answer part E
Waterways Corporation is preparing its badget for the coming year, 2022. The first step is to plae for the first quar ter of that coming year, The commary has gathered information from its managers in preparation of the budpeting process. Waterways likes to keep 1006 of the next monthis unit sales in ending inventory. All sales are on account. 853 of the Accounts fieceividile are collected in the month at sale and 15% of the Accounts Receivable are collected in the month after sale. Accounts recelvable on December 31, 2021, totaled $181,800. Direct mabterials cost 80 cents per pound. Two ponands of ciirect materiak are requieal to produce each unit. $120,595. Labor requires 12 minutes per unit for completion and is paid at a rate of $9 per hour. Other information The Cash balance on December 31, 2021, totaled 598,000 , but marhasement has decided it woild ilke to maintain a casth balance of at leict 5700000 beginning on January 31. 2022. Dividends are paid each month at the rate of $2.60 per share for 4.980 shares outstanding. The company has an open line of credit with Romber 5 Bark. The month. A 5520.000 oquipment purchase is planned for Fehruary. Your arswwer is cor rect. For the first quarter of 2022 , prepare a sales boidect. For the first quarter of 2022 , prepare a manufacturing overhead budget. (Round overhead rate to 2 decimal ploces ess 5.25 and al ocher answers ta 0 decimol ploces, es. 2,520. List Vurfable Costs firit. Waterways Corporation is preparing its badget for the coming year, 2022. The first step is to plae for the first quar ter of that coming year, The commary has gathered information from its managers in preparation of the budpeting process. Waterways likes to keep 1006 of the next monthis unit sales in ending inventory. All sales are on account. 853 of the Accounts fieceividile are collected in the month at sale and 15% of the Accounts Receivable are collected in the month after sale. Accounts recelvable on December 31, 2021, totaled $181,800. Direct mabterials cost 80 cents per pound. Two ponands of ciirect materiak are requieal to produce each unit. $120,595. Labor requires 12 minutes per unit for completion and is paid at a rate of $9 per hour. Other information The Cash balance on December 31, 2021, totaled 598,000 , but marhasement has decided it woild ilke to maintain a casth balance of at leict 5700000 beginning on January 31. 2022. Dividends are paid each month at the rate of $2.60 per share for 4.980 shares outstanding. The company has an open line of credit with Romber 5 Bark. The month. A 5520.000 oquipment purchase is planned for Fehruary. Your arswwer is cor rect. For the first quarter of 2022 , prepare a sales boidect. For the first quarter of 2022 , prepare a manufacturing overhead budget. (Round overhead rate to 2 decimal ploces ess 5.25 and al ocher answers ta 0 decimol ploces, es. 2,520. List Vurfable Costs firit
