Harrti Corporation has budgeted for the following sales: July $447, 600 August $582, 600 September $616, 300 October $891, 300 November $743, 000 December $703, 000 Sales are collected as follows: 20% in the month of sale; 55% in the month following the sale; and the remaining 25% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown? Multiple Choice $562,400 $703, 000 $185, 750 $748, 150

Roberts Enterprises has budgeted sales in units for the next five months as follows:   June 4,560 units July 7,400 units August 5,360 units September 6,820 units October 3,760 units   Past experience has shown that the ending inventory for each month must be equal to 10% of the next month's sales in units. The inventory on May 31 contained 456 units. The company needs to prepare a production budget for the second quarter of the year.   The total number of units to be produced in July is:   Multiple Choice   7,936 units   7,400 units   7,196 units   7,571 units

Michard Corporation makes one product and it provided the following Information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit. b. Regarding credit sales, 20% are collected in the month of the sale and 80% In the following month. c. The ending finished goods Inventory equals 20% of the following month's sales. d. The ending raw materials Inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound. e. Regarding raw materials purchases, 30% are paid for in the month of purchase and 70% In the following month. f. The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-hours. g. The variable selling and administrative…

Assume the following budgeted information for a merchandising company: Budgeted sales (all on credit) for November, December, and January are $248,000, $218,000, and $209,000, respectively. • Cash collections related to credit sales are expected to be 70% in the month of sale, 30% in the month following the sale. • The cost of goods sold is 70% of sales. • Each month's ending inventory equals 20% of next month's cost of goods sold. • 30% 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 $25,000. • Monthly depreciation expense is $9.000. . The budgeted net operating income for December would be: Multiple Choice $40,400 $25,734 $16,734 $31,400