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x P9-65B (book/static) iQuestion Help Conrad Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Conrad Manufacturing's operations: (Click the icon to view the data.) A /Click the icon to viour additional data ) Read the requirements. Data Table - X For the Quarter Ended March Sales revenue Less: Cost of goods sold Current Assets as of December 31 (prior year): Gross profit Cash $ 4,460 Less: Operating expenses Accounts receivable, net S 49,000 Inventory S Less: Depreciation expense 15,600 Property, plant, and equipment, net S Operating income 121,500 Accounts payable S Less: Interest expense 43,000 Capital stock 127,000 Less: Income tax expense Retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . S 22,800 Net income Enter any number in the edit fields and then Print Done ? All parts showing Clear All Check Answer Copyright @2020 Zoom Video Communications, Inc. All rights reserved. O Help Privacy & Legal Policies Type here to search O e M 3:25 PM 4/14/2020Homework: Case Study 1 Save Score: 14.26 of 15 pts 1 of 1 (1 complete) HW Score: 95.08%, 14.26 of 15 pts x P9-65B (book/static) Question Help Conrad Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Conrad Manufacturing's operations: (Click the icon to view the data.) i (Click the icon to view additional data.) Read the requirements For the Quarter Ended March 31 Sales revenue $ 252,000 Less: Cost of goods sold Gross profit Less: Operating expenses (37,800) Less: Depreciation expense Operating income Less: Interest expense (610) Less: Income tax expense Net income Enter any number in the edit fields and then click Check Answer. ? All parts showing Clear All Check Answer Copyright @2020 Zoom Video Communications, Inc. All rights reserved. O Help v & Legal PoliciesHomework: Case Study 1 Save Score: 14.26 of 15 pts 1 of 1 (1 complete) HW Score: 95.08%, 14.26 of 15 pts x P9-658 i More Info - X Conrad Manufad (Click the ic March .. ........ 3,600 Read the require f. Monthly manufacturing overhead costs are $6,500 for factory rent, $2,900 for other fixed manufacturing expenses, and $1.40 per F unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. Sales revenue g.Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Conrad Manufacturing will purchase equipment for $5,800 (cash), while February's cash expenditure will be $11,600 and March's cash expenditure will Less: Cost of be $15,800. Gross profit h. Operating expenses are budgeted to be $1.20 per unit sold plus fixed operating expenses of $1,400 per month. All operating expenses are paid in the month in which they are incurred. Less: Operatin i. Depreciation on the building and equipment for the general and administrative offices is budgeted to be $4,900 for the entire quarter, which includes depreciation on new acquisitions. Less: Depreci j. Conrad Manufacturing has a policy that the ending cash balance in each month must be at least $4,400. It has a line of credit with Operating inco a local bank. The company can borrow in increments of $1,000 at the beginning of each month, up to a total outstanding loan balance of $160,000. The interest rate on these loans is 1% per month simple interest (not compounded). The company would pay Less: Interest down on the line of credit balance in increments of $1,000 if it has excess funds at the end of the quarter. The company would also pay the accumulated interest at the end of the quarter on the funds borrowed during the quarter. Less: Income k. The company's income tax rate is projected to be 30% of operating income less interest expense. The company pays $10,800 Net income cash at the end of February in estimated taxes. Enter any numb Print Done ? All parts showing Clear All Check Answer Copyright @2020 Zoom Video Communications, Inc. All rights reserved. Help Privacy & Legal Policies Type here to search O Eli e 3:25 PM 4/14/2020
