Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

correct anwser is 1564400 can you show me how to get that 14. Earle Company has prepared the following budget for June: 160411214200 Sales revenue

correct anwser is 1564400 can you show me how to get that
image text in transcribed
14. Earle Company has prepared the following budget for June: 160411214200 Sales revenue (for 33,000 units) $7,029,000 Cost of goods sold Direct materials used $1,617,000 Direct labor 1,254,000 Variable factory overhead 990,000 Fixed factory overhead 735,000 4,596,000 Gross margin $2,433,000 Operating expenses Variable $1,122,000 Fixed 728,000 1,850,000 Operating income $583.000 Unit sales, selling price per unit, variable cost per unit, total fixed costs, and finished goods inventories are anticipated to remain constant each month. Unit sales were in 32,000 in May. Beginning raw materials inventory in May was $25,000 higher than ending raw materials inventory in May. burslar bine abit hollabon ubong The Cash account balance at the beginning of June is $950,000. Earle collects 80% of revenues in the month of sale and 20% in the following month. Materials costs are paid in the month following purchase, and all other costs are paid for as incurred. lisvesi 000.000.18 al de Prepare a cash budget for June. mal to gainniged odi is souled tase da o wollt adni alsi totali lietotnom sdt mi eu to sflouru oss 2 be als gehallot barnsisa tol bieg on at min is base oni ali ni binq ou ata

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Earl K. Stice, James D. Stice

19th edition

1133957919, 978-1285632988, 1285632982, 978-0357691229, 978-1133957911

More Books

Students also viewed these Accounting questions