Schedules of Cash Collections and Payments
A company has the following sales for the quarter: $40,000 in April, $30,000 in May, and $50,000 in June. If the company collects 40% of its sales in the month of sale and the other 60% in the month following the sale, how much was collected in April?
a. $16,000
A company wants their desired ending inventory to be 20% of the following month's sales. The company began the quarter with 40,000 in production units. What is the required production for July?
July: 50,000
August 55,000
September 75,000
a. 21,000 units
A firm has budgeted unit sales of 500. The selling price per unit is $1,700 and the cost per unit is $1,500. What is the gross profit?
b. $100,000
A company has $300,000 in available cash and total cash disbursements of $150,000. What is the cash excess/deficiency?
b. $150,000
A company has the following budgeted unit sales for the quarter.
January 100,000
February 120,000
March 300,000
The company has variable S&A costs per unit of $6 and fixed MOH costs of $60,000. The company also has $10,000 in depreciation each month. What is the cash disbursement for MOH in February?
c. $770,000
A company has the following sales for the quarter: $40,000 in April, $30,000 in May, and $50,000 in June. If the company collects 40% of its sales in the month of sale and the other 60% in the month following the sale, how much was collected in May?
b. $36,000
A company has the following production schedule for the quarter.
July 55,000
August 60,000
September 80,000
Each unit of material requires 0.10 hours of labor and workers are paid an hourly wage rate of $20 per hour. What are the total direct labor costs for September?
a. $160,000
A company is preparing its budgeted balance sheet. The following information is available for the end of the year:
What is the ending Retained Earnings balance?
b. $100,000
A company has a beginning cash balance in November of $40,000, collects cash of $75,000 and has total disbursements of $65,000 for the month. What is the cash excess/deficiency?
b. $50,000
A company has the following budgeted unit sales for the quarter.
October: 40,000
November: 80,000
December: 65,000
Selling price is $20 per unit. What is the total budgeted sales amount for December?
c. $1,300,000
A company has the following direct material payments for the quarter: $70,000 in April, $50,000 in May, and $40,000 in June. If the company collects 55% of its sales in the month of sale and the other 45% in the month following the sale, how much was collected in April?
b. $38,500
A company has the following amounts for production:
July 55,000
August 70,000
September 30,000
Each unit requires 10 pounds of materials and the company wants ending inventory to be 30% of the following month's production. The company began the year with 20,000 pounds of materials in inventory. What is the direct materials amount for July?
c. 551,000 pounds
From the S&A Expense budget, a company has $400,000 of total S&A expenses and cash disbursements for those expenses equal $300,000. If the company has gross profit of $520,000, what is their net operating income?
a. $120,000
A company needs to maintain a minimum cash balance of $25,000. If the company has $100,000 of cash available and total disbursements of $80,000, how much (if any) do they need to borrow?
c. $5,000
A company has ending inventory of 40,000 units. The direct labor cost per unit is $4.00, the direct material cost per unit is $3.60 and the MOH cost per unit is $8.70. What is the final value of ending inventory?
c. $652,000
A company has the following direct material payments for the quarter: $70,000 in April, $50,000 in May, and $40,000 in June. If the company collects 55% of its sales in the month of sale and the other 45% in the month following the sale, how much was collected in May?
c. $59,000
A company wants their desired ending inventory to be 20% of the following month's sales. The company began the quarter with 40,000 in production units. What is the required production for August?
July: 50,000
August 55,000
September 75,000
c. 59,000 units
A company is preparing its budgeted balance sheet at the end of the year. The following information is available:
What is the budgeted ending balance of Retained Earnings?
b. $60,000
A company has borrowed $40,000 in June to maintain a minimum cash balance. They pay the principal at the end of the quarter in September based on a 5% interest rate. How much total financing is done in September?
a. $40,500
A company has the following budgeted unit sales for the quarter.
January 100,000
February 120,000
March 300,000
The company has variable S&A costs per unit of $6 and fixed MOH costs of $60,000. The company also has $10,000 in depreciation each month. What is the total amount for MOH in March?
d. $1,860,000
A company has the following direct material payments for the quarter: $70,000 in April, $50,000 in May, and $40,000 in June. If the company collects 55% of its sales in the month of sale and the other 45% in the month following the sale, how much was collected in June?
c. $44,500
A company has the following direct labor costs for the quarter.
January $100,000
February $120,000
March $300,000
The company has variable MOH costs per unit of $5 and fixed MOH costs of $50,000. The company also has $20,00 in depreciation each month. What is the cash disbursement for MOH in February?
c. $630,000
A company is preparing its budgeted balance sheet at the end of the year. The following information is available:
Beginning balance of Retained Earnings is $40,000, the company had budgeted income of $30,000 and budgeted dividends of $10,000. Find the ending cash balance.
a. $25,000
GreenTech Inc. is preparing its cash budget for the quarter. The following information is available:
Cash Receipts in April $120,000
Cash Disbursements in April $150,000
Cash Receipts in May $180,000
Cash Disbursements in May $200,000
Cash Receipts in June $200,000
Cash Disbursements in June $220,000
Additional information:
Question: What is the minimum amount the company must borrow in April to maintain the minimum cash balance?
c. $25,000
BrightStar Inc. is preparing its Selling & Administrative (S&A) Expense Budget for the quarter. The following information is available:
Question: What is the budgeted cash disbursement for S&A expenses in May?
a. $310,000