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Compute the following for Iguana inc for the second quarter (April, May, June) Iguana, Inc., had $11,100 cash on hand on April 1. Of its
Compute the following for Iguana inc for the second quarter (April, May, June)
Iguana, Inc., had $11,100 cash on hand on April 1. Of its sales, 80 percent is in cash of the credit sales, 50 percent is collected during the month of the sale, and 50 percent is collected during the month following the sale. of direct materials purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Direct materials purchases for March 1 totaled $2,000. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $180 in depreciation. During April, Iguana plans to pay $3,300 for a piece of equipment. Required: Compute the following for Iguana, Inc., for the second quarter (April, May, and June). April May June 2nd Quarter Total 1. Budgeted Sales Revenue Budgeted Production in Units Budgeted Cost of Direct Material Purchases Budgeted Direct Labor Cost Budgeted Manufacturing Overhead Budgeted Cost of Goods Sold Total Budgeted Selling and Administrative Expenses Step by Step Solution
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