Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 350,000 $ 393,000 $470,000 $400,000 $420,000 $363,000 $ 353,000 $ 373,000 The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly Interest rate of 3% The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and Interest, should be indicated by a minus sign.) Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance Garden Depot Cash Budget 1st Quarter 2nd 3rd Quarter Quarter 4th Quarter Year 0 0 0 0 0 $ 05 0 $ 0 Mickley Company's plantwide predetermined overhead rate is $22.00 per direct labor-hour and its direct labor wage rate is $13.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $260 $ 260 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 50 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost per unit Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 350,000 $ 393,000 $470,000 $400,000 $420,000 $363,000 $ 353,000 $ 373,000 The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly Interest rate of 3% The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and Interest, should be indicated by a minus sign.) Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance Garden Depot Cash Budget 1st Quarter 2nd 3rd Quarter Quarter 4th Quarter Year 0 0 0 0 0 $ 05 0 $ 0 Mickley Company's plantwide predetermined overhead rate is $22.00 per direct labor-hour and its direct labor wage rate is $13.00 per hour. The following information pertains to Job A-500: Direct materials Direct labor $260 $ 260 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 50 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.) 1. Total manufacturing cost 2. Unit product cost per unit
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Reverse the order of integration in the following integrals. S.S. f(x, y) dx dy 0 1
-
What is a data flow diagram? What are the different levels from most general to most detailed? Draw the common symbols used.
-
Explain how driver tracing works.
-
Recently hired as assistant controller for Finite, Inc., you are sitting next to the controller as she responds to questions at the annual stockholders' meeting. The firm's financial statements...
-
You are a public accountant with many small business clients. During a recent visit to a clients business, the bookkeeper approached you with a problem. The columns of the trial balance were not...
-
hello can someone help me with these 5 business data analytics questions please step by step thank you
-
For solving Ax = b, consider the stationary Richardson iteration Xk+1=Xk+a (b Ax). For this question, we assume that all eigenvalues of A are real. (a) Find the iteration matrix. (b) Show that if...
-
Successful career means getting multiple jobs, promotions and earning a handsome salary. Discuss whether you agree with the statement
-
To estimate the difference between the average kilometres per litre of two different models of car, samples are taken and the following information is collected. (10p+5p) Sample size Sample mean...
-
For this circuit, use the node numbers indicated in the figure; show your work in detail. 1 20 www 5A () www 30: 514 14292 Vout Output Port Solve the circuit and find the output voltage. Find Req...
-
What are weakness and potential improvement of hospital system when we apply the servqual which are tangibility, reliability, responsiveness, assurance and empathy Write the reference
-
Why has Uber been as successful as it has been? What are the key factors that sustain that advantage today? What are the organizational competencies of Uber?
-
Southeast Shoe distributor, Inc. Identification of tests of controls for the revenue cycle (Sales and cash receipts) Mark S. Beasley Frank A. Buckless Steven M. Glover Douglas F. Prawitt LEARNING...
-
The diagram shows the two forces acting on a small object. Which of the following is the resultant force on the object? A. 8 N downwards B. 8 N upwards C. 2 N downwards D. 2 N upwards 3 N 5 N
-
A zero coupon bond with a par value of $100 matures in five years. (a) What is the price of the bond if the yield to maturity is 5 per cent? (b) What is the price of the bond if the yield to maturity...
-
Find the present yield to maturity on government securities with maturities of one year, five years and ten years in the Financial Times. How has the yield curve changed since 2010 as shown in the...
-
Bond 1 has an annual coupon rate of 6 per cent and Bond 2 has an annual coupon of 12 percent. Both bonds mature in one year and have a par value of 100. If the yield to maturity on bonds of this risk...
Study smarter with the SolutionInn App