Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. What will orders be in each quarter of the year if the sales forecasts for the next five quarters are as follows: Quarter in Coming Year Following Year First Second Third Fourth First Quarter Sales forecast $ 372 $ 360 $ 336 $ 384 $ 384
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- Ranger Industries has provided the following information at June 30: Other information: Average selling price, 196 Average purchase price per unit, 110 Desired ending inventory, 40% of next months unit sales Collections from customers: In month of sale20% In month after sale50% Two months after sale30% Projected cash payments: Inventory purchases are paid for in the month following acquisition. Variable cash expenses, other than inventory, are equal to 25% of each months sales and are paid in the month of sale. Fixed cash expenses are 40,000 per month and are paid in the month incurred. Depreciation on equipment is 2,000 per month. REQUIREMENT You have been asked to prepare a master budget for the upcoming quarter (July, August, and September). The components of this budget are a monthly sales budget, a monthly purchases budget, a monthly cash budget, a forecasted income statement for the quarter, and a forecasted September 30 balance sheet. The worksheet MASTER has been provided to assist you. Ranger Industries desires to maintain a minimum cash balance of 8,000 at the end of each month. If this goal cannot be met, the company borrows the exact amount needed to reach its goal. If the company has a cash balance greater than 8,000 and also has loans payable outstanding, the amount in excess of 8,000 is paid to the bank. Annual interest of 18% is paid on a monthly basis on the outstanding balance.Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is collected in the month of sale, 15% is collected the month after the sale, and 10% is collected the second month after the sale. How much cash will be collected in June if sales are estimated as $75,000 in April, $65,000 in May, and $90,000 in June?Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Quarter in Coming Year Following Year First Second Third Fourth First Quarter Sales forecast $420 $342 $346 $394 $394 Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Quarter Payment 1 2 3 4
- Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Following Year First Quarter Quarter in Coming Year First Second Third Fourth Sales forecast $460 $334 $351 $399 $399 On average, one-third of sales are collected in the quarter that they are sold, and two-thirds are collected in the following quarter. Assume that sales in the last quarter of the previous year were $351. What is the forecast for Paymore's cash receipts in each quarter of the coming year? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Quarter Collections 1 3 4Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Following Year First Quarter Quarter in Coming Year First Second Third Fourth Sales forecast $385 $365 $341 $389 $389 Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Quarter Payment 1 2 3 47. Short-Term Planning. Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. What will orders be in each quarter of the year if the sales forecasts for the next 5 quarters are as shown in the following table? Quarter in Coming Year Following Year First Second Third Fourth Sales forecast $372 $360 $336 $384 First Quarter $384
- Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Sales forecast Quarter 1 2 3 4 First $ 492 Collections Quarter in Coming Year Second Third $ 346 $ 355 Fourth $ 403 On average, one-third of sales are collected in the quarter that they are sold, and two-thirds are collected in the following quarter. Assume that sales in the last quarter of the previous year were $355. What is the forecast for Paymore's cash receipts in each quarter of the coming year? Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Following Year First Quarter $ 403JoAnn Manufacturing has projected the following sales for the coming year: Sales $25,847.50 C$25,182.50 $22,604.17 Q1 $23,560.83 Q2 $ 54,750 $ 61,850 Q3 The company places orders each quarter that are 35 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter? $70,050 Q4 $75,750Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter which has been provided in the below table. Quarter in Coming Year Following Year First Second Third Fourth First Quarter Sales forecast $385 $365 $341 $389 $389 On average, one-third of sales are collected in the quarter that they are sold, and two-thirds are collected in the following quarter. Assume that sales in the last quarter of the previous year were $341. Also, one third of the orders are paid for in the current month and then two thirds of the next quarter's orders are paid in advance. Assuming that Paymore's labor and administrative expenses are $70 per quarter and that interest on long-term debt is $45 per quarter, work out the net cash flow for Paymore for the coming year using the below table. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Quarter First Second Third Fourth Sources of cash: Collections on accounts receivable Uses…
- Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter which has been provided in the below table. Quarter in Coming Year Following Year First Second Third Fourth First Quarter Sales forecast $375 $320 $300 $360 $360 Paymore’s labor and administrative expenses are $66 per quarter and interest on long-term debt is $41 per quarter. Paymore’s cash balance at the start of the first quarter is $40 and its minimum acceptable cash balance is $30. Assume that Paymore can borrow up to $300 from a line of credit at an interest rate of 2% per quarter. On average, one-third of sales are collected in the quarter that they are sold, and two-thirds are collected in the following quarter. Assume that sales in the last quarter of the previous year were $300. On average, two-thirds of purchases are paid for in the quarter that they are purchased, and one-third are paid in the following quarter. Prepare a short-term financing plan using…JoAnn Manufacturing has projected the following sales for the coming year 01 02 03 04 Sales $53,475 $59,725 $ 68,775 $ 74,050 The company places orders each quarter that are 30 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter? Mutiple Choice O $21.360.00 121687.50 $22.22969 $19,72750Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter which has been provided in the below table. Following Quarter in Coming Year Year First First Second Third Fourth Quarter Sales forecast $420 $342 $346 $394 $394 Paymore's labor and administrative expenses are $75 per quarter and interest on long-term debt is $50 per quarter. Paymore's cash balance at the start of the first quarter is $40 and its minimum acceptable cash balance is $30. Assume that Paymore can borrow up to $346 from a line of credit at an interest rate of 2% per quarter. On average, one-third of sales are collected in the quarter that they are sold, and two-thirds are collected in the following quarter. Assume that sales in the last quarter of the previous year were $346. On average, two-thirds of purchases are paid for in the quarter that they are purchased, and one-third are paid in the following quarter. Prepare a short-term financing plan using the above table. (Leave no…
