ACC 212.W1 Principles of Accounting II Spring 2021 Santer Homework: Chapter 22 Homework Score: 5.13 of 20 pts * P22-39A (similar to) 5 of 6 (5 complete) + Humble Company has provided the following budget information for the first quarter of 2018 Click the icon to view the budget information.) Additional data related to the first quarter of 2018 for Humble Company Click the icon to view the data) Read the requirements Manutacturing Overhead: Total payments for manufacturing overhead Selling and Administrative Expenses Total payments for Selling and Admin. expenses Choose from any list or enter any number in the input fields and then click Check Answer 2 parts ramaining Clear All vork 5 of 6 (5 complete) Data Table -X 2018 for Hum $ 208,000 41.000 37.400 1100 700 Total sales Budgeted purchases of direct materials Budgeted direct labor cost Budgeted manufacturing overhead costs. Vanable manufacturing overhead Depreciation Insurance and property taxes Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense 6,550 8.000 1,000 1,700 150 6.240 Print Dono mework 5 of 6 (6 complete) en fort 1 More Info 018 for - X Capital expenditures include $45,000 for new manufacturing equipment to be 2. purchased and paid in the first quarter. Cash receipts are 70% of sales in the quarter of the sale and 30% in the b. quarter following the sale. Direct materials purchases are paid 50% in the quarter purchased and 50% in c. the next quarter Direct labor, manufacturing overhead, and selling and administrative costs are d. paid in the quarter incurred Income tax expense for the first quarter is projected at $44,000 and is paid in e. the quarter incurred Humble Company expects to have adequate cash funds and does not 1. anticipate borrowing in the first quarter, The December 31, 2017, balance in Cash is $35,000, in Accounts Receivable g. is $20,300, and in Accounts Payable is $17,300. ds and Print Done Clear All