11 Tilson Corporation has projected sales and production in units for the second quarter of the coming year as follows: Sales Production April 42,000 52,000 May June 13,000 13,000 13,000 13,000 10 points 02:49:20 eBook Cash-related production costs are budgeted at $8 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $60,000 per month and are paid in the month in which they are incurred. The accounts payable balance on March 31 totals $171,000, which will be paid in April. All units are sold on account for $22 each. Cash collections from sales are budgeted at 60% in the month of sale, 15% in the month following the month of sale, and the remaining 25% in the second month following the month of sale. Accounts receivable on April 1 totaled $400,000 ($90,000 from February's sales and $310,000 from March's sales). Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation. b. Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation. Production cost Cash disbursement: Production costs this month (40%) Production costs prior month (60.0%) Selling and administrative Total disbursements April May June < Required A Required B > Required A Required B Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation. Total sales Cash receipts: February sales March sales April sales May sales June sales Total receipts April May June < Required A Required B > 12 Cryan Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (i.e., cost drivers), namely guests and jeeps. One vehicle used in one tour on one day counts as a jeep. Each jeep has one tour guide. The company uses the following data in its budgeting: 6 points Revenue Tour guide wages 02:48:45 eBook Vehicle expenses Administrative expenses Fixed element per month $ 0 $ 0 Variable element per guest $ 297 Variable element per jeep $ 0 $ 0 $ 153 $ 6,400 $ 2,900 $ 23 $ 22 $ 78 $ 0 In May, the company budgeted for 537 guests and 242 jeeps. The company's income statement showing the actual results for the month appears below: Cryan Jeep Tours Income Statement For the Month Ended May 31 Actual guests Actual jeeps Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income Required: 552 237 $ 127,854 39,557 24,640 11,888 76,085 $ 51,769 Prepare a report showing the company's revenue and spending variances for May. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Guests Jeeps Revenue Expenses: Tour guide wages Vehicle expenses Administrative expenses Total expense Net operating income Cryan Jeep Tours Revenue and Spending Variances For the Month Ended May 31 Revenue and Actual Results Flexible Budget Spending Variances 552 552 237 237