Question
$522,000; March $513,000; April $583,000; May $632,000; June $648,000; July $634,000 Purchases: Purchases are calculated as 63% of the next month's sales, 12% of purchases
$522,000; March $513,000;
April $583,000; May $632,000;
June $648,000; July $634,000Purchases: Purchases are calculated as 63%
of the next month's sales, 12% of purchases are made in cash, 55%
of purchases are paid for 1 month after purchase, and the remaining 33% of purchases are paid for 2 months after purchase.
Rent: The firm pays rent of $7,990 per month.
Wages and salaries: Base wage and salary costs are fixed at $5,800
per month plus a variable cost of 7.3% of the current month's sales.
Taxes: A tax payment of $54,300 is due in June.
Fixed asset outlays: New equipment costing
$74,900 will be bought and paid for in April.
Interest payments: An interest payment of $30,200
is due in June.Cash dividends: Dividends of $12,800 will be paid in April.
Principal repayments and retirements: No principal repayments or retirements are due during these months.
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Part 1
Complete the cash disbursements schedule for Maris Brothers, Inc. below: (Round to the nearest dollar.)
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