EA10. LO 7.3 Nonna's Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February? Dec. 2017 $20,000 Jan. 2018 $60,000 Feb. 2018 $70,000 EA11. LO 7.3 Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 $60,000 Dec. 2017 $50,000 Jan. 2018 $35,000 Feb. 2018 $40,000 Mar. 2018 $45,000 EA12. LO 7.3 Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for March if in January through March, it purchased $35,000, $37,000, and $39,000, respectively. EA13. LO 7.3 What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the beginning and ending balances of accounts payable are $95,000 and $92,000, respectively? EA14. LO 7.3 Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $75,000 in June, $65,000 in July, and $90,000 in August? EA15. LO 7.4 Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per unit, direct labor of $3 per unit, and manufacturing overhead of $1 per unit. Fixed costs are $35,000. What would be the budgeted amounts for 20,000 and 25,000 units? EA16. LO 7.4 Using the provided budgeted information for production of 10,000 and 15,000 units, prepare a flexible budget for 17,000 units. Production Expense A Expense B Expense C 10,000 units $15,000 21,000 43,000 15,000 units $22,500 21,000 43,000