Carner Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow:• Sales are budgeted at $370,000 for November, $360,000 for December, and $340,000 for January.• Collections are expected to be 85% in the month of sale, 13% in the month following the sale, and 2% uncollectible.• The cost of goods sold is 70% of sales.• The company purchases 30% of its merchandise in the month prior to the month of sale and 70% in the month of sale. Payment for merchandise is made in the month following the purchase.• Other monthly expenses to be paid in cash are $24,600.• Monthly depreciation is $17,000.• Ignore taxes. The accounts receivable balance, net of uncollectible accounts, at the end of December would be:

Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:   Sales are budgeted at $460,000 for November, $440,000 for December, and $430,000 for January. Collections are expected to be 45% in the month of sale and 55% in the month following the sale. The cost of goods sold is 80% of sales. The company would like to maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $25,200. Monthly depreciation is $16,200. Ignore taxes.   Balance SheetOctober 31 Assets     Cash $ 20,000 Accounts receivable   70,000 Merchandise inventory   153,000 Property, plant and equipment, net of $572,000 accumulated depreciation   1,094,000 Total assets $ 1,337,000       Liabilities and Stockholders' Equity     Accounts payable $ 254,000 Common stock   820,000 Retained earnings…

Yeaman has $13,000 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yeaman has cash payments for selling and administrative expenses including salaries of $65,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $1,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yeaman need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar.) Data table Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes…

Jillian Inc. produces leather handbags. The production budget for the next four months is: July 5,100 units, August 7,300, September 7,700, October 8,500. Each handbag requires 1.3 hours of unskilled labor (paid $13 per hour) and 3.1 hours of skilled labor (paid $18 per hour). How much will be paid to skilled labor during the three months July through September? Multiple Choice $361,800 $1,311,300 $6,512,400 $1,121,580

Shakira Inc. sells drones. The company is in the process of preparing its Selling and Administrative Expense Budget for the year. The following budget data are available:                                      Variable Cost Per Drone Sold      Monthly Fixed Cost Sales commissions                                      $0.40                               $ 12,000 Shipping                                                         3.20 Advertising                                                     0.25 Executive salaries                                                                                   60,000 Depreciation on office equipment                                                          4,000   Expenses are paid in the month incurred. If the company has budgeted to sell 20,000 drones in July, how much is the total budgeted selling and administrative expenses for July?

Magnolia, Inc., manufactures bedding sets. The budgeted production is for 16,500 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 3,740 yards with the desired ending balance of 5,200 yards of material. If the material costs $7.80 per yard. Determine the materials budget for the year.

Beckett Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: (Click the icon to view additional information.) Inventory at the start of the year was 850 planters. The desired inventory of planters at the end of each month should be equal to 25% of the following month's budgeted sales. Each planter requires four pounds of polypropylene (a type of plastic). The company wants to have 20% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.10 per pound. Read the requirements. Data table For the Months of January through March January February March Quarter Number of planters to be sold Units to be produced 3,425 3,400 3,525 10,350 January. 3,400 4 Multiply by: Quantity of direct materials needed per unit Quantity needed for production February 3,500…

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