Gallonte Incorporated began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $60,000, $100,000, and $70,000, respectively, what were the firm's budgeted collections for the quarter? Multiple Choice None of the answers is correct $141,000 $207,000 $160,000 О $171,000

Zisk Company purchases direct materials on credit. Budgeted purchases are April, $80,000; May, $110,000; and June, $120,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $70,000. Prepare a schedule of cash payments for direct materials for April, May, and June.

Multiple Choice Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are collected in the First month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $80,000, $140,000, and $130,000, respectively, what were the firm's budgeted collections for the quarter? $201,000. $220,000. $232,000. $292,000. Help None of the answers is correct. Save & EXIL SUB

Wala Incorporated bases its selling and administrative expense budget on the number of units sold. The variable selling and administrative expense is $3.70 per unit. The budgeted fixed selling and administrative expense is $30,360 per month, which includes depreciation of $3,630. The remainder of the fixed selling and administrative expense represents current cash flows. The sales budget shows 3,100 units are planned to be sold in July.   Required: Prepare the selling and administrative expense budget for July.

Blue Wave Co. predicts the following unit sales for the coming four months: September, 3,300 units; October, 4,900 units; November, 6,700 units; and December, 7,900 units. The company's policy is to maintain finished goods inventory equal to 50% of the next month's sales. At the end of August, the company had 2,800 finished units on hand. Prepare a production budget for each of the months of September, October, and November. Blue Wave Co. Production Budget September, October and November September Next month's budgeted sales (units) Units to be produced % October % November %

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, $309,000, and $419,000, 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 October from accounts receivable are estimated to be a. $173,040 b. $206,500 c. $139,580 d. $247,800

Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $245,000, $302,000, and $402,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the The cash collections expected in October are O & $267,120 O & $218120 Oc $278,520 O d. $289.175

Expetn company has budgeted total sales for April and May at $200,000 and $250,000 respectively. sales are 68%credit, of which 18% is collected in the month of the sale and rest collected following month. what are the budgeted cash collection from sales in May?

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Capstone Inc. collects 80% of its sales on account in the month of the sale and 20% in the month following the sale. If sales on account are budgeted to be $399,000 for September and $479,000 for October, what are the budgeted cash receipts from sales on account for October?