800 per month, which
includes depreciation of $6,720 per month. The remainder of the
fixed selling and administrative expense represents current cash
flows.Calculate the budgeted cash disbursements for selling and
administrative expenses for December. Give your...
Arakaki Inc. is working on its cash budget for January. The budgeted beginning cash balance is...
Arakaki Inc. is working on its cash budget for January. The budgeted beginning cash balance is $41,000. Budgeted cash receipts total $114,000 and budgeted cash disbursements total $113,000. The desired ending cash balance is $60,000. How much will be the excess (deficiency) of cash available over disbursements for January?
A. $1,000 B. $155,000 C. $42,000 D. $40,000
-budgeted income statement – direct materials budget – production budget – sales budget -sales budget –...
-budgeted income statement – direct materials budget –
production budget – sales budget
-sales budget – production budget – direct materials budget –
budgeted income statement
Who would typically be responsible for the direct
material quantity variance?
-the production manager
-the chief financial officer
-the purchasing manager
-the human resources manager
Which of the following is not a component of the
operating budget?
-sales budget
-selling and administrative budget
-Budgeted balance sheet
-raw materials purchases budget
Top-down budgeting is:
-when...
Which of the following sequences is correct? Select one a. Cash receipts budget-sales budget-production budget-budgeted income...
Which of the following sequences is correct? Select one a. Cash
receipts budget-sales budget-production budget-budgeted income
statement b. Sales budget-production budget-direct materials
budget-budgeted income statement c Budgeted income statement-direct
materials budget-production budget-sales budget O d Inventory
budget-production budget-sales budget-selling and administrative
budger
Walsh Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,000....
Walsh Corporation is preparing its cash budget for January. The
budgeted beginning cash balance is $18,000. Budgeted cash receipts
total $183,000 and budgeted cash disbursements total $188,000. The
desired ending cash balance is $30,000. The excess (deficiency) of
cash available over disbursements for January is: Select one: a.
23,000 b. $13,000 c. $201,000 d. ($5,000)
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