Puckett Company has provided the following budget information for the first quarter of 2018: Additional data related to the first quarter of 2018 for Puckett Company: E (Click the icon to view the budget information.) a (Click the icon to view the data.) Read the requirements. i Data Table Requirement 1. Prepare Puckett Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2018. Begin by preparing the schedule of cash receipts from customers for the first quarter of 2018. Total sales 2$ 216.000 Cash Receipts from Customers Budgeted purchases of direct materials 40,600 First Quarter Budgeted direct labor cost 36,800 2018 Budgeted manufacturing overhead costs: Total sales $ 216,000 Variable manufacturing overhead 1,025 Cash Receipts from Customers: Depreciation 1,000 Accounts Receivable balance, December 31, 2017 $ 21,600 Insurance and property taxes 6,650 1st Qtr.-Sales 162,000 Budgeted selling and administrative expenses: $ 183,600 Salaries expense 14,000 Total cash receipts from customers Rent expense 2,500 Insurance expense 2,000 Accounts Receivable balance, March 31, 2018: Depreciation expense 350 Enter any number in the edit fields and then click Check Answer. Supplies expense 4,320
Puckett Company has provided the following budget information for the first quarter of 2018: Additional data related to the first quarter of 2018 for Puckett Company: E (Click the icon to view the budget information.) a (Click the icon to view the data.) Read the requirements. i Data Table Requirement 1. Prepare Puckett Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2018. Begin by preparing the schedule of cash receipts from customers for the first quarter of 2018. Total sales 2$ 216.000 Cash Receipts from Customers Budgeted purchases of direct materials 40,600 First Quarter Budgeted direct labor cost 36,800 2018 Budgeted manufacturing overhead costs: Total sales $ 216,000 Variable manufacturing overhead 1,025 Cash Receipts from Customers: Depreciation 1,000 Accounts Receivable balance, December 31, 2017 $ 21,600 Insurance and property taxes 6,650 1st Qtr.-Sales 162,000 Budgeted selling and administrative expenses: $ 183,600 Salaries expense 14,000 Total cash receipts from customers Rent expense 2,500 Insurance expense 2,000 Accounts Receivable balance, March 31, 2018: Depreciation expense 350 Enter any number in the edit fields and then click Check Answer. Supplies expense 4,320
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 6. Please fill in the blanks in the same format as the question
Transcribed Image Text:Additional data related to the first quarter of 2018 for Puckett Company:
Puckett Company has provided the following budget information for the first quarter of 2018:
E (Click the icon to view the budget information.)
A (Click the icon to view the data.)
Read the requirements.
i Data Table
Requirement 1. Prepare Puckett Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2018.
Begin by preparing the schedule of cash receipts from customers for the first quarter of 2018.
Total sales
$
216,000
Cash Receipts from Customers
Budgeted purchases of direct materials
40,600
First Quarter
Budgeted direct labor cost
36,800
2018
Budgeted manufacturing overhead costs:
Total sales
$
216,000
Variable manufacturing overhead
1,025
Cash Receipts from Customers:
Depreciation
1,000
Accounts Receivable balance, December 31, 2017
21,600
Insurance and property taxes
6,650
1st Qtr.-Sales
162,000
Budgeted selling and administrative expenses:
$
183,600
Salaries expense
14,000
Total cash receipts from customers
Rent expense
2,500
Insurance expense
2,000
Accounts Receivable balance, March 31, 2018:
Depreciation expense
350
Enter any number in the edit fields and then click Check Answer.
Supplies expense
4,320
Transcribed Image Text:Cash Payments
First Quarter
2018
Total direct materials purchases
Cash Payments
Direct Materials:
Accounts Payable balance, December 31, 2017
1st Qtr.-Direct material purchases
Total payments for direct materials
Direct Labor:
Total payments for direct labor
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