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Can you please help me with these problems! Exercise 9-24 Cash Collections (LO 9-3, 9-5) Coyote Loco, Inc., a distributor of salsa, has the following
Can you please help me with these problems!
Exercise 9-24 Cash Collections (LO 9-3, 9-5) Coyote Loco, Inc., a distributor of salsa, has the following historical collection pattern for its credit sales 75 percent collected in the month of sale, 15 percent collected in the first month after sale. 5 percent collected in the second month after sale. 4 percent collected in the third month after sale. 1 percent uncollectible The sales on account have been budgeted for the last seven months as follows: June July August September October November December $129,500 157,000 182,000 214,600 239,800 264,000 226,500 Required: 1. Compute the estimated total cash collections during October from credit sales. 2. Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter. 1. Total cash collections 2 Total cash collections Saved Exercise 9-25 Budgeting Production and Raw-Material Purchases (LO 9-3, 9-6) Greener Grass Fertilizer Company plans to sell 220.000 units of finished product in July and anticipates a growth rate in sales of 3 percent per month. The desired monthly ending inventory in units of finished product is 75 percent of the next month's estimated sales. There are 165,000 finished units in inventory on June 30. Each unit of finished product requires 5 pounds of raw material at a cost of $1.75 per pound. There are 880,000 pounds of raw material in inventory on June 30. Required: 1. Compute the company's total required production in units of finished product for the entire three-month period ending September 30. (Round all intermediate calculations and your final answer to the nearest unit.) 2. Independent of your answer to requirement 1, assume the company plans to produce 600,000 units of finished product in the three- month period ending September 30, and to have raw-material inventory on hand at the end of the three-month period equal to 25 percent of the use in that period. Compute the total estimated cost of raw material purchases for the entire three-month period ending September 30. 1 Total required production in units 2 Total estimated cost Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas Window Tint's financial records. Month April May June Sales $77,080 74,00 75,000 84, eee Purchases $60,000 53,000 41,080 59,880 July Collections from customers are normally 70 percent in the month of sale, 17 percent in the month following the sale, and 12 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account Management takes full advantage of the 2 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $61.000, and sales for August are forecasted at $67.000. Cash disbursements for expenses are expected to be $15.800 for the month of August. The company's cash balance on August 1 was $39.000. Required: 1. Prepare the expected cash collections during August 2. Prepare the expected cash disbursements during August. 3. Calculate the expected cash balance on August 31 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the expected cash collections during August. TEJAS WINDOW TINT Expected Cash Collections August Month Sales Percent Expected Collections % % Total Reguld Required 2 > Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas Window Tint's financial records. Month April Hay June July Sales $77,080 74,000 75,089 34,880 Purchases $60,000 53,000 41, e8 59,000 Collections from customers are normally 70 percent in the month of sale, 17 percent in the month following the sale, and 12 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account Management takes full advantage of the 2 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at 561.000, and sales for August are forecasted at $67.000. Cash disbursements for expenses are expected to be $15.800 for the month of August. The company's cash balance on August 1 was $39.000. Required: 1. Prepare the expected cash collections during August 2. Prepare the expected cash disbursements during August 3. Calculate the expected cash balance on August 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare the expected cash disbursements during August. TEJAS WINDOW TINT Expected Cash Disbursements August July purchases to be paid in August Net Cash disbursements for expenses Total Exercise 9-26 Cash Budgeting (LO 9-3, 9-5) The following information is from Tejas Window Tint's financial records. Month April May June July Sales $77, eee 74,000 75, eee 84, eee Purchases $6e,eee 53,000 41,000 59,880 Collections from customers are normally 70 percent in the month of sale, 17 percent in the month following the sale, and 12 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account Management takes full advantage of the 2 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $61.000, and sales for August are forecasted at $67.000. Cash disbursements for expenses are expected to be $15.800 for the month of August. The company's cash balance on August 1 was $39,000 Required: 1. Prepare the expected cash collections during August 2. Prepare the expected cash disbursements during August 3. Calculate the expected cash balance on August 31, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the expected cash balance on August 31. TEJAS WINDOW TINT Expected Cash Balance August 31 Balance August 1 Expected balance Step by Step Solution
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