Current Attempt in Progress Crane Company has completed all of its operating budgets. The sales budget for the year shows 52,000 units and total sales of $2,340,000. The total unit cost of producing one unit is $20. Selling and administrative expenses are expected to be $312,000. Interest is estimated to be $10,400. Income taxes are estimated to be $208,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2022. CRANE COMPANY Budgeted Income Statement > $

Assume the following budgeted information for a merchandising company: Budgeted sales (all on credit) for November, December, and January are $241,000, $211,000, and $202,000, respectively. Cash collections of credit sales are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is always 65% of sales. Each month’s ending inventory equals 20% of next month’s cost of goods sold. 40% of each month’s merchandise purchases are paid in the current month and the remainder is paid in the following month. Monthly selling and administrative expenses that are paid in cash in the month incurred total $21,500. Monthly depreciation expense is $21,000. The expected cash collections from customers in December are:

ABC Company's actual unit sales in the current year for January, February, and March were 16,500, 13,500, and 19,500 units, respectively. Current year selling price is $20. An analysis of general economic trends and specific initiatives at ABC forecasts increases for the coming budget year: sales volume by 10% and sales price by 5%. Required: Prepare ABC Company's budgeted unit sales and total sales volume for the first quarter of the coming year. Current sales (units) Budgeted volume increase Budgeted sales (units) Budgeted selling price Budgeted total sales January $ 0 % February $ 0 % $ March 0 % $ Total 0 %

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $239,000, $319,000, and $424,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in November from accounts receivable are projected to be: Ca. $338,520 Ob. $282,100 Oc. $237,440 Od. $192,780

Waterway Company prepares monthly cash budgets. Relevant data from operating budgets for 2027 are as follows. January February Sales $460,800 $512,000 Direct materials purchases 153,600 160,000 Direct labor 115,200 128,000 Manufacturing overhead 89,600 96,000 Selling and administrative expenses 101,120 108,800 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses, which include $1,280 of depreciation per month. Other data: 1. Credit sales: November 2026, $320,000; December 2026, $409,600. 2. Purchases of direct materials: December 2026, $128,000. 3. Other receipts: January-Collection of December 31, 2026, notes…

Getty Company expects sales for the first three months of next year to be $185,000, $235,000 and $310,000, respectively. Getty expects 30 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month. Compute a schedule of Getty's cash receipts for the months of February and March. February March Budgeted cash receipts $ 250,000

Miles Manufacturing has prepared the following sales budget for the first four months of the year: SALES: January - 20,000February - 22,000March - 25,000April - 21,000 Miles estimates that it will begin the year with 3,000 units in inventory. The company wants to end each month with inventory equal to 25% of the next month's projected sales. Prepare a production budget for each month: January, February and March.   Show your work!

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $245,000, $311,000, and $413,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in November from accounts receivable are projected to be: a. $231,280 O b. $187,740 Oc. $329,784 Od. $274,820

The selling and administrative expense budget of Breckinridge Corporation is based on budgeted unit sales, which are 5,500 units for June. The variable selling and administrative expense is $1.00 per unit. The budgeted fixed selling and administrative expense is $101,200 per month, which includes depreciation of $6,050 per month. The remainder of the fixed selling and administrative expense represents current cash flows. The cash disbursements for selling and administrative expenses on the June selling and administrative expense budget should be: *

Folgerty Enterprises prepared the following sales budget: Month Budgeted Sales March $6,000 April $13,000 May $12,000 June $14,000 The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired finished goods inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired beginning finished goods inventory on June 1 (in dollars)?   Select one: a. $1,960 b. $840 c. $1,680 d. $9,800 e. $1,860