Appx CAX Other Information The Cath x + /assessment-player/index.htmlaunchd-27120050-ba0b-4250-ad92-0de62109204/stion/0 Question 1 of 1 4.3/20 Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process Sales Unit sales for November 2019 Unit sales for December 2019 114,000 101,000 Expected unit sales for January 2020 114,000 Expected unit sales for February 2020 112,000 Expected unit sales for March 2020 117,000 Expected unit sales for April 2020 126,000 Expected unit sales for May 2020 Unit selling price 138,000 $12 Waterways likes to keep 100% of the next month's unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totaled $181.800. Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit Waterways Sikes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31 2019, totaled 11.380 pounds. Payment for materials is made within 15 days 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2019, totaled $102,875 Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $6 per hour Manufacturing Overhead Indirect materials Indirect labor Utilities Maintenance 30 per labor hour 506 per labor hour 40c per labor hour 200 per labor hour Player Appx AX Other Information The Cash X //v2/assessment-player/index.htmlaunchd-27120090-bacb-4200-12-21 Question 1 of 1 Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of 56 per hour Manufacturing Overhead Indirect materials Indirect labor Utilities 30c per labor hour 50 per labor hour 40 per labor hour Maintenance 20 per labor hour Salaries $41,000 per month Depreciation $15,800 per month Property taxes $3,000 per month Insurance $1,400 per month Maintenance $1,300 per month Selling and Administrative Variable selling and administrative cost per unit is $1.70 Advertising $13,000 a month Insurance $1.500 a month Salaries $70,000 a month Depreciation $2.600 a month Other faed costs $2,700 a month 43/20 Other Information per share for 5.360 shares The Cash balance on December 31, 2019, totaled $100,000, but management has decided it would like to maintain a cash balance of at least $800,000 beginning on January 31, 2020, pividends are paid each month at ther 50 the last day of the month A outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 6% interest. Waterways borrows on the first day of the month $450.000 equipment purchase is planned for February AX Other Information The Cash + ment-player/index.html?launchid-27120090-boot-42b0d32-8de621H28/question/0 Question 1 of 1 January bor Hours eTextbook and Media $ For the First Quarter of 2020 First Quarter 4.3/20 February March $ Player Appx CAX Other Information The Cath x www/v2/ssment-player/index.htmlhaunchid-27120090-ba0b-450-52-de Question 1 of 1 January panossenring Over mer song UN For the First Quarter of 2000 First Quarter February $ $ eTextbook and Media 4.3/20 March Quarter AX Other Information The Cash X player/index.html?launchid-27120090-ba0b-4260-ad92-0de6218928/question/ Question 1 of 1 eTextbook and Media x Your answer is incorrect $ $ January Selling and Administrative Expense Budget For the First Quarter of 2020 First Quarter February $ $ $ $ $ $ $ 4.3/20 March CAX Other Information The Cash x player/index.html?launchid-27120090-ba0b-4200-ad52-8de6218928/question/0 Question 1 of 1 For the first quarter of 2020, prepare a schedule for expected cash collections from customers Schedule of Expected Collections from Customers January Accounts receivable. 12/31/19 January sales February sales March sales Total cash collections $ eTextbook and Media February 4.3/20 March Qu x Your answer is incorrect. For the first quarter of 2020, prepare a schedule for expected payments for materials purchases. (Round answers to O decimal places eg 2.520) January Schedule of Expected Cash Payments for Purchases February March Qui Accounts payable, 12/31/19 CAX Other Information The Cash x + ayer/index.html?launchid-27120090-ba0b-42b0-ad92-0de621891204/question/0 Question 1 of 1 E 4.3/20 For the first quarter of 2020, prepare a schedule for expected payments for materials purchases. (Round answers to decimal places, eg. 2,520) Accounts payable. 12/31/19 January February March Total $ payments Schedule of Expected Cash Payments for Purchases January February March Qui $ eTextbook and Media $ Your answer is partially correct For the first quarter of 2020, prepare a cash budget. (Round answers to O decimal places es 2.520) WATERWAYS CORPORATION Cash Budget For the First Quarter of 2020 First Quarter January Fe AX Other Information The Cash x + r/index.html?launchid-27120090-ba0b-42b0-ad92-side2189120/question/0 estion 1 of 1 De WATERWAYS CORPORATION Cash Budget For the First Quarter of 2020 First Quarter January February March $ $ 4.3/20 EE AX Other Information The Cash x wer/indechtml?launchid-27120090-ba0b-42b0-ad92-2fde62189128/question/ estion 1 of 1 eTextbook and Media Save for Cater 0 4.3/201 Attempts: unlimited Submit Ar