Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need a-f answered The Bentfield Congary is peeparing its cash parments budget. The following items relate to cash payments the company anticipates making during

i need a-f answered image text in transcribed
image text in transcribed
image text in transcribed
The Bentfield Congary is peeparing its cash parments budget. The following items relate to cash payments the company anticipates making during the second quarter of the upcoming year. (1) (Click the kon to vew the cash paytnent information) Requirement a. The company pays for 45% of its direct materials purchases in the month of purchase and the remainder the following month. The compary's direct material purchases for March through June are anticipated to be as follows. b. Direct labor is paid in the month in which it is hcurred Direct labor for each month of the second quarter is budgeted as follows c. Manufacturing overhead h estinated to be 160% of direct laber cost each month This monthly estimate includes $34,000 of depreciation on the plant and equipment All manulacturing overthead (excluding dopreciation) is paid in the month in which it is incured d. Monthly operating expenses for March thiough June are profected to be as follows Montlily operating expenses are pald in tie month after they are incurred Monthly operating expenses include 58.000 for monthly depredistion on adrinistratire offices and equprient, and $3,000 for bad debt expensin. e. The company plans to pay $8,000 (casu) for a new server in May t. The company must nake an esfinated tax payment of 512,000 on June 15 The Bentfield Company Cash Payments Budget or the Months of April through June The Bentfield Congary is peeparing its cash parments budget. The following items relate to cash payments the company anticipates making during the second quarter of the upcoming year. (1) (Click the kon to vew the cash paytnent information) Requirement a. The company pays for 45% of its direct materials purchases in the month of purchase and the remainder the following month. The compary's direct material purchases for March through June are anticipated to be as follows. b. Direct labor is paid in the month in which it is hcurred Direct labor for each month of the second quarter is budgeted as follows c. Manufacturing overhead h estinated to be 160% of direct laber cost each month This monthly estimate includes $34,000 of depreciation on the plant and equipment All manulacturing overthead (excluding dopreciation) is paid in the month in which it is incured d. Monthly operating expenses for March thiough June are profected to be as follows Montlily operating expenses are pald in tie month after they are incurred Monthly operating expenses include 58.000 for monthly depredistion on adrinistratire offices and equprient, and $3,000 for bad debt expensin. e. The company plans to pay $8,000 (casu) for a new server in May t. The company must nake an esfinated tax payment of 512,000 on June 15 The Bentfield Company Cash Payments Budget or the Months of April through June

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

Principles of Auditing and Other Assurance Services

Authors: Ray Whittington, Kurt Pany

20th edition

77729145, 978-1259295430, 1259295435, 978-0077729141

More Books

Students also viewed these Accounting questions

Question

What do you plan on doing upon receiving your graduate degree?

Answered: 1 week ago

Question

What abilities are possible because humans use symbols?

Answered: 1 week ago