1.Direct Materials Purchases Budget

Daybook Inc. budgeted production of 403,500 personal journals in 20Y6. Paper is required to produce a journal. Assume six square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 40,400 square yards. The desired December 31, 20Y6, paper inventory is 38,900 square yards.

If paper costs $0.40 per square yard, determine the direct materials purchases budget for 20Y6.

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2.Direct Materials Purchases Budget

Seranno Inc. budgeted production of 59,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 64 square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 227,000 square yards. The desired December 31, 20Y6, paper inventory is 170,000 square yards.

If paper costs $0.13 per square yard, determine the direct materials purchases budget for 20Y6. If required, round your final answer to the nearest dollar.

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3.Cash Budget

Daybook Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $105,000 for September and $116,000 for October, what are the budgeted cash receipts from sales on account for October?

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4.Cash Budget

Magnolia Candle Inc. pays 10% of its purchases on account in the month of the purchase and 90% in the month following the purchase. If purchases are budgeted to be $11,900 for March and $12,700 for April, what are the budgeted cash payments for purchases on account for April?

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