June 30September 3084,650 feet? feete. Glden costs $0.60 per foot. One-half of a month's purchases of Gilden is pald for In the month of purchase; the remalnder Is paldfor In the following month. The accounts payable on July 1 for purchases of Glden during June will be $43,890.Requlred:1. Calculate the estimated sales, by month and In total, for the third quarter.2. Calculate the expected cash collections, by month and in total, for the third quarter.3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October.4. Calculate the quantity of Glden (in feet) that needs to be purchased by month and in total, for the third quarter.5. Calculate the cost of the raw material (Glden) purchases by month and in total, for the third quarter.6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and In total, for the third quarter.Complete this question by entering your answers In the tabs below.Req 1Req 2Req 3Req 4 and 5Req 6Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter.JulyAugustSeptember QuarterTotal cash disbursements( Req 4 and 5Reg>< Prev8 of 8Next>Maciook- FSFSFIO%23%&346.8ERYGHKCVandcommandしの Check mMilo Company manufactures beach umbrellas. The company is preparing detalled budgets for the third quarter and has assembled thefollowing Information to assist in the budget preparation:a. The Marketing Department has estimated sales as follows for the remalnder of the year (In units):25,500JulyAugustSeptember 50,000October81,000 November 12,000December 12,50035,500The selling price of the beach umbrellas is $14 per unit.b. All sales are on account. Based on past experience, sales are collected in the following pattern:30 in the month of sale65 in the month following sale58 uncollectibleSales for June totaled $420,00.c. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at theend of June.d. Each beach umbrella requires 4 feet of Glden, a material that is sometimes hard to acquire. Therefore, the company requires thatthe ending inventory of Gilden be equal to 50% of the following month's production needs. The Inventory of Gilden on hand at thebeginning and end of the quarter will be:84,650 feet2 feetJune 30September 30< Prev8 of 8Next>411『アF4FS%2324&348.9.WER.YFGJKCandcommandレつ

Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…

84,650 feet 2 feet June 30 September 30 e. Glden costs $0.60 per foot. One-half of a month's purchases of Gilden Is pald for in the month of purchase; the remalnder Is paid for In the following month. The accounts payable on July 1 for purchases of Gilden during June will be $43,890. Required: 1. Calculate the estimated sales, by month and in total, for the third quarter. 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October. 4. Calculate the quantity of Glden (In feet) that needs to be purchased by month and In total, for the third quarter. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. Complete this question by entering your answers In the tabs below. wwwww

84,650 feet 2 feet June 30 September 30 e. Glden costs $0.60 per foot. One-half of a month's purchases of Gilden Is pald for in the month of purchase; the remalnder Is paid for In the following month. The accounts payable on July 1 for purchases of Gilden during June will be $43,890. Required: 1. Calculate the estimated sales, by month and in total, for the third quarter. 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October. 4. Calculate the quantity of Glden (In feet) that needs to be purchased by month and In total, for the third quarter. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. Complete this question by entering your answers In the tabs below. wwwww

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A Company has the following sales 2,000 in January, 2,200 in February, 2,800 in April and 3,000 in May. Assuming the selling prices is P100/unit. Sales for each month are expected to be collected as follows: • Month of sales: 20% • A month after sales: 50% • 2 months after sales: 30% - How much is total receipts from sales? Feb Total 12, 500 P1,250,000 P250,000 Jan Мar Apr May Units Sold Sales in Pesos Collection from months sales current Collection months sales Collection from two months from previous P150,000 P84,000 sales Total Collections from Sales 40,000 P926,000
A merchandiser plans to sell 12,100 units next month at a selling price of $110 per unit. It also gathered the following cost estimates for next month: Cost Cost of goods sold Advertising expense Depreciation expense Shipping expense Administrative salaries Sales commissions Insurance expense Cost Formula $60 per unit sold. $150,000 per month $70,000 per month. $100,000 per month +$10 per unit sold $50,000 per month. 5% of sales $15,000 per month What is the estimated total contribution margin for next month?
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B7).
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Assume a manufacturing company,s estimated sales for january,febuar and march are 1,00,000 , 1,20,000 , 1,10,000 respectively.the cost of goods sold is always 40 % of its sales.the company always maintains ending merchandise inventory equal to 10%of next motn cost of goods sold.it pays for 25% of its merchandise purchase in the month of the purchase and remaining 75%in the subsequent month .What is the account payable balance at the end of febuary? please proper explantion thnx
Sioux Corporation is estimating the following sales for the first four months of next year: January........ $260,000 February...... $230,000 March.......... $270,000 April............. $320,000 Sales are normally collected 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April?
Catulla Corporation predicts the following sales in units for the coming four months April May 240 200 June July 300 sales in units Each moners ending Finished Goods Inventory in units should be 40% of the next month's sales Mech 21 Fished Goods inventory a 00 unts A freshed unit requires five pounds of dract material 8 at a cost of $2.00 per pound. The March 31 Raw Materials inventory has 200 pounds of direct matal 8. Each moners ending Raw Materials twentary should be 30% of the following months production needs The budgeted purchases of pounds of direct material during May should be O 1422 pounds 4xpr 210 pan
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69) Western Company expects the following credit sales for the first five months of the year: January, $43,000; February, $58,000; March, $48,000; April, $54,000, May $58,000. Experience has shown that payment for the credit sales is received as follows: 60% in the month of sale, 25% in the first month after sale, 10% in the second month after sale, and the remainder is uncollectible. How much cash can Western Company expect to collect in March as a result of credit sales (current and past)? A) $28,800. B) $42,600. C) $48,000. D) $47,600. E) $41,100.