how do you solve for question 6 using the information above?

More information on special order

added information from question 3.

how do I solve for cash recepits for question 6?

updated information I put for question 6.

Calculation of Cash receipts from customers: June Total budgeted sales Cash sales Sales on credit April $ 580,000 116,000 $ 464,000 May $ 427,500 85,500 $ 342,000 20% 80% $ 547,500 109,500 $ 438,000 June Current month's cash sales Collections of receivables Total cash receipts Total cash receipts from customers April May $ 116,000 85,500 464,000 464,000 $ 580,000 $ 549,500 $ 109,500 342,000 $ 451,500 ZDV MANECAATLIDIN 4) To maintain moral among their employees, Zigby has agreed to pay employees a wage premium of $3 an hour for excess overtimo. Excess overtime has been defined as any hours in excess of 13,000 hours in a month. The Direct Labor Budget will need to be updated for the changes to the production budget and the wage premium added for each month. This table is completed Jimilarly to the budget table in connect. Total ZIGBY MANUFACTURING Revised Direct Labor Budget April May Budgeted production (units) 26,320 30,040 Labor requirements per unit (hours) .50 .50 Total labor hours needed 13,160 15,020 Direct labor rate (per hour) 13 13 Base direct labor cost 171,080 195,260 Wage premium (3xhours over 13,000) 480 6,060 Total Budgeted direct labor costs 171,560 201,320 June 22,940 50 11,470 13 149, 110 149, 110 521,990 5) Factory Overhead Budget will need to be updated for the production and labor requirement changes. This table is completed similarly to the budget table in connect. + Total Labor hours needed Variable factory overhead rate Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead ZIGBY MANUFACTURING Revised Factory Overhead Budget April May 13,160 15,020 4.20 4.20 55,272 63,084 37320 37 320 92,592 100,404 June 11,470 4.20 48,174 37,320 85,494 166,530 111,960 278,490 The special order will be on account and the customer is not expected to pay until June. Zigby's management plans to compensate by intensifying collections offorts on their other customers by sending bills out sooner. Management feels these efforts will result in collection of 20% of the credit sales in the month of sale. (This will be in addition to the cash sales for the month). The remainder of credit sales will be collected in the subsequent month. All of March 31 receivables are expected to be collected in April May special order is expected to be collected in June. Complete the tables below to revise the estimate of credit sales. The one-time sale is considered credit June ZIGBY MANUFACTURING Revised Cash Receipts from Customers April May Current month's cash sales (from connect) Current month's credit sales collected (20% of current months credit sales) Previous month's credit sales collected (80% of previous months sales) Special order collected in June Total cash receipts 1) For Zigby's sales, complete the following: a) Complete the table below to determine the net sales amount for the special order. ZIGBY MANUFACTURING Special Order Number of Units (equals May's units from connect) Sales Price per unit (from connect) Gross Sales Revenue (multiply) Less Discount (3% of Gross Sales Revenue) Net Sales for Special Order 17,100 25.00 427,500 12,825 414,674 Tell me wh b) Complete the Revised Sales Budget below by including the Net Sales for Special Order" in the table below. ZIGBY MANUFACTURING Sales Budget April, May, and June 2019 Original Budgeted Net Sales for Special Sales Dollars Order $580,000 427,500 $414,675 547,500 1,555,000 April 2019 May 2019 June 2019 Totals for the 2nd quarter Revised Net Sales $580,000 842,175 547,500 1,969,675 3) To conserve cash, the purchasing manager has asked to reduce April and May's ending raw materials inventory to equal 30% (down from 50%) of next month's materials requirements. June ending raw materials inventory will remain unchanged (same as on connect). Note - Tuis % changes the calculation of required ENDING INVENTORY of raw material (row 4 of the table) and DOES NOT change the raw material required per unit of production (row 2). This table is completed similarly to the budget table in connect. Additionally, the purchase department has negotiated a 5% discount on raw material if they purchases exceed 10,000 pounds in any given month. The 5% will be only for the pounds purchased over 10,000. (Pounds of material purchased 10,000 pounds x 820 per pound X5% Calculate the Discount for each month and calculate the "net" purchase amount. Project 4: Page 2 of 11 Total ZIGBY MANUFACTURING Revised Raw Materials Budget April May Production budget (units) 26,320 30,040 Materials requirements per unit .50 .50 unchanged from connect Materials needed for production 13,160 15,020 Budgeted ending inventory 4,506 3,441 Total materials requirements (units) 17,666 18,461 Beginning inventory (4,580) (4,506) Materials to be purchased 13,086 13,955 Material price per unit $20.00 $20.00 Raw Material purchases before $261,720 $279,100 Discount Discount (5% of purchases exceeding $3,086 $3,955 10,000 lbs) Budgeted raw material purchases $258,634 $275,145 June 22,940 .50 11,470 5,700 17,170 (3,441) 13,729 $20.00 40.770 $20.00 $274,580 $815,400 $3,729 $10.770.00 $270,851 $804,630 Note: The Selling Expense Budget and the General and Administrative Expens Budgets will not need to be revised. Make sure you use the information from the original budgets as prepared on connect. 6) The special order will be on account and the customer is not expected to pay until Junc. Zigby's management plans to compensate by intensifying collections efforts on their other customers by sending bills out sooner. Management feels these efforts will result in collection of 20% of the credit sales in the month of sale. (This will be in addition to the cash sales for the month). The remainder of credit sales will be collected in the subsequent month. All of March 31" receivables are expected to be collected in April. May special order is expected to be collected in June. Complete the tables below to revise the estimate of credit sales. The one-time sale is considered credit ZIGBY MANUFACTURING Revised Cash Receipts from Customers April May Current month's cash sales (from connect) 116,000 85,500 109,500 Current month's credit sales collected 92,800 68,400 87,600 (20% of current months credit sales) Previous month's credit sales collected 464,000 371,200 273,600 (80% of previous months sales) Special order collected in June 470,700 Total cash receipts 672,800 525,100 June