Green Landscaping Inc. is preparing its budget for the first quarter of 2017. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected.

Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service.

Actual service revenue for 2016 and expected service revenues for 2017 are November 2016, $91,440; December 2016, $84,110; January 2017, $104,600; February 2017, $124,970; March 2017, $132,960.

Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2016 and expected purchases for 2017 are December 2016, $18,200; January 2017, $14,500; February 2017, $17,470; March 2017, $22,240.

(a)

Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total:

(1) Expected collections from clients.

(2) Expected payments for landscaping supplies.

(b)

Determine the following balances at March 31, 2017:

Preparation of Individual Budgets

During the first calendar quarter of 2019, Clinton Corporation is planning to manufacture a new product and introduce it in two regions. Market research indicates that sales will be 6,000 units in the urban region at a unit price of $53 and 5,000 units in the rural region at $48 each. Because the sales manager expects the product to catch on, he has asked for production sufficient to generate a 4,000-unit ending inventory. The production manager has furnished the following estimates related to manufacturing costs and operating expenses:

*Varies per unit sold, not per unit produced.

a. Assuming that the desired ending inventories of materials A and B are 4,000 and 6,000 pounds, respectively, and that work-in-process inventories are immaterial, prepare budgets for the calendar quarter in which the new product will be introduced for each of the following operating factors:

Do not use negative signs with any of your answers below.

1. Total sales

($Answer)

2. Production

(Answer units)

3. Material purchase cost

4. Direct labor costs

($Answer)

5. Manufacturing overhead costs

6. Selling and administrative expenses

b. Using data generated in requirement (a), prepare a budgeted income statement for the calendar quarter. Assume an overall effective income tax rate of 30%.

Round answers to the nearest whole number.
Do not use negative signs with your answers.

the spots with a(    - ) in the boxes (not including the ones in the top box with the numbers). or the word Answer (question 1,2,4) is what I need help figuring out can you plans include how you got the answers like the steps to get the answers so I can know how to solve future problems

Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November 2019, $94,110; December 2019, $84,830; January 2020, $102,390; February 2020, $123,530; and March 2020, $131,560. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2019 and expected purchases for 2020 are December 2019, $17,540; January 2020, $16,370; February 2020, $18,950; and March 2020, $19,050. (a) Prepare the following schedules for each month in the first quarter of 2020 and for the quarter in total: 1) Expected collections from clients. (2) Expected payments for landscaping supplies. (b) Determine the following balances at March 31, 2020: (1) Accounts receivable (2) Accounts payable

Tempo Company's fixed budget (based on sales of 18,000 units) for the first quarter reveals the following.

(1) Compute the total variable cost per unit.
(2) Compute the total fixed costs.
(3) Compute the income from operations for sales volume of 16,000 units.
(4) Compute the income from operations for sales volume of 20,000 units.

Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following.

(1) Compute the total variable cost per unit.
(2) Compute the total fixed costs.
(3) Compute the income from operations for sales volume of 8,000 units.
(4) Compute the income from operations for sales volume of 12,000 units.

4. Prepare a cash budget for Atlas Products, Inc. for the first quarter of 2011 based on the following information. (20 points)

                                                              Total Sales                             Credit Sales

December 2010                                     $825,000                                   $770,000

January 2011                                           730,000                                     690,000

February 2011                                         840,000                                     780,000

March 2011                                             920,000                                     855,000

The company found that on average, about 25% of its credit sales are collected during the month when the sale is made, and the remaining 75% of the credit sales are collected during the month following the sale.

The company estimates its purchases at 60% of the next month’s sales and payments for those purchases are budgeted to lag the purchases by 1 month.

Other disbursements have been estimated as follows:

                                                            January                 February            March

Wages and salaries                              $250,000             $290,000            $290,000

Rent                                                         27,000                 27,000                27,000

Other expenses                                        10,000                12,000                14,000

In addition, a tax payment of $105,000 is due in January, and a $40,000 dividend will be declared in January and paid in March. Also, the company has ordered a $75,000 piece of equipment. Delivery is scheduled for January and payment will be made in February.

The company’s projected cash balance at the end of December is $100,000 and they desire to maintain a balance of $100,000 at the end of each month.

Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November 2019, $94,110; December 2019, $84,830; January 2020, $102,390; February 2020, $123,530; and March 2020, $131,560. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2019 and expected purchases for 2020 are December 2019, $17,540; January 2020, $16,370; February 2020, $18,950; and March 2020, $19,050.

Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following.

(1) Compute the total variable cost per unit.
(2) Compute the total fixed costs.
(3) Compute the income from operations for sales volume of 14,000 units.
(4) Compute the income from operations for sales volume of 18,000 units.

Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter reveals the following. Fixed Budget Sales (10,000 units × $204 per unit) $ 2,040,000 Cost of goods sold Direct materials $ 230,000 Direct labor 430,000 Production supplies 270,000 Plant manager salary 30,000 960,000 Gross profit 1,080,000 Selling expenses Sales commissions 80,000 Packaging 140,000 Advertising 100,000 320,000 Administrative expenses Administrative salaries 80,000 Depreciation—office equip. 50,000 Insurance 20,000 Office rent 30,000 180,000 Income from operations $ 580,000 (1) Compute the total variable cost per unit. (2) Compute the total fixed costs. (3) Compute the income from operations for sales volume of 8,000 units. (4) Compute the income from operations for sales volume of 12,000 units.

Tempo Company's fixed budget (based on sales of 18,000 units) for the first quarter of calendar year 2017 reveals the following.

Complete the following flexible budgets for sales volumes of 16,000, 18,000, and 20,000 units. (Round cost per unit to 2 decimal places.)