Huber Company has provided the following budget information for the first quarter of 2018:
1. Prepare Huber Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2018.
Begin by preparing the schedule of cash receipts from customers for the first quarter of 2018.
Huber Company has provided the following budget information for the first quarter of 2010 Additional data related to the finst quarter of 2018 for Huber Company. (17) (Click the ioon to virw the budget information.) (1) (Click the ioon fo view the drats) Read the regurements. Requirement 1. Prepare Huber Company/s schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2018 Begin by preparing the schedule of cash receipts from oustomers for the first quarter of 2018. Data table Cak Danainte fram Cuctomers Prepare the schedule of cash payments for the frast quarter of 2018 . More info Capital expenditures indude $39,000 for new manufacturing equipment to be a. purchased and paid in the frst quarter. Cash receipts are 85% of sales in the quarter of the swle and 15% in the b. quarter following the sale. Direct materials purchases are paid 60% in the quarter purchased and 40%. c. the nect quarter. Oirect labor, manulactuning overhesd, and seling and administrative costs an d. paid in the quarter incurred. Income tax expense for the first quarter is projected at $48,000 and is paid in e. the quarter incurred Huber Company expects to have adequate cash funds and does not antioipa f. borrowing in the first quarter. The December 31, 2017, balance in Cash is $10,000. in Accounts Recervab 0. is $10.700, and in Acoounts Pryable is $15.200. Huber Company has provided the following budget inflormation for the first quarter of 2018 : Additional data related to the first quarter of 2018 for Huber Compar Cick the ioon to view the budget information.) (Click the icon to virw the dita.) Read the requiremerts. Review the achedule of cash receipts from customers you prepared in Requirement 1. Review the sohedule of cash payments you prepared in Requirement 1. Hiber Compary has provided the following budget information for the first quarter of 2018 : (Cick the icon to vew the budget information) Hequerement 2 . Prepare huber Companys cash budpet for the fist quarter of 2018 Feview the schedule of cash receipts from customers you prepared in Requrecrent 1. Fieview the soledule of cawl payments you prepared in Requirement 1 . Additional data related to the first quarter of 2018 for Huber Company. (Click the icon to view the data) Read the reguiremerts. Requirements 1. Prepare Huber Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2018 2. Prepare Huber Company's cash budget for the first quarter of 2018 . More info Capital expenditures include $39.000 for new manutacturing equipment to be a. purchased and paid in the first quarter. Cash recelpts are BSW of sales in the quarter of the sale and 16% in the b. quarter following the sale. Direct materials purchases are paid 60% in the quarter purchased and 40H in o. the nect quarter Direct labor, manufacturing overhead, and selling and administrative costa are d. paid in the quarter incurred. tncome tax expense for the first quarter is propected at 34.000 and is paid in e. the guarter incurred Huber Compary expects to have adequate cash funds and does not antiopate 1. borrowing in the first quarter. The December 31,2017 , balance in Cash is $10,000, in Acocunta Recatvabie 9. is $10,700, and in Accounts Payable is $15,200
