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La Famiglia Pizzeria provided the following information for the month of October: a. Sales are budgeted to be $163,060. About 85% of sales is cash;
La Famiglia Pizzeria provided the following information for the month of October: a. Sales are budgeted to be $163,060. About 85% of sales is cash; the remainder is on account. h. La Famiglia expects that, on average, 70% of crachit sales will be paid in the month of sale, and 28% will be paid in the following month. c. Food and supplies purchases, all an account, are expected to be $114,000. La Famiglia pays 25% in the month of purchase and 25% in the month following purchase. d. Most of the mark is done by the owner the typically withdraw $6,000 a month from the business as their salary. (Note: The $5,000 is a payment in total In the Emo owners, not per person.) Various part-time workers cost $7,300 per month. They are paid for their work weekly, so an average 90% of their mages are paid in the month incurred and the remaining 10%% in the next a. Lidities average $5,950 per month. Rent on the building is $4,100 per month. T. Insurance is paid quarterly; the next payment of 51,600 is due in October. 4. September sales ware $181,500 and purchases of food and supplies in September equaled $130,000. h. The cash balance on October 1 is $2, 147. Required: If required, round your a Howweirs In the nearest dollar. L. Caledale the cash receipts expected in October. 2. Calculate the cash needed in October to pay for food purchases. 3. Prepare a cash budget for the month of October. La Famiglia Pizzeria Cash budget For the month of October Beginning Balance Cash receipts Cash available Payments for food and supplies pure Owners' dram Workers' magi kan Insurance Total disbursements Ending balance
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