Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 81,000 132,000 56,250 214,000 $ 483, 250 $ 75,000 346,000 62,250 $ 483, 250 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August September, and October will be $250,000, $270,000 $260,000, and $280,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts recelvable at June 30 will be collected in July. 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $46,000. Each month $5,000 of this total amount is depreciation expense and the remaining $41,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July, August, and September. Also cmpute total cash collections for the quarter ended September 30 2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 3. Prepare an income statement that computes net operating income for the quarter ended September 30, 4. Prepare a balance sheet as of September 30. The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 11,300 Units to be produced 2nd Quarter 10,300 3rd Quarter 12,300 4th Quarter 13,300 Each unit requires 0.25 direct labor-hours and direct loborers are paid $13.00 per hour In addition, the variable manufacturing overhead rate is $1.60 per direct labor-hour. The fixed manufacturing overhead is $93,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $33,000 per quarter. Required: 1 Calculate the company's total estimated direct labor cost for each quarter of the the upcoming fiscal year and for the year as a whole. 2&3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below.. Reg 1 Req 2 and 3 Calculate the company's total estimated direct labor cost for each quarter of the the upcoming fiscal year and for the year as a whole. (Round "Direct labor time per unit (hours) answers to 2 decimal places.) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total direct labor cost Reg 2 and 3> Combe Corporation has two divisions: Alpha and Beta. Data from the most recent month appear below: Alpha Beta Sales $173,000 $318, 200 Variable expenses $96,880 $130,000 Traceable fixed expenses $ 90,090 $ 91,000 The company's common fixed expenses total $90,500 The break-even in sales dollars for Alpha Division is closest to: Multiple Choice $204750 $82,500 $410.432 $205,682 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 81,000 132,000 56,250 214,000 $ 483, 250 $ 75,000 346,000 62,250 $ 483, 250 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August September, and October will be $250,000, $270,000 $260,000, and $280,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts recelvable at June 30 will be collected in July. 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $46,000. Each month $5,000 of this total amount is depreciation expense and the remaining $41,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July, August, and September. Also cmpute total cash collections for the quarter ended September 30 2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 3. Prepare an income statement that computes net operating income for the quarter ended September 30, 4. Prepare a balance sheet as of September 30. The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 11,300 Units to be produced 2nd Quarter 10,300 3rd Quarter 12,300 4th Quarter 13,300 Each unit requires 0.25 direct labor-hours and direct loborers are paid $13.00 per hour In addition, the variable manufacturing overhead rate is $1.60 per direct labor-hour. The fixed manufacturing overhead is $93,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $33,000 per quarter. Required: 1 Calculate the company's total estimated direct labor cost for each quarter of the the upcoming fiscal year and for the year as a whole. 2&3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below.. Reg 1 Req 2 and 3 Calculate the company's total estimated direct labor cost for each quarter of the the upcoming fiscal year and for the year as a whole. (Round "Direct labor time per unit (hours) answers to 2 decimal places.) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total direct labor cost Reg 2 and 3> Combe Corporation has two divisions: Alpha and Beta. Data from the most recent month appear below: Alpha Beta Sales $173,000 $318, 200 Variable expenses $96,880 $130,000 Traceable fixed expenses $ 90,090 $ 91,000 The company's common fixed expenses total $90,500 The break-even in sales dollars for Alpha Division is closest to: Multiple Choice $204750 $82,500 $410.432 $205,682